Enforcement agencies under the Finance Ministry have attached immovable properties worth about Rs 1.11 lakh crore in the last six years, the ministry informed Parliament. Of this, in the current fiscal, immovable properties worth Rs 10,683 crore were attached by various central agencies viz ED, DRI (Directorate of Revenue Intelligence), Income Tax Department, etc. under [...]
Board of Power Finance Corporation (PFC), on Tuesday, gave its approval for raising around Rs 80,000 crores from domestic and foreign currency borrowings including bonds, term loans, and commercial paper, for the fiscal year 2023–24. The break up of the sources was discussed in the meeting and it is long-term domestic borrowing of ₹40,000 crores, [...]
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a [...]
JK Tyre & Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing. The investment by IFC in JK Tyre & Industries will part-finance the expansion of manufacturing capacities [...]
Prime Minister Narendra Modi on Wednesday said India is moving fast to become a big exporter of telecom technology from being only a user few years ago. Addressing a gathering after inaugurating the International Telecommunication Union (ITU) Area Office and Innovation Centre here, Modi said India is one of countries to have rolled out 5G [...]
Goyal Aluminiums Limited is engaged in the business of providing metal trading services. It offers aluminium sheets, coils, sections, and other aluminium products. The company has a plan to leverage its promoter networks in the Trading community of Delhi as well as to have a strong balance sheet situation in order to increase its presence in [...]
President Ranil Wickremesinghe told Parliament on Wednesday that the IMF bailout had restored Sri Lanka’s international recognition, ending the image of bankruptcy and helping the local banks regain foreign investors’ confidence. The IMF board had on Tuesday approved a USD 3 billion facility over a four-year period to help Sri Lanka emerge from its balance [...]
Shares of Ashiana Housing rose by 18.04% on Wednesday’s early trades to reach an intraday high of ₹ 168.50apiece after the company announced that its annual bookings surpassed the guidance of ₹ 1,100 crores for the financial year 2022-23. The company said that it has achieved an annual booking value of ₹ 1,278.84 crores (up [...]
Adani Airports chief Arun Bansal on Wednesday said the cost of operating airports has to come down by 30-50 per cent in the coming years as he highlighted the growth potential of the Indian aviation market. Currently, the company is operating seven airports and is building another one. Bullish on the Indian market, Bansal said [...]
India Meteorological Department (IMD) has forecasted a strong summer and there will be an increase in the demand and usage of fans, ACs, refrigerators, and similar appliances. Global brokerage Jefferies sees a huge upside in companies that manufacture and sell these appliances. "In our coverage, key sectors which could benefit from a good summer are [...]
