New Delhi, Apr 29 (PTI) The Finance Ministry on Friday said Star9 Mobility Pvt Ltd will buy the government's 51 per cent stake in helicopter services provider Pawan Hans Ltd (PHL), along with the transfer of management control, for Rs 211.14 crore. The reserve price for the strategic sale, which comes after three unsuccessful attempts, [...]
Jaipur, Apr 29 (PTI) Rajasthan Governor Kalraj Mishra on Friday called for conservation, propagation of indigenous breeds of cattle in the state and speeding up research and development of cow-based products. He said that in order to increase the income of cattle owners, it is necessary that they should get the benefit of research and [...]
New Delhi, Apr 29 (PTI) The Directorate of Revenue Intelligence has seized 4 bags containing opiate derivative/heroin weighing 395 kg at Pipavav port in Gujarat, the Finance Ministry said in a statement on Friday.Acting on intelligence jointly developed by DRI and ATS Gujarat, a container was examined by DRI at Pipavav port in the presence [...]
New Delhi, Apr 29 (PTI) Ambuja Cements Ltd, part of Swiss building material major Holcim group, plans to increase cement capacities and move closer to its target of 50 million tonnes per annum in the near future. "Ambuja has ambitious growth plans to increase cement capacities. The company is well-positioned to meet the expanding demand, [...]
Mumbai, Apr 29 (PTI) Citing a steep hike of 110 per cent in the cost of natural gas supplies, city gas distributor MGL on Friday increased the retail price of automobile fuel CNG by Rs 4 per kg but left the rate of cooking gas unchanged. This is the third hike in the price of [...]
Coimbatore (TN), Apr 29 (PTI) Cellex Battery Systems Pvt Ltd, a Coimbatore-based startup, is set to launch its advanced energy storage solution that will enter the commercial market in June this year. As part of Phase-1, Cellex plans to set up state-of-the-art energy storage solutions manufacturing facility in the city together with development of an [...]
New Delhi, Apr 29 (PTI) The Rs 1,581-crore initial public offer of Rainbow Children's Medicare was subscribed 12.43 times on the last day of subscription on Friday. It received bids for 25,49,03,787 shares against 2,05,14,617 shares on offer, according to data available with the NSE. The category for Qualified Institutional Buyers (QIBs) got subscribed 38.90 [...]
New Delhi, Apr 29 (PTI) India Ratings and Research (Ind-Ra) on Friday said it has maintained a neutral outlook for the domestic base metals sector for the financial year 2022-23. Ind-Ra had upgraded its outlook for the sector to stable for 2021-22 fiscal, from negative in 2020-21. The ratings agency said it "has maintained a [...]
New Delhi, Apr 29 (PTI) British FMCG major Reckitt's revenue from developing markets increased 5.7 per cent, helped by higher growth in India and China, among other areas, in the first quarter this year.While its toilet cleaner Harpic continued to register "strong growth" in the Indian market, helping the brands to report a 'high-single-digit' rise [...]
Bhubaneswar, Apr 29 (PTI) National Bank for Agriculture and Rural Development said on Friday that it disbursed Rs 31,786 crore of loans in Odisha during the 2021-22 fiscal, an increase of 40 per cent over the previous year.The financial support comprised Rs 14,077 crore to banks for lending towards crop and term loans, and Rs [...]
Indore, Apr 29 (PTI) To attract investment in electric vehicles manufacturing in Madhya Pradesh, the state government will reimburse the cost of basic infrastructure and product patents to EV units, Chief Minister Shivraj Singh Chouhan said here on Friday. The state government will soon present its new investment promotion policy for the units producing EVs [...]
Mumbai, Apr 29 (PTI) Gurugram-based packaging materials manufacturer GLS has roped in Norwegian firm Elopak to form an equal joint venture collectively investing 35 million euros to help augment sustainable packaging solutions in the domestic market. The joint venture GLS Elopak will leverage the respective expertise, assets and networks of GLS and Elopak to capitalize [...]
New Delhi, Apr 29 (PTI) LIC IPO pricing is very attractive and investors can look forward to returns in the years to come as the company has potential for growth, LIC Chairman MR Kumar said on Friday.More than the embedded value one should look at the value for new business (VNB) going forward, and it [...]
New Delhi, Apr 29 (PTI) The production growth of eight infrastructure sectors slowed down to 4.3 per cent in March due to a decline in the output of coal and crude oil, though for the full 2021-22 fiscal, the core sector recorded a 10.4 per cent expansion, according to official data released on Friday. The [...]
New Delhi, Apr 29 (PTI) The Delhi High Court has restrained Booking.com and Google from using the mark 'MakeMyTrip' as a keyword on the search engine's Ads Program. The high court said that allowing competitors and Google to encash upon the reputation of another entity's mark for their monetary advantage is not permissible. Justice Prathiba [...]
New Delhi, Apr 29 (PTI) Inox Wind on Friday said its arm Inox Green Energy Services Ltd (IGESL) has decided to withdraw its proposed Rs 740 crore initial share sale offer. The Initial Public Offering (IPO) was slated to issue fresh shares worth Rs 370 crore, besides an Offer for Sale (OFS) of equity stocks [...]
New Delhi, Apr 29 (PTI) RBL Bank on Friday said its board has approved to raise up to USD 100 million by issuing US dollar denominated bonds. The board of directors of RBL Bank, at its meeting held on Friday, accorded its approval to raise or borrow monies by issue of USD denominated unsecured Tier [...]
Mumbai, Apr 29 (PTI) Tata Chemicals on Friday reported a multi-fold jump in consolidated profit after tax at Rs 470.24 crore for the quarter ended March. The company's profit after tax stood at Rs 29.26 crore in the year-ago period, According to a regulatory filing, the consolidated income from operations grew 32 per cent during [...]
New Delhi, Apr 29 (PTI) The Finance Ministry will discuss with market regulator Sebi to exempt LIC from the minimum public shareholding norm, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Friday.Under the Sebi's minimum public shareholding norms, listed entities with a valuation of over one lakh crore need [...]
Mumbai, Apr 29 (PTI) The Portugal government has opened its doors for tourists from India who will be required to present a negative RT-PCR test 72 hours before boarding, Visit Portugal said on Friday. Visitors arriving on the mainland Portugal from India, will be required to present a negative RT-PCR Test (or similar NAAT test) [...]
