Damodar Valley Corporation achieved the “highest” power generation in its 75 years of existence, with a 6.5-per cent on-year rise in 2022-23 to 43.32 billion units, which mostly came from thermal sources, company officials said. It also registered a robust 29 per cent growth in power sales to Rs 24,432 crore in 2022-23 over the [...]
The government may consider a 0.3 per cent uniform digital payment facilitation fee to fund the infrastructure required for such transactions and also to ensure financial viability of the UPI payment system, suggested a study by IIT Bombay. The facilitation fee of 0.3 per cent can generate around Rs 5,000 crore in 2023-24, said the [...]
Demanding the Centre not to privatise RINL, the corporate identity of Visakhapatnam Steel Plant in Andhra Pradesh, BRS working president and Minister K T Rama Rao on Sunday wrote an open letter to the Union government requesting it to release Rs 5,000 crore to the steel maker. KTR said the BRS party vehemently opposes the [...]
The IL&FS Group has so far paid back Rs 29,000 crore to the secured creditors, with the latest being an interim pay-out of Rs 920 crore for the Chenani Nashri Tunnelway, a subsidiary of IL&FS Transportation Network. Chenani Nashri Tunnelway (CNTL) had a secured debt of around Rs 5,500 crore and the interim payout takes [...]
Smartworks, which provides managed office space, plans to raise USD 70-90 million equity fund this fiscal year for future growth to tap the rising demand for flexible workspace. In an interview with PTI, Smartworks founder Neetish Sarda said the company's revenue is set to cross Rs 700 crore last fiscal from Rs 394 crore in [...]
Cash-strapped Pakistan plans to place its first order for Russian crude oil next month and it will take about four weeks for the commodity to reach the country, Minister of State for Petroleum Musadik Malik said. Pakistan, which is currently grappling with high external debt and a weak local currency, is desperate to purchase cheap [...]
SpiceJet Ltd on Monday said it has hived off its cargo and logistics business SpiceXpress into a separate entity -- SpiceXpress and Logistics Pvt Ltd, from April 1. The move results in a one-time gain of Rs 2,555.77 crore for SpiceJet, substantially reducing its negative net worth, the company said. It also paves the way [...]
Pakistan on Sunday clarified that it never sent any merchandise to Israel following reports of its food products landing in the Jewish state. The country faced a backlash after Pakistani-Jewish businessman Mr. Fishel BenKhald posted on social media a picture of Pakistani products in Israel. It created a storm and the opposition Pakistan Tehreek-e-Insaf party [...]
Global Pharma Healthcare is recalling 50,000 tubes of eye ointment in the US market due to bacterial contamination, according to the US Food and Drug Administration (USFDA). As per its latest Enforcement Report, the US health regulator noted that the Chennai-based drug firm is recalling the affected lot of "Artificial Eye Ointment" in the US [...]
Equity market witnessed volatile trade on Monday morning, with benchmark indices Sensex and Nifty declining amid mixed trend in Asia and concerns over the inflation trajectory. As the market swung between positive and negative territories in early trade, the 30-share Sensex fell 53.63 points or 0.09 per cent to 58,937.89 points. The 50-share Nifty dropped [...]
