'Hundreds of engineers have complained that they are being threatened by criminals for allotment of contracts and extortion.'
Tata Power declared encouraging results for the April-June quarter (Q1) of the 2023-23 financial year (FY24). The firm's revenue rose 5 per cent year-on-year (Y-o-Y) to Rs 15,210 crore. It was driven by higher sales to distribution companies (discoms) and capacity addition in renewables. Company's adjusted profit after tax (PAT) rose 3 per cent to Rs 906 crore with reported PAT at Rs 1,100 crore on a one-time gain of Rs 235 crore.
Tata Steel UK is reformatting its operations in Port Talbot by investing 1.25 billion in an electric arc furnace facility with the UK government contributing 500 million. The project will take around three years to complete, if all the regulatory clearances come through. The facility will use scrap and be classified as green since it will utilise renewable power and cut carbon emissions considerably.
A team of over 200 people worked round the clock as INSTACON, the much talked about building constructed in Mohali, met its 48-hour deadline on Saturday to enter into record books as the fastest completed such building in India.
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
As FIIs pull out of road projects, doubts have surfaced about the future of new highways and roads
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
An improvement in the wind speed November 21 onwards might bring air pollution levels down.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
L&T on Thursday said its construction arm has won a large contract for the bullet train project. L&T Construction has bagged the project from National High-Speed Rail Corporation Ltd (NHSRCL). "The railways business of L&T Construction has secured acontract from NHSRCL to construct 116 route km of High-Speed ballastless track works for Mumbai-Ahmedabad High-Speed Rail (MAHSR) project, popularly referred to as the bullet train project," the company said in a statement.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
A family priest performed the prayers as per Parsi tradition before the last rites.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'The economy is expected to bounce back and things are expected to recover faster than what we previously thought.'
Financial services and consumer durable companies accounted for most of the selling by foreign portfolio investors (FPI) in the last fortnight of February. FPIs sold finance stocks worth Rs 2,263 crore and consumer durable stocks worth Rs 1,111 crore, according to data collated by Prime Infobase. Information technology (selling worth Rs 708 crore), metals and mining (Rs 694 crore), and power (Rs 497 crore) were the other sectors where overseas funds sold shares.
Computer storage chip maker Micron will set up a semiconductor assembly and test plant in Gujarat entailing a total investment of $2.75 billion (around Rs 22,540 crore), the company said on Thursday. Micron will invest up to $825 million in setting up the plant in two phases. Micron's plant has been approved under the government's "Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme,".
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
Project Vivaan won big at the Solar Decathlon, placing second overall (and missing the first position by a whisker). Members of the award-winning Team Shunya tell Mrigank Warrier how they built a carbon-neutral, water-neutral, energy-positive home for a family of four.
This includes distancing themselves from the new and emerging super-critical technology.
In a breather to the troubled edtech company, the steering committee of lenders has agreed to amend a $1.2 billion term loan with Byju's by August 3, 2023, the lenders announced on Monday. Successful execution of the amendment would "immediately" solve the loan's acceleration and end all open litigation while avoiding further enforcement actions, they in a statement. An e-mail sent to Byju's did not elicit a response.
The United States on Thursday slapped sanctions against four Iranian nuclear supply companies and one individual for procuring and attempting to procure goods for Iran's nuclear programme.
Once a quality stock has been bought, the next challenge is to hold on to it -- no mean feat in this age of information overload and incessant noise.
'The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.'
The exchange has also ordered freezing of the entire promoter shareholding of these companies till further notice
Bandhan Bank has declared disappointing results for the first quarter of the 2023-24 financial year (Q1FY24). While the market has been braced for known issues around microfinance exposures in West Bengal and Assam, there is higher stress in the portfolio. This means higher credit costs and poorer asset quality, leading to target downgrades by analysts.
The police in Noida has prohibited any religious activity, including offering of Friday prayers by Muslims, in a public park.
Power generation and distribution is the most indebted sector
Squandering the relief due to rain, Delhi recorded a jump in pollution levels and a smoky haze returned on Monday morning after residents flouted the ban on firecrackers on Diwali night.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Posting photos on Twitter, Piyush Goyal wrote, "Envisaging an enriched passenger experience with complete integration of different modes of transport, take a look at the future of New Delhi Railway Station."
Well-known companies like Wipro, ITC, Patni Computers, Spectral Services and many others have received permission to work on 'green buildings' in industrial zones of the National Capital Region like Noida and Gurgaon. Green buildings consultancy company SGS Pvt India Ltd Head Avinash Kumar said there are about 40 buildings in the country that fall under the green category and atleast 10-12 companies are in place that cater for such requirements currently.
Byju Raveendran, CEO and founder of the eponymous edtech giant, has told shareholders that the company will set up a board advisory committee (BAC). This was part of a discussion on July 4 with shareholders at an emergency general meeting (EGM). Raveendran also said that in the next EGM in three weeks will give details about BAC's members and composition.
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As of September, account for bulk of applications for availing of the government's amnesty scheme.
Tribal militants from the anti-peace talk faction of Dima Halam Daogah called Black Widow, abducted three employees of a Delhi-based construction company from a place called Muktacherra in Cachar district of South Assam on Friday.
As its backyard remains embroiled in tension, Gurugram is exercising caution.
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Most of the companies are Chinese and surprisingly all are diversified banks.
Japanese ambassador to India said that private companies as well as the government plans to invest in infrastructure space.
