The government plans to monetise assets worth Rs 75,220 crore in the coal mining sector in the current financial year. The monetisation of coal blocks is likely to generate a revenue of Rs 52,200 crore, followed by Rs 20,320 crore from projects on Mine Developer and Operator (MDO) model, Rs 2,000 crore from discontinued mines [...]
SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery [...]
Essar Oil and Gas Exploration and Production Ltd (EOGEPL) on Tuesday said coal seam gas (CBM) output from its Raniganj East block in West Bengal has crossed 0.8 million standard cubic meters per day and is on track to triple the production in 24-30 months. The company was previously handicapped by a lack of a [...]
Large coal-importing nations, including India, will look to ramp up the output of domestic coal to strengthen energy security and lessen dependence on the import of fossil fuels, Moody's Investors Service said on Tuesday. The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the [...]
In the previous week, the ministry of consumer affairs asked restaurants to stop the practice of collecting service charges from customers “by default” as it “does not have legal sanction.” The ministry held a meeting with the National Restaurant Association of India (NRAI) on June 2, following complaints from consumers regarding the service charge. Issues [...]
The Income Tax Department on Tuesday said software services provider Infosys has been directed to look into the issue relating to malfunction of search option on the e-filing portal. After many users complained of issues while accessing the I-T portal and reported that it was hacked on Tuesday, which also happens to be the first [...]
The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35 per cent hike in lending rate. The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60 per cent. The [...]
Multibagger Stock: The shares of Abhinav Capital Services Ltd were locked at a 5% upper circuit at ₹247.90 apiece, clocking their fresh 52-week high. They have been hitting the upper circuit for 22 sessions in a row! However, they touched their 5% lower circuit on Tuesday’s early trades and their share price declined after a [...]
The Tea Board, under the commerce ministry, has issued directions to all producers and sellers of the commodity to strictly comply with quality norms of food safety regulator FSSAI before selling the product, an official said. The board has cautioned that no tea consignment that has failed on Food Safety and Standards Authority of India [...]
Amid continuing volatility in the stock market, Finance Minister Nirmala Sitharaman on Tuesday said retail investors seem to act as shock absorbers even when foreign portfolio investors went away. Speaking at an event of the corporate affairs ministry as part of the Azadi ka Amrit Mahotsav, Sitharaman said that during the pandemic, there has been [...]
Investment management firm Anicut Capital on Tuesday said it has raised Rs 110 crore to acquire equity stakes in startups across sectors. This is the first close for the Rs 500-crore Anicut Opportunities Fund I. The fund will be deployed to take stakes in up to 15 growth stage companies, as per an official statement. [...]
Amid the global trends, Indian indices witnessed a weak start on Tuesday. Nifty50 opened with a gap down at 16,470 and it is currently down by 100(1.17%) points from its opening. Sensex also opened at a gap down at 55,377 points and is trading at 54,960 points. Titan Company Ltd which holds a 1.2% weightage [...]
Anand Mahindra, the eclectic chairman of the Mahindra Group makes rounds every now and then with his acclaiming but sometimes critical tweets. Similarly, the shares of the Mahindra Group companies have been in the limelight due to their impressive Q4 results. Here are three companies which have their ex-dividend dates approaching in the near future. [...]
Mitsubishi Electric Corporation on Tuesday said it will invest about Rs 220 crore (3.1 billion yen) in its Indian subsidiary to set up a new factory in Maharashtra. The new factory will be set up near Pune in Maharashtra. Its subsidiary Mitsubishi Electric India will manufacture inverters and other factory automation (FA) control system products, [...]
The Central Board of Indirect Taxes and Customs (CBIC) would destroy around 42,000 kilogram narcotics at 14 locations, including Guwahati, Mumbai and Siliguri, as part of 'Drug Destruction Day' to be observed on Wednesday, the finance ministry said. The Drug Destruction Day would be observed as a part of an iconic week of 'Azadi ka Amrit [...]
West Bengal Industry Minister Partha Chatterjee on Monday said the state government has given its nod to Adani Enterprises for setting up a hyper-scale data centre park at Bengal Silicon Valley in the New Town area on the outskirts of the city. Addressing a press conference at the state assembly, Chatterjee said the cabinet gave [...]
Domestic brokerage Angel One, formerly Angel Broking, crossed the 10-million customers mark in May, more than doubling its customer base over the past 12 months. In May alone, it added over 0.47 million new customers, taking its overall customer base to 10.10 million. On an annualised basis, the gross addition grew by 108.7 per cent [...]
Private sector lender Tamilnad Mercantile Bank has received capital markets regulator Sebi's go ahead to mop-up funds through an initial share sale. The Initial Public Offer (IPO) comprises a fresh issue of 1,58,27,495 equity shares and an Offer For Sale (OFS) of up to 12,505 equity shares by shareholders, according to the Draft Red Herring [...]
India’s biggest oil firm corporation, Indian Oil reported a drop in its consolidated net profit during its fourth-quarter by 26.36%. This was due to the margin squeeze in petrochemicals and losses in auto fuel sales. The share is currently trading at ₹117.60 on the NSE and ₹117.65 on the BSE. The Company reported a consolidated [...]
Tata Power has partnered with real estate company Kolte-Patil Developers Ltd (KPDL) to set up e-charging stations across its projects in Pune, Mumbai and Bengaluru for the convenience of electric vehicle owners. As part of the wider green mobility adoption, EVs and the charging infrastructure play a key role to mitigate climate change challenges in [...]
