The government has reduced the subsidy provided under FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme applicable on electric two-wheelers registered on or after June 1, 2023. The Heavy Industries Ministry notified the changes. For electric two-wheelers, the demand incentive will be Rs 10,000 per kWh. The cap on incentives for electric [...]
Odisha Chief Minister Naveen Patnaik on Monday inaugurated ITC's integrated consumer goods manufacturing and logistics facility at Khurda. Congratulating ITC CMD Sanjeev Puri, Patnaik urged him to expand the company's footprint in the state. He reiterated the state government's commitment to making Odisha the next industrial hub in the country. The Industrial Policy Resolution (IPR) [...]
Benchmark indices began the trade on a positive note on Tuesday, rallying for the third day running, amid fresh foreign fund inflows and continuous buying in IT counters. The 30-share BSE Sensex climbed 187.61 points to 62,151.29 in early trade. The NSE Nifty advanced 69.35 points to 18,383.75. Among the Sensex firms, Infosys, Bajaj Finserv, [...]
State-owned SJVN's consolidated net profit jumped over two-fold to Rs 17.21 crore during the quarter ended March 31, boosted by higher income. It had clocked a net profit of Rs 7.49 crore in the January-March quarter of the preceding financial year (FY22), the company said in a regulatory filing on Monday. The company's total income [...]
East Pipes Integrated Company for Industry (EPIC), an associate company of homegrown Welspun Corp Ltd (WCL), has secured an order worth SAR (Saudi riyal) 1.8 billion from Saudi Aramco. "This is one of the single largest orders for EPIC from Saudi Aramco and represents the major share of the first package of the Master Gas [...]
JSW Steel and JFE Steel have signed an agreement to set up a JV company to manufacture the entire range of cold rolled grain-oriented electrical steel (CRGO) products at Vijaynagar in Karnataka. In 2021, JSW Steel and Japan's JFE Steel signed a memorandum of understanding (MoU) to conduct a joint feasibility study to establish a [...]
Bringing back demonetisation memories, the Reserve Bank of India (RBI) withdrew ₹ 2,000 notes from circulation, in line with its Clean Note Policy. People can exchange or deposit them in their bank accounts by September 30, 2023, however, they will continue to remain a legal tender. "On a net basis, it is likely that deposits [...]
Benchmark equity indices Sensex and Nifty rallied for a second straight session on Monday following buying in index heavyweight Reliance Industries and IT stocks amid optimism in Asian markets. The 30-share BSE Sensex climbed 234 points or 0.38 per cent to settle at 61,963.68 as 19 of its components closed in green. During the day, [...]
BLS International on Monday said Ministry of Foreign Affairs, European Union, and Cooperation (MAEUEC) of Spain has awarded it the global contract for visa application outsourcing for the second time in a row. BLS International is into visa and consular services. The contract covers Europe, the Americas, Latin America, the CIS, Africa, the Middle East, [...]
Keystone Realtors on Monday reported 82 per cent increase in consolidated net profit at Rs 76.59 crore for March quarter 2022-23 on better income. Its net profit stood at Rs 42.03 crore in the year-ago period. Total income of the Mumbai-based firm rose to Rs 357.63 crore from Rs 247.92 crore in the year-ago period, [...]
