Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
Ranbaxy soared 6.5% to close at Rs 433. Cipla gained 1.6% at Rs 562. Dr.Reddy's, too, was up over 1% at Rs 1,205.
Besides financials, shares of telecom, IT, auto and pharma were in demand.
The Sensex closed at an all-time high of 9,920, up 71 points.
The 30-share BSE Sensex opened above the 9500 level and is now up 98 points at 9563. Nifty is up 28 points at 2912.
Larsen & Toubro edged up 2.55% to Rs 223.20 after posting a 42% rise in net profit for Q4.\n\n\n\n
Chairman A M Naik said H2 of 2020-21 will herald better economic and business activity in terms of tendering, good liquidity, as well as revival of labour and supply chains.
Engineering giant Larsen & Toubro (L&T) is looking to divest its exposure to road and power concessions and incubate digital and e-commerce businesses as part of its new five-year plan ending 2025-26 (FY26). The base year for the plan is 2020-21 (FY21). The blueprint, called Lakshya 2026, is intended to help the company exit sub-scale businesses, concentrate on high-technology (tech) manufacturing, construction and green energy projects, and increase its share from information technology (IT) and digital services. The lending operations of the financial services business, meanwhile, will be reorganised, with focus on retail lending.
The top driver for the Indian workforce while choosing an employer are salary and employee benefits, followed by work-life balance and job security.
The IAC would serve to bolster India's position in the Indian Ocean Region (IOR) and its quest for a blue water Navy
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
The average fall in 15 most-invested stocks by equity MFs was 5.7 per cent. Chandan Kishore Kant reports
To provide a 'data lake' solution, the markets regulator had issued a notice in May, inviting expression of interest (EoI) from interested parties. The selected company will be responsible for designing, implementing and supporting a big data solution with analytical capabilities.
Even if some of those projects remain on paper, the potential for manufacturers and engineering firms is too big to ignore
Prominent in the DRDO's display are several artillery guns, armoured vehicles and tanks that underline a measure of success in developing these key weapons platforms for the army. Here are three systems that are headed for success.
Banning the import of platforms that are already being built in India serves little purpose.
The Tatas, L&T and Bharat Forge expressed interest in building pressure swing adsorption oxygen plants at hospital sites, while IOC and RIL are pitching in with both oxygen and cryogenic tankers needed for its transportation.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
India only has 3.5 million workers undergoing skills courses a year, compared with 90 million in China
The Indian companies, however, invested a much lower $1.59 billion in overseas markets in the previous month May 2014.
Combined debt-equity ratio of top companies declines but interest expenses outgrow profits.
The first consortium includes Afcons Infrastructure, IRCON International and JMC Projects, while the second group of companies include NCC, Tata Projects and J. Kumar Infra Projects.
The change in leadership at the railway ministry comes at a time when the national transporter is grappling with low passenger earnings even as it is trying to increase freight loading and open up its doors to private investment. Union Minister Ashwini Vaishnaw took charge from Piyush Goyal who got the railway portfolio in 2017 after Prime Minister Narendra Modii dropped Suresh Prabhu from the Union Cabinet. Completing freight corridors, negotiating land for the bullet train, and speeding up monetisation plans would be some of the major focus areas for Vaishnaw.
'There were literally thousands of houses with cracks.' '40 percent of the town has been affected.'
Has the army confronted China, equipping itself with emergency purchases that have been largely paid for by pensioners, asks Ajai Shukla.
The Motera stadium in Ahmedabad dominated the headlines as it is set to become the world's largest cricket stadium.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
As with TCS, most companies put their money in mutual funds, corporate bonds and bank deposits, which are losing their appeal versus government bonds in terms of both returns and safety.
The S&P BSE Sensex surged 160 points to close at 25,262.
DRDO's Air Independent Propulsion system will allow Indian Navy submarines to operate for up to two weeks without having to surface to recharge its batteries.
'Cracks continue to appear in more and more houses.' 'We believe the government is not going to tell us the truth.'
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
The list includes Hindustan Unilever, Asian Paints and Bharti Airtel - firms that investors feel are most likely to come up with the next big innovation.
L&T, Ircon International and Tata Projects have showed interest in a tender issued by the National High Speed Rail Corporation, implementing agency for the project. The tender is for construction of stations, bridges, viaducts, maintenance depots and tunnels.
