Pune firm buys 24.46% stake from open market to become largest shareholder.
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.
Blockchain's promise: Dramatically speeding up transactions, explains Ajit Balakrishnan.
The growth in key sectors will have implications for the Index of Industrial Production as these eight segments account for about 41 per cent of the total factory output.
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
Poddar had earlier said he would sell his stake in Mangalore Chemicals to the highest bidder.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Vijay Mallya was made a Member of Parliament's standing committee on chemicals and fertilisers earlier this year.
Normally, kharif sowing of vegetable seeds starts during the first week of May across the country. Farmers start preparing their fields to make them suitable for kharif sowing during the second fortnight of April. Now, however, faced with the lockdown, farmers are in a hurry to clear their fields of rabi crop and prepare for kharif planting. With a normal monsoon forecast this year, they are doing all they can to take advantage of pre-monsoon showers.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
The output had expanded 1.8 per cent year-on-year in January.
Reliance Industries Ltd on Thursday announced a Rs 75,000 crore investment in new energy business over the next three years as the operator of the world's largest oil refinery pivots towards a greener and cleaner version. Reliance will build solar manufacturing units, a battery factory for energy storage, a fuel cell-making plant and an electrolyzer unit to produce green hydrogen as a part of the business, chairman Mukesh Ambani said at the company's annual general meeting with shareholders on Thursday. It will also set up 100 gigawatts (GW) of solar power generation capacity by 2030 and invest in setting up a carbon fibre plant.
Seeking an interim stay on the high court order, Joshi's petition said it was the top court's duty to ensure that all constitutional authorities act within the 'Lakshman rekha' drawn for each one of them.
The output of eight core industries increased 4.2 per cent in April, boosted by higher electricity, fertiliser and cement production.
The government chose moral persuasion to make people give up subsidies, notes Rahul Khullar.
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
The entire world is taking up the habit of 'namaste', Modi said.
The growth rate in September too was 3.2%.
Bhupesh Baghel said about his father that he respected his father as a son, but as a chief minister, none of his mistakes that will disturb public order can be ignored.
The expansion in September is highest since April, when the core sectors' growth stood at 2.6 per cent.
This is the first reshuffle in the Council of Ministers by Prime Minister Modi since he assumed charge for a second term in May 2019.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
Cement production contracted by 2.7 per cent as against an expansion of 6.2 per cent in October 2016.
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
Syed Firdaus Ashraf/Rediff.com tracks Prime Minister Narendra Damodardas Modi's project-launching spree with just about three months to go for the assembly election in India's most populous state.
A nearly two-fold hike in natural gas prices will incentivise investment in the hydrocarbon sector and help reduce the energy import bill, India Inc said.
"Within the broader index of industrial production, manufacturing has the largest of the weight. Having fallen off the cliff by 40.7 per cent during the April-June quarter, it is likely to witness a rebound when July IIP data is released. However, turnaround to positive growth trajectory could be some time away," Assocham said.
The culture of freebies burdens coming generations with the huge bill for the flagrant abuse of power by preceding governments, points out Virendra Kapoor.
'I think public awareness should be created and laws should not be made only for the sake of politics'
Ajit Mishra answers reader queries on the stock market.
No government can 'ignore inclusiveness in a democracy', Montek Singh Ahluwalia tells Anjuli Bhargava.
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
The state government has started advising farmers to adopt 'cosmic farming' in which they need to chant 'Vedic mantra' for 20 days in the farm for better quality and quantity of their crop.
IFFCO beat competition from among the 523 cooperatives from 30 counties that were surveyed for the agriculture and food industries sector.
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