State-owned SAIL has produced a record 18.28 million tonnes (MT) of crude steel during financial year 2022-23, registering a year-on-year rise of 5.3 per cent. The production of hot metal also rose by 3.6 per cent to 19.40 MT during the financial year ended March 31. In a statement, the Steel Authority of India (SAIL) [...]
Odisha Chief Minister Naveen Patnaik will Monday embark on a week-long tour to Japan in a bid to attract investments for the eastern state in various sectors, officials said. During the visit, Patnaik is likely to attend programmes in Tokyo, Kyoto and Osaka and return on April 9, they said. “We are optimistic about wooing [...]
The Reserve Bank of India on Monday appointed Neeraj Nigam as executive director (ED) who will look after four departments, including that of consumer education and protection. Prior to being promoted as ED, he was heading the Bhopal regional office of the RBI as director. Nigam has, over a span of more than three decades, [...]
Pakistan's Finance Minister Ishaq Dar will be leading a high-powered delegation to the US to attend the annual spring meeting of the IMF and the World Bank and for talks with officials which can help the cash-strapped country to ink a much-needed USD 1.1 billion bailout with the IMF. Dar along with an official delegation [...]
Semiconductor company Renesas is exploring local production of chipsets that the company is developing in partnership with leading software company TCS, a senior official of the company said. Last month, Tata Consultancy Services (TCS) and Renesas Electronics Corporation (Renesas) opened a joint Innovation Center in Bengaluru and Hyderabad to jointly develop semiconductor chipsets for wireless [...]
Ron Malka, former envoy of Israel to India, has said that he has assumed charge as the Executive Chairman of the Haifa Port Company (HPC) owned by a consortium led by the ports-to-energy conglomerate Adani Group. A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israel's Gadot Group won the tender in July [...]
IFL Enterprises Ltd stock opened its trading hour today at Rs 167.80 and is currently trading at a price of Rs 167.20. The stock showed an upside movement of around 3.5 percent in comparison to the previous closing price of Rs 161.25. The company recently announced a 1:10 stock split and a 1:4 bonus issue. [...]
Manufacturing activities in India touched a three-month high in March boosted by faster expansions in new orders and output amid demand resilience and easing of cost pressures, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest [...]
Adani Ports and Special Economic Zone Ltd (APSEZ) on Saturday said it has completed the acquisition of Karaikal Port Pvt Ltd (KPPL) pursuant to National Company Law Tribunal (NCLT) approval. Earlier, APSEZ was declared a successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of KPPL. Karaikal Port is an all-weather deep-water port in [...]
Nine of the top 10 valued firms together added Rs 2,34,097.42 crore in market valuation amid a positive trend in equities last week, with Reliance Industries emerging as the biggest gainer. The 30-share BSE benchmark jumped 1,464.42 points or 2.54 per cent in a holiday-shortened last week. Equity markets were closed on Thursday on account [...]
After pulling out funds in the past two months, Foreign investors have invested Rs 7,936 crore in the Indian equities in March mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners. However, if one adjusts for the investments of GQG in Adani Group, the net flow is still negative, [...]
Steel, power and cement companies have bagged a sizable number of blocks auctioned under the sixth round of commercial coal auctions. As per an official note, JSW Steel has won Banai and Bhalumunda mines in Chhattisgarh, another block Parbatpur Central and Sitanala mines in Jharkhand, while JSW Cement bagged Marwatola - VI mine in Madhya [...]
Adani Group and French company TotalEnergies' newly built Rs 6,000 crore LNG import facility at Dhamra on the Odisha coast has received its first ever shipment of liquefied natural gas - a fuel that will be used to make steel, produce fertilizers and turned into CNG and cooking gas, helping change the landscape of Eastern [...]
India's power consumption dipped 0.74 per cent to 127.52 billion units (BU) in March this year for the first time in 31 months, according to government data. The contraction in power consumption is mainly because of widespread rains due to western disturbances in the country and low temperature in March. Last contraction in power consumption [...]
Higher yields on bonds, lack of new launches, limited availability and awareness among investors have made emerging investment instruments REITs and InvITs less attractive with fundraising hitting an all-time low at Rs 1,166 crore in 2022-23. Going forward, a change in the tax rule on distributions classified as repayment could lead to a substantial increase [...]
India's fuel demand rose in March as a pick-up in agriculture activity helped reverse a slowdown that was witnessed in the first half of the month, preliminary industry data showed on Sunday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport [...]
Damodar Valley Corporation achieved the “highest” power generation in its 75 years of existence, with a 6.5-per cent on-year rise in 2022-23 to 43.32 billion units, which mostly came from thermal sources, company officials said. It also registered a robust 29 per cent growth in power sales to Rs 24,432 crore in 2022-23 over the [...]
The government may consider a 0.3 per cent uniform digital payment facilitation fee to fund the infrastructure required for such transactions and also to ensure financial viability of the UPI payment system, suggested a study by IIT Bombay. The facilitation fee of 0.3 per cent can generate around Rs 5,000 crore in 2023-24, said the [...]
Demanding the Centre not to privatise RINL, the corporate identity of Visakhapatnam Steel Plant in Andhra Pradesh, BRS working president and Minister K T Rama Rao on Sunday wrote an open letter to the Union government requesting it to release Rs 5,000 crore to the steel maker. KTR said the BRS party vehemently opposes the [...]
The IL&FS Group has so far paid back Rs 29,000 crore to the secured creditors, with the latest being an interim pay-out of Rs 920 crore for the Chenani Nashri Tunnelway, a subsidiary of IL&FS Transportation Network. Chenani Nashri Tunnelway (CNTL) had a secured debt of around Rs 5,500 crore and the interim payout takes [...]
