The government has exempted public sector entities from the Minimum Public Shareholding (MPS) norm which mandates at least 25 per cent public float for all listed companies. The exemption would apply on these entities regardless of the government's direct or indirect holding. The exemption from MPS norm will be valid for a "specified period" even [...]
Rating agency Icra on Tuesday revised its growth estimates for the Indian road logistics sector to 11-13 per cent for the current fiscal against the previous estimate of 7-9 per cent. The rating agency said the growth is supported by a strong demand environment, coupled with the continuation of firm freight rates, also supported by [...]
Outstanding loan portfolio of the micro-finance institution (MFI) sector across India will increase around 20.3 per cent at Rs 3.25 lakh crore in 2022-23 compared to the previous fiscal, said the MFIN, a self-regulatory organisation (SRO) recognised by RBI. During the last fiscal, the total outstanding of the MFI sector was Rs 2.7 lakh crore, [...]
The net profit of operating public sector enterprises jumped 50.87 per cent to Rs 2.49 lakh crore during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers, according to a government survey. The net profit of operating central public sector enterprises (CPSEs) stood at Rs 1.65 lakh [...]
The country's coal output went up by 16.39 per cent to 607.97 million tonnes (MT) during the April-December period of the ongoing fiscal. India's coal production was 522.34 MT in the corresponding period of previous fiscal. The coal production by state-owned Coal India -- which accounts for over 80 per cent of domestic output of [...]
Market benchmarks overcame bouts of volatility to close in the green for the second straight session on Tuesday, propped up by robust demand for banking, IT and pharma stocks amid a supportive trend overseas. However, a depreciating rupee and sustained foreign fund outflows capped the gains, traders said. The 30-share BSE Sensex rose 126.41 points [...]
External Affairs Minister S Jaishankar has defended India's move to import crude oil from Russia notwithstanding the growing disquiet over it by Western powers, saying that Europe has imported six times the fossil fuel energy from Russia than India has done since February 2022. Jaishankar, who arrived here from Cyprus on the second leg of [...]
Indian media and entertainment sector is likely to grow 12-14 per cent to clock Rs 1.6 lakh crore revenue in FY24, rating agency Crisil said in a report. The revenue growth of the Indian media and entertainment (M&E) from advertising would be led by digital platforms, followed by TV and print, it added. "Ad revenue, [...]
State-owned Convergence Energy Services Ltd, a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL), on Tuesday said the prices discovered for the 6,465 electric bus tender were 29 per cent lower than what it costs to operate diesel buses. This unified tender constitutes demand for electric buses from six Indian states & UTs – Delhi, [...]
The Indian economy and exports will be moderately impacted in 2023 by weak global demand and recession in large economies and to improve its current account, the country should aim at reducing energy import bill, economic think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that in 2022, India will pay [...]
