Icra on Wednesday revised its outlook for domestic steel demand to 7-8 per cent for the next fiscal. Earlier, the ratings agency had estimated the demand to grow in the range of 6-7 per cent. "With the central government's capex outlay in FY2024, Icra has revised upwards its steel consumption growth estimate for FY2024 to [...]
Indian Bank is a mid-sized bank that was started in 1907. It is involved in the business of offering deposits, loans and other associated services. There are various segments in the Bank and some of them include the Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. Corporate loans account for about 44% of the [...]
Power Finance Corporation has inked a pact with Japan Bank for International Cooperation (JBIC) for a project loan of JPY 2.65 billion or about Rs 165 crore. Under this facility, JBIC has proposed to finance some of PFC's projects which ensure effective reduction of greenhouse gas emissions and conservation of the global environment. This pact [...]
Gautam Adani's fortunes have suffered a severe setback on concerns over corporate governance and accounting fraud, leading to Reliance Industries' Mukesh Ambani replacing the Ahmedabad-based industrialist as the richest Indian. Adani lost Rs 3,000 crore of wealth every week over the last year and his overall networth is down 60 per cent from its peak, [...]
Sizeable equity commitments in under-construction projects and rising working capital needs will increase the debt burden of road developers but revenue growth is set to remain high, driven by strong contract awards and execution in the next fiscal, according to a report. Besides, a high budgetary allocation to the sector will also help road developers, [...]
Chemicals maker Anupam Rasayan India Ltd on Wednesday signed a memorandum of agreement with the Gujarat government for setting up three new plants in Surat and Bharuch with an investment of Rs 670 crore. The company aims to commission these plants before 2025. "The investment of Rs 670 crore is in line with the strategic [...]
For getting tubewell connection, preference will be given to the farmers adopting micro-irrigation techniques, Haryana Chief Minister Manohar Lal Khattar said on Wednesday. He said that to ensure optimum utilisation of available water, the government has decided to give preference to farmers adopting micro-irrigation while issuing tubewell connections. He, however, said that it is not [...]
Adani Airports on Wednesday said there is no rethink on the pace of expansion and it was following the investments as per plans submitted to the government, amid the parent group facing certain challenges in recent times. The comments from company's CEO Arun Bansal come against the backdrop of Adani Group facing challenges in the [...]
India's top oil company IOC will invest Rs 61,077 crore in building a petrochemical complex at Paradip in Odisha - its largest ever investment at a single location - as it doubles down on its transition plan. In a statement, Indian Oil Corporation (IOC) said its board has given "Stage-1 approval for setting up Paradip [...]
Mahindra & Mahindra Ltd (M&M) is in advanced talks with global investors to raise money in the range of $1 - 1.3 billion by way of selling shares in its electric vehicles (EV) unit. This move is mainly aimed to accelerate the expansion plans of its subsidiary “EV Co”. Apart from the talks going on, [...]
