Airtel institutes ESG Committee of Board of Directors
NEW DELHI: Bharti Airtel Limited (“Airtel”), India’s premier communications solutions provider, today announced that it has formed a Committee of Board of Directors (“ESG Committee”) to sharpen its focus towards its Environmental, Sustainability and Governance (ESG) agenda. Manish Kejriwal, Lead Independent Director on the Board will be the Chairman of the ESG Committee. Other Board […]
India’s Defence Ministry issues new list of firms with whom dealings have been suspended
NEW DELHI: The Ministry of Defence on Sunday issued a new list of firms with whom dealings have been suspended or put on hold or restricted procurements. The fresh list has excluded AgustaWestland and its parent firm Leonardo. The Defence Ministry had lifted the ban on them with conditions earlier this month. “There are a […]
TATA Projects’ secures 120-km Transmission Line project in Bangladesh
NEW DELHI: TATA Projects Limited, one of India’s fastest growing and most admired infrastructure companies, today announced that the company has forayed into Bangladesh’s T&D sector by securing a 400 KV Double Circuit Transmission Line project valued at approximately Rs 900 crore (USD 120 million) from Power Grid Company of Bangladesh Limited (PGCB). This 120-km […]
L&T’s construction arm bags significant orders for various businesses
NEW DELHI: Larsen & Toubro (L&T) on Monday said its construction arm has bagged significant orders for its various businesses in the country. “The construction arm of L&T has secured orders for its businesses in India,” the company said in a statement. The company’s metallurgical and material handling (MMH) business has bagged an engineering, procurement […]
Bihar has made extensive use of technology to combat pandemic: Jibesh Kumar
NEW DELHI: The COVID-19 pandemic was one of the worst times in many decades, but one silver lining is that the COVID-19 crisis pushed companies and governments over the technology tipping point—and forever changed business. It has brought about 5 years of change in digitization in just over a year. During the COVID-19 pandemic, technology […]
India’s foreign exchange reserves increase $1.9 billion to $642 billion: RBI
NEW DELHI: India’s forex reserves have increased by USD 1.919 billion to USD 642.019 billion for the week ended October 29 on a healthy increase in the currency assets and value of gold, the Reserve Bank said on Friday. The overall reserves had declined by USD 908 million to USD 640.1 billion at the end […]
India approves proposals worth Rs 7,965 crore for Armed Forces modernisation
NEW DELHI: India’s Defence Ministry on Tuesday approved proposals worth Rs 7,965 crore for modernisation of the Armed Forces under ‘Make in India’. The Defence Acquisition Council chaired by Defence Minister Rajnath Singh, accorded Acceptance of Necessity (AoN) for capital acquisition proposals for modernisation and operational needs of the Armed Forces amounting to Rs 7,965 […]
Zydus Cadila agrees to reduce price of each dose of its Covid-19 vaccine to Rs 265
NEW DELHI: Zydus Cadila has agreed to bring down the price of its COVID-19 vaccine to Rs 265 a dose following persistent negotiations by the government but a final deal is yet to be reached, sources said on Sunday. To administer the needle-free ZyCov-D vaccine, a disposable painless jet applicator costing Rs 93 is required […]
Eldeco raises Rs 275 crore debt from Tata Capital Housing Finance for its projects
NEW DELHI: Realty firm Eldeco Group on Thursday said it has raised Rs 275 crore debt from Tata Capital Housing Finance Ltd (TCHFL) to fund its ongoing housing projects. The Delhi-based Eldeco group will utilise the fund on its two residential mid- income projects in the national capital region, according to a statement. The company […]
Realty firm Hines, DNR group to invest Rs 650 crore in Bengaluru project
NEW DELHI: US-based realty firm Hines and DNR group will invest Rs 650 crore over the next three years to develop a commercial project in Bengaluru. Hines, a global real estate investment firm with a presence in 255 cities across 27 countries, entered India in 2006. Last year, Hines and Bengaluru-based DNR partnered to develop […]
Modi government invites applications for post of Sebi chairman in place of Ajay Tyagi
NEW DELHI: The finance ministry has invited applications to appoint the next chairman of the Securities and Exchange Board of India (Sebi) to succeed Ajay Tyagi, whose five-year term comes to an end in February. Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as Sebi chairman on March 1, 2017, for […]
Godrej Group headed for split of $4.1 billion business empire: Report
NEW DELHI: The $4.1 billion Godrej Group, spanning from soaps and home appliances to real estate, is headed for a split between the brothers, sources aware of the matter said, citing external advice the family has sought for an amicable division of the 124-year-old conglomerate. At present, the group is led by veteran industrialist Adi […]
JK Lakshmi Cement second quarter net profit dips 6% to Rs 87 crore
NEW DELHI: JK Lakshmi Cement Ltd on Friday reported a 6.06 per cent decline in consolidated net profit for the September quarter at Rs 87.29 crore, hit by higher input costs. The company had posted a profit of Rs 92.93 crore in the July-September period a year ago, JK Lakshmi Cement said in a regulatory […]
Dalmia Cement to set up Rs 577 crore plant in Jharkhand’s Bokaro
NEW DELHI: Dalmia Cement will set-up a 2 million tonne plant at Jharkhand’s Bokaro at an estimated cost of Rs 577 crore, Jharkhand government said on Friday. The Jharkhand government has ensured allotment of land for the cement plant, a statement from the state government said. The cement maker had expressed commitment in this regard […]
Realty major DLF cuts net debt by 16% in September quarter to Rs 3,985 crore
NEW DELHI: Realty major DLF Ltd has reduced its net debt by 16 per cent during the July-September period to Rs 3,985 crore on improved cash flows amid a revival in housing demand. According to an investors presentation, DLF’s net debt has come down to Rs 3,985 crore as on September 30, 2021 from Rs […]
CAIT pegs Rs 50,000 crore losses to Chinese exporters this Diwali
NEW DELHI: Trader’s body CAIT on Friday said it estimates Chinese exporters to suffer business losses worth Rs 50,000 crore this Diwali season due to its boycott call. The Confederation of All India Traders (CAIT) also expects that consumers may spend about Rs 2 lakh crore during the Diwali festival sale period. “Like previous year, […]