There are a lot of business opportunities for startups in the domestic mining sector where production worth around USD 7 billion happens annually, Mines Secretary Vivek Bharadwaj said on Thursday. The sector faces several technological challenges, and the startups can explore these issues as a business opportunity for them, the official said while addressing the [...]
Electrification and automation major ABB India on Thursday announced the expansion of its facility at Peenya factory in Bengaluru by setting up a new line for the production of variable speed drive modules. Variable speed drive modules are used to control the speed of electric motors to match the actual demands of the process to [...]
Budget carrier SpiceJet on Thursday said it has no plans to file for insolvency proceedings and has also started the process of reviving its grounded fleet with USD 50 million. The statement from SpiceJet comes at a time when a lessor has filed an insolvency resolution plea against the airline and crisis-hit rival Go First [...]
State-owned Hindustan Copper on Thursday said it plans to raise around Rs 548 crore through various financial routes. A proposal in this regard will be taken up at the company's board meeting next week on May 19, 2023. In a regulatory filing, the company said its board will consider the "recommendation for seeking approval of [...]
Apollo Tyres is bullish on India, which is performing better than the rest of the world, and the company is making the country its export hub as it looks to expand further in the US and the Middle East, according to company's vice chairman and managing director Neeraj Kanwar. The Indian tyre major, which has [...]
Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges. The order came after the applicant (Cummins Inc) filed a settlement application for proposing to settle by neither 'admitting nor denying the guilt'. "The [...]
In a major relief for crisis-hit Go First, the National Company Law Tribunal (NCLT) on Wednesday admitted its plea for voluntary insolvency resolution proceedings and declared a moratorium under the insolvency law. The ruling means that lessors are barred from taking back aircraft and creditors are restrained from taking coercive action. The tribunal's ruling, which [...]
Billionaire Gautam Adani's group on Tuesday said it will prepay USD 130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as USD [...]
Fitch on Tuesday affirmed India's sovereign rating at 'BBB-' with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge. India's rating has been unchanged at 'BBB-', which is the lowest investment grade, since August 2006. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) [...]
Shares of Mankind Pharma made a remarkable debut on the stock exchanges on Tuesday, listing with a premium of over 20 per cent against the issue price of Rs 1,080. The stock began the trade at Rs 1,300, up 20.37 per cent on the BSE. It further zoomed 24.53 per cent to Rs 1,366. At [...]
