Leading cement maker UltraTech on Thursday announced the signing of an agreement with transformational technology firm Coolbrook to explore possibilities to cut CO2 emissions from its cement manufacturing operations. The Aditya Birla group firm has signed a memorandum of understanding (MoU) with Coolbrook to explore electrification of cement kiln heating process, said a joint statement. [...]
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Cement maker Dalmia Bharat Ltd has said that the government's continued focus on the infrastructure and housing sectors builds "optimism" for the cement industry and the company has committed to a capex of over Rs 9,000 crore to expand its manufacturing capacity over the next few years to meet the growing demand. According to the [...]
Fish and meat distribution startup FreshR has raised USD 1.2 million (Rs 9.33 crore) in a funding round led by Axilor Ventures and 1crowd, a release said on Thursday. FreshR would use the fresh funding to grow and expand its geographical footprint, develop and implement its tech stack as well as grow its team. "Building [...]
Sounding a note of caution, Chief Economic Adviser V Anantha Nageswaran said on Thursday that the crypto currencies have yet to pass the test to become fiat currency and at the same time it would be difficult to regulate them. He further said that unlike fiat money, crypto currencies cannot satisfy basic requirements such as [...]
Witnessing positive momentum for the 15th straight month, equity mutual funds attracted a net sum of Rs 18,529 crore in May amid heightened volatility in stock markets and consistent selling by Foreign Portfolio Investors (FPIs). This was much higher compared to a net inflow of Rs 15,890 crore in April, data from the Association of [...]
Domestic equity market benchmark indices lurched lower for four sessions in a row. They were trading marginally lower on Thursday. The thirty share index was hovering at 54,864.44 levels, down 0.051%, while the fifty share index was below 16,355.30 levels, down 0.020% at 11:35 hours IST. Amid the choppy movement in the markets, the shares [...]
The shares of Asian Paints Limited are trading at ₹2666.00 levels, and are close to their 52-week low of ₹ 2599.35. Paint stocks were under pressure due to a spike in crude oil prices amid the Russia-Ukraine war. In addition, the share price of the company started falling after Aditya Birla Group firm Grasim Industries [...]
Gautam Adani ranks seventh on the list of the world’s richest people right after Mukesh Ambani. In the last three years, the business tycoon has become immensely popular and has amassed a huge amount of wealth. The regulatory scrutiny of the ownership structure of his listed companies had increased in October 2021, when Gautam Adani [...]
Debt-ridden Future Enterprises Ltd (FEL) has defaulted on payment of interest of Rs 1.41 crore for its non-convertible debentures. The due date for payment was June 6, 2022, Future Supply Chain Solutions Ltd said in a regulatory filing on updates received from its promoter Future Enterprises Ltd (FEL). "The Company is unable to service its [...]
Air Products, a world leader in industrial gases, on Wednesday said it has signed a long term supply agreement with the state-owned Indian Oil Corporation Limited (IOCL). "Air Products will build, own, and operate (BOO) a new industrial gases complex supplying hydrogen, nitrogen and steam to IOCL's Barauni Refinery in Bihar," the firm said in [...]
Home, auto and other loan EMIs will rise after the Reserve Bank of India (RBI) on Wednesday raised the key interest rate by 50 basis points, the second increase in five weeks, to rein in a rise in prices that was seen continuing to hurt consumers in the near term. The increase in lending rate [...]
The shares of MRPL surged 13.18% on Wednesday’s early trades. They have touched a fresh 52-week high of ₹ 123.35 and are currently trading at ₹ 121.25 apiece on the NSE as of IST 11:03. The shares had a trading volume of 3,77,09,497 during the session. In the last four sessions, the company’s shares have [...]
Customers borrowing from unregistered digital lending apps should approach the local police in case of any issue, Reserve Bank Governor Shaktikanta Das said on Wednesday, making it clear that the central bank will only act against entities registered with it. In remarks that came in the wake of a spate of alleged suicides abetted by [...]
Returning to profit in FY22 after witnessing heavy losses for two consecutive years, Yes Bank has kicked off the process of forming an alternate board as it has come out of the reconstruction scheme. The central government had notified the Yes Bank Reconstruction Scheme on March 13, 2020 after the private lender faced governance crisis [...]
Housing demand is likely to be affected in short-term as home loans are set to become costlier following the RBI's decision to hike repo rate by 50 basis points, according to real estate developers. The cost of borrowing for developers could also increase, impacting their profit margins, they said, while hoping that the move would [...]
Benchmark Indices were trading marginally lower on Wednesday’s afternoon trades. The BSE Sensex slipped 0.40% to settle at 54,885.71 points, while the NSE Nifty tanked 0.35% and settled at 16,358.55 points. State Bank of India, Tata Steel, TCS, Bajaj Finserv and Apollo Hospitals were trading in the green. Bharti Airtel, ITC, Reliance, UPL, Asian Paints [...]
German sports luxury car manufacturer Porsche on Wednesday said it has forayed into pre-owned car segment in India. The Porsche Approved programme is now available across India with a comprehensive warranty on pre-owned cars for a minimum of 12 months, including access to the 24-hour roadside service after passing a rigorous 111-point inspection, the automaker [...]
The Reserve Bank of India's monetary policy committee (MPC) hiked the repo rate by another 50 basis points on June 8 as it continues to fight against inflation. With this, the repo rate stands at 4.9%. On May 4th, the RBI had hiked the repo rate by 40 bps and the CRR by 50 bps [...]
Shopify online clothing stores: In the online apparel industry, the return rate is at least around 30%. as compared to 8.89%in brick-and-mortar stores. 92% of consumers surveyed said that they will buy again ifthe product return process is easy whereas 79% of consumers want free return shipping. One out of three clothes, purchases made online [...]
