GVK Group Vice Chairman Sanjay Reddy on Tuesday said there was absolutely no pressure from the Adani Group or anyone else to sell the Mumbai airport. His comments come on a day when Congress leader Rahul Gandhi alleged in Lok Sabha that "Mumbai airport, was taken away from GVK using agencies such as the CBI [...]
Lauding the private sector contribution in defence manufacturing, Chief of Defence Staff (CDS) General Anil Chauhan on Tuesday said India has the potential to emerge as a superpower in making military equipment and has displayed wherewithal to develop big and complex platforms. Referring to the inauguration of Hindustan Aeronautics Ltd's new helicopter factory -- India's [...]
The Ramco Cements on Tuesday reported a 31.93 per cent decline in consolidated net profit to Rs 51.21 crore for the third quarter that ended on December 31, 2022, on account of a rise in fuel prices. The company had reported a net profit of Rs 75.24 crore in the October-December period a year ago, [...]
Moody's Investor Service on Tuesday said banks' exposures to Adani are not large enough to affect their credit quality materially. "While we estimate that the exposures are larger for public sector banks than for private sector banks, they are smaller than 1 per cent of total loans for most banks," it said. "Risks for banks [...]
Ambuja Cements, now part of the Adani Group, on Tuesday reported a 13.2 per cent increase in its consolidated net profit to Rs 487.88 crore for the December quarter of 2022-23. The company had clocked a net profit of Rs 430.97 crore in the year-ago quarter, Ambuja Cements said in a BSE filing. Its revenue [...]
Registrar and transfer agent of mutual funds Computer Age Management Services Ltd (CAMS) on Tuesday reported 4.6 per cent drop in profit after tax to Rs 73.72 crore for the three months ended December 2022. In comparison, the company had posted a profit after tax (PAT) of Rs 77.31 crore in the year-ago period, CAMS [...]
Electric passenger vehicles retail sales declined by 10.51 per cent sequentially to 3,346 units in January 2023 over 3,739 vehicles sold in December last year, according to automobiles body FADA. Tata Motors's electric PV sales were down 17 per cent at 2,426 vehicles in January as against 2,926 units delivered in December 2022. MG Motor [...]
The Directorate of Enforcement has attached proceeds of crime worth Rs 859.15 crore generated by accused persons/entities through illegal loan apps, Minister of State for Finance Bhagwat Karad said on Tuesday. Further, assets amounting to Rs 289.28 crore have been seized under the Foreign Exchange Management Act, 1999. In a written reply to a query [...]
India's leading plywood maker Century Plyboards (India) Ltd on Tuesday reported a standalone net profit of Rs 81.36 crore in the third quarter ended December 2022, a 16 per cent decline compared to a net profit of Rs 97.27 crore a year ago. the company reported a 3 per cent growth in revenue to Rs [...]
The power ministry has asked the Punjab power utility PSPCL to start lifting 15-20 of its domestic coal requirement through rail-ship-rail mode, while highlighting that the transport of dry fuel would be cheaper than the import of coal. The ministry in a letter to Punjab State Power Corporation Ltd (PSPCL) stated that the transport of [...]
