Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
After spending considerable time and energy in remediation efforts in the wake of the US Food and Drug Administration's warning letter on compliance issues, the company's leadership has finally set out to bring the house in order.
The company bought peace with the Union coal ministry by agreeing to almost halve its e-auction sales at 30 million tonnes this year, to make more coal available for the fuel-starved power sector.
JSW Steel is learnt to have submitted its resolution plan along with AION Capital
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
He noted that the infrastructure in India has come 'quite a ways' since Apple began to put a lot of energy in the Indian market 'because of their leadership and so forth.'
Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic.
'Lifestyle, peer pressure, lure of extra pocket money and many other factors are responsible why youth are taking drugs.'
Indian auto industry's dependence on China is high and it will continue to be so in the BS-VI era and as the country moves towards electric mobility. Domestic players lack both technological competence and the sheer pricing advantage that support Chinese imports.
The government will create an EV Venture Capital Fund, for financial support to start-ups in the segment. The overall aim is to make Tamil Nadu the preferred destination for EVs and component makers.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
'Today, I am taking new actions to restrict Iran's nuclear, ballistic missile, and conventional weapons pursuits. My Administration will never allow Iran to have a nuclear weapon, nor will we allow Iran to endanger the rest of the world with a fresh supply of ballistic missiles and conventional arms,' Trump said in a statement.
Cairn Energy, which owns a 52.11 per cent stake in Cairn India, "has voted to accept (government) conditions", the company said.
Mining conglomerate Vedanta Resources has completed the purchase of a 10 per cent stake in Cairn India from Cairn Energy, taking its total stake in the company to 28.5 per cent.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
The dealers are protesting against the use of petrol pumps for government campaigns and seeking of personal data of over a million people working there
The Silverstone-based team have finished fourth for the past two years
The new flagship Maybach S 650 replaces the S 600 in India
The broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90 in its fourth straight day of losses.
Clark's predecessor Sajid Javid had pledged to help Tata Steel UK with a proposed package of measures and new British PM Theresa May is reportedly supportive of the plan
More than three months after announcing the sale of its up to 51 per cent stake in the Indian unit to Vedanta, Cairn Energy Plc on November 23 last year had made a conditional application to seek government's nod but refused to accept partner ONGC's rights.
Cairn Energy is back to its original image of an explorer, with its prime producing properties in India now going into the Vedanta group kitty.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
The State Department said as India's number one overseas market, the US purchases close to one-fifth of its exports. India is also the fastest growing major market for American goods.
Mid- and small-cap companies seem to have done better than top-tier companies
British energy firm BP Plc is the operator of the ultradeep sea block with 26.7 per cent stake.
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
On Sunday the Ukrainian Tennis Federation urged the sport's governing body the International Tennis Federation (ITF) to immediately expel Russia and Belarus from the organisation and ban Russia from team and individual tournaments. Also, athletes from Ukraine and other nations have called on the International Olympic Committee (IOC) to suspend Russia and Belarus and ban their athletes from events immediately.
India's planned transition to electric vehicles will drastically affect the commodities market, says Aditya Gandhi
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
Brokerages expect revenue growth at a 7-quarter high but profitability may disappoint.
ATCO's subsidiary, ATCO I-Tek, will become a part of Wipro after the closure of the deal, which is expected to be completed in this quarter.
If pandemic (mis)management threatened to dominate Goa's electoral discourse, the BJP is up against a deeper structural issue in its organisation, created by the fact that a majority of the legislature party and the ministerial council is made up of Congress defectors, disparagingly referred to by the Opposition as "imports". Radhika Ramaseshan reports.
The company is currently celebrating the first anniversary of its Camry Hybrid in India during which it has sold 541 units
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
Indian Oil Corp has emerged as India's biggest company in terms of annual revenue.
The new scheme may link the incentives to the battery power - higher the power, higher the incentive and most electric two-wheelers running on Indian roads use low power and fast charging batteries.
