With a robust outlook for mineral-led growth in India, Anil Agarwal-led Vedanta Limited is looking to invest up to $20 billion across its businesses, which includes doubling of silver production and steel capacities. In a virtual press conference had last month, Agarwal said the company planned a capex of $5 billion over a period of three years. The company has not given a timeline for $20-billion investment.
Vedanta had sought handing over of the plant for three months saying it requires two months to start the unit and the company should be allowed to run it for four weeks to ascertain whether its polluting or not. The interim plea by Vedanta was opposed by Tamil Nadu government which claimed before a bench headed by Justice R F Nariman that the plant had been 'polluting consistently'.
Metal sector is not too happy from Budget announcements for the sector
The latest hike is likely to be followed by another such move next month, said industry players. Before the latest hike, companies had initiated price hikes to the tune of 12-13 per cent in 2021 but they weren't able to fully cover the increase in costs.
Like China, India too should connect the dots and move ahead with a long-term perspective in Afghanistan, advises Ambassador M K Bhadrakumar.
The China-India bilateral trade in the first half of the year totalled $57.48 billion, up 62.7 per cent year on year, perhaps the highest in recent years amid the Ladakh impasse and the COVID-19 pandemic, according to data released by China's Customs. Though Indian exports to China picked up with 69.6 per cent year on year increase, the trade deficit, a structural problem for India for long, climbed to 55.6 per cent. According to data released by China's Customs, India's exports to China reached $14.724 billion, up 69.6 per cent year on year in the first six months and India's imports from China amounted to $42.755 billion, up 60.4 per cent.
The Russian-Ukraine war can hit the global supply chains that are already constrained due to the pandemic and the worst impact will be on ongoing chip shortage because the warring nations brutally control supplies of key raw materials that go into making semiconductors, warns a report. Since Russia controls as much as 44 per cent of global palladium suppplies, Ukraine produces a significant 70 per cent of the global supply of neon -- the two key raw materials that go into making chips. The markets can expect the global chip shortage, that began with the pandemic, to worsen if the military conflict lingers on, says a Moody's Analytics report on Friday.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
The CM also announced compensation of Rs 10 lakh each for those killed during the protest and Rs 3 lakh each for the injured, government jobs for the family members of the deceased also announced.
Last week, two BSF troopers from Rajasthan, members of the UN Peacekeeping Force in Congo, were killed by protestors. Do we need to lose lives fighting in a country not ours, in a war that is not ours and for a cause that is not ours, asks Air Commodore Nitin Sathe (retd), who served in the UNPKF in Congo.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
The brand image, however, may not tarish further as it will have already taken the beating due to consistent injury
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Beyond the barbed wire and watchtowers, though, lies a story that casts more than a little doubt on whether this dream will ever be realised. Praveen Swami reports.
The aftermath of Mani Ratnam's Ponniyin Selvan has led to an argument that there was no religion as Hinduism in Chola times.
Instead, there was only Saivism, Vaishnavism, etc, and that the Cholas were Saivites, and hence not Hindus, observes N Sathiya Moorthy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Tamil Nadu government had, on May 28, ordered the state pollution control board to seal and "permanently" close the mining group's copper plant following violent protests over pollution concerns.
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
From real estate to metals, what Sitharaman's Budget has in store.
The coins will bear MGR's portrait in the centre along with the inscription 'DR M G Ramachandran Birth Centenary'.
The first bench of Chief Justice Sanjib Banerjee and Justice T S Sivagnanam of the Madras High Court also orally observed that firing upon the innocent public was a scar on Indian democracy and it should not be forgotten.
What will the Centre and the Tamil Nadu government do to answer the queries and fears of investors who will want to be doubly sure they would not be harassed at a later date, as has been happening to Sterlite, should be interesting to watch, says N Sathiya Moorthy.
A pinch of turmeric in a glass of milk or with honey in hot water would be ideal for the monsoon.
The central government is devising a mechanism to step up screening imports to protect domestic manufacturers. The details of the online monitoring system may find mention in the foreign trade policy 2021-26, which will kick in next month. The online system will make the data available to the government as well as industry about the countries from where the goods are being imported, and their quantity and quality. The data can help domestic producers analyse the market potential for such goods, said a senior government official. In the past 16 months, the government had implemented a steel- and coal-import monitoring system.
Millets can provide nutritional security against deficiencies, especially in children and women, says Sreejith Moolayil, co-founder and COO, True Elements.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The land price collected for the said land allotment will be refunded.
Globally China, Japan, Russia and South Korea and the US are the top FTTH markets.
'Do not wash your hair immediately after playing Holi; instead, brush your hair to remove dry colours from your scalp.'
Laxmi Sorte and Kaustav Ghosh, who travelled across 29 Indian states and five Union territories in 101 days, recommend a list of lesser known places in India to add to your travel bucket list.
The US economic model seems to have broken down and is in need of some major overhaul.
The National Human Rights Commission took cognisance of the violence and issued notices to chief secretary and the director general of police, calling for detailed reports in two weeks.
When it closed close down the copper plant at Thoothukudi in 2013. Its orders were held illegal by the NGT on procedural grounds
Union Budget 2014-15 is positive for metals and mining companies.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
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