The government will set up a Centre for Processing Accelerated Corporate Exit (C-PACE) to process and dispose of applications for removal of company names from the records under the companies law. In a written reply to Lok Sabha on Monday, Minister of State for Corporate Affairs Rao Inderjit Singh said the centre will be established [...]
Pakistan has begun in-house consultations to decide whether to attend the Shanghai Cooperation Organisation (SCO) meetings of the defence and foreign ministers in India, a report said on Monday. New Delhi has already extended invitations to Defence Minister Khawaja Asif and Foreign Minister Bilawal Bhutto-Zardari. The defence ministers’ meeting is scheduled in April in New [...]
Mahindra Logistics Ltd on Monday said it will set up a new 1-million sq ft multi-client warehouse park in Talegaon, Pune, in association with industrial real estate developer Ascendas-Firstspace. With comprehensive connectivity, the entire development will be spread over three phases, with the first phase of 0.5 million sq ft to be operational by the [...]
State-owned Food Corporation of India (FCI) on Monday said wheat sale at discounted rates via e-auction to bulk consumers, institutions and state governments has been stopped for now as procurement of the fresh crop begins next month. Under the Open Market Sale Scheme (OMSS), the FCI has sold 33 lakh tonnes of wheat till March [...]
Air India Express, India's first international budget airline, on Monday said it has commenced operations from Goa International Airport, with four weekly direct flights on the Goa-Dubai route. The first flight IX 840 took off at 1:00 am on Monday with 148 passengers on board from Dabolim Airport. To mark the occasion, Aloke Singh, Managing [...]
Facing high aggregate technical and commercial (AT&C) losses in electricity distribution, Kashmir Power Development Corporation has initiated several measures, including disconnecting services to defaulters, to reduce the deficit. "As far as KPDCL is concerned, it has the highest AT&C losses in the country. I would say we are around 64 per cent," Chief Engineer KPDCL [...]
Vodafone Idea or Vi stares at a bleak future, including the possibility of "shutting shop" due to factors triggered by heightened competition, a domestic brokerage said on Monday. It also expects telecom companies to start hiking tariffs only after the general elections in June 2024 amid inflation staying above the RBI's upper tolerance level. In [...]
A parliamentary committee has stressed on the need for increasing the draft depth of almost all the ports of the country under the Sagarmala Programme according to their respective cargo profile. Increased draft depth helps ports handle larger vessels. In its latest report, the department-related parliamentary standing committee on transport, tourism and culture said that [...]
Several asset management companies (AMCs) have opened up subscription for international schemes to maximise inflows ahead of new taxation rules for debt mutual funds kicking in from April 1. The fund houses that resumed their international schemes are -- Franklin Templeton Mutual Fund, Mirae Asset Mutual Fund and Edelweiss Mutual Fund. Edelweiss Mutual has opened [...]
Four projects of Steel Authority of India Ltd (SAIL) worth Rs 2,338 crore are facing delay due to reasons like delayed placement of orders and supply of materials/equipment, Parliament was informed on Monday. However, there is no cost overrun in these projects, Union steel minister Jyotiraditya M Scindia said in a reply to Rajya Sabha. [...]
Despite the fact that electric vehicles are becoming increasingly popular in India, the hassle of charging the batteries is becoming a major inconvenience. A Surat-based startup identified this issue and responded by opening the first-of-its-kind "battery swapping center," where drivers of electric rickshaws and tempos can swap batteries without having to wait for their vehicles [...]
Shares of Butterfly Gandhimathi Appliances got mired and closed 4.71% lower at ₹ 1215.00 apiece on Monday after the company announced a merger with Crompton Greaves Consumer Electricals. Meanwhile, the shares of Crompton Greaves Consumer Electricals closed 0.46% higher at ₹ 295.10 apiece. According to the proposed scheme of merger, the public shareholders of Butterfly [...]
Global beverages major The Coca-Cola Company is bullish on the Indian market and is continuing to invest in the country through its partners, the company's President and Chief Financial Officer John Murphy said on Monday. India's rapid progress in infrastructure, electrification and digitisation offer a long runway ahead for the economy to grow and it [...]
Longer sunnier days have ensured that the performance of solar power farms improved to 75 per cent in the current fiscal from 59 per cent in the year-ago period, according to a report. Rating agency Crisil has prepared the report based on the performance of 115 solar projects aggregating to 4.6 GW of power generation [...]
Mortgage lender HDFC Ltd on Monday said its board has approved raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore. The board has cleared issuance of unsecured, redeemable, non-convertible debentures under a Shelf Placement Memorandum, aggregating Rs 57,000 crore, in various tranches, on a private placement basis, HDFC said in a [...]
As per the block deals data available on BSE, Ace investor Sunil Singhania-owned company Abakkus acquired a stake in ‘TTK Healthcare’ via open market transactions on 24th March. The company bought around 2.46 lakh equity shares in total with the Asset management firm ‘Abakkus Asset Manager LLP’ buying around 1.31 lakh equity shares at an [...]
Drug major Sun Pharma has said the IT security incident that happened earlier this month will impact revenues of some of its businesses. As part of the containment measures, the company proactively isolated its network and initiated the recovery process. "As a result of these measures, the company's business operations have been impacted. Consequently, revenues [...]
Shares of Tata Power Company, a part of the Tata Group, tanked 3.35% on Monday to reach a 52-week low of ₹ 184.45 apiece on Monday’s early trades. At 03:23 PM , its shares were quoting at ₹ 186.00 apiece. More than 2.22 crore shares changed hands on the counter. The scrip has been an [...]
Real estate sector has received an equity capital of USD 32 billion during the last five years and is expected to attract USD 12-13 billion during 2023-24 with office assets likely to garner maximum fund, according to CBRE. Real estate consultant CBRE has estimated that equity flows in real estate sector will remain steady with [...]
Equity benchmark Sensex climbed 126 points on Monday, propped up by buying in index heavyweights Reliance Industries, Maruti and SBI amid a higher opening in European equities. The 30-share BSE Sensex climbed 126.76 points or 0.22 per cent to finish at 57,653.86. During the day, it jumped 492.45 points or 0.85 per cent to 58,019.55. [...]
