Thousands of employees of three state-owned power companies went on a 72-hour strike on Wednesday to protest against the privatisation of power firms even as the government invoked the Maharashtra Essential Services Maintenance Act (MESMA), a leader from the employees' union said. The government has asked the officials concerned to take all necessary steps to [...]
The Bombay High Court on Tuesday granted the Central Bureau of Investigation (CBI) time till Friday to file its reply to the plea of former ICICI Bank Chief Executive Officer and MD Chanda Kochhar and her businessman-husband Deepak Kochhar, challenging their arrest in an alleged loan fraud case. The Kochhar couple has moved the HC [...]
The government has exempted public sector entities from the Minimum Public Shareholding (MPS) norm which mandates at least 25 per cent public float for all listed companies. The exemption would apply on these entities regardless of the government's direct or indirect holding. The exemption from MPS norm will be valid for a "specified period" even [...]
PTC India Financial Services Limited (PFS) on Tuesday said its shareholders have approved the reappointment of Pawan Singh as the Managing Director and Chief Executive Officer (CEO) of the company. The approval was accorded at the company's annual general meeting (AGM) held on Friday, PFS said in a statement. "One of the major decisions taken [...]
State-owned ONGC's vintage offshore drilling rig 'Sagar Samrat' has a new role -- as a mobile production unit that started doing its job last month, the company said on Tuesday. The rig, which had outlived its sell-by date, was refurbished into a mobile offshore production unit (MOPU), capable of bringing to surface oil and gas [...]
The shares of HFCL Limited were trading 2 percent higher till the afternoon of Tuesday at Rs 76 levels. The stock was in focus today after it received orders worth Rs 95.38 crores from Reliance Projects & Property Management Services Limited. The Company along with its material subsidiary, HTL Limited, has received the Purchase Orders [...]
Rating agency Icra on Tuesday revised its growth estimates for the Indian road logistics sector to 11-13 per cent for the current fiscal against the previous estimate of 7-9 per cent. The rating agency said the growth is supported by a strong demand environment, coupled with the continuation of firm freight rates, also supported by [...]
Outstanding loan portfolio of the micro-finance institution (MFI) sector across India will increase around 20.3 per cent at Rs 3.25 lakh crore in 2022-23 compared to the previous fiscal, said the MFIN, a self-regulatory organisation (SRO) recognised by RBI. During the last fiscal, the total outstanding of the MFI sector was Rs 2.7 lakh crore, [...]
The net profit of operating public sector enterprises jumped 50.87 per cent to Rs 2.49 lakh crore during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers, according to a government survey. The net profit of operating central public sector enterprises (CPSEs) stood at Rs 1.65 lakh [...]
The Centre on Monday raised the windfall tax levied on domestically produced crude oil as well as on the export duty of diesel and ATF, in line with escalating international oil prices. According to a notification issued by the Central Board of Indirect Taxes and Customs, on January 02, 2023, the windfall tax on crude [...]
