Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company's year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
With a view to increase efficiency and competition in the power sector, Central Electricity Regulatory Commission on Monday allowed open access in transmission system to power generating and distributing companies with immediate effect.
Adani group plans to invest about Rs 1.3 lakh crore across its portfolio companies this fiscal as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, group CFO said on Tuesday. The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation and the remaining through debt, Group CFO Jugeshinder 'Robbie' Singh told reporters in Ahmedabad.
The nation in a post-coronavirus future could well look back on the pandemic period as a 'blessing in disguise' if Indians imbibe hand, respiratory and environmental hygiene and practise it in their everyday lives, the minister said.
Thousands of contractual employees of the three state-run power utility companies in Maharashtra have threatened to launch an indefinite strike from Tuesday night over demands including wage hike.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
As order books gain from India's increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen & Tourbo (L&T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
Frequent weather shocks caused by climate change pose challenges for the monetary policy as well as downside risks to economic growth, a Reserve Bank report said. Global average temperatures are on a rise, with accompanying increase in extreme weather events (EWE), and the economic and social impact of global warming is becoming increasingly evident, said RBI's Monetary Policy Report - April 2024. The report said that climate change has increased the frequency and ferocity of weather shocks, posing challenges for monetary policy.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
Stating that counter-cyclical measures to combat the impact of the global financial meltdown were important, Subbarao said the government borrowings had gone up 'rapidly and abruptly' hindering transmission of monetary measures to bring about lowering of interest rates.
'You will see him frequently asking customers -- especially retail -- about service experience, pain points, areas of improvement and suggestions.'
Four big transmission projects went under the hammer last month.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
Adani group saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a $90 billion capex over the next decade. Emerging from a damning report of a US short seller, which hit market value of its listed companies, Adani group in 2023-24 (April 2023 to March 2024) fiscal focused on containing debt, reducing founder share pledge and consolidating business in core competencies.
A severe storm in Houston, the fourth-largest city in the US, has killed at least four people and left over 800,000 homes and businesses without power.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
As the political uncertainty settles down, investors are reviewing their assumptions about the power sector. Demand here is likely to continue to grow strongly in the long-term at around 5-6 per cent CAGR (compounded annual growth rate) during the next 6-7 years. Given policy continuity, several trends will persist.
The Lucknow bench of the Allahabad high court on Tuesday sought the Centre's response by July 16 on a plea seeking for directions to stop the transmission of Nirmal Baba's discourse on various TV channels.
The Reliance Group power utility BSES Ltd is to set up two new corporate entities to pursue opportunities in transmission and energy trading sectors.
Unable to kickstart its maiden transmission project even two years after winning the bid, Reliance Energy Ltd has now sought government intervention to ensure that state-run Power Grid Corporation of India Ltd signs the joint venture agreement.
The highlights of RBI's bi-monthly monetary policy announced by Governor Shaktikanta Das:
The transmission of dengue is closely associated with three key factors -- rainfall, humidity and temperature -- that dictate the geographies in which it spreads and the transmission rate of the viral infection caused by the dengue virus (DENV), and transmitted to humans through the bite of infected mosquitoes.
While asserting that the growth of coronavirus cases in the country has been more or less linear and not exponential, it also said testing has been ramped up consistently.
The top court set aside the Delhi high court verdict of March 6, 2023, by which it had upheld an order of the Additional Chief Metropolitan Magistrate (ACMM) asking the Delhi Police to register an FIR in connection with an episode in web series, 'College Romance', against TVF, the show's director Simarpreet Singh and actor Apoorva Arora under the Information Technology Act.
Abu Dhabi's International Holding Company, one of the first high-profile investors in billionaire Gautam Adani's conglomerate, has decided to sell its stake in two Adani companies. In a disclosure, IHC said it has "entered into a definitive agreement with a buyer to dispose of its FDI investment in Adani Green Energy Ltd and Adani Transmission Ltd". It, however, did not name the buyer.
Most members of the Reserve Bank of India's monetary policy committee (MPC) decided to stick to the course on bringing retail inflation to the target of 4 per cent while voting for maintaining status quo in the April review, except external member Jayanth Varma who voted for a 25 bps cut in the repo rate. "I believe that the extant monetary policy setting is well positioned," RBI governor Shaktikanta Das said in the minutes of the policy review, which came out on Friday. "Monetary policy transmission is continuing and inflation expectations of households are also getting further anchored.
The consignments were sent in a C-17 transport aircraft of the Indian Air Force.
Megha Engineering and Infrastructures Limited was the top donor to the Bharatiya Janata Party at Rs 584 crore and the Bharat Rashtra Samiti at Rs 195 crore.
'Safety first' is one of the primary considerations of the ICC's back-to-cricket guidelines and involving the governments at all stages is a must.
Among Sensex gainers, Power Grid jumped the most by 4.16 per cent after its board approved an investment of Rs 656 crore in transmission projects. Private lenders HDFC Bank, Axis Bank, Kotak Bank, IndusInd Bank and ICICI Bank were also among lead gainers. NTPC, Nestle and Hindustan Unilever also ended the session with gains.
Is unhappy about banks' reluctance to pass on lower interest rates.
The violence broke out in the district on Thursday night as the mob barged into the government complex and torched vehicles hours after a head constable of the district police was suspended after he was seen with gunmen in a purported video, an official said.
Preventive measures are in place and the forecast suggests further improvement, said the statutory body responsible for forming air pollution reduction strategies for the region and their implementation.
Reserve Bank Governor Shaktikanta Das on Friday stressed that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44 per cent in July continues smoothly. Addressing the Kautilya Economic Conclave 2023, he also said price stability and financial stability complement each other and it has been an endeavour at RBI to manage both efficiently. Retail inflation declined to a three-month low of 5.02 per cent annually in September on account of moderation in vegetables and fuel prices, and was back within the Reserve Bank's comfort level.
The Adani group is in advanced talks with top sovereign funds based in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects. The group, which expects to close the ongoing financial year ending March with Rs 80,000 crore of Ebitda (earnings before interest, tax, depreciation, and amortisation), has held a series of road shows in London, Dubai, and Singapore with potential investors, briefing them about their future growth plans. The group's flagship, Adani Enterprises, may dilute part of its stake in the airport-holding firm and/or the green hydrogen business to these funds, which are keen to invest in the Indian infrastructure sector, said a source close to the development.
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
Despite enduring a weak first quarter of the 2023-24 financial year (Q1FY24), Power Grid Corporation (PGCIL) has laid out an ambitious capex plan going forward. It is looking to invest around Rs 1.8 trillion on an existing asset base of Rs 2.7 trillion to aim at keeping over 50 per cent market share in the transmission market. This includes opportunities from the Rs 2.4 trillion green energy corridor.
Megha Engineering and Infrastructure, the little-known Hyderabad-based firm that in recent years won the prestigious Zojila tunnel deal among other projects, forayed into city gas and acquired a media group, was the second largest donor to political parties using electoral bonds.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances