State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Thursday said it has bagged an order worth Rs 300 crore to renovate and modernise (R&M) steam turbines at Ukai thermal power station in Gujarat. Valued at about Rs 300 crore, the order for renovation and modernisation of 200 MW Unit-3 and 210 MW Unit-5, has [...]
Industry body Ficci has sought an increase in the import duty on aluminium and aluminium products to at least 12.5 per cent in the upcoming budget 2023-24, stating that the move will help curb dumping of aluminium products and encourage growth of the domestic manufacturing and recycling. The present import duty on aluminium and aluminium [...]
IFFCO, GCMMF (Amul), Kribhco, NAFED and NCDC will jointly promote a newly announced national-level export cooperative society with an authorised share capital of Rs 2,000 crore for the trading of goods and services in the cooperative sector. Last week, the Cabinet Committee on Economic Affairs (CCEA) approved a proposal to establish three new national-level multi-state [...]
Equity benchmarks declined on Thursday after a two-day rally, mirroring a weak trend in the US markets and fresh foreign fund outflows. Weak US consumer data and hawkish comments from the Fed's policymakers dragged markets lower. The 30-share BSE Sensex declined dropped 187.31 points or 0.31 per cent to settle at 60,858.43. During the day, [...]
International Road Federation (IRF), a global body advocating for safer roads, on Thursday said that it has made a plea to the government to do away with the GST imposed on helmets. At present a GST of 18 per cent is levied on helmets. "IRF...in a letter written to the Union finance minister Nirmala Sitharaman [...]
Toyota Kirloskar Motor on Thursday said Manasi Tata, daughter of late Vikram Kirloskar, will take over as its new Vice Chairperson with immediate effect. She will also take over as the Vice Chairperson of Toyota Kirloskar Auto parts (TKAP), Toyota Kirloskar Motor (TKM) said in a statement. "The resolution, passed in its board meeting, comes [...]
Electrical appliances maker Havells India Ltd on Thursday reported a 7.3 per cent decline in consolidated net profit to Rs 283.52 crore for the third quarter ended December 31, 2022, on account of higher raw material costs. The company had posted a consolidated net profit of Rs 305.82 crore in the same quarter last fiscal, [...]
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wishlist for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain said the domestic pharma industry is currently around USD 50 [...]
Asian Paints Ltd on Thursday reported a 6.4 per cent rise in consolidated net profit at Rs 1,097.06 crore in the third quarter ended December 2022. The company had posted a consolidated net profit of Rs 1,031.29 crore in the same period last fiscal, Asian Paints said in a regulatory filing. Consolidated revenue from operations [...]
Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P [...]
