L&T Construction to build part of Mumbai-Ahmedabad bullet train track
NEW DELHI: L&T on Thursday said its construction arm has won a large contract for the bullet train project. L&T Construction has bagged the project from National High-Speed Rail Corporation Ltd (NHSRCL). “The railways business of L&T Construction has secured acontract from NHSRCL to construct 116 route km of High-Speed ballastless track works for Mumbai-Ahmedabad […]
Steel giant ArcelorMittal’s Q1 net income jumps over 80% to $4,125 million
NEW DELHI: Global steel giant ArcelorMittal on Thursday posted 80.52 per cent growth in net income at USD 4,125 million (about Rs 31,350 crore) for the first quarter ended March 31, 2022. It had posted a net income of USD 2,285 million for the year-ago quarter, the company said in a statement. “ArcelorMittal recorded net […]
Audi commences bookings for new flagship sedan A8 L priced at Rs 10 lakh
NEW DELHI: German luxury carmaker Audi on Thursday said it has commenced bookings for its flagship sedan, the new Audi A8 L in India. With a combination of the 3-litre petrol powertrain, 48V mild-hybrid system and quattro all-wheel drive, the new Audi A8 L delivers exhilarating driving dynamics, the automaker said in a statement. The […]
Inland Road Network to JNPT at a cost of Rs 3,500 crore: Nitin Gadkari
NEW DELHI: Union Minister for Road Transport and Highways Nitin Gadkari has said guided by vision of Prime Minister Narendra Modi to provide enhanced connectivity between the ports and the domestic production and consumption centres across the country, our government is committed for port led development through construction of world class road network. In a […]
US announces 1.5-year extension for some expiring immigrant work permits
By Lalit K Jha WASHINGTON: The Biden administration has announced that certain categories of immigrants, including those seeking green cards and spouses of H-1B visa holders, would be permitted to use their expired work permits for an additional 18 months, offering a reprieve to thousands of Indians working in this country and prevent further disruption […]
RBI hikes interest rate by 40 bps to 4.40%
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday increased the benchmark lending rate by 40 basis points (bps) to 4.40 per cent in a bid to contain inflation, which has remained stubbornly above the target zone of 6 per cent for the last three months. The decision follows an unscheduled meeting of the […]
Piramal Enterprises appoints Yesh Nadkarni
NEW DELHI: Piramal Enterprises Limited (‘PEL’) said that it has appointed Yesh Nadkarni as CEO of Wholesale lending, in Piramal Capital & Housing Finance Limited (PCHFL), a wholly owned subsidiary of PEL, with a primary focus on real estate lending business. In his role, Yesh will be responsible for further expanding PCHFL’s wholesale lending business, […]
Germany pledges additional 10 billion euros for India’s climate action targets
NEW DELHI: Germany on Monday committed an additional 10 billion euros assistance to India to help achieve climate action targets set for 2030 which include sourcing 50 per cent energy requirement from renewables and installing 500 GW of non-fossil fuel electricity capacity. “Germany intends to strengthen its financial and technical cooperation and other assistance to […]
Gyanesh Kumar named co-op Secretary Alkesh Sharma to be MeitY Secretary
NEW DELHI: Senior IAS officer Gyanesh Kumar has been appointed as Secretary, Ministry of Cooperation as part of a top-level bureaucratic reshuffle effected by the Centre on Monday. Kumar, a 1988-batch IAS officer of the Kerala cadre, is currently Secretary, Ministry of Parliamentary Affairs. He has been appointed as the Cooperation Secretary in place of […]
India’s unemployment rate rose to 7.83% in April, shows CMIE data
NEW DELHI: The unemployment rate in the country grew to 7.83 per cent in April from 7.60 per cent in March, according to the Centre for Monitoring Indian Economy (CMIE) data. The unemployment rate in urban areas was higher at 9.22 per cent compared to 8.28 per cent in March, the data released on Monday […]
Log9 Materials joins Indeanta Ventures for rapid charging battery tech
NEW DELHI: Advanced battery-technology start-up Log9 Materials on Monday said it has entered into a partnership with electric-mobility service provider Indeanta Ventures Pvt Ltd to provide its rapid-charging battery technology to the latter’s electric two and three-wheelers. The two partners have signed a memorandum of understanding for a long-term partnership, under which they will work […]
Mahindra’s sales jump 25% to 45,640 units in April, SUV segment grows 22%
NEW DELHI: Mahindra & Mahindra (M&M) on Monday said its total sales increased by 25 per cent to 45,640 units in April. The company’s total sales stood at 36,437 units in April 2021. The Mumbai-based auto major’s passenger vehicle sales in the domestic market rose by 23 per cent to 22,526 units last month against […]
Royal Enfield sales rise 17% to 62,155 units in April, domestic up 10%
NEW DELHI: Mid-sized motorcycle maker Royal Enfield, part of Eicher Motors, on Monday said its total wholesales increased by 17 per cent to 62,155 units in April. The company had reported sales of 53,298 units in the same month last year. Domestic sales increased by 10 per cent to 53,852 units last month against 48,789 […]
Ashok Leyland reports 42% rise in total commercial vehicle sales in April
NEW DELHI: Hinduja flagship firm Ashok Leyland on Monday reported 42 per cent increase in total commercial vehicle sales at 11,847 units in April. The company had sold 8,340 units in the same month last year, Ashok Leyland said in a regulatory filing. Domestic sales were higher 41 per cent at 11,197 units, against 7,961 […]
GST revenues at all-time high of Rs 1.68 lakh crore in April
NEW DELHI: The GST collection in April touched the highest ever level of about Rs 1.68 lakh crore, up 20 per cent from the year-ago period, on improved compliance and recovery in business activity, the Finance Ministry said on Sunday. During the month, 1.06 crore GST returns from GSTR-3B were filed, of which 97 lakh […]
Star9 Mobility Private Ltd to buy 51% stake in Pawan Hans
NEW DELHI: The government has approved selling its 51 per cent stake in helicopter services provider Pawan Hans Ltd (PHL) along with transfer of management control for Rs 211.14 crore to Star9 Mobility Private Ltd, the Finance Ministry said on Friday. PHL is a 51:49 joint venture of the government and ONGC providing helicopter and […]