Steel secretary D R S Chaudhary said that the government is planning to sell 10 per cent stake.
Draft Red Herring Prospectus (DRHP) filing continued to be robust in October, signifying the optimism in the initial public offer (IPO) market despite the recent turbulence in equities. In October, 17 companies filed their offer documents for IPOs. The rush in filings has made August-October 2023 the best three-month period for DRHP filings since July-September 2021.
The big feature is the introduction of the 1.5-litre four-cylinder diesel engine.
'Had they agreed to our demands that we raised two years ago, we would have never started our agitation again.'
'I felt very, very good sitting on the hot seat. It's a different feeling altogether.'
'Since God was being shown in live action on such a large scale, Prasanth was initially sceptical about going with an animated character.'
Investors are showing some interest in the downstream energy cycle. Refiners and marketers, especially the public sector (PSU) oil marketing companies (OMCs) could see a revival of marketing margins. Lower crude oil and gas prices may also improve margins in industries like paints, logistics, synthetic fabrics, plastics, and fertilisers. In the medium-term, however, there could be a supply overhang affecting OMCs as new refining capacities are scheduled to be commissioned, especially in China, and this may lead to a drop in the refining margins as capacity would be surplus to demand until and unless there's a pick-up in global growth.
State-run power transmission firm PowerGrid has called for fresh offers from shortlisted bidders BHEL-ABB and Siemens for its Rs 7,000-crore HVDC (high voltage direct current) sub-stations' project.
Against predictions by most exit polls that the ruling Congress had an edge in the state, the BJP banked heavily on the charisma of the PM.
With a view to increasing the revenues of state governments and local bodies, the central government has decided to raise the ceiling on professional tax.
Revenue rises 20.7% to Rs 36,854 crore.
Total income from operations, however, dipped 27 per cent to Rs 68,261 crore.
Even as thousands of people are reeling under drought in Telangana, Chief Minister K Chandrasekhar Rao is organising an Ayutha Maha Chandi Yagam on a scale that is unprecedented.
ETA Star Property Developers, a joint venture between the Dubai-based Al-Ghuriair and Hong Kong-based Amana Investments, is planning to develop an integrated township in Sriperumandur, 50 km from Chennai, at an investment of around Rs 7,500 crore (Rs 75 billion).
Jet fuel or ATF price on Wednesday was cut by almost 6 per cent after four rounds of monthly increases since July, while commercial cooking gas (LPG) rates were raised by a steep Rs 101.5 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG - used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder. Aviation turbine fuel (ATF) price was cut by Rs 6,854.25, or 5.79 per cent, in the national capital to Rs 111,344.92 per kl from Rs 118,199.17, according to a price notification of state-owned fuel retailers.
K L Rahul might be asked to keep wickets to bolster the batting.
Share of central government will be Rs. 5,100 crore and of the state governments of Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal will be Rs. 1,900 crore.
Life Insurance Corporation of India (LIC) reported weak growth through H1FY24 but it witnessed a boost in embedded value (EV) due to equity-market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals, sticky operating expenses (reduced slightly year-on-year but up in Q2FY24 versus Q1FY24), and high sensitivity of embedded value to equity volatility. Traders may also factor in the likelihood of another stake sale by the Government of India.
The new SX4 comes with many features including an all new touch-screen audio with integrated navigation with Bluetooth.
Margins for the oil refining and retailing sector have moved off their peaks, and the average integrated margins (refining plus marketing) for oil marketing companies (OMCs) have normalised. The ascent in crude oil prices, combined with static retail prices, has depressed marketing margins for diesel and petrol. However, the fall in marketing margins has been offset by increased gross refining margins (GRMs).
Uttar Pradesh Chief Minister Mayawati on Tuesday announced a whopping Rs 7,000-crore in financial schemes dedicated to late Bahujan Samaj Party founder Kanshiram and asked party workers to be ready for mid-term polls. Addressing a massive Savdhaan Raho, Aage Badho rally at Ramabai Ambedkar grounds near Lucknow, she cautioned the people against being induced by the 'media, mafia or money' which political rivals Samajwadi Party, Congress and the BJP could use against the BSP
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
The company's turnover dipped to Rs 64,990 crore.
The court also ordered that of the total fine amount imposed on the convicts, Rs 12 lakh will be paid to the victim's family.
IT major Wipro on Thursday said it will pay Rs 7 crore (Rs 70 million) each to its former joint chief executives Girish Paranjpe and Suresh Vaswani as severance packages.
Sequentially, the loss widened from Rs 2,416.37 crore in the third quarter ended December 2017.
People must have tolerance for each other's opinion at a time when the tolerance level has gone down internationally, Supreme Court judge Justice Sanjay Kishan Kaul said on Friday.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
The IT-BT minister claimed that the then BJP government did not merely charge a '40 per cent commission', as his party had claimed during the assembly election, but had collected a commission of more than 400 per cent.
The country's biggest bank SBI on Friday posted over two-fold jump in standalone net profit at Rs 16,884 crore for the first quarter of the current financial year, helped by decline in bad loans and improvement in interest income. State Bank of India (SBI) had reported a net profit of Rs 6,068 crore in the April-June quarter of 2022-23. The bank's total income increased to Rs 1,08,039 crore in the first quarter of 2023-24, as against Rs 74,989 crore in the same period a year ago, as per the regulatory filing.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
The resolution seeking his reappointment as chairman and managing director of the diversified conglomerate will be put to vote at the company's annual general meeting to be held on August 11, 2023, according to a notice sent to the shareholders on Tuesday. The company under Puri drove the 'ITC Next' strategy in the last four years encompassing digital acceleration, cost optimisation, investing in new growth vectors and ensuring supply chain agility, its officials said.
A strong business update for the April-June quarter of the 2023-24 financial year Q1FY24 has led to a big jump of over 7 per cent in the share price of Bajaj Finance on Tuesday (July 4). The non-banking financial company's (NBFC's) new loan book grew 34 per cent with 9.9 million new loans booked in Q1FY24 from 7.2 million loans booked in Q1FY23. The company's total customer franchise rose to 72.98 million (as on June 30, 2023), compared to 60.30 million year-on-year (YoY) with the highest-ever quarterly increase of 3.84 million in Q1FY24. Assets under management (AUM) grew by 32 per cent to about Rs. 270,050 crore in Q1FY24 from Rs. 204,018 crore in Q1FY23.
Uttar Pradesh Chief Minister and Bahujan Samaj Party chief Mayawati celebrated her 54th birthday on Friday, but without the trademark pomp, splendour and ostentatious celebrations. Instead, the CM surprised many by announcing welfare programmes for the poor and development schemes worth over Rs 7,300 crore for the state.Her earlier birthdays were celebrated as arthik sahyog diwas (fund raising day) when her partymen allegedly indulged in blatant extortion.
Prime Minister Narendra Modi on Monday said that Chief Minister Ashok Gehlot has already 'accepted defeat' by requesting him not to stop schemes initiated by the Congress in Rajasthan, and gave a guarantee that the Bharatiya Janata Party will not stop any scheme but only try to improve it.
Hewlett Packard currently owns 60.5 per cent of BSE and NSE-listed Mphasis.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition. The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition. Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.
With rupee depreciation leading to jump in oil import bill, Petroleum Minister S Jaipal Reddy said on Tuesday there was an immediate need to raise fuel prices.
SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
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