Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds.
It's mid-morning and the two-kilometre stretch from Rashbehari Avenue to Gariahat Market is bustling with activity. Dotted with saree shops and hawker stalls that sell everything, from hairpins, hangers and towels to hosiery, mobile phone covers and kurtas, this is one of South Kolkata's busiest shopping areas. And it is beginning to wake up to the Paytm crisis.
The country's largest steel producer has targeted to install an annual production capacity of about 23 million tonnes against the present 14 million tonnes.
The Tata group has decided to set up a mega steel plant in the naxal infested Bastar region of Chhattisgarh with an investment of about Rs 5000 crore (Rs 50 billion).
As India's first solar exploration satellite reached space, four Kerala public sector undertakings, including Keltron, have reason to be delighted as they too have contributed to this achievement by the country. Various products indigenously developed and manufactured by the four PSUs - Keltron, Steel and Industrial Forgings Limited (SIFL), Travancore Cochin Chemicals (TCC) and Kerala Automobiles Ltd (KAL) - have been used in the Aditya L1 mission. This milestone achieved by the PSUs was highlighted by state Industries Minister P Rajeev in a Facebook post.
From the Sensex pack, IndusInd Bank, NTPC, Asian Paints, Hindustan Unilever, JSW Steel, Tech Mahindra, Bajaj Finance, Infosys, Wipro, ICICI Bank, Bajaj Finserv, HDFC Bank and Tata Motors were among the major laggards. HCL Technologies, Power Grid, Titan, Reliance Industries, UltraTech Cement, Tata Steel, State Bank of India and Mahindra & Mahindra were the gainers.
Bajaj Finance was the biggest gainer in the Sensex pack, rising 2.70 per cent, followed by Power Grid, IndusInd Bank, NTPC, Bharti Airtel, ITC, Bajaj Finserv, Infosys, Nestle, Tata Steel, Tata Consultancy Services, Titan and Axis Bank. Reliance Industries, Mahindra & Mahindra, Maruti and State Bank of India were among the laggards.
The protesters who had gathered under the banner of the Joint Forum for Restoration of Old Pension Scheme and National Joint Council of Action said they were worried about their post-retirement future.
Higher import duties on steel improve the bottom lines of steel-makers, but depress those of downstream users of steel.
The Tata Group had acquired its UK steel operations as part of a 6.7 billion pounds acquisition from Anglo-Dutch steelmaker Corus in 2009.
Led by Tata Motors and Tata Consultancy Services (TCS), the combined revenue of the Tata group's listed firms crossed the Rs 10-trillion mark for the first time, in 2022-23. The group's 14 key listed companies in which Tata Sons holds a direct equity stake reported a combined revenue of Rs 10.07 trillion in FY23, up 15.3 per cent from Rs 8.73 trillion in FY22. The combined net profit of these companies was, however, down 10.6 per cent year-on-year (YoY) at Rs 66,670 crore in FY23, from a record high of Rs 74,540 crore in the previous financial year, when the profit had jumped 156 per cent YoY, aided by Tata Steel's strong showing.
Officials are tight-lipped on the exact menu but it is expected to reflect India's culinary diversity.
The exact case in connection with which the searches were being conducted was not yet known.
Tribals on Friday took out separate rallies in Orissa's Kalinganagar area, both in support of the Tata Steel project and against it, to mark the third anniversary of killing of 14 tribals in police firing.
India's biggest steelmaker Tata Steel is set to merge its British unit Corus with itself by next year to save costs up to 350 million pounds, and the move is likely to put thousands of jobs at risk, a media report has said.
Faced with one setback after another in expanding the scope of mining in the country, almost all the major miners of the world have wound down their operations in India.
Tata said last week it was "committed to seeking all credible options in an urgent manner"
Import duty on steel is a critical factor determining domestic steel prices. Auto component makers and automobile majors, faced with sagging sales over the last two quarters, have expressed strong reservations against the steel industry's demand for re-imposition of 5 per cent import duty on non-alloy steel (used to manufacture car bodies and stamped auto parts).
International Iron and Steel Institute has ranked India as the seventh largest steel producer in the world with an overall production of about 40 million tonnes in 2006, Lok Sabha was informed on Monday.
The plant, which will become operational in 50 months time, will be a joint venture between China's leading Wuhan Iron and Steel Group and the Guangxi regional administration's agency for the management of state assets. The setting up of the steel plant is a part of major moves by China to reorganise its steel sector to make it more competitive.
Bajaj Finserv, ICICI Bank, Nestle, UltraTech Cement, Bajaj Finance, Maruti, Tata Consultancy Services, IndusInd Bank and State Bank of India were the major laggards. Infosys, JSW Steel, NTPC and Power Grid were the gainers.
Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.
State exchequer lost Rs 325 crore, says Lokayukta.
RINL is among the few firms that had effected price hikes, both in the current month and in the previous one.
The L N Mittal-led giant is also said to be looking for a tie-up with Grupo Villacero, a steel distribution company in Mexico.
Union Budget 2014-15 is positive for metals and mining companies.
Boring through the rubble of the collapsed Silkyara tunnel was put on hold again on Thursday apparently after cracks appeared in the platform on which the drilling machine rests, in a fresh hurdle to the rescue of 41 workers trapped inside for 11 days.
The bill has now been sent to the Mines Ministry for fine tuning and the final draft is to be placed before the group of ministers at its next meeting.
From the Sensex pack, Power Grid, Mahindra & Mahindra, JSW Steel, HCL Technologies, Sun Pharma, Nestle, IndusInd Bank, Reliance Industries, Bharti Airtel and ITC were the major laggards. Tech Mahindra, Wipro, Bajaj Finance, State Bank of India, Bajaj Finserv, Axis Bank, Titan and ICICI Bank were among the major gainers.
From the Sensex pack, Infosys, Tata Motors, UltraTech Cement, HDFC Bank, NTPC, IndusInd Bank, Larsen & Toubro, HCL Technologies, Power Grid, Maruti, HDFC and Tata Steel were the major laggards. Kotak Mahindra Bank, Asian Paints, Nestle, Titan, State Bank of India and Reliance Industries were the gainers.
The report says that SAIL had started clearing forests, but since October, 2010, it could cut down only 12 trees till now.
Earlier, proceeds from disinvestment were shown separately as part of the miscellaneous receipts in the Capital Receipts Budget.
The Tamil Nadu government has agreed to help Tata Steel procure nearly 10,000 acres of land for its Rs 2,500-crore (Rs 25 billion) titanium dioxide project in Tuticorin district, 540 km south-west of state capital Chennai. This is the first time the state government has officially said it will get involved in the land acquisition process for Tata Steel's ambitious project, which has been on paper for nearly a year.
Benchmark Sensex and Nifty closed at new lifetime high levels on Monday on foreign fund inflows and buying in index majors HDFC Bank and Reliance Industries. The 30-share BSE Sensex jumped 529.03 points or 0.80 per cent to settle at its new all-time closing high of 66,589.93. During the day, it climbed 595.31 points or 0.90 per cent to hit its lifetime intra-day peak of 66,656.20. The NSE Nifty went up by 146.95 points or 0.75 per cent to end at a new record high of 19,711.45.
Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers. Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
Vizag Steel Plant is looking to hire 120 graduates as trainees for its operations in Vizag, Hyderabad, Chennai, Delhi, Kolkata and Mumbai.
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