Ron Malka, former envoy of Israel to India, has said that he has assumed charge as the Executive Chairman of the Haifa Port Company (HPC) owned by a consortium led by the ports-to-energy conglomerate Adani Group. A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israel's Gadot Group won the tender in July [...]
Manufacturing activities in India touched a three-month high in March boosted by faster expansions in new orders and output amid demand resilience and easing of cost pressures, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest [...]
Adani Ports and Special Economic Zone Ltd (APSEZ) on Saturday said it has completed the acquisition of Karaikal Port Pvt Ltd (KPPL) pursuant to National Company Law Tribunal (NCLT) approval. Earlier, APSEZ was declared a successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of KPPL. Karaikal Port is an all-weather deep-water port in [...]
Nine of the top 10 valued firms together added Rs 2,34,097.42 crore in market valuation amid a positive trend in equities last week, with Reliance Industries emerging as the biggest gainer. The 30-share BSE benchmark jumped 1,464.42 points or 2.54 per cent in a holiday-shortened last week. Equity markets were closed on Thursday on account [...]
After pulling out funds in the past two months, Foreign investors have invested Rs 7,936 crore in the Indian equities in March mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners. However, if one adjusts for the investments of GQG in Adani Group, the net flow is still negative, [...]
Steel, power and cement companies have bagged a sizable number of blocks auctioned under the sixth round of commercial coal auctions. As per an official note, JSW Steel has won Banai and Bhalumunda mines in Chhattisgarh, another block Parbatpur Central and Sitanala mines in Jharkhand, while JSW Cement bagged Marwatola - VI mine in Madhya [...]
Adani Group and French company TotalEnergies' newly built Rs 6,000 crore LNG import facility at Dhamra on the Odisha coast has received its first ever shipment of liquefied natural gas - a fuel that will be used to make steel, produce fertilizers and turned into CNG and cooking gas, helping change the landscape of Eastern [...]
India's power consumption dipped 0.74 per cent to 127.52 billion units (BU) in March this year for the first time in 31 months, according to government data. The contraction in power consumption is mainly because of widespread rains due to western disturbances in the country and low temperature in March. Last contraction in power consumption [...]
Higher yields on bonds, lack of new launches, limited availability and awareness among investors have made emerging investment instruments REITs and InvITs less attractive with fundraising hitting an all-time low at Rs 1,166 crore in 2022-23. Going forward, a change in the tax rule on distributions classified as repayment could lead to a substantial increase [...]
India's fuel demand rose in March as a pick-up in agriculture activity helped reverse a slowdown that was witnessed in the first half of the month, preliminary industry data showed on Sunday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport [...]
