Tyre maker CEAT Ltd on Monday said its Managing Director and CEO Anant Goenka has resigned to focus on group activities and has been named as its Vice Chairman. The company's board has also approved the appointment of Arnab Banerjee, currently Chief Operating Officer, as its new MD and CEO. Goenka expressed his desire to [...]
Outstanding dues payable by power producers to Coal India for fuel supplies have increased by Rs 3,293.50 crore to Rs 16,629.41 crore since March 31, 2022, Parliament was informed on Monday. "The outstanding dues payable by power sector for the coal sales by Coal India Ltd (CIL)" were Rs 13,335.91 crore as of March 31 [...]
Nine out of ten listed companies of the Adani group closed with losses on Monday, snapping two-day of gains amid an across-the-board sell-off in the broader market. While some Adani stocks hit their lowest circuit prices, flagship Adani Enterprises Ltd declined 3.84 per cent to close at Rs 1,805.10 on BSE. The flagship commanded a [...]
The integration of Air India Express and AirAsia India is expected to be complete by the end of next financial year and the merged entity will have "enormous growth opportunities" in the coming years, according to a top executive. Air India, Air India Express, Vistara and AirAsia India, now rebranded as AIX Connect are part [...]
The Gujarat government on Monday announced in the state Assembly that minimum wages given to skilled, semi-skilled and unskilled labourers have been increased by nearly 25 per cent -- up to more than Rs 2,400 per month -- a hike coming after a gap of nine years. The announcement about the increase in minimum wages, [...]
Mahindra & Mahindra on Monday said it has fully acquired MITRA Agro Equipments Pvt Ltd for an undisclosed amount. The company's Farm Equipment Sector (FES) has increased its stake in MITRA Agro Equipments Pvt Ltd (M.I.T.R.A) to 100 per cent from the existing 47.33 per cent. As part of the acquisition, Mahindra has fully bought [...]
The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday. In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary [...]
Union Power Minister R K Singh on Monday urged electricity consumers to use smart prepaid meters, saying the device helps users bring down power cost by up to 2 per cent. Installation of smart prepaid meters reduces the operational and finance cost for electricity suppliers as consumers credit their account in advance, the minister said [...]
The Finance Ministry has asked central public sector undertakings (CPSUs) to issue letters of comfort (LoCs) on the basis of their own financial strength so that no liability devolves on the Government of India. The Office Memorandum dated March 20, 2023, has been issued following a request from some CPSUs in the oil and power [...]
The Tamil Nadu government has reduced the annual revenue deficit by about Rs 30,000 crore in the revised estimates of the current year, from about Rs 62,000 crore inherited when the DMK assumed office nearly two years ago, Finance Minister Palanivel Thiaga Rajan said on Monday. Presenting a tax-free budget for 2023-24 in the Assembly, [...]
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Three-wheeler maker Atul Auto’s shares rallied 6.30% on Monday’s intraday trade to reach a high of ₹ 341.00 apiece after ace investor Vijay Kedia increased his stake in the company by 7.05%. The company’s shares closed 5.36% higher at ₹ 338.00 apiece on Monday’s closing bell. Vijay Kedia, who is also a director at Atul [...]
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Artemis Electricals and Projects Ltd started its trading session today at Rs 106.90 and since then the same has been in a 5 percent upper circuit. Having a purview of a month, the stock has proven to deliver to its stakeholders a return of around 41.3 percent ranging from Rs 75.65 to the current price [...]
Market heavyweight Reliance Industries shares are on a downtrend and slipped for the eighth session in a row, marking its longest losing streak since March last year. Its shares fell 1.93% on Monday’s trades to reach a 52-week low of ₹ 2180.00 apiece on the National Stock Exchange (NSE). Its shares were trading at ₹2191.60 [...]
Benchmark Sensex declined by 360 points while the Nifty closed below the 17,000-level on Monday due to a sell-off in financials, IT and capital goods shares amid a global rout in equities on lingering worries over the banking crisis. The 30-share BSE Sensex declined by 360.95 points or 0.62 per cent to close at 57,628.95 [...]
The PepsiCo Foundation on Monday said it will invest USD 4,00,000 in partnership with Pandit Jagat Ram Memorial FORCE Trust to expand its safe water access and sustainable sanitation programme in Mathura, Uttar Pradesh. This initiative is aligned with the three priority campaigns of the central government: the Jal Jeevan Mission, Jal Shakti Mission and [...]
Westlife Foodworld Ltd, which operates McDonald's restaurants in west and south India, has announced the elevation of Saurabh Kalra as the Managing Director (MD). Prior to this, Kalra was the Chief Operating Officer (COO) and now in his new role, he will focus on the overall business strategy and growth opportunities, said a statement. Kalra [...]
Positive policy moves by the new and renewable energy ministry can crank up the annual wind capacity addition by 6-8 gigawatt (GW) from fiscal 2026, around 4 times more than 1.6 GW of growth clocked in the past five fiscals, a report said. According to a Crisil analysis, the aggressive tariff bids in reverse auctions [...]
No instructions have been given to banks for filling or not filling Rs 2,000 notes in Automated Teller Machines (ATMs) as lenders make their own choice for loading of cash vending machines, Parliament was informed on Monday. As per Annual Reports of the Reserve Bank of India (RBI), the total value of Rs 500 and [...]
