Needs funds for Odisha plant expansion, to cut high debt.
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.
Mittal Steel is likely to sign within the next two months, an agreement with the Orissa government for setting up a steel plant at an investment of $7 billion.
The government is considering a proposal to enact a 'Buy Indian Act' to protect the Indian steel industry, Rajya Sabha was informed on Friday.
Auto sales, particularly of two-wheelers, may not bounce back immediately and may take another two months to come back on track even as car bookings have started seeing an initial uptick. Various states started Unlock 2.0 on Monday, following a fall in the number of Covid-19 cases. Auto sales were hit in May following the impact of Covid-led lockdowns.
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.
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.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
The US acquisition comes barely three days after Essar Global announced its acquisition Canadian firm Algoma Steel for $1.58 billion (Rs 6,900 crore).
The Centre has decided to formulate a National Steel Policy in the context of second generation reforms, restructuring and globalisation, Union Minister of State for Steel B K Tripathy said in New Delhi on Monday.\n\n\n\n
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.
Brand name Reliance finds a place in the prestigious American business magazine Forbes -- be it promoted by Ambanis or a company in the United States.
The chargesheet states that Yeddyurappa and his sons received illegal gratification to the tune of Rs 40 crore from Jindal Steels. In return, Yeddyurappa -- who was the chief minister then -- helped process the mining lease applications for Jindal.
For states like West Bengal, Bihar, Odisha, Jharkhand and Uttar Pradesh, where migration is high, the return of workers could be as much an opportunity as a liability. All states have launched portals to register migrant workers; additional fields like nature of employment and remuneration in the past 2-3 years are being added to help in skill mapping.
Tata Steel is fine-tuning strategies to enhance revenues.
JSPL is under CBI lens for giving wrong information about its land, water supply and previous allocations to get coal block in Jan 2008.
A magisterial probe has been ordered into the incident of leakage of poisonous gas at Steel Authority of India Limited's Bhilai plant in which six people, including two deputy general managers, were killed and about 30 others injured.
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.
'The second generation of migrant labourers is not enthusiastic about continuing in this field.' 'The parents of the next generation do not wish their children to be part of this trade.'
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
The asteroid sample will help scientists understand the origin of organics and water that may have seeded life on Earth 4.5 billion years ago.
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.
Virbhadra Singh and his wife Pratibha Singh were booked on Monday night by the state vigilance and anti-corruption bureau under relevant sections of the IPC (Indian Penal Code).
The coal-bearing states shall be getting additional revenue from such coal mines.
Essar Steel said on Monday it has joined hands with two state-run Vietnamese companies for setting up a two million tonne steel plant in southern Vietnam at a cost of $527 million (about Rs 23.71 billion).
The Centre stressed that the next three weeks will be critical for the country reeling from the worst health crisis as it announced a series of measures to shore up medical infrastructure and supplies and scale up vaccination.
Benchmark equity indices continued their record-shattering spree on Tuesday, with the Sensex and Nifty hitting their fresh all-time high levels in early trade, amid persistent foreign fund inflows. Also, buying in Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and HDFC twins added to the positive market momentum. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 381.55 points to hit its all-time peak of 65,586.60 in early trade.
The finance ministry on Monday said it will transfer Rs 6,000 crore as the second tranche of GST compensation shortfall to 16 states and 3 Union Territories -- including Maharashtra, Bihar, Assam, Puducherry and Delhi. The Centre had on October 23 transferred Rs 6,000 crore to 16 states and 2 UTs of Delhi and Jammu and Kashmir. In the second tranche of transfer, Union Territory of Puducherry has been included.
The Congress will conduct a caste census in Madhya Pradesh after winning the assembly polls and establish a university in the name of Sant Ravidas, said party president Mallikarjun Kharge, accusing the regime at the Centre of wishing to change the Constitution.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
From the Sensex pack, Infosys jumped the most by 3.67 per cent. Asian Paints, HCL Technologies, Reliance Industries, ICICI Bank, Wipro, NTPC, Tech Mahindra, Bajaj Finserv and Larsen & Toubro were among the other major gainers. State Bank of India, Bajaj Finance, Titan, Tata Steel, Tata Motors and UltraTech Cement were among the laggards.
This is the second incident in Nashik in nearly two weeks of killing of a person by 'cow vigilantes'.
The state government has already decided to challenge Orissa High Court's July 14 judgement that set aside recommendation of Posco-India's name for prospecting license (PL) over Khandadhar iron ore reserve.
Maharashtra Chief Minister Eknath Shinde on Wednesday said Memorandums of Understanding worth Rs 1.37 lakh crore have been signed at the World Economic Forum (WEF) annual meeting in Davos in Switzerland and termed it as a "big achievement". This will generate employment for one lakh people, said Shinde, who was in Davos to seek investments in Maharashtra. "The MoUs will not remain just on paper," he said, adding that foreign investors have shown trust and faith in the state government.
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
