In line with the government's COP26 commitments, the Ministry of Steel has asked the stakeholders to develop a time-bound action plan to lower emissions in the steel industry. According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions on an annual basis, [...]
Vedanta Group expects its semiconductor business turnover to be in the range of USD 3 to 3.5 billion out of which around USD 1 billion will come from exports, a senior official of the company said. Vedanta Group's global managing director of display and semiconductor business Akarsh Hebbar told PTI that its JV partner Foxconn [...]
Concord Enviro Systems, an environmental engineering solutions firm, has filed preliminary papers with Sebi to raise funds through an initial public offering (IPO). The proposed IPO comprises fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) of 35,69,180 equity shares by promoters and an investor, according to the draft red herring [...]
The government has hiked gold import duty to 15 per cent from 10.75 per cent to check current account deficit (CAD) and rising import of the yellow metal. The duty changes came into effect from June 30. Earlier, the basic customs duty on gold was 7.5 per cent, now it will be 12.5 per cent. [...]
Debt-ridden Future Enterprises Ltd (FEL) has announced another default, this time on payment of interest of Rs 6.15 crore for its non-convertible debentures. The due date for payment was June 29, 2022, FEL said in a regulatory filing on Thursday. "The Company is unable to service its obligations in respect of the interest on Non-Convertible [...]
Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as "clear danger" and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. Reserve [...]
State-owned Indian Oil Corporation (IOC) will invest over Rs 740 crore to raise the capacity of the nation's oldest oil refinery at Digboi in Assam. In a stock exchange filing, IOC said its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes along with associated facilities [...]
JB Chemicals & Pharmaceuticals on Thursday said its board has approved a proposal to acquire four paediatric brands from Dr Reddy's Laboratories for about Rs 98 crore. The company's board at its meeting held on June 29, has considered and approved the acquisition of a portfolio of brands, for use sales within India, from Dr [...]
Edtech major Byju's group firm Toppr has laid off 1,100 staff or about 36 per cent of its workforce from the company earlier this week, according to some of the employees who have been hit by the decision. Toppr's sacked employees said that they got a call from the company on Monday and were asked [...]
Fleet operators may see a 10-12 per cent revenue growth this fiscal as they are expected to continue adding to their fleets steered by higher demand from road-freight sectors and higher repayment due to elevated borrowing cost among others, credit ratings agency Crisil said on Wednesday. Broad-based recovery in the economy after ebbing of the [...]
