Outstanding loan portfolio of the micro-finance institution (MFI) sector across India will increase around 20.3 per cent at Rs 3.25 lakh crore in 2022-23 compared to the previous fiscal, said the MFIN, a self-regulatory organisation (SRO) recognised by RBI. During the last fiscal, the total outstanding of the MFI sector was Rs 2.7 lakh crore, [...]
The net profit of operating public sector enterprises jumped 50.87 per cent to Rs 2.49 lakh crore during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers, according to a government survey. The net profit of operating central public sector enterprises (CPSEs) stood at Rs 1.65 lakh [...]
The Centre on Monday raised the windfall tax levied on domestically produced crude oil as well as on the export duty of diesel and ATF, in line with escalating international oil prices. According to a notification issued by the Central Board of Indirect Taxes and Customs, on January 02, 2023, the windfall tax on crude [...]
State-owned power giant NTPC on Tuesday said it has started India's first green hydrogen blending operation in the PNG (piped natural gas) network of its township in Kawas, Surat. "The project is a joint effort of NTPC and Gujarat Gas Limited (GGL). The first molecule of green hydrogen from the project was set in motion [...]
HDFC Bank on Tuesday said it is partnering with Microsoft in the next phase of its digital transformation. The private sector lender is developing in-house IPs as well as partnering with several companies, including FinTechs, to co-create technology IPs, the lender said in a statement. HDFC Bank will leverage Microsoft Azure to consolidate and modernise [...]
Alex Reinhardt is a venture capitalist, entrepreneur, and blockchain expert who had a vision of creating a revolutionary platform based on blockchain and focused on raising living standards all around the globe. With a strong belief in his idea and a lot of hard work with the team of opinion allies, he launched a decentralized [...]
The country's coal output went up by 16.39 per cent to 607.97 million tonnes (MT) during the April-December period of the ongoing fiscal. India's coal production was 522.34 MT in the corresponding period of previous fiscal. The coal production by state-owned Coal India -- which accounts for over 80 per cent of domestic output of [...]
Richest Asian Gautam Adani's group on Tuesday said it will pay an additional Rs 48.65 a share to NDTV stockholders who tendered their shares in its open offer to help match what it had paid to buy out a stake of the news broadcaster's founders. Adani Enterprises in a stock exchange filing said it will [...]
Market benchmarks overcame bouts of volatility to close in the green for the second straight session on Tuesday, propped up by robust demand for banking, IT and pharma stocks amid a supportive trend overseas. However, a depreciating rupee and sustained foreign fund outflows capped the gains, traders said. The 30-share BSE Sensex rose 126.41 points [...]
Rhetan TMT, an iron and steel company, has announced a bonus issue as well as the sub-division (stock split) of its shares. The company currently manufactures TMT bars and round bars which are primarily used in the construction industry. Its shares were quoting at ₹ 454.00 apiece at 03:00 PM on Tuesday and it has [...]
The Indian Energy Exchange's total trade volume in December 2022 dipped 7 per cent to 8,452 million units as compared to the year-ago period mainly due to higher average spot price of electricity and lower trading of renewable energy certificates. "The overall volume on the exchange in December 2022 increased 9 per cent on a [...]
External Affairs Minister S Jaishankar has defended India's move to import crude oil from Russia notwithstanding the growing disquiet over it by Western powers, saying that Europe has imported six times the fossil fuel energy from Russia than India has done since February 2022. Jaishankar, who arrived here from Cyprus on the second leg of [...]
Indian media and entertainment sector is likely to grow 12-14 per cent to clock Rs 1.6 lakh crore revenue in FY24, rating agency Crisil said in a report. The revenue growth of the Indian media and entertainment (M&E) from advertising would be led by digital platforms, followed by TV and print, it added. "Ad revenue, [...]
Capital markets regulator Sebi has asked Oravel Stays Ltd, the parent company of travel-tech firm OYO, to refile the draft IPO papers with certain updates. The move might delay the Gurugram-based hospitality unicorn's initial public offering (IPO). OYO filed preliminary documents with the Securities and Exchange Board of India (Sebi) in September 2021 for a Rs [...]
Electric vehicle charger and lithium-ion battery maker Exicom on Tuesday said it signed an agreement with Hero Electric to supply its battery management systems. Under the agreement, Hero Electric intends to purchase 5 lakh units of Exicom BMS (Battery Management Systems) per annum, the company said in a statement. Exicom will provide intelligent BMS, built [...]
The shares of Likhitha Infrastructure Limited gained as much as 2 percent till the afternoon on Tuesday and were trading at Rs 237 levels. The scrip gained after the company reported that it has received orders worth Rs 120 crore from various Oil and Gas Distribution Companies during the quarter from October 2022 to December [...]
After having a volatile year in 2022 which was led by geopolitical tension, rising inflation, and a surge in covid, the Indian market is still holding its ground. The benchmark indices Nifty and Sensex began the year in the green, indicating investor optimism. Here are two stocks recommended by analysts in 2023 for an upside [...]
Telecom operator Bharti Airtel on Tuesday announced the launch of its 5G services in Indore. In a statement, the company said customers with 5G-enabled devices will experience high speed Airtel 5G Plus network at no extra cost until the rollout is more widespread. "Currently operational at Vijay Nagar, Rasoma chowk, Bombay Hospital Square, Radisson square, [...]
State-owned Convergence Energy Services Ltd, a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL), on Tuesday said the prices discovered for the 6,465 electric bus tender were 29 per cent lower than what it costs to operate diesel buses. This unified tender constitutes demand for electric buses from six Indian states & UTs – Delhi, [...]
Agrochemicals maker Safex Chemicals Ltd on Tuesday said it plans to invest Rs 100 crore in its new agri-tech arm, AgCare Technologies, in the next 3-4 years for launching an interactive tech platform and for setting up a manufacturing unit. Speaking to PTI, the company's Group Director Piyush Jindal said, "We are investing Rs 100 [...]
