Punjab National Bank (PNB) which has about Rs 7,000 crore exposure in Adani Group entities on Monday said it is keeping a close watch on situation developing following the damning disclosures by a US short seller. The state-owned bank has total exposure of about Rs 7,000 crore. Out of that Rs 2,500 crore is related [...]
Telecom players have started rolling out 5G services in select pockets but backhaul infrastructure will cost Rs 3 lakh crore over the next 4-5 years, according to ICRA. ICRA noted consistent "healthy improvement" in operating metrics of telcos but added that debt levels continue to remain high and seen at around Rs 6.3 lakh crore [...]
Unsold housing stocks dropped 10 per cent to 4,61,600 units across nine major cities at the end of the December on better sales, PropEquity said on Monday. According to its data, unsold housing inventories stood at 5,12,526 units at the end of the September quarter across these nine cities. "Despite many challenges ...home sales strongly [...]
Storage battery maker and distributor Sunlit Power has collaborated with Lucas TVS under which it will supply 50,000 electric vehicle motors and controllers manufactured by TVS group company to various industries, a release said on Monday. It will include motors with 1kw-15kw capacity for various applications including those for two-wheelers, high-speed passenger autos, and pick-up [...]
Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday reported a 24.2 per cent rise in consolidated net profit at Rs 2,552.92 crore for the quarter ended December 31, 2022 on the back of higher revenue from operations. The company had posted consolidated net profit of Rs 2,054.74 crore in the year-ago period, L&T [...]
Benchmark BSE Sensex and Nifty closed higher in a highly volatile trade on Monday, riding on the back of a recovery in IT, oil and financial stocks after a two-day fall. The 30-share Sensex recovered 169.51 points or 0.29 per cent to settle at 59,500.41. During the day, it rose by 313.34 points or 0.52 [...]
Prime Minister Benjamin Netanyahu will attend a ceremony here on Tuesday to celebrate the successful entry of the Adani Group in Israel through its acquisition of the Haifa port, which is being seen as a "strategic purchase" and probably the biggest foreign investment in this country in any sector. A consortium of Adani Ports and [...]
Telangana Minister for IT and Industries K T Rama Rao on Monday inaugurated FMCG major ITC's Rs 450 crore state-of-the-art Integrated Food Manufacturing and Logistics Facility at Medak. The inauguration was done in the presence of Sanjiv Puri, Chairman and Managing Director, ITC Ltd, a press release form ITC said. Spread over nearly 59 acres [...]
The first G20 Energy Transition Working Group(ETWG) meeting under India’s presidency will be organised in Bengaluru from February 5-7 wherein nine special invitee nations including Spain, the Netherlands and Singapore will take part. The meeting will have over 150 participants including G20 member countries, nine special invitee guest nations – Bangladesh, Egypt, Mauritius, the Netherlands, [...]
Senior executives in India are expected to receive an average 9.1 per cent increase in their salaries this year, up from 8.9 per cent in 2022. According to leading global professional services firm Aon plc, the average CEO compensation was Rs 8.4 crore, and it has increased 21 per cent in the last four years, [...]
