Tata Steel has increased spot prices Rs 300 to Rs 500 a tonne on some long products, while public sector steel producer RINL has increased rebar prices by Rs 500 to Rs 1,000 a tonne. Rebars, which are also long products, are currently ruling at Rs 32,000-33,000 a tonne. C G Patil, director (commercial), RINL, said this was the first increase since July-August, when prices started dropping. The increase was on the back of lower production owing to power cuts.
M-cap of 35% of BSE-500 companies, excluding financial ones, is below their debt or just a shade above
The company had received a loan restructuring package from banks under the 5/25 scheme last year.
Reliance Industries (RIL), India's largest private sector company, is finalising a new alliance with engineering and project management partner Bechtel Corporation, as it prepares to enter the power sector.
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
Rs 50,000-cr loans for 15,000-Mw projects could be heading for restructuring.
Banning the import of platforms that are already being built in India serves little purpose.
Adani Data Networks said it plans to create a private 5G network for its operations. However, it acquired the spectrum in the last 5G auction alongside three telecom companies. Subsequently, it was granted a unified licence for access services, which enables it to provide telecom services in the country.
The new Parliament building will be constructed close to the existing one under the Central Vista redevelopment project, and it is expected to be completed in 21 months.
'The Modi government is trying to suppress the matter only to save its political image'
A group of retired civil servants on Tuesday wrote an open letter to Chief Justice of India N V Ramana seeking intervention by the Supreme Court in the alleged illegal detention, bulldozing of residences and police violence in Uttar Pradesh following protests against certain objectionable remarks made by two now-removed Bharatiya Janata Party functionaries.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
Reliance Industries (RIL) is likely to be the lone bidder for Mangalore-based JBF Petrochemicals, which is up for sale after defaulting on bank loans worth Rs 5,000 crore. The lenders for the second time extended the deadline for submission of bids, which had ended on August 20, as several players, including public sector companies, were redrawing their acquisition plans, said people in the know. "There were several companies which had submitted their expressions of interest (EoIs) for the company but after due diligence decided to exit the race," said a source close to the development. "The new deadline for submitting financial offers is August-end," the source said.
Was the real estate euphoria just a bubble waiting to burst? The current financial year will reveal the answer.
The people of Oting in Mon district in the northeastern state said they will erect a monolith in memory of the 14 people on the first anniversary of the killings.
The Shri Ram Janmabhoomi Teertha Kshetra Trust reported that a five-foot shivalinga, seven black touchstone pillars, six red sandstone pillars, a 'flower pinnacle' and four broken idols of gods and goddesses were found.
Provisions in the Central GST Act say reduction in GST rates or the benefit of ITC must be passed on to consumers.
The economic slowdown has made it difficult for companies to record financial closure of a few awarded projects.
The Sichuan-Tibet Railway will be the second railway line into Tibet after the Qinghai-Tibet Railway project. It will go through the southeast of the Qinghai-Tibet Plateau, one of the world's most geologically active areas, according to the Chinese official media.
The job fair was jointly conducted by the State Employment Mission and the Koraput district administration recently.
The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants. The RBI on Wednesday hiked the key benchmark rate by 50 basis points. Property consultancy firms Anarock, Knight Frank India, JLL India, Colliers India, India Sotheby's International Realty and Investors Clinic said that the RBI's move was on the expected line to control inflation and this would result in an increase in interest rates on home loans.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Retail investors-those investing up to Rs 200,000-lapped up all the four initial public offerings (IPOs) that opened for subscription on Wednesday. This is the first time since 2007 that four IPOs have been launched on a single day, according to information provided by Prime Database. KFC and Pizza Hut franchisee Devyani International (size Rs 1,838 crore); Diagnostic chains Krsnaa Diagnostics (Rs 1,213 crore), pharmaceutical firm Windlas Biotech (Rs 401 crore) and vitrified tiles manufacturer Exxaro Tiles (Rs 161 crore) are the four companies whose IPOs opened on Wednesday.
China is expected to unveil its investments in India during President Xi Jinping's visit to New Delhi, scheduled for the third week of this month.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Union Minister Nitin Gadkari on Tuesday said if the US-based Tesla is ready to manufacture its electric vehicles in India then there is 'no problem' but the company must not import cars from China. In an interactive session at the Raisina Dialogue, Gadkari further said India is a large market and there is a huge potential for all electric vehicles. "If Elon Musk (Tesla CEO) is ready to manufacture in India then there is no problem ... Come to India, start manufacturing, India is a large market they can export from India," he said. The road transport and highways minister said his request to Musk is to come and manufacture in India.
The picture is becoming bigger for the core sector. Lower margins from infrastructure projects and expectations of a higher yield from real estate projects have seen many a core sector company jumping on the realty bandwagon.
Nath said the silver bricks were bought from contributions made by members of the Congress. "We will send 11 silver bricks for the construction of a Ram temple in Ayodhya on the behalf of citizens of Madhya Pradesh," the former chief minister told reporters.
The revamp, which was announced in September last year, envisages a new triangular Parliament building, with seating capacity for 900 to 1,200 MPs, that is targeted to be constructed by August, 2022 when the country will be celebrating its 75th Independence Day.
Insecurity in a relationship comes when one partner feels inferior to the other and thinks they might lose them.
Bhogapuram international airport, Ramayapatnam and Bandar ports, the Muktyala lift irrigation scheme and a bridge across the Krishna river are some of the projects likely to be hit.
The aircraft carrier, built at a cost of around Rs 23,000 crore, set sail on Wednesday for the crucial sea trials ahead of its planned induction into the Indian Navy by August next year.
The Supreme Court Wednesday asked the Centre and the NCR states to continue implementing for few days the measures to ensure improvement in air quality, saying that preventive actions are needed in anticipation to curb pollution even as it wondered what signals are being sent to the world.
ITC's first foreign venture in the hotel space - a premium and luxury mixed-use development - has been "adversely impacted" by Sri Lanka's economic crisis, the firm said. The $300-million project under WelcomHotels Lanka (Private) Limited (WLPL), a wholly-owned subsidiary of ITC, comprises a luxury hotel and a super-premium residential apartment complex on 5.86 acres of prime sea-facing land in Colombo. In its latest annual report for financial year 2021-22 (FY22), ITC mentioned that the project's construction was running on schedule till the third quarter (Q3) of FY19, but was adversely impacted due to disruptions in the aftermath of the terror incidents in 2019 and thereafter by recurrent waves of the Covid-19 pandemic.
"The DAC accorded approval for procurement of equipment worth over Rs 5,100 crore from indigenous sources. These include sophisticated Electronic Warfare Systems for the Army designed by DRDO and manufactured locally by the Indian industry," the defence ministry said.
Top construction companies in the country are in the race to bag Rs 9,600-crore (Rs 96 billion) deal for constructing All India Institute of Medical Sciences (AIIMS) hospital in Raipur.
Pegged at $1.8 billion in construction deal size, The London Resort, which is located 17 minutes outside London, has attracted bids from three other construction majors from across the world.
The 193-member general assembly voted overwhelmingly on Wednesday to condemn Russia's "illegal so-called referendums in regions within the internationally recognised borders of Ukraine and the attempted illegal annexation of the Donetsk, Kherson, Luhansk, and Zaporizhzhia regions of Ukraine, following the organisation of the above-mentioned referendums".
India's white ball players have that imposing alpha-male like presence out there in the middle even if their best player Kohli is on the wane.
Bikers pushing their two-wheelers that were stuck and pedestrians struggling to navigate through knee-deep water was a common sight in some places.
