Domestic cable and wire industry has urged the government to introduce strict laws to discourage the use of counterfeit electrical products by real estate developers. In the last decade, deaths due to electrocution have increased in the country. During a fire outbreak, smoke inhalation kills more people than the fire itself, R R Kabel Managing [...]
A Kotak Mahindra Bank arm on Wednesday announced a Rs 1,070 crore investment in Biocon to help a subsidiary of the Bengaluru-based company in an acquisition. The Kotak Special Situations Fund (KSSF) investment will help Biocon Biologics' acquisition of the biosimilars business of its partner Viatris, according to an official statement. In November 2022, Biocon [...]
Capital markets regulator Sebi has proposed allowing mutual funds to introduce five new categories under ESG (environmental, social and governance) scheme. The five new categories should be exclusions, integration, best-in-class and positive screening, impact investing and sustainable objectives. Presently, mutual funds can launch only one ESG scheme under the thematic category of equity schemes. Considering [...]
The Indian government on Tuesday said that India will provide an additional two million tonnes of wheat to bulk consumers such as flour millers, in order to lower prices which jumped to a record high last month. This allocation will be over and above the allocation of 3 million tonnes announced last month and it [...]
Patel Engineering on Wednesday said it has bagged a water tunnel and an irrigation project totalling Rs 1,026 crore in Maharashtra and Karnataka. With the latest contract, the company's total order book has increased to Rs 18,600 crore, Patel Engineering said in a statement. "Patel Engineering declared L1 (lowest bidder) for a water tunnel project [...]
Foreign direct investment (FDI) into India declined by 15 per cent to USD 36.75 billion during the April-December this fiscal, according to the latest Department for Promotion of Industry and Internal Trade data. The FDI inflows stood at USD 43.17 billion during the corresponding period of the previous year. The total FDI inflows, which includes [...]
HDFC Bank, a major private sector bank, and UAE-based Lulu Exchange have signed an MoU to strengthen cross-border payments between India and the Gulf Cooperation Council (GCC) region. In the first phase of the partnership, Lulu Exchange's expertise and regulatory framework would be utilised to launch a digital inward remittance service titled 'RemitNow2India'. That will [...]
Benchmark Sensex plunged by 927 points to close at a three-week low while the broader Nifty settled at a four-month low on Wednesday amid weak global trends as investors braced for the release of the Federal Open Market Committee minutes later in the day. Falling for the fourth day in a row, the BSE Sensex [...]
The Uttar Pradesh government on Wednesday presented the budget FY24 with an aim to lay the foundation for a self-reliant Uttar Pradesh and focus on the all-around development of the state for making it a USD 1 trillion economy. The budget of Rs 6,90,242.43 crore for FY24 was the biggest in the state's history. "This [...]
The Uttar Pradesh government on Wednesday proposed Rs 750 crore for maintenance of stray cattle and allocated Rs 120 crore for establishment of cow protection centres. The state Budget for 2023-24 also proposed 17,000 'Kisan Pathshalas' and allocated funds for subsidised electricity supply to private tube wells and agriculture universities. Out of 187 proposed cow [...]
