In one of the biggest donations by a business family in India, the family of Adani Group chairman Gautam Adani on Thursday committed to donating Rs 60,000 crore (around $7.7 billion) to various charities related to health care, education, and skill development. The commitment has been made to mark Gautam Adani's 60th birthday on Friday as well as the birth centenary year of his father Shantilal Adani. The corpus will be administered by the Adani Foundation. "At a very fundamental level, [programmes] related to all these three areas should be seen holistically and they collectively form the drivers to build an equitable and future-ready India.
At Rs 1.196 per unit, power tariff reaches new bottom.
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Strategy might not help revive volume growth in passenger vehicle sales.
The company took five years to sell the 250,000 units of the Nano.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
Tata Power is evaluating opportunities to make another overseas acquisition of a coal mine. A senior company management executive said the company was planning to zero in on smaller mines. Prasad Menon, managing director, Tata Power, said: "We are evaluating various opportunities."
The Tata project will directly and indirectly create about 10,000 jobs
"I cannot tell Ratan Tata to go back", the West Bengal chief minister said while speaking at the annual general meeting of Bengal Chamber of Commerce and Industry in Kolkata.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
There were no casualties; a part of the wall was damaged.
There is little appetite among combat aircraft engine makers to share the IP that results from a co-creation project. But Rolls-Royce is willing to walk the Aatmanirbhar talk.
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
Equity benchmarks climbed in early trade on Wednesday amid an overall positive trend in the global markets and ahead of the presentation of Union Budget 2023-24. The 30-share BSE benchmark Sensex jumped 516.97 points to 60,066.87. The broader NSE Nifty climbed 153.15 points to 17,815.30.
Indian and global construction companies vying for Rs 12,000 crore worth of civil works for Dedicated Freight Corridor.
The new airline has begun recruiting pilots and is close to confirming its top executives, including a Singapore Airlines executive as its chief executive officer.
New Haven's' flagship project will be launched at Boisar in Mumbai and will offer 1,300 apartments, including 2 BHK and 3 BHK homes starting at Rs 12.73 lakh with a minimum size of 670 square feet, a statement said.
Tata Power Company, India's largest private power utility, has announced that it would not bid for imported coal-based Ultra Mega Power Projects in future, until the overall policy environment becomes favourable. The company plans to increase its installed power generation capacity to 8,000 Mw by 2012 and 12,000 Mw by 2014 from the current 2,700 Mw.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Videsh Sanchar Nigam Ltd's Chennai-Singapore submarine cable project might encounter a speed-breaker, making it difficult to meet the 2004-end deadline.
The houses will be made in pre-fabricated format, under which the company will provide a kit consisting of roofs, doors, windows, etc, which can be erected or assembled.
One of the challenges on diesel engine is refinement.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
Tata Steel plans to expand capacity to 10 million tonnes at Jamshedpur by August 2011 from 6.8 million tonnes.
The government has so far awarded four UMPPs to successful developers. One such project is being developed by Tata Power at Mundra in Gujarat while three others -- Sasan in Madhya Pradesh, Krishnapatnam in Andhra Pradesh and Tilaiya in Jharkhand have been bagged by Reliance Power.
Trinamool Congress workers, led by party president Subrata Bakshi, on Tuesday stormed into the prohibitory order-bound site of Tata Motors' small car project in Singur cutting about 10 feet of barbed fencing, police said.
The reopening of China has led to an ongoing readjustment of the global metals and commodities markets. China has a massive production capacity surplus to its own domestic demand. At the same time, it also has high domestic demand. China is also becoming carbon sensitive.
Tata Power Company has tied up with British oil major BP for a "joint evaluation" of Dabhol power project that has been lying idle and deteriorating for several months.
India's aviation industry could return to profitability in 2023-24 for the first time since the pandemic. The industry may pare aggregated net loss by 75-80 per cent year-on-year (YoY) to between Rs 3,500 crore and Rs 4,500 crore in 2022-23 (FY23), compared with Rs 17,500 crore of net losses in 2021-22 (FY22). A combination of recovery in passenger volumes and easing cost pressures due to stable fuel and foreign exchange (forex) costs could spark a turnaround. CRISIL says domestic and international passenger traffic recovered to 90 per cent and 98 per cent, respectively, of pre-pandemic traffic (2019-20, or FY20), in April-December 2022, compared with April-December 2019.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
"I hope there's a bad 'M' and a good 'M'," Ratan Tata quipped shortly after Gujarat became a new home for his Nano small car project.
This was how a despondent Ratan Tata, who once said he will not pull out of Singur even at gun-point, on Friday summed up his group's "painful" decision to exit the Rs 1-lakh Nano car project from West Bengal.
The total investment - by Tata Motors and its vendors - in the Rs 1 lakh car project is Rs 3,700 crore (Rs 37 billion). The West Bengal government on Thursday disclosed that the investment in the vendor park would be around Rs 2,200 crore (Rs 22 billion).
India's largest IT services player Tata Consultancy Services (TCS) saw its $2 billion, 10-year deal with Transamerica Life Insurance Company come to an end even before the period was over. Transamerica is the subsidiary of American arm of Dutch insurer Aegon NV. This is not the first time such a long-term deal has been called off. Earlier this year, UK's National Employment Savings Trust (NEST), ended a $1.8-billion deal with French IT services player Atos.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Analysts sceptical whether company will sustain rise in operating profits.
However, the cost for the coming round is yet to be decided; it will be below Rs 10 lakhs (Rs 1 million) for each unit offered, but how much below is not clear. Nor have the cities been decided.
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