Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra and UltraTech Cement were among the gainers.
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
While there are some new faces in the cabinet, leaders such as BJP president JP Nadda and Jual Oram have returned as ministers.
K Natwar Singh wore many hats as he straddled the worlds of diplomacy, politics and writing but what remained consistent across decades was his sharp-wit and plainspeaking.
The production growth of eight key infrastructure sectors slowed to a six-month low of 7.8 per cent in November due to a decline in the output of crude oil and cement sectors. The growth rate in the production of coal, fertiliser, steel, and electricity also decreased during November this year. According to the data released by the government on Friday, the growth during the month under review, however, is higher than the 5.7 per cent recorded a year ago.
The Sittwe deal is more significant than Chabahar in Iran, where India has rights to operate only two terminals and not the port itself.
After six years of probe, the Central Bureau of Investigation filed the closure report before a special court last week as it could not find enough evidence in the case to proceed with prosecution, the officials said.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
The Coal Ministry has issued show-cause to eight firms including Hindalco Industries and Mahanadi Coalfields, and sought explanation from five firms for delays in commencing production from mines allocated to them.
'Interim Budget has ignited the entrepreneurial spirit.'
The country's largest stainless steel maker Jindal Steel (Hisar) on Wednesday marked its foray into the defence sector by forging a pact with DRDO for transfer of technology relating to high-nitrogen steel for armour applications.
No government in the past initiated the process of policy making for its next tenure even before going in for elections. Once the Model Code of Conduct is enforced by the Election Commission, should the government of the day refrain from taking an active interest in policy making for the next five years and let that be the function of the new government?, asks A K Bhattacharya.
Growth of eight key infrastructure sectors rose to 8 per cent in July 2023 compared to 4.8 per cent in the same month last year on expansion in production of coal, crude oil, and natural gas, according to the official data released on Thursday. Production of steel, cement and electricity also grew in July, the data showed.
Steel manufacturers on Wednesday hit out at 'unilateral' decision of the Oil Ministry to curb natural gas supplies from Reliance Industries' KG-D6 fields to non-core users, saying only a ministerial panel was empowered to take such decision.
Tata Steel is fine-tuning strategies to enhance revenues.
India's public sector steel companies will spend a whopping Rs 230 crore (Rs 2.30 billion) on corporate social responsibility to build 'Model Steel Villages' across the country during the current financial year.
The Steel Ministry on Wednesday said it may seek from the Environment Ministry speedy clearance to Posco's Rs 54,000 crore (Rs 540 billion) project in Orissa.
The Union Power Ministry has selected Rashtriya Ispat Nigam Limited (Visakhapatnam Steel Plant) for the National Energy Conservation Award 2002, first prize in the integrated steel plants sector.\n\n\n\n
Among the Sensex firms, Asian Paints, Tata Steel, HCL Technologies, Nestle, Maruti, JSW Steel, NTPC and Larsen & Toubro were the major laggards. Sun Pharma, Bajaj Finserv, Reliance Industries, State Bank of India and Bharti Airtel were the gainers.
Just days before the G-20 summit in London, the commerce ministry has recommended anti-dumping duty on cold-rolled stainless steel originating in eight countries, including China.
The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent. The production of refinery products, steel, cement and electricity also grew in August, the data showed.
The government will create an 'empowered mechanism' to expedite investment proposals of Rs 11 lakh crore (Rs 11 trillion) in the steel sector, steel minister Virbhadra Singh told reporters after taking charge of the ministry. His key priority, the minister added, would be to increase production and consumption and ensure optimal utilisation of raw material by producers.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Retirement fund body EPFO recorded a net addition of 17.21 lakh members in September, according to payroll data released on Monday. Month-on-month comparison of payroll data shows an increase of 21,475 net members over August 2023, a labour ministry statement said. Year-on-year comparison of payroll data reflects an increase of 38,262 net members over September 2022.
The rising steel prices have adversely affected many ongoing railway projects across the country. "We have revised the price variation clause for all our future projects so that work does not suffer due to abrupt market fluctuation," said a senior railway ministry official.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
'We need to find out whether any structural element has got fatigue.' 'We want to increase the lifespan of the bridge.'
The Korean major, which is not able to set up the unit for the past seven years because of land acquisition issues and agitation by the locals, has revised its land requirement to 2,700 acres from the earlier 4,000 acres.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
Steel Minister Ram Vilas Paswan on Thursday ruled out any divestment in the companies under the ministry and said the department had not received any letter from the finance ministry over the issue.
CBI has also named unknown officials of the union environment ministry in the PE.
The department of revenue in a notification on Wednesday said anti-dumping duty is being imposed for six months on the import of wire road of alloy or non-alloy steel from China.
India's recent move to remove additional 'retaliatory' duty on eight products from the United States (US), including apples and walnuts, would not have any negative impact on the domestic producers, the government clarified, even as the issue threatened to snowball into a political slugfest between the ruling and Opposition parties. The move would, in fact, result in competition in the premium market segment, ensuring better quality at better prices for consumers, especially for apples, a senior government official said. "There were certain concerns that were being raised on the mutually agreed solution that has come in, more specific to seven-eight agriculture products where we had levied additional import duties in retaliation to the steel and aluminum measures (imposed by the US)," Peeyush Kumar, additional secretary in the commerce department, told reporters in a briefing.
The Jharkhand government has ruled out the transfer of any portion of surplus land from Bokaro Steel Plant of state-run Steel Authority of India (SAIL) to private investors to set up industries.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances