Domestic wholesales of passenger vehicles grew 4.7 per cent in March at 2,92,030 units as compared to the same month last year, Society of Indian Automobile Manufacturers said on Thursday. In March last year, wholesales of passenger vehicles were at 2,79,525 units. Two-wheeler sales clocked 12,90,553 units in the domestic market last month, as compared to [...]
Chemicals maker Anupam Rasayan India Ltd on Thursday said it has signed a Letter of Intent (LoI) worth USD 182 million (Rs 1,500 crore) with one of the leading Japanese multinational to manufacture and supply three high value speciality chemicals. This product will be manufactured in our existing manufacturing facilities. "We are proud to announce [...]
Jindal Steel and Power Ltd (JSPL) will more than double its rail making capacity to 2.2 million tonnes by setting a rail mill at Angul, in Odisha with an annual capacity of 1.2 million tonnes per annum (MTPA). The steel maker owns and operates 1 MTPA rail mill at its Raigarh unit, in Chhattisgarh, where [...]
The Reserve Bank of India on Wednesday proposed to prohibit capitalisation of penal charges and additional interest levied by banks on customers for loan defaults, in a bid to streamline divergent practices followed by lenders. The quantum of penal charges should be proportional to the defaults/non-compliance of material terms and conditions of loan contract up [...]
State-owned power giant NTPC on Wednesday said it has decided to raise Rs 3,000 crore by issuing non-convertible debentures on a private placement basis. "NTPC has decided to issue unsecured non-convertible debentures of Rs 3,000 crore on April 17, 2023, through a private placement at a coupon of 7.35 per cent per annum for a [...]
Government head hunter PESB has recommended the appointment of Amrendu Prakash as Chairman, Steel Authority of India Ltd (SAIL). Prakash is the Director in-charge of the steel maker's Bokaro Steel Plant located in Jharkhand. PESB recommended Amrendu Prakash for the post of SAIL Chairman, the Public Enterprises Selection Board said in a notification on Wednesday. [...]
Lenders of debt-ridden Future Retail Ltd (FRL) has sought an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. The resolution professional of FRL has filed an application before the Mumbai bench of the National Company Law Tribunal (NCLT) "seeking exclusion of a period of 90 days from CIRP [...]
Sebi on Wednesday imposed fines totalling Rs 25 lakh on five entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. In five separate orders, the watchdog levied a fine of Rs 5 lakh each on Natraj Dealtrade, Queen Tie-Up Pvt Ltd, Octagon Merchants, Noble Tradelink and Nirmal Kumar Chopra HUF. [...]
Torrent Power on Wednesday said it has bagged a contract to supply 920 MW gas based electricity from its DGEN and SUGEN plants under a tender of NTPC Vidyut Vyapar Nigal Ltd (NVVN). The ministry of power had designated NVVN as the nodal agency for procurement of up to 4,000 MW power from gas-based plants [...]
In a major step to strengthen cooperatives, the government on Wednesday said existing Primary Agricultural Credit Societies (PACS) having wholesale petrol and diesel dealership licence will be given a one-time option to covert their bulk consumer pumps into retail outlets. The cooperation ministry, in a statement, said PACS will also be given priority in allotment [...]
