India Inc's quarterly net profit reached a record high of Rs 1.64 trillion in the third quarter ended December 31, 2020, mainly due to gains from higher commodity prices and a big swing in banks' earnings. The combined net profit of 3,323 listed companies that have declared results so far was up 68.6 per cent year-on-year (YoY). In comparison, earnings were up six times (534 per cent) in the second quarter and 6.5 per cent in the corresponding period last year.
The group firms reported combined losses of Rs 6,134 crore in FY19 against a net profit of Rs 5,414 crore a year ago. Excluding Vodafone Idea, the group reported a net profit of Rs 8,470 crore, down from a profit of Rs 9,582 crore a year ago.
The Tata Steel nominee on the board of Riversdale, Narendra Kumar Misra, abstained from voting on a resolution to announce and recommend the offer to shareholders.
As per reports, Rs. 50,000 crore worth of projects are held back. All these will have an impact on the CV sector.
The country imported 9.31 million tonnes (mt) of steel in FY15.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
The 60-year-old actor, who earlier dabbled in politics as part of the Samajwadi Party, clarified that he wished Jankar luck but would not be joining any party.
Back of the envelope calculations put government expense on each of the new schemes promised by the DMK and the AIADMK at tens of thousands of crores. But then, neither party has said how they are going to also address the mounting debt burden either, says N Sathiya Moorthy.
Govt has allowed transfer of clearances granted to the previous allottees to new owners.
CAG audit is likely to be completed in six months.
Adani has blamed opposition to its mine for delays in moving the $7 billion project to the construction phase
The Corps commander said Pakistan and its army were desperate to disrupt peace in Kashmir Valley.
India will allow locally registered foreign firms to mine and sell coal when commercial mining is permitted as part of the opening up of the nationalised industry after four decades, Coal Secretary Anil Swarup told Reuters.
Output of capital goods -- a proxy for infrastructure investments in the country -- contracted 1 per cent in July
The industry body said a strong inter-ministerial coordination group is required to resolve sticky issues like the 'mining conundrum' and 'raw material securitisation' for sectors like steel.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Reliance ADA group is also planning to develop the railway infrastructure for transporting coal.
In the long run, the decision could bring clearer rules to a sector that has failed to provide India with enough power because it has been so hamstrung by confusion and scandals over concessions allegedly handed to government cronies.
The state government had recommended prospecting licence in favour of Posco-India thrice, but was unable to get them through.
Aditya Aluminium project ready but clearances still stuck for mine
In the face of scramble for acquiring assets in natural resources like oil, coal and mines by large multi-nationals, the government is working on a policy enabling PSUs to step up search for key raw material assets, Prime Minister Manmohan Singh said.
Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
Chidambaram promises to maintain fiscal discipline; admits inflation is an issue.
Piyush Goyal emphasised that India is committed to pursue a green path to growth.
As the Congress party prepares to launch protests against the economic slowdown, Chhattisgarh Chief Minister Bhupesh Baghel tells Archis Mohan that his state has escaped its effects as his government has pursued policies that have put money in the pockets of workers, farmers, housewives and tribals, which has helped spur demand.
During April-February, industrial output grew at 2.6 per cent compared with a growth of 2.8 per cent in the year-ago period.
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To a question on by when he expects investments to pick up, Jaitley said: "We are quite close to that point because there are a large number of investors who are waiting to come in and they only want to be doubly sure about the credibility of the decision making process and the stability of the policies."
Output of the manufacturing sector, which constitutes over 75 per cent of the index, rose 8.5 per cent in January, compared to 8.1 per cent in the same month last year.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
These numbers show overall exposure and are not a reflection that all loans are going to be impacted.
'This country has become cynical, the country has lost hope. Prime Minister Narendra Modi is getting back hope in this country.' 'We are deconstructing the past which had corruption, inefficiency, policy paralysis, a tottering economy where investors had lost confidence, and people had become cynical. We are changing that, we are bringing confidence back to the people of India.'
Hindalco is currently one of the frontrunners in the coal auction
They want the authorities to fulfill their security-related demands which include no duty in the mining area after sunset, increasing the number of security personnel and their presence in the workers' colony and in buses used to transport the workers. The operations have halted following a Naxalite attack on the site in which 10 CISF jawans and five Naxalites were killed. About 100 Nalco workers were held hostage by the ultras for over eight hours.
The government should give the first right of refusal in the ensuing coal mine auction to the companies which lost the blocks in the mass cancellation by the Supreme Court on Wednesday, former Coal Secretary PC Parakh said.
However, the number of transactions declined to 76 in January-March this year from 110 in the year-ago quarter.
Over 18 crore workers are expected to participate making this a much bigger strike than last year.
Yes Bank was the top loser in the Sensex pack cracking 6.51 per cent, followed by SBI, Axis Bank, Vedanta, Sun Pharma, ICICI Bank, IndusInd Bank, ITC, Infosys and Tech Mahindra, shedding up to 3.69 per cent.
The government may have to resort, eventually and however unwillingly, to printing money, abandoned as policy and practice in the 1990, predicts T N Ninan.
'A growth of above 7 per cent when the fundamentals of the economy are becoming stronger still makes India the fastest growing large economy.'
CEOs fear any change in status of the mines will mean disruption in production, loss of investment and increased production cost for user industries.
