It has signed a strategic alliance with the arm of global miner Rio Tinto for increasing its presence in India and abroad, NALCO said in a filing to the Bombay Stock Exchange. The agreement signed on Friday in Bhubaneswar, facilitates both companies to share information for identifying potential to create value for both the organisations, the filing added.
'Aleris will bring in $3 billion of revenue. Novelis has $12 billion of revenues. If we add Hindalco's $6-billion revenue, then on a consolidated basis, we will become the world's largest aluminium company outside China.'
New Delhi has missed its target for partial privatisations for the past five years
Analysts said the higher capex by PSUs, along with government spending, could trigger a capex revival for the corporate sector by the second half of FY17
Lines up seven OFS issues along with half a dozen IPOs for the next few months
A 25 per cent year-on-year (Y-o-Y) increase in budget allocation towards the roads sector for FY24 has led to renewed interest among investors. However, a combination of escalating costs for Bharatmala and unseasonal rains to some extent have impacted progress. Bharatmala's cost has nearly doubled from Rs 5.35 trillion to Rs 10.6 trillion and the finance ministry has asked MoRTH to go slow until Cabinet approval is received.
The finance ministry has short listed 11 PSUs for a possible buyback of shares in the ongoing financial year
With the privatisation of BPCL appearing inevitable, there are worries that the new promoter would soon move to lower wages.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
Infrastructure and real estate prominently feature as wealth destroyers.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The amount is around a fifth of the cumulative investment in fixed assets by these companies.
One of the challenges for those car graves is that Indian owners often find markets for their old cars rather than send them to scrapyards.
The interim free trade agreement between India and Australia will come into force on Thursday, providing duty-free access to thousands of domestic goods such as textiles, and leather in the Australian market. The agreement will help almost double the bilateral commerce to $45-50 billion in around five years, according to exporters and industry players. The Economic Cooperation and Trade Agreement (ECTA), which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors, including textiles, leather, furniture, jewellery and machinery in the Australian market.
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'Mining jobs get created in the most backward districts of India's poorest states,' says Anil Agarwal.
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.
The government on Thursday fixed Rs 358 a share as the floor price for up to 10 per cent stake sale in Coal India on Friday, which may help the exchequer garner about Rs 22,600 crore (Rs 226 billion) in the biggest sale of shares.
Benchmark share indices ended flat amid lack of investor participation even as gains in IT majors ahead of their second quarter earnings helped capped downside.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Abramovich, who is Jewish and has Israeli citizenship, was one of the most powerful businessmen who earned fabulous fortunes after the 1991 break-up of the Soviet Union. Forbes has put his net worth at $13.3 billion.
The Russian-Ukraine war can hit the global supply chains that are already constrained due to the pandemic and the worst impact will be on ongoing chip shortage because the warring nations brutally control supplies of key raw materials that go into making semiconductors, warns a report. Since Russia controls as much as 44 per cent of global palladium suppplies, Ukraine produces a significant 70 per cent of the global supply of neon -- the two key raw materials that go into making chips. The markets can expect the global chip shortage, that began with the pandemic, to worsen if the military conflict lingers on, says a Moody's Analytics report on Friday.
Companies are drawn to the parks by the infrastructure and ready-to-occupy land.
Arun Jaitley will aim for jumps in other revenue streams for the government.
The issues around trade gaps, especially around steel and aluminium tariffs imposed by the US, will be addressed separately.
Abramovich handed Chelsea director control of firm on day of Ukraine invasion - filings
India has raised tariffs on 28 items, including almond, pulses and walnut, exported from the US in retaliation to America's withdrawal of preferential access for Indian products.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
The story of Iceland is the story of life, notes Payal Singh Mohanka after a recent journey to that fascinating land.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Dividend distribution tax in FY20 would only be applicable after deducting Rs 70 received from the foreign subsidiary, meaning 20.56 per cent DDT would be paid only on Rs 30.
Nearly a decade ago, the first fully electric vehicle (EV) caught fire on the road in the US. It was a model from Tesla, the world's most admired EV maker. A metal fragment punctured the underbelly of the vehicle, penetrating its battery pack, leading to a fire. Indian lawmakers and automakers have had nine years to study the incident (in fact, three Tesla Model Ss caught fire in two months in 2013) but seem to have learnt little.
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
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.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
Private participation remains lacklustre.
The hike in clean energy cess is likely to impact input cost for thermal power producers
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