Up to government to decide on supply-side measures to contain inflation: RBI Governor
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said the government is “mindful” of the current inflation situation, and it is up to the Centre to take further supply-side measures to contain the price rise situation. “I am sure the government is mindful of the current inflation situation and it is […]
India approves procurement of military equipment, platforms worth Rs 76,390
NEW DELHI: In a significant move to boost self-reliance in defence manufacturing, the government of India on Monday approved the procurement of military equipment and platforms worth Rs 76,390 crore from domestic industries to enhance India’s overall combat capabilities. The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, cleared the procurement of next-generation […]
India’s GST revenues at nearly Rs 1.41 lakh crore in May
NEW DELHI: India’s GST revenue for May stood at nearly Rs 1.41 lakh crore, a 44 per cent increase over the same month last year, the Finance Ministry said on Wednesday. Bucking the month-on-month increasing trend of the last two months, the Goods and Services Tax (GST) revenues came in lower than the record high […]
Modi government clears entire GST compensation payable to states till date
NEW DELHI: The Narendra Modi government (Centre) has cleared the entire GST compensation payable till date by releasing Rs 86,912 crore to states, the finance ministry said on Tuesday. Of this, Rs 25,000 crore is released from the GST compensation fund and the balance Rs 61,912 crore is being released by the Centre from its […]
Coffee Day Enterprises reports Q4 net profit at Rs 58.67 crore
NEW DELHI: Coffee Day Enterprises Ltd has reported a consolidated net profit of Rs 58.67 crore for the fourth quarter ended March 2022. The company had posted a net loss of Rs 272.09 crore in the January-March quarter a year ago, Coffee Day Enterprises Ltd (CDEL) said in a BSE filing. CDEL’s revenue from operation […]
Eastern Railway achieves 100% electrification of 2,848 km network
NEW DELHI: The Eastern Railway has achieved 100 per cent electrification of its 2,848 km network with the completion of work in the 41 km Hansdiha-Godda section, an official said here on Friday. The total electrification will help reduce carbon emission significantly and support the Indian Railway in achieving its target of making the country’s […]
Aditya Birla Fashion raising Rs 2195 crore of primary capital from GIC
NEW DELHI: The board of Aditya Birla Fashion and Retail Limited (“ABFRL”) in its meeting today approved raising of up to Rs.2,195 crore by way of preferential issuance of equity and warrants to an affiliate of GIC, Singapore’s sovereign wealth fund (“GIC”). GIC will invest Rs. 770 crore now towards subscription of equity and warrants, […]
SAIL Q4 net profit falls 28 pc to Rs 2,479 crore
New Delhi: Steel giant SAIL has reported a 28 per cent fall in its consolidated net profit to Rs 2,478.82 crore for the fourth quarter ended March 2022, mainly on account of higher expenses. The company had clocked Rs 3,469.88 crore net profit during the January-March quarter of 2020-21, Steel Authority of India Ltd (SAIL) […]
Brookfield Reit declares Rs 170 crore payout in Q4, Rs 690 crore for FY22
NEW DELHI: Brookfield India Real Estate Trust (Biret), the only 100 per cent institutionally-managed Reit in the country, on Wednesday announced Rs 170 crore or Rs 5.10 per unit dividend for the March quarter, taking the total cumulative payout to Rs 690 crore or Rs 22.10/unit for the full fiscal 2022. The company said it […]
BPCL privatisation hits hurdle, as only one bidder remains in fray: Report
NEW DELHI: Privatisation of BPCL, which was dubbed India’s biggest ever, has been stalled with just one bidder left in the fray after two others walked out over issues such as lack of clarity in fuel pricing, a top source said. The government had planned to sell its entire 52.98 per cent stake in Bharat […]
Revised DPR for Noida Metro extension sent for Modi government’s nod: UP Minister
NEW DELHI: The Uttar Pradesh government has sent the revised detailed project report (DPR) for the Aqua Line metro’s extension to the Centre (Narendra Modi government) for its approval, the state’s industries minister Nand Gopal Gupta ‘Nandi’ said on Tuesday. The new metro line extension is proposed to connect Noida and Greater Noida (West) also […]
TATA Projects appoints Vinayak Pai as Managing Director Designate
NEW DELHI: As per information filed with the Stock Exchanges, TATA Projects Limited, one of India’s fastest growing and most admired infrastructure companies, recently announced that its current CEO and Managing Director Designate – Vinayak Pai has also been inducted as a Board Member of the company, as Executive Director. Prior to joining Tata Projects, […]
Narendra Modi inaugurates India’s first 5G testbed; says aims to roll out 6G end of decade
NEW DELHI: India is targeting the rollout of 6G telecom network, which will provide ultra high speed internet connectivity, by the end of the decade, Prime Minister Narendra Modi said on Tuesday. India currently has 3G and 4G telecom networks and companies are gearing up to launch 5G over the next few months. Speaking at […]
No tax on $6.38 billion transaction with Adani Group, says Holcim CEO
NEW DELHI: Swiss building material major Holcim said its USD 6.38 billion deal with Asia’s richest man Gautam Adani’s group is tax-free. Holcim had on Sunday signed a binding agreement with the Adani Group to sell its business in India — about a 63 per cent stake in Ambuja Cement, which owns a 54.53 stake […]
Jet fuel prices at all-time high with 5.3% hike
NEW DELHI: Jet fuel prices on Monday were hiked by a steep 5.3 per cent – the tenth straight increase this year — to an all-time high, in line with a surge in global energy prices. The price of aviation turbine fuel (ATF) — the fuel that helps aeroplanes fly — was hiked by Rs […]
Adani to acquire Holcim India assets for $10.5 billion
NEW DELHI: Asia’s richest man Gautam Adani’s group on Sunday said it had clinched a deal to acquire a controlling stake in Holcim Limited’s businesses in India for $10.5 billion, marking the ports-to-energy conglomerate’s entry into the cement sector. The Adani Group will acquire 63.1 per cent of Ambuja Cements Limited along with related assets. […]