Essar Oil and Gas Exploration and Production Ltd (EOGEPL) will invest another Rs 2,000 crore in the next 18 to 24 months in its coal bed methane project in West Bengal’s Raniganj, an official said. The company earlier had already invested Rs 5,000 crore in the Raniganj block in drilling 350 wells and producing nearly [...]
Reliance Industries Ltd's (RIL) strategy to diversify and dominate a number of industries will boost spending and will also help mitigate its elevated capex needs, rating agencies said on Wednesday. While S&P Global Ratings said it believes that "the company's appetite for bigger investments or M&As will dissipate", Fitch Group company CreditSights said its "credit [...]
Tata Steel Long Products (TSLP) has posted a standalone loss of Rs 184.11 crore during the fourth quarter of financial year 2022-23, on account of increased expenses. The company had reported a net profit of Rs 59.62 crore during the January-March period of fiscal year 2021-22, TSLP said in a regulatory filing on Tuesday. The [...]
Homegrown Larsen & Toubro (L&T) on Tuesday said its power transmission and distribution business has won significant orders in the domestic and overseas markets. The infrastructure major did not disclose the financial details of the projects. However, according to its classification, significant orders value in the range of Rs 1,000-2,000 crore. The power transmission & [...]
Equity benchmarks Sensex and Nifty closed higher for the second straight session on Tuesday, helped by buying in power and utility stocks amid positive quarterly numbers announced by heavyweight companies. However, foreign fund outflows and a muted trend in global equities capped the gains, traders said. In a highly volatile trade, the 30-share BSE Sensex [...]
Adani Power Ltd on Thursday said it has signed an agreement with MPSEZ Utilities Limited (MUL) for power supply. In a regulatory filing, Adani Power said the power supply agreement is for 15 years. "Adani Power has entered into a long-term power supply agreement (PSA) with MUL for 360 MW capacity to be supplied from [...]
RBI Governor Shaktikanta Das, in the rate-setting panel meeting earlier this month, opined that the cumulative impact of the monetary policy actions over the last one year is still unfolding and needs to be monitored closely, as per the MPC minutes released on Thursday. Das, along with the five other members of the Monetary Policy [...]
Finnish telecom gear maker Nokia on Thursday reported a 10 per cent increase in global net sales to 5,859 million euros in the first quarter ended March 2023, on account of over a four-fold jump in Indian business. The company registered 5,348 million euros in net sales in the same period a year ago. "Network [...]
India's quick service restaurant industry is likely to witness 20-25 pc growth in the current financial year supported by demand uptick and increasing penetration driven by a rapid expansion of stores. Over the long-term, revenue growth shall be supported by factors like rising QSR penetration levels, a shift from the unorganised to the organised segment [...]
Market benchmark indices Sensex and Nifty ended with marginal gains on Thursday after falling in the past three days, helped by fag-end buying in energy, telecom and utility stocks. Investors remained cautious amid renewed foreign fund outflows and prevailing risk-off sentiments, traders said. In a highly volatile trade, the 30-share BSE Sensex climbed 64.55 points [...]
