The unemployment rate in Jammu and Kashmir declined from 6.7 per cent in 2019-20 to 5.2 per cent in 2021-22 while the urban unemployment rate dipped by 1.1 percentage points, according to the Economic Survey Report 2022-23. The report, released by Jammu and Kashmir Chief Secretary Arun Kumar Mehta recently, stated that the labour force [...]
The major commodities in which India has a trade deficit with China include electronic components, computer hardware, telecom instruments, industrial machinery for dairy and organic chemicals, Parliament was informed on Wednesday. Some of the services in which India has a trade deficit with China include construction, telecommunication, computer and information services, maintenance and repair services, [...]
India Grid Trust on Wednesday said it has commissioned its first battery energy storage system (BESS) project coupled with its solar panels at the Dhule substation in Maharashtra. The project will meet the substation’s auxiliary consumption requirement, a company statement said. It will not only "reduce our emissions but also act as a prototype for [...]
India's sugar production fell 3 per cent to 299.6 lakh tonnes in the first six months of the 2022-23 marketing year ending September, according to industry body ISMA. Sugar output stood at 309.9 lakh tonnes in the corresponding period of the previous year. The sugar marketing year runs from October-September. As per the data, sugar [...]
Shares of Cyient on Wednesday jumped 5 per cent in the mid-session trade after the IT company rejigged its top management. The stock of the firm zoomed 5.07 per cent in the mid-session trade at Rs 1,045 apiece on the BSE. During the intra-day trade, the stock touched its 52-week high of Rs 1,049.80 per [...]
An employees' association of Rashtriya Ispat Nigam Ltd has requested the government to direct SAIL to submit an expression of interest for the new business model proposed by the steel PSU. Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL) is exploring a business model wherein it will supply finished steel products to companies which will either fund [...]
Bandhan Bank’s total deposits in the fourth quarter of last fiscal stood at Rs 1,08,069 crore, registering a rise of 12.2 per cent over the same period a year ago, the private lender said. Loans and advances during the quarter ended March 31 was at Rs 1,09,112 crore, reflecting a year-on-year growth of 9.8 per [...]
With a market capitalization of ₹ 2,028 crores, Tips Industries is a small-cap company engaged in the business of production and distribution of motion pictures and the acquisition and exploitation of music rights. It is also a leading producer of Punjabi films in the country. At 12:26 PM on Wednesday, its shares were trading at [...]
Disney Star is continuing to sign up advertisers for the ongoing Tata IPL 2023, encouraged by the initial viewership of the T20 league on its television platform amid "unavoidable" competition from JioCinema which has the digital streaming rights, according to a senior company official. The company, which has the linear broadcast rights for Tata IPL, [...]
Three companies -- Cyient DLM, Healthvista India and Zaggle Prepaid Ocean Services -- have received Sebi's go- ahead to raise funds through initial public offering (IPO). The three companies, which filed their preliminary IPO papers with the regulator between July 2022 and January 2023, obtained its observation during March 29-31, an update with the Securities and [...]
The Foreign Trade Policy (FTP) for 2023 announced recently will further boost business sentiments to reach the aspirational target of India becoming a leader in exports, leading industry bodies said. Chairman of CII national committee on exports and imports Sanjay Budhia said that reduction in export performance threshold in the new FTP will enable exporters [...]
Smartr Logistics is expecting to raise USD 30 million in Series A funding round by August this year to drive its aggressive expansion plans which include adding pin codes and services offering among others, a top company executive has said. The city-based company is also eying a more-than-two-fold growth in its topline at Rs 200-250 [...]
Amp Energy India on Wednesday said it has bagged 1 GW capacity for integrating cell and module manufacturing under the government's performance-linked incentive (PLI) scheme. Solar Energy Corporation of India Limited (SECI) is a nodal agency of the central government for auctioning renewable energy projects. In a statement, Amp Energy India said subsidiary company AMPIN [...]
To promote entrepreneurship at the grass root level, banks have sanctioned more than Rs 40,700 crore to over 1.80 lakh beneficiaries under Stand-Up India Scheme in seven years. Stand up India Scheme, launched on April 5, 2016, with a focus on economic empowerment and job creation, has been extended up to 2025. The scheme aims [...]
Japanese auto major Honda Motor Co Ltd on Wednesday announced top management changes in its Indian two-wheeler arm with the appointment of Tsutsumu Otani as the President, CEO & Managing Director of Honda Motorcycle & Scooter India. Otani, also a Vice President at Honda Motor Co., Japan, will succeed Atsushi Ogata, who returns to Shanghai, [...]
The markets have been volatile this year due to global uncertainties fueled by the banking crisis and inflation. The collapse of the Silicon Valley Bank (SVB), Credit Suisse’s buyout by rival UBS, global inflation and continuing geopolitical tensions cast their shadow on the Indian markets. On a year-to-date basis, the Nifty 50 has declined by [...]
The government on Wednesday announced a plan to add 250 GW of renewable energy capacity in the next five years to achieve its target of 500 GW of clean energy by 2030. The government has decided to invite bids for 50 GW of renewable energy capacity annually for the next five years i.e., from Financial [...]
The Bombay High Court on Wednesday continued till further orders an interim stay on show-cause notice and penalty demand issued to industrialist Anil Ambani by the Income Tax department under the Black Money Act. A division bench of Justices Gautam Patel and Neela Gokhale posted Ambani's petition challenging the notice and penalty demand for hearing [...]
Shares of Railtel Corporation are trading at Rs 105.30 after gaining around 0.50 percent as compared to the previous closing price of Rs 104.85. This week, the stock has been able to gain around 7 percent. According to the filing over BSE, the company made an announcement regarding the receipt of a couple of work [...]
Billionaire Gautam Adani's Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday reported 9 per cent growth in cargo handling at seaports it operates for fiscal year ended March 31. At 339 million tonne, this is the largest port cargo ever, APSEZ said in a statement. The firm handled about 32 million tonne of [...]
