IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet.
India's manufacturing sector activities witnessed faster growth in April amid quicker increases in production as well as factory orders, and renewed expansion in international sales, a monthly survey said on Monday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 54.0 in March to 54.7 in April, as a retreat of COVID-19 restrictions continued to support demand. The April PMI data pointed to an improvement in overall operating conditions for the tenth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Mumbai-based pharma major Lupin will invest over Rs 200 crore (Rs 2 billion) this year to create additional manufacturing capacities.
The notification issued by the Union Environment Ministry also exempts projects pertaining to the expansion of terminal buildings at airports (without an increase in the existing area of the airport) from seeking green nod.
The airline will be inducting large number of A321s this year which will be largely used on international routes and high density domestic routes.
With the investment, the company's refining capacity will rise 60 per cent from the present 65.7 million tonnes per annum (mtpa) to 105 mtpa by 2022.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
Hinduja Group firm heavy commercial vehicle maker Ashok Leyland has drawn up a Rs 4,000 crore (Rs 40 billion) capital expenditure plan for building capacity, developing products and upgrading technology, a top official said.
Tata Motors on Monday said its subsidiary and Ford India have inked a pact with the Gujarat government to acquire FIPL's Sanand vehicle manufacturing plant. Tata Passenger Electric Mobility Ltd (TPEML) -- a subsidiary of Tata Motors -- and Ford India Pvt Ltd (FIPL) have today signed a memorandum of understanding (MOU) with the Gujarat government for the potential acquisition of FIPL's Sanand vehicle manufacturing facility, including land, buildings, vehicle manufacturing plant, machinery and equipment, Tata Motors said in a regulatory filing. The MoU also includes the transfer of all eligible employees of FIPL Sanand's vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals, it added.
Infrastructure company Lanco Infratech on Monday said it has firmed up investment plans of Rs 24,000 crore (Rs 240 billion) for becoming a 9,300 MW company in the next four years from the current power generation capacity of 2,082 MW.
Motorcycle maker TVS Motor Company on Thursday said it will invest Rs 200 crore (Rs 2 billion) by April next year to increase its production capacity to 28 lakh units.
'If it is your second car (electric vehicle), you typically keep it for travel within the city.' 'And the first car (internal combustion engine-run vehicles) can then be used to travel to some other cities.'
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
With oil prices in a free fall, the airline is looking at regaining some of its lost share.
To keep competitors at bay, GCMMF has drawn up an expansion blueprint worth Rs 800 crores for the domestic market.
The investment was committed to by Vittorio Colao, CEO of Vodafone Group Plc.
Plabita beats the heat... Lisa gets woozy in Ladakh...Shefali shares a flight experience...
Air India on Monday said it will progressively induct 30 new aircraft, including 5 wide-body Boeing planes, from December this year, as the Tatas-owned airline looks to boost its domestic and international services. The airline has signed leases and letters of intent for inducting 5 wide-body Boeing and 25 Airbus narrow-body planes over the next 15 months. "These new aircraft, which will enter service from late 2022, will increase the airline's fleet by over 25 per cent.
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
Speaking at a press conference in Kolkata organised by TDSAT, N K Mangla, head of the regulatory department of Reliance Communication, said, "We plan to have a customer capacity of 8 million or 55 per cent of the population in 2008." Reliance also plans to cover 95 per cent of highways, 93 per cent of railways, 6,000 towns and five lakh villages in 2008. Currently, the company has 22,000 towers.
According to the proposed agreement, Japan will provide financial assistance to the tune of 81 per cent of the project cost as soft loan.
ETA Engineering, a part of the Dubai-based $4.5-billion ETA-Ascon Group, is investing Rs 40 crore in setting up a manufacturing unit at Sriperumbudur near Chennai for the manufacture of air-conditioning units.
Three Indian peacekeepers, who lost their lives serving under the UN flag last year, are among the 103 military, police, and civilian peacekeepers who will be honoured posthumously with a prestigious medal in the United Nations for their service and supreme sacrifice in the line of duty.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
Chief Economic Advisor V Anantha Nageswaran on Thursday expressed hope that the economy will maintain the trend growth rate of 6.5 per cent and above for the rest of the years in the current decade. The economy will close the current fiscal logging in a growth of 6.5-7 per cent, he said, citing the projections of private sector analysts, Reserve Bank of India (RBI) and international agencies like OECD and the IMF. "This appears to be reasonable at this point in time although we will get the data on the fiscal second quarter in a few days, which will give more clarity on these numbers.
India's services sector activity moderated in December as business activity and sales rose at a softer pace, while price pressures and the possibility of new waves of Covid-19 affected business sentiment, a monthly survey said on Wednesday. The seasonally adjusted India Services Business Activity Index fell from 58.1 in November to a three-month low of 55.5 in December. The rates of expansion moderated but were nevertheless "marked" by historical standards, the survey said.
Hindustan Petroleum Corporation's upcoming Bathinda refinery in Punjab has forced Indian Oil Corporation to reconsider its plans to expand its refinery at Panipat to 21 mtpa.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 54.9 in February, up from 54.0 in January, signalling a stronger improvement in the sector's health. The February PMI data pointed to an improvement in overall operating conditions for the eighth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
A phased roll-out of prohibition will hit revenues of companies, which get 5% of their volume sales from the state
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
Kolkata trams -- now in their 150th year -- are the last to survive modernity in Indian cities, writes Ishita Ayan Dutt.
The company has said it will expand the production capacity at its contract manufacturing facility in Baddi (Himachal Pradesh). The company has just inked an agreement with its Baddi-based leading vendor Sarvotham Care Ltd for the purpose. Amway India is a wholly owned Indian subsidiary of the $8.2 billion Amway Corporation, Michigan, USA, one of the largest Direct Selling Companies in the world.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
'If the authorities go about completing this project the way they have proposed, this is going to cause a HUGE environmental impact not only on Malabar Hill but also on the rest of the city.'
Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.
Hundreds of pilots are staring at a long wait to get the job of their dreams after completing the course, the cost of which runs to Rs 1 crore.
Gautam Adani on Tuesday said his ports-to-energy conglomerate never slowed or stopped investing in the country as the group's success is based on its alignment with the India growth story. Speaking at the annual shareholder meeting of the group companies, he said the previously announced $70 billion investment in new energy business will help turn India from being a net importer of oil and gas to an exporter of clean energy. "Never have we walked away from investing in India, never have we slowed our investments," he said. "We believe our scale, our diversified business, and our track record of performance positions us very strongly to continue to perform well in a variety of market conditions."
