Enforcement agencies under the Finance Ministry have attached immovable properties worth about Rs 1.11 lakh crore in the last six years, the ministry informed Parliament. Of this, in the current fiscal, immovable properties worth Rs 10,683 crore were attached by various central agencies viz ED, DRI (Directorate of Revenue Intelligence), Income Tax Department, etc. under [...]
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a [...]
Board of Power Finance Corporation (PFC), on Tuesday, gave its approval for raising around Rs 80,000 crores from domestic and foreign currency borrowings including bonds, term loans, and commercial paper, for the fiscal year 2023–24. The break up of the sources was discussed in the meeting and it is long-term domestic borrowing of ₹40,000 crores, [...]
JK Tyre & Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing. The investment by IFC in JK Tyre & Industries will part-finance the expansion of manufacturing capacities [...]
Prime Minister Narendra Modi on Wednesday said India is moving fast to become a big exporter of telecom technology from being only a user few years ago. Addressing a gathering after inaugurating the International Telecommunication Union (ITU) Area Office and Innovation Centre here, Modi said India is one of countries to have rolled out 5G [...]
Goyal Aluminiums Limited is engaged in the business of providing metal trading services. It offers aluminium sheets, coils, sections, and other aluminium products. The company has a plan to leverage its promoter networks in the Trading community of Delhi as well as to have a strong balance sheet situation in order to increase its presence in [...]
President Ranil Wickremesinghe told Parliament on Wednesday that the IMF bailout had restored Sri Lanka’s international recognition, ending the image of bankruptcy and helping the local banks regain foreign investors’ confidence. The IMF board had on Tuesday approved a USD 3 billion facility over a four-year period to help Sri Lanka emerge from its balance [...]
Shares of Ashiana Housing rose by 18.04% on Wednesday’s early trades to reach an intraday high of ₹ 168.50apiece after the company announced that its annual bookings surpassed the guidance of ₹ 1,100 crores for the financial year 2022-23. The company said that it has achieved an annual booking value of ₹ 1,278.84 crores (up [...]
Adani Airports chief Arun Bansal on Wednesday said the cost of operating airports has to come down by 30-50 per cent in the coming years as he highlighted the growth potential of the Indian aviation market. Currently, the company is operating seven airports and is building another one. Bullish on the Indian market, Bansal said [...]
India Meteorological Department (IMD) has forecasted a strong summer and there will be an increase in the demand and usage of fans, ACs, refrigerators, and similar appliances. Global brokerage Jefferies sees a huge upside in companies that manufacture and sell these appliances. "In our coverage, key sectors which could benefit from a good summer are [...]
Finance minister Kailash Gahlot on Wednesday presented a Rs 78,800 crore budget in the Delhi assembly for the financial year 2023-24 with the announcement of nine schemes as part of the G-20 preparations. The Delhi government's budget size for 2022-23 was Rs 75,800 crore and Rs 69,000 crore in the preceding year. This was the [...]
Blue Star Limited, in a filing with the exchange today, announced that the Company has been successful in securing Railway Electrification orders which totals to about Rs 575 crores. The above order aids the company to expand its presence in the Railways segment and mark a foray into the Railway Electrification space. Being an existing [...]
Shares of Asian Energy Services rallied 9.92% on Wednesday’s early trades after the company bagged an order worth ₹ 165 crores for the operation and maintenance of a floating production storage and offloading system in Puducherry. At 12:02 PM, its shares were trading at ₹ 104.55 up 6.41%. According to an exchange filing, the company [...]
Mahindra & Mahindra on Wednesday said World Bank Group arm IFC will invest Rs 600 crore in a new unit of the company, which is being incorporated to scale up the last-mile electric mobility business. IFC is investing Rs 600 crore in a new last-mile mobility (LMM) company -- a wholly-owned subsidiary of Mahindra & [...]
Indian benchmark index BSE Sensex has fallen by 4.82% year-to-date (YTD) amid the ongoing weakness in the market due to heavy selling by foreign institutional investors and rising interest rates. The index was at 61167.79 points at the beginning of this year, however, it is currently at 58217.81 points. The movement in the Sensex helps [...]
A parliamentary panel has termed the opening of trapped underground coal reserves as a "right step" and said that the move will not only help in meeting the production of quality coal but will also reduce the import of dry fuel. The government has been taking several measures over the past to increase the domestic [...]
Vedanta Group firm Hindustan Zinc Ltd (HZL) on Tuesday said its board has approved a fourth interim dividend of Rs 26 per equity share or 1,300 per cent for FY2022-23 amounting to Rs 10,985.83 crore. This takes the Udaipur-based Hindustan Zinc's total payout to shareholders at a record Rs 32,000 crore this fiscal, making it [...]
Unlike the global economy which is risk of recession, India would not slow down and maintain the pace of expansion achieved in 2022-23, said the RBI bulletin on Tuesday. Even as global growth is set to slow down or even enter a recession in 2023 as global financial markets wager, India has emerged from the [...]
The Department of Telecom has sought Rs 33,111 crore for payment of adjusted gross revenue dues of state-run BSNL which is likely to be made in the upcoming April-June quarter, according to a Parliamentary panel report. In a submission to the Standing Committee of Communications and Information Technology, the Department of Telecom shared that against [...]
Tata Power Renewable Energy Ltd (TPREL) on Tuesday said it has received a letter of award from MSEDCL to set up a 200 MW solar project in Solapur, Maharashtra. The letter of award has been received from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project will be commissioned within 18 months from the [...]
