Rough estimates from plantation companies have pegged production loss in excess of 100 million kg (mkg) across India which is valued at around Rs 2000 crore. Usually, plantation companies in Assam and West Bengal produce around 15 per cent of the total tea during March-April.
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
The buyback, at Rs 2,100 per equity share, entails up to 7.61 crore shares or 1.99 per cent of the total paid up equity share capital.
Steps will be taken to attract external commercial borrowing and FDI in the education sector, the finance minister said. Stating that govt will soon introduce new education policy, Sitharaman said online degree courses to students from weaker sections.
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
The GoM, headed by Home Minister P Chidambaram, that went into a whole range of issues, including relief and rehabilitation of the victims, is believed to have recommended payment of Rs 10 lakh to the next of kin of the dead in the world's worst industrial disaster nearly 26 years ago.
Kyle Jamieson is the highest paid New Zealander and fourth highest in the IPL's 14-year history.
Presenting the budget for the sixth consecutive time in the Assembly, Sisodia said the Delhi government will implement the Ayushman Bharat Yojana of the Centre in the national capital.
Union Home Minister Amit Shah on Thursday conducted an aerial survey of rain-ravaged areas of Uttarakhand to asses the damage which the state government has pegged at Rs 7,000 crore.
Ahead of the start of the ninth season of the IPL, Rajneesh Gupta presents a detailed statistical analysis of the players involved.
The net worth of India's richest man, Mukesh Ambani, dropped 28 per cent, or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday. The chairman and managing director of the diversified Reliance Industries saw his wealth decline by USD 19 billion (app Rs 144,400 crores) in the February-March period, taking his global ranking down eight places to 17th, the Hurun Global Rich List said.
Round-up of Ranji matches played on Tuesday.
Public sector banks, including the country's largest lender State Bank of India (SBI), have come out with a templated approach for restructuring retail and small business loans of up to Rs 25 crore under the Reserve Bank of India's (RBI) Covid restructuring package 2.0. They have also come out with standardised products to make funds available to business entities for improving healthcare infrastructure and to individuals for meeting Covid treatment expenses. Business loans have been divided into three categories.
Alleging that the candidate vaccine was not safe, he has also sought cancelling approval for its testing, 'manufacture and distribution', failing which legal action would be taken.
Patni Computer Systems Ltd will spend Rs 1 billion ($23 million) to set up a new software development centre in Pune, the company informed the Bombay Stock Exchange said on Thursday.
M&M, which owns a 75 per cent stake in SYMC, rescued the sport-utility vehicle (SUV) maker from near-insolvency in 2010 but has struggled to revive its fortunes.
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
The Congress raised Rs 918.03 crore, of which 383.26 crore came through the debt instrument, which can be purchased from select branches of State Bank of India and donated to any political party.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
Minister of sate for external affairs said the expenditure includes cost of chartered flights.
The draft bill provides for capital punishment for crimes against women and children, specifies deadline of 30 days to complete the probe since the day the complaint in such cases is lodged and puts the onus on social media platforms as well as internet provider companies to share the data for police investigation.
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Cabinet likely to pave way for the 'super-rich' tax today.
Of the total Rs 63,288 crore invested through the route till July, Rs 52,356 crore was invested in equities, Rs 10,429 crore in debt, Rs 250 crore in the hybrid securities and Rs 190 crore in derivatives segment.
Morepen Laboratories is all set to gain from the 180-day marketing exclusivity granted to Geneva Pharmaceuticals Inc for Loratadine in the U S.
Investments through participatory notes (P-notes) in the Indian capital market surged to a 27-month high of Rs 83,114 crore at November-end driven by continued liquidity and improvement in second quarter corporate earnings. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt and hybrid securities -- increased to Rs 83,114 crore at November-end from Rs 78,686 crore at October-end.
Family philanthropy has proven resilient throughout the pandemic and grew to nearly Rs 12,000 crore in fiscal year 2020, accounting for almost two-thirds of the rise in private sector funding since FY19, says a report. According to the India Philanthropy Report 2021, co-created by Bain and Company and Dasra, funding from family philanthropy has tripled its corpus, growing to nearly Rs 12,000 crore in FY 2020. As per the report, in FY 2020, private-sector funding which stems from four sources including foreign, corporate, retail, and high-net-worth individuals (HNIs) or families totalled about Rs 64,000 crore and 20 per cent of this came from family philanthropy. While foreign contributions account for a quarter of all funding, domestic corporation donations also known as Corporate Social Responsibility (CSR) account for 28 per cent and retail investors account for another 28 per cent.
Ford, which had announced to quit the Indian market last year, said it was exploring the possibility of using one of its plants in India to produce electric cars for exports.
Karan Johar, who presents the film in Hindi, can't contain his excitement.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
As confidence for Indian modern art returns, prices will rise in the same proportion as they did in the last decade.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The government on Wednesday said it will borrow Rs 7.24 lakh crore in the first half of 2021-22 fiscal to meet resources to perk up the economy hit by the coronavirus pandemic. According to the Budget 2021-22, the government's gross borrowing was estimated at Rs 12.05 lakh crore in the financial year beginning April 1. "In the Budget, we had announced that there would be a gross borrowing of Rs 12.05 lakh crore and net borrowing of Rs 9.37 lakh crore. "In the first half of 2021-22, we would be borrowing Rs 7.24 lakh crore, which is 60.06 per cent of the gross issuances," economic affairs secretary Tarun Bajaj said. He said the government would issue 2-year, 5-year, 10-year, 14-year, 30-year, and 40-year securities.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries
Sitharaman also announced Rs 10,000 crore fund to support 2 lakh micro food enterprises for promoting health and wellness, herbal, organic and nutritional products.
The COVID-19 experts in Karnataka expect that the state may witness coronavirus infections touching the peak on January 25 before coming down gradually, Karnataka revenue minister R Ashoka said on Monday.
Civil Aviation Minister Hardeep Singh Puri Monday said the Airports Authority of India (AAI) will continue to receive revenue share after the government sells its stake in the airports in Delhi and Mumbai. "Those who are raising concerns should also know that the Delhi's airport and the Mumbai airport are on a 60 yr lease. "These & the 6 other airports will be back with AAI after the lease period. So, nothing as they claim, is being 'sold out!" he said on Twitter. Congress leader Rahul Gandhi on Monday attacked the government over reports that it plans to sell its residual stake in the already privatised Delhi, Mumbai, Bengaluru and Hyderabad airports, alleging that such privatisation hurts the public and benefits only a handful of cronies.
The package includes raising of Rs 15,000 crore sovereign bonds to meet the immediate capital requirement of both the companies, 4G spectrum allocation worth Rs 20,140 crore, Rs 29,937 crore for VRS covering 50 per cent of their employees, and Rs 3,674 crore for goods and services tax that will be levied on allocation of radiowaves.
Prohibitory orders were imposed in parts of Ranchi city after some policemen, including an Indian Police Service officer, and others were injured in Ranchi on Friday while trying to control a mob near a temple, an official said.
P-note is, however, now not a preferred route for investing in India as Sebi has made registration easier and also desirable for FPIs.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
