On August 15 last year, Prime Minister Narendra Modi announced from the ramparts of the Red Fort that the Indian Railways would launch 75 Vande Bharat Express trains by August 2023. Later, in her 2022 Budget speech, Finance Minister Nirmala Sitharaman announced that 400 Vande Bharat trains will be manufactured in the next three years, which are expected to cost between Rs 40,000 crore and Rs 50,000 crore. Those upbeat announcements come after a series of cancelled tenders, vigilance actions against officials and interdepartmental rivalry that delayed the addition of these iconic trains developed entirely indigenously by the Integral Coach Factory (ICF) in Chennai.
Prime Minister Narendra Modi, who won a landslide election victory in May largely on a promise of economic growth, is expected to speed up divestments to bolster revenue generation.
While Vedanta Aluminium, Balco and Cairn India confirmed the job cuts, sources said Sesa Goa too had slashed jobs.
The states will get over Rs l lakh crore.
With the privatisation of BPCL appearing inevitable, there are worries that the new promoter would soon move to lower wages.
The government is bullish on Coal India and ONGC's stake sale programme which are to be held soon.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
The brand image, however, may not tarish further as it will have already taken the beating due to consistent injury
The company shut down its 1-mtpa (million tonnes per annum) alumina refinery at Lanjigarh in Kalahandi district in the state on December 5 due to acute shortage of bauxite to feed its plant.
Tata Power, Sesa Sterlite and Hindustan Zinc likely to be hit.
There are 30 listed PSUs in which the public holding is less than 25%.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
.jpg)
'Mining jobs get created in the most backward districts of India's poorest states,' says Anil Agarwal.
In a significant move to enhance its strategic resource security, India has officially released its first-ever critical minerals list, identifying 30 key critical minerals crucial to the nation's economic growth and technological development. This pioneering step aims at reducing import dependence, enhancing supply-chain resilience, and supporting the country's net-zero objectives. Union Minister Parliamentary Affairs, Coal and Mines Pralhad Joshi, while releasing the Critical Minerals for India report in New Delhi on Wednesday, said, "India is readying for an Atmanirbhar Bharat."
Arun Jaitley will aim for jumps in other revenue streams for the government.
Employees of around 150 firms may lose out on PF benefits as their companies failed to get an exemption certificate from the Employees' Provident Fund Organisation (EPFO)
JSPL and Balco had emerged as the highest bidders in the recently concluded auctions.
Govt to issue ownership rights of 15 coal mines on Mar 23.
'Just because of my background and poor academic qualifications, most people disbelieve what I have done.'
Vedanta Resources has huge interests in India. The promoter and majority shareholder of Vedanta Resources, Anil Agarwal, also founded Sterlite Industries.
Vedanta group chairman, Anil Agarwal, 69, is well known for his business journey from a scrap dealer from Bihar to a London-based globe-girdling metal and oil and gas conglomerate with revenues of $19 billion. Now his abilities to keep his group from over-leveraging itself will be put to the test. Over the years, Agarwal, now based in London, set up the conglomerate via acquiring iron ore producer Sesa Goa, Cairn's oil producing assets in India, and Electrosteel Steel.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
The 1995 judgment in the Union of India vs Cricket Association of Bengal case emphasised that free speech is essential for a successful democracy and citizens must have a plurality of views and a range of opinions on all public issues, says M J Antony.
"Unfortunately, while homage was paid to the photos of Bapu, and he found mention in speeches for many years, Khadi, handicrafts, use of swabhasha and swadeshi were forgotten. After becoming the prime minister, Narendra Modi gave a new lease of life to all these ideas of Bapu," Shah said.
The court issued notice to the ministry and directed it to file its response in two days.
Bids for eight coal blocks were sent for re-examination.
'In case of shortage of other raw material, like filters and bags, one can try to develop another vendor. However, for chemicals as critical as adjuvants, this is not possible'
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
.jpg)
According to media reports, CBI is looking into the entire process at the then NDA government and has asked for information from the mines ministry.
The BSE Midcap and Smallcap indices have performed better than the front-liners
Modelled loosely around the National Highway System of the US, he in 2001 launched the Golden Quadrilateral and the North-South & East-West Corridor projects to build 4/6 lane highways between four top metropolitan cities of Delhi, Mumbai, Chennai and Kolkata as well as from Srinagar to Kanyakumari and Porbandar to Silchar.
The Centre has shared a set of parameters with all states and UTs to enable service providers and monitoring teams under the national COVID-19 vaccination programme to identify any fake COVID-19 vaccines so that they are not administered in the country.
Top corporates and banks, including Bharti Airtel, Maruti Suzuki, SAIL and SBI, have paid lower advance taxes during the July-September quarter reflecting the impact of slowdown.
The broader markets are outperforming the benchmark indices.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government may retain oversubscription of the public offering of shares of India's largest carmaker, Maruti Udyog Ltd, a top divestment ministry official said on Tuesday.\n\n\n\n
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
