New Delhi, May 4 (PTI) LIC's public offer, the country's biggest-ever IPO, saw the policyholders' portion being oversubscribed on the first day itself on Wednesday, though overall subscription stood at 67 per cent. The government aims to generate about Rs 21,000 crore by selling 3.5 per cent stake in the insurance behemoth. LIC's initial public [...]
New Delhi, May 4 (PTI) The Union Food Ministry has suggested imposing a 5 per cent GST on de-oiled rice bran to discourage use of the product for feed purpose, Food Secretary Sudhanshu Pandey said on Wednesday. "We have written to the Finance Ministry to impose 5 per cent GST on de-oiled rice bran," Pandey [...]
Kolkata, May 4 (PTI) Tata Steel will achieve its target to double its capacity to produce 40 million tonne steel by 2030 and will install its Electric Arc Furnaces (EAF) in north, south and west India that will use scrap as an environmentally friendly step, a top company official said. Electric Arc Furnaces use recycled [...]
Mumbai, May 4 (PTI) Reserve Bank of India's surprise move to hike repo rate reflects that the central bank is taking inflation and inflationary expectations very 'seriously', veteran Banker Uday Kotak said on Wednesday. He expects a 100 basis points repo rate hike in the current fiscal. The RBI on Wednesday after an unscheduled MPC [...]
Tata Consumer Products Ltd (TCPL) on Wednesday reported an over three-fold jump in consolidated net profit at Rs 239.05 crore for the fourth quarter ended March. The company had posted a net profit of Rs 74.35 crore in the January-March quarter a year ago, said TCPL, earlier known as Tata Global Beverages Ltd, in a [...]
Colombo, May 4 (PTI) "We have bitten off more than what we can chew," debt-ridden Sri Lanka's Finance Minister Ali Sabry acknowledged before Parliament on Wednesday while reminding warring political parties that they have a national responsibility to contribute to revive the island nation's collapsed economy.Detailing the perilous state of the economy, Sabry, who has [...]
New Delhi, May 4 (PTI) The Electronics and IT Ministry aims to train over 85,000 engineers on chip design by expanding the infrastructure available for the technology to 120 academic institutions across the country in the next five years, an official statement said on Wednesday. The electronics and IT ministry had done a pilot deployment [...]
Bengaluru, May 4 (PTI) Karnataka Electric Vehicles-Manufacturers and Dealers Association (KEVMDA), in collaboration with Key Media, is organising a national-level electric vehicle (EV) exhibition 'EV Expo 2022' here from May 6-8. The expo is set to be held at the Bangalore International Exhibition Centre (BIEC). Over 100 firms manufacturing two-wheelers and four-wheelers, battery companies, spare-parts [...]
New Delhi, May 4 (PTI) LIC's public offer, the country's biggest-ever IPO, saw the policyholders' portion being oversubscribed on the first day itself on Wednesday, though overall subscription stood at just 66 per cent. The government aims to generate about Rs 21,000 crore by selling 3.5 per cent stake in the insurance behemoth. The LIC [...]
Adani Total Gas Ltd on Wednesday reported a 47.5 per cent drop in its fourth-quarter net profit after it used expensive imported LNG to meet a spurt in demand for CNG and piped cooking gas. The company posted a net profit of Rs 76 crore in January-March compared with Rs 145 crore in the year-ago [...]
