'This government is not in the hands of M K Stalin but in the hands of the bureaucracy -- the IAS and IPS.'
'Interim Budget has ignited the entrepreneurial spirit.'
The Central Bureau of Investigation on Monday filed its first charge-sheet in a Delhi court in the coal blocks allocation case against Navabharat Power Pvt Ltd for allegedly misrepresenting facts and making "fraudulent" claims to "embellish" its applications to get allotments between 2006 and 2009.
Mumbai-based Indian Semiconductor Manufacturing Company (ISMC) and Singapore-headquartered IGSS Ventures have one strategy in common: They have told the government in their application for semiconductor fabrication plants that they will export the bulk of the chips they make in India in the initial five or 10 years. The third applicant, Vedanta-Foxconn, which is also building a fab plant, has said it will concentrate on the needs of consumer electronics and mobile device markets, and earmark 80 per cent of output for domestic consumption, but has not specified its customers. Finding a viable domestic market could well be the biggest challenge for India's renewed tryst with semiconductors. Fab plants do not sell directly to end users but to intermediary chip design companies - such as Qualcomm or MediaTek.
India's sourcing from China may not necessarily be for cost-effectiveness alone but also for the lack of domestic qualified bidders, technology or other know-how.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
Closure has meant loss of Rs 2,000 crore to the public exchequer; around three per cent of Tamil Nadu's Gross State Domestic Product is from the facility
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
Ajit Pawar said CM Shinde is not capable of getting big projects to Maharashtra.
The Madras high court on Tuesday rejected a plea from mining giant Vedanta to order reopening of its Sterlite copper unit at Tuticorin in Tamil Nadu.
Top gainers in the Sensex pack included Tata Steel, Vedanta, SBI, Tech Mahindra, Bajaj Finance, Asian Paints, M&M, NTPC and PowerGrid, rising up to 3.95 per cent.
The recent migration of marquee investments from Maharashtra to Gujarat seems to have rekindled the Marathi manoos sentiment.
The Eknath Shinde-led Maharashtra government has come under fire following the Centre's announcement that Tata-Airbus C-295 transport aircraft project would be set up in Gujarat, with the opposition seeking to know why the project that was supposed to come up in Maharashtra went to the neighbouring state.
Kanika Datta explains why the Modi sarkar is gunning for non-profit organisations
According to industry experts, companies in sectors such as consumer durables (fans, air-conditioners), power cables and the electrical industry will be hit, given that they are big users of copper.
The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
'They should have spoken to the Sterlite protestors when they were sitting in the villages. They should not have waited for them to come to Tuticorin.' What started off as a lone village grumbling about ground water pollution on Tuesday turned into a battlefield. What thus started off as a lone village grumbling about ground water pollution on Tuesday finally turned into a battle field. A Ganesh Nadar reports.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
Major corporates are staring at an uncertain future after investing substantially on their projects
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
The government will undertake a detailed evaluation of applications it has received in response to the mega semiconductor scheme and expects to complete the entire process and sign agreements with companies in next 8-10 months, according to Union Minister for Electronics and IT Ashwini Vaishnaw. Vaishnaw said he is happy with the response that came in within a short period of time, when the ministry invited applications under the Rs 76,000 crore semiconductor programme. The government is confident of seeing one of the big global players in semiconductor industry coming in the next round, Vaishnaw told PTI in an interview. He asserted that many other players too are "seriously evaluating" India's semiconductor programme, and that the ministry is in discussions with several companies.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
Factories are shutting down owing to a shortage of labour and raw materials, and a lack of logistical support amid the ongoing nationwide lockdown against the coronavirus pandemic.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
'If the BJP comes back to power, Sterlite will open in one week.' 'If the Congress comes to power, it will open in one month.'
The government has a two-pronged strategy for e-auction of cancelled coal blocks.
Oil tanked to a 7-year low as OPEC decided to maintain production.
The shift to gross calorific value-based grading of coal aligned domestic prices with international benchmarks.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
The breadth was neutral with 1,329 advances and 1,320 declines.
The minister said his target is to complete Mumbai-Goa highway by 2018
The case has been registered against unidentified officials of police and revenue department on the basis of a complaint from K Arjunan, district secretary, Communist Party of India-Marxist.
According to Merrill Lynch (BofA-ML) report, Domestic capital markets are likely to remain volatile in the September-November period due to factors like US Fed's policy action, second quarter corporate earnings and Bihar state elections.
Once Bhushan Steel is into its fold, Tata Steel will increase its capacity from 12.7 million tonnes per annum (mtpa) to 18.3 mtpa
Sensex, Nifty put up a good show in closing trade.
