State-owned Solar Energy Corporation of India Ltd (SECI) has got the status of Miniratna Category-I Central Public Sector Enterprise (CPSE). A communication to this effect has been issued by the Ministry of New and Renewable Energy, a ministry statement said on Wednesday. The SECI has been accorded the status of Miniratna Category-I Central Public Sector [...]
US-based Honeywell has set up a sustainability centre of excellence in Madurai which would serve as a hub for support in engineering, innovation and collaboration on sustainability initiatives, the company said on Wednesday. The Centre would accelerate Honeywell's commitment to innovate products and services that help stakeholders reduce emissions as well as achieve its own [...]
Equity benchmarks Sensex and Nifty extended rally for the eighth straight session on Wednesday, propelled by intense buying in IT, healthcare and auto stocks amid sustained foreign fund inflows. A strengthening rupee and positive opening in European markets further bolstered sentiment, traders said. Industrial Production data for February and March inflation rates are scheduled to [...]
Decacorn fintech firm PhonePe has received an additional USD 100 million from General Atlantic during its ongoing fundraise round of USD 1 billion at a pre-money valuation of USD 12 billion, the company said on Wednesday. With this fresh funding, the Walmart group firm has raised USD 750 million till date. "PhonePe confirms a USD [...]
Serum Institute of India (SII) CEO Adar Poonawalla on Wednesday said it has restarted manufacturing of COVID-19 vaccine Covishield amid rising numbers of cases of the virus infection. He said the company already has six million booster doses of Covovax vaccine available and adults must take the booster shot. Reacting to reports of COVID-19 vaccines [...]
Canara Bank and NPCI Bharat BillPay Ltd (NBBL) have announced the launch of cross-border inward bill payment services for Indians based in Oman. NRIs can now leverage the robust platform offered by the Bharat Bill Payment System (BBPS) to make bill payments on behalf of their families through the Musandam Exchange, a statement said on [...]
Top global retailers from the US and Europe have shown keen interest in sourcing goods from Indian toy manufacturers and hand-hold them to meet their compliance requirements, a government official said. The official said these retail giants are looking to procure toys from India at a good scale. The Department for Promotion of Industry and [...]
HDFC Bank on Wednesday announced that it has signed a "Master Inter Bank Credit Agreement" with Export Import Bank of Korea for a USD 300 million line of credit. The pact was signed by the two entities at GIFT City in Gujarat's capital Gandhinagar on Wednesday, said a release by the HDFC Bank. This agreement [...]
Insurance regulator Irdai has given licence to a General insurer for the first time since 2017, close on the heels of allowing two more applicants in the Life space and is looking at around 20 more applications, its Chairman Debasish Panda said on Wednesday. The latest to get the licence is Kshema General Insurance and [...]
S&P Global Ratings on Wednesday said it is expecting a significant fall in rates of metallurgical coal and Indian steel makers are to benefit from the price correction. "We expect lower seaborne met coal prices will help Indian steel mills, as they import 70 per cent of their total requirement," S&P Global Ratings credit analyst [...]
