Analysts seem to be generally pessimistic about Bharat Heavy Electricals (BHEL). Out of 15 brokerages with recommendations since May this year, two have 'buy' while five have 'sell' and eight have 'underweight'/'reduce'/'underperform'/'hold' recommendations. The average target price of the public sector undertaking (PSU) is Rs 61. However, the stock has been consistently hitting new highs, which indicates that there is some kind of valuation mismatch.
With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' (VIL's) assets, lenders are expecting aggressive bids for VIL's consumer durables and overseas oil assets, which are to be sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months, said a banker. A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also evinced interest in the second round of bids for VIL's consumer durable business. The deadline to submit bids for VIL's assets ended on February 2.
India's leading commodity exchange, National Commodity and Derivatives Exchange (NCDEX), and private weather forecasting company Skymet took a significant step towards launching the country's first tradeable weather index on Monday (August 14) by entering into an agreement to deepen their understanding of the impact that weather has on agricultural commodities. The memorandum of understanding (MoU) between NCDEX and Skymet is a profound step in the direction of linking farmers with the weather in a scientific way, according to an official statement. Sources indicate that NCDEX and Skymet will conduct workshops and seminars across the country to educate farmers about how they can scientifically use weather forecasts to hedge risks.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
Tata Power declared encouraging results for the April-June quarter (Q1) of the 2023-23 financial year (FY24). The firm's revenue rose 5 per cent year-on-year (Y-o-Y) to Rs 15,210 crore. It was driven by higher sales to distribution companies (discoms) and capacity addition in renewables. Company's adjusted profit after tax (PAT) rose 3 per cent to Rs 906 crore with reported PAT at Rs 1,100 crore on a one-time gain of Rs 235 crore.
'Hygiene is very bad, there is no medicine and there is no electricity.' 'I fear that there will be a breakout of some disease.'
JNU students staged a march from Mandi House to Jantar Mantar demanding expedited efforts to trace the student. A delegation of JNU students union went to submit a memorandum to the office of Lieutenant Governor Najeeb Jung in this regard.
HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.
Air-India will sell 376-room Centaur Hotel at Delhi airport and two Chefair flight kitchens of its subsidiary Hotel Corporation of India in the second round of divestment.
The Punjab and Haryana high court on Monday ordered a halt to the demolition drive in violence-hit Nuh and asked if it was an "exercise of ethnic cleansing".
The changes are in view of the requests received from interested bidders and the prevailing situation arising out of COVID-19.
Authorities in Nuh district Sunday razed some illegal structures including a hotel from where stones were allegedly pelted on a religious procession last week, even as a mahapanchayat was held in support of four men arrested over arson at a mosque and the death of its junior imam.
Maharashtra Deputy Chief Minister Devendra Fadnavis's wife Amruta Fadnavis has filed a police case against a "designer" for allegedly trying to offer her money to intervene in a criminal case as well as threatening her, a police official said in Mumbai on Thursday.
It is estimating that this would help monetise assets worth Rs 10,000 crore.
With different agencies showing divergent predictions regarding the southwest monsoon, the central government and states are gearing up to face adversity with various line ministries reportedly being directed to undertake mock drills and hold preparatory meetings. Around 56 per cent of the net cultivable area of the country is rain-fed, accounting for 44 per cent of foodgrain production. The June-September rains contribute around 73 per cent of the annual precipitation.
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
The police staged a flag march in the main market area of the town and appealed to people to maintain peace.
As many as seven firms, including JM Financial, Ernst and Young and Deloitte, have bid for managing the strategic sale of IDBI Bank. These firms would make a virtual presentation before the Department of Investment and Public Asset Management, which is handling the sale process, on August 10, according to a notice by DIPAM. The firms that have bid for acting as transaction advisor are Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets.
The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
The students have alleged that they were manhandled by the police and university security inside the North Campus premises.
The Delhi high court has struck down a central government office memorandum requiring the judges of the Supreme Court and high courts to obtain political clearance for private visits abroad, saying that such a condition is "uncalled for" in view of the high offices the judges hold.
'Maharashtra, Telangana and Karnataka were competing for the Foxconn-Vedanta semiconductor manufacturing plant'
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Clearly, Foxconn Chairman Young Liu and his team are looking to raise their game in India.
After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake.
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
Gen Kenneth S Wilsbach, commander of the US Pacific Air Forces, said the US side held the interaction behind closed doors with most of the air chiefs of the region.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
The Supreme Court on Wednesday granted the Securities and Exchange Board of India time till August 14 to complete its probe into the allegations of stock price manipulation by the Adani group. A bench headed by Chief Justice D Y Chandrachud directed the SEBI to file an updated status report of the investigation.
The Nationalist Congress Party, the main opposition outfit, accused the neighbouring state, ruled by the Bharatiya Janata Party, of 'snatching morsel from Maharashtra's mouth.'
The students were present for the examination in the school when the incident occurred.
Former chief minister Jai Ram Thakur, who was on Sunday elected the leader of the Bharatiya Janata Party legislative party in Himachal Pradesh, hit out at the Congress, alleging its government was failing to deliver on poll promises and leaders were moving in different directions.
With Lok Sabha elections months away, the visits are vital politically as these would showcase Modi's standing as a world leader to the home electorate.
The armies of India and the US on Tuesday began an over two-week mega military exercise at a military facility in Uttarakhand with the aim of exchanging best practices and tactics in sync with growing defence ties between the two countries.
He was expected to report for duty on February 10, according to Rama Nandagopal, president of Krishnagiri district BJP ex-servicemen wing.
Some right-wing organisations held protests against the movie in parts of Madhya Pradesh on the day of its release on Wednesday over certain scenes.
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