The government is in the process of developing a portal for monitoring and expediting clearances for newly allocated coal blocks, Coal Secretary Amrit Lal Meena said on Wednesday. The secretary along with Additional Coal Secretary and Nominated Authority M Nagaraju held an interaction with the representatives of captive and commercial coal block allottees to discuss [...]
Mutual funds have mostly trimmed their stakes in Adani Group companies after the Hindenburg Report, however, the Life Insurance Corporation of India (LIC) has upped its stake in four companies of the group in the January to March quarter of 2023 (Q4FY23), amid the massive sell-off. LIC has increased its stake in Adani Green Energy, [...]
Software major Tata Consultancy Services on Wednesday reported a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter of last fiscal against Rs 9,959 crore in the year-ago period. The country's largest technology services company by market value said its revenue rose 16.9 per cent to Rs 59,162 crore [...]
India has retained the Category I status under the Federal Aviation Administration's international aviation safety programme, regulator DGCA said on Wednesday. FAA under its International Aviation Safety Assessment (IASA) programme determines whether a country's oversight of its air carriers that operate or seek to operate, into the US or codeshare with a US air carrier [...]
Reliance Jio has slammed Bharti Airtel for filing a complaint with telecom regulator over live TV channels offering with JioFiber, saying the rival company's sole grouse was the reasonable tariffs of JioFiber. Jio dubbed charges made by Airtel as "deliberate malicious attempt to defame" RJIL's consumer-friendly tariffs to protect "narrow interests". Jio in a letter [...]
Brokerage house Zerodha on Wednesday said it has formed a joint venture with Amazon-backed wealth management firm smallcase to build an asset management company. The capital markets regulator Sebi's approval has already been received for setting up the joint venture. "While awaiting the final approval of our AMC (mutual fund), we asked if we should [...]
External Affairs Minister S Jaishankar has said the Russia-Ukraine war has prompted India, the world's biggest importer of edible oil, to look for alternative sources of sunflower oil in Latin American countries. Addressing a business event here in the Ugandan capital on Tuesday, Jaishankar said India was a big importer of sunflower oil from Ukraine [...]
India is expected to have a stable debt-to-GDP ratio going forward, a senior official from the International Monetary Fund said on Wednesday and recommended rationalization and simplification of Goods and Services Tax (GST). According to Paolo Mauro, Deputy Director of the IMF Fiscal Affairs Department, there will be a gradual resumption of the rise in [...]
The government's decision to limit prices of domestic natural gas from legacy fields to between USD 4-6.5 per million British Thermal Unit (mmbtu) will support margins for city gas distributors, encourage the use of gas, and reduce cash flow volatility for upstream producers, Fitch Ratings said on Wednesday. "We expect a partial pass-through of the [...]
Sugar trade body AISTA on Wednesday demanded that the government should increase the minimum selling price of sugar as the sweetener is being sold at lower than the cost of production in the country. Minimum selling price of sugar has been kept unchanged at Rs 3,100 per quintal since 2019 even though the fair and [...]
