Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
.jpg)
RPG Industries, Hindalco, SAIL, Jindal Steel, Monnet Ispat, GVK Power and Jaiprakash Associates among companies summoned for review.
State-run RITES provides engineering, consultancy and project management services in transport infrastructure sector under single roof.
Top gainers in the Sensex pack included HCL Tech, Tata Motors, M&M, Bajaj Auto, RIL, Hero MotoCorp, Yes Bank, Maruti, HDFC Bank and Bajaj Finance, which surged up to 6.43 per cent.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
The steel ministry has sent the proposal to sell 10 per cent of the government's holding in state-run Manganese Ore India Ltd to the Department of Disinvestment, Parliament was told on Friday.
Steel secretary D R S Chaudhary said that the government is planning to sell 10 per cent stake.
The NINL management can see this as their moment of giving back to the nation and humanity. Its plant has an oxygen unit that can produce 418 tonnes of oxygen every day. 418 tonnes is about 58% of Delhi's daily demand for oxygen, notes Sudhir Bisht.
China's latest decision to introduce export license management to 83 steel products from May 20 may severely hit domestic steel prices and cause a panic in the global market, analysts say.
It is not often that the head of a regulator is removed by the nodal ministry, even after the Appointments Committee of the Cabinet (ACC), headed by the prime minister, clears an extension.
Currently, India recycles around 300 of the 1,000 ships which are demolished per annum globally. However, countries like Japan, Europe and the US were not sending their ships for recycling to India in the absence of ratification of a global convention. That scenario is set to change with the Recycling of Ships Act, 2019.
In the second phase, the single-use plastic will be banned in all Air India flights.
Department of Economic Affairs secretary Atanu Chakraborty said that equity capital flows have been positive this year.
The country's largest steel producer, SAIL, has proposed trimming its board size by almost a fourth to speed up its decision-making process, official sources said.
However, the countries did not take up the issue of proposed withdrawal of export incentives by the US to Indian exporters under Generalized System of Preference.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
A ministry official said just like an internal financial audit, a green audit would protect stakeholders.
Noticing irregularities in coking coal purchases, the Steel Ministry has set up a committee to look into the rationale behind PSUs buying more of the commodity when it is expensive, and less of it when cheaper.
SAIL is awaiting the steel ministry's approval for its proposed public issue to raise funds to part finance its Rs 70,000-crore expansion project.
Proposal to provide weighted deduction at 150 per cent of expenditure incurred on skill development in manufacturing sector.
The 20 per cent FPO will be a combination of five per cent dilution of government's equity and five per cent issue of additional shares in each phase, a senior steel ministry official told PTI.
Five others, including one retired and another serving public servant -- K S Kropha and K C Samria -- were held guilty for various offences under the Prevention of Corruption Act and Indian Penal Code.
Four Chinese soldiers were killed in the fierce clash with the Indian Army in the Galwan Valley in eastern Ladakh in June last year, the People's Liberation Army (PLA) acknowledged for the first time on Friday.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
After putting the project on hold last year, Union Environment Minister Jairam Ramesh on Monday granted conditional clearance for South Korean major Posco's $12 billion steel mill project in Orissa.
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
The Central Bureau of Investigation has questioned T K A Nair, advisor to Prime Minister Manmohan Singh, in connection with alleged irregularities in allocation of coal blocks, which included granting of a block to Hindalco at Talabira despite it being rejected by a screening committee of the coal ministry.
India's sourcing from China may not necessarily be for cost-effectiveness alone but also for the lack of domestic qualified bidders, technology or other know-how.
There is no proposal to merge Nilachal Steel Corporation with SAIL but the process for the government's proposed merger of Nilachal Ispat Nigam Limited with Steel Authority of India Ltd is underway, the Lok Sabha was informed on Monday.
Former Jharkhand chief minister Madhu Koda, ex-Coal Secretary H C Gupta, former Jharkhand chief secretary Ashok Kumar Basu and six others were on Tuesday ordered to be put on trial by a special court on charges of corruption, criminal conspiracy and cheating in connection with a coal block allocation scam case.
Growth was primarily pushed by a jump in steel and electricity generation, apart from a sustained rise in natural gas output.
Pune's Lavasa Lake City has run into rough weather with the environment ministry slapping a showcause notice on Lavasa Corporation for carrying out construction activities without its approval in 25,000 hectares.
Will syringe shortage puncture India's Covid vaccine plans?
The environment clearance granted to Posco's mega steel project in Orissa in January 2011 will remain suspended till the environment ministry reviews it afresh.
"The secondary steel producers have assured that they will reduce prices of their flat products by Rs 4,000 per tonne and maintain the new price line for the next three months," Steel Ministry Secretary R S Pandey said after a meeting with the steelmakers. He said the government was examining the request by the steel industry to lower export duty. He also made it clear that reduction of prices by steelmakers was conditional.
As of now, only Indian power, steel and cement companies can mine coal for their own consumption.
The MiG29K and MiG29KUB, the aircraft carrier's primary fighters, spent more time in the hangar than in the air, with fleet serviceability remaining below 50 per cent, reports Ajai Shukla.
