Reliance Capital CEO Dhananjay Tiwari resigns
NEW DELHI: Reliance Capital Ltd on Wednesday said its chief executive officer Dhananjay Tiwari has resigned. The date of his cessation is March 15, 2022, the company said in a regulatory filing, without citing the reason for Tiwari’s resignation. The debt-laden company promoted by Anil Ambani is undergoing a corporate insolvency resolution process (CIRP) at […]
Zomato to provide $150 million loan to Grofers India, buy stake in Mukunda Foods
NEW DELHI: Online food delivery platform Zomato on Tuesday said its board has approved granting a loan of up to USD 150 million (around Rs 1,145 crore) to digital grocery shopping player, Grofers India Pvt Ltd (GIPL). The board has also approved acquisition of 16.66 per cent take in food robotics and automation firm, Mukunda […]
Danube Properties coming up with Rs 600 crore luxurious project in Dubai
NEW DELHI: Danube Properties, one of the most dynamic and popular private real estate developers in the UAE, has sounded that it’s soon coming up with a new property in the Dubai market. In October 2021, Danube Properties had launched ‘Skyz by Danube’ which was 100% sold out in a record-breaking time. Hence the upcoming […]
Solar manufacturing industry providing 30,000 jobs annually in India
NEW DELHI: The solar manufacturing industry is providing 29,900 new jobs every year based on the installed capacity, the government informed the Rajya Sabha on Tuesday. Under solar manufacturing, module and capacity as of date is 11,500 MW, Minister of State for New and Renewable Energy Bhagwanth Khuba said. “One MW provides 2.6 jobs per […]
Gujarat’s public debt crosses Rs 3 trillion; amount within norms
NEW DELHI: Gujarat’s public debt stood at Rs 3,00,963 crore as per the revised estimates of 2020-21, the state Assembly was informed on Tuesday. The information was given by state Finance Minister Kanu Desai in response to a written query raised by Congress MLA Punja Vansh during Question Hour. In a written reply to a […]
Flipkart strengthens distribution infra in east with growing grocery demand
NEW DELHI: E-commerce major Flipkart on Tuesday said it has expanded its network of fulfilment centres here as demand for online grocery services grew by a whopping 75 per cent since June last year. The company has launched its third grocery fulfilment centre in Amta in West Bengal’s Howrah district to meet the growing demand […]
Reliance acquires assets of Lithium Werks
NEW DELHI: Reliance New Energy Limited (“Reliance”), a wholly owned subsidiary of Reliance Industries Ltd, has today signed definitive agreements to acquire substantially all of the assets of Lithium Werks BV (“Lithium Werks”) for a total transaction value of US$ 61 Million including funding for future growth. The assets include the entire patent portfolio of […]
Grip joins hands with AUS
NEW DELHI: Grip, an alternative investment platform, has announced that it has become India’s first company to provide lease financing opportunities in drones, to retail investors. Grip and Aarav Unmanned Systems (AUS) entered into a first-of-its-kind unique lease financial deal worth Rs 3.75 crore that paves the way for retail investors to invest in the […]
Godrej Properties expands into NCR,buys 50 acres of land in Sonipat, Haryana
NEW DELHI: The Mumbai-based developer said that it has acquired approximately 50 acres of land in Sonipat, Haryana, which will offer approx. 1 million sq. ft. of plotted residential development, plot sizes and lifestyle amenities. This project will offer approximately 1 million sq. ft. of plotted residential development, offering attractive plot sizes along with exceptional […]
L&T Construction gets contracts under its water and effluent treatment biz
NEW DELHI: L&T Construction has received various contracts under its water and effluent treatment business. As per the company’s project classification, the value of contracts ranges between Rs 1000 crore to Rs 2500 crore. The Gujarat Water Infrastructure Limited (GWIL) has placed engineering, procurement and construction orders for the design and construction of the Dhanki […]
L&T Construction bags significant orders
NEW DELHI: The construction subsidiary of engineering behemoth Larsen & Toubro (L&T) has bagged “significant” orders for its power transmission & distribution business. The company classifies orders worth Rs 1,000 crore to Rs 2,500 crore as significant. The Power Transmission & Distribution Business of Larsen & Toubro has bagged orders in India and abroad. The […]
Tata Sons chief Chandrasekaran appointed Air India chairman
NEW DELHI: N Chandrasekaran, chairman of Tata Sons, has been appointed as the chairman of Air India by the airline’s board, aviation industry sources said on Monday. Salt-to-software conglomerate Tata Group had on October 8 last year won the bid to acquire debt-laden state-run Air India by offering Rs 18,000 crore for it. Tata Sons […]
India’s industrial growth at 1.3 per cent in January
NEW DELHI: Industrial production expanded by 1.3 per cent in January on an annual basis, mainly on account of improved performance of mining and manufacturing sectors, official data showed on Friday. The Index of Industrial Production (IIP) had contracted by 0.6 per cent in January 2021. As per the data released by the Ministry of […]
Maharashtra aims to become USD 1 trillion economy
MUMBAI: Maharashtra Chief Minister Uddhav Thackeray on Friday said the third budget of the Maha Vikas Aghadi (MVA) was aimed at an all-around development of the state, which was in a revival mode after the impact of the COVID-19 pandemic, and a step towards becoming a USD 1 trillion economy. Earlier, Deputy Chief Minister Ajit […]
India’s forex reserves rise by USD 394 million to USD 631.92 billion
NEW DELHI: India’s foreign exchange reserves increased by USD 394 million to USD 631.92 billion in the week ended March 4, the RBI data showed. In the previous week ended February 25, the reserves had declined by USD 1.425 billion to USD 631.527 billion. It touched a lifetime high of USD 642.453 billion in the […]
Andhra Pradesh government presents Rs 2.56 lakh crore budget for 2022-23
AMARAVATI:The Andhra Pradesh government on Friday presented the Budget for 2022-23 with a proposed expenditure of Rs 2.56 lakh crore and a projected revenue deficit of Rs 17,036 crore. Finance Minister Buggana Rajendranath presented the ambitious budget although the government fell short of its expenditure estimates in 2021-22 by a whopping Rs 55,182 crore. The […]