India's largest gas firm GAIL has won a nod of the country's bankruptcy court to acquire insolvent private-sector chemical company JBF Petrochemicals Ltd for Rs 2,079 crore, helping the state-owned firm expand its footprint in the petrochemical business. In a stock exchange filing, GAIL (India) Ltd said the Ahmedabad bench of the National Company Law [...]
Adani Transmission Ltd has been recognised as a 'single-use plastic-free' company by the Confederation of Indian Industry-ITC Centre of Excellence for Sustainable Development. The company has been certified for its successful voluntary implementation of single-use plastic-free measures within its 37 operational locations spread across 10 states of the country. This certificate is valid from February [...]
Federal Bank on Wednesday said its board will meet on March 18 to decide on a proposal to raise up to Rs 1,000 crore by issue of debentures. The bank's board will meet in Kochi to discuss the proposal to raise funds by way of issue of unsecured Basel III Tier-II Subordinate Bonds in the [...]
Equitas Small Finance Bank on Wednesday said it has partnered T20 cricket team Royal Challengers Bangalore (RCB) for the 2023 season of the T20 league. The RCB team will don the Equitas Small Finance Bank logo on the lead trousers as part of the team's jersey. "Equitas Small Finance Bank partners with India's most beloved T20 [...]
India's edible oil imports rose 12 per cent year-on-year in February to 10.98 lakh tonnes on higher imports of crude palm oil, according to industry body SEA. In a statement, the Solvent Extractors' Association of India (SEA) on Wednesday said that edible oil imports rose to 10,98,475 tonnes in February from 9,83,608 tonnes in the [...]
State-owned aerospace and defence company Bharat Electronics Limited (BEL) has announced the record date for the second interim dividend. Its shares were trading at ₹ 93.45 apiece at 02:56 PM on Wednesday. According to an exchange filing, the company has announced a dividend of 450.00% on the face value of its shares of ₹ 1. [...]
Benchmark BSE Sensex trimmed all its early gains to close down by 344 points at a five-month low on Wednesday due to heavy selling in banking, financial and telecom stocks as lingering concerns over banks' health and high inflation dented sentiments. Besides, persistent foreign capital drain from the domestic market and the sliding rupee kept [...]
Three companies, including the state-run Steel Authority of India, have submitted bids to the Indian Railways to set up a manufacturing facility that will supply 80,000 wheels of various types per annum for the next 20 years to the national transporter. The two other companies which have shown interest in setting up the facility are: [...]
Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its equity stake in state-owned NMDC, taking its total shareholding in the public sector unit to 11.69 per cent as of March 14. In a regulatory filing, LIC said its holding in NMDC has decreased from 13.69 per cent to 11.69 [...]
As many as 725 road projects of the total 1,801 ongoing projects are running behind the schedule across the country as of February 2023 due to protracted monsoon in many states and above-average rainfall in some states, Union minister Nitin Gadkari said on Wednesday. The Road Transport and Highways Minister in a written reply to [...]
