Reliance plans Rs 3,000 crore fresh investment in Odisha
NEW DELHI: Reliance Industries Ltd will make a fresh investment of Rs 3,000 crore in Odisha, its chairman Mukhesh Ambani said in Bhubaneswar on Monday. RIL has emerged as one of the largest investors in the state having already invested Rs 6,000 crore there, he said. “We are committing to invest an additional Rs 3,000 […]
PepsiCo becomes first company to use inland waterways for container movement
NEW DELHI: Food and beverages major PepsiCo India Monday said it has become the first company to use the country’s inland waterways for container movement by transporting products from its plant in Kolkata to Varanasi. Prime Minister Narendra Modi Monday inaugurated India’s first multi-modal terminal on the Ganga river in his parliamentary constituency at Varanasi […]
Vedanta plans to inject Rs 15000 crore in Odisha
BHUBANESWAR: Vedanta Resources Chairman Anil Agarwal on Monday announced the company’s plan to inject Rs 15,000 crore to raise the alumina refinery capacity at Lanjigarh three-fold to six mtpa and firm up downstream sector in Odisha in three years. The expansion of the Lanjigarh plant in phases would increase the capacity of the refinery from […]
India cancels ED officer Rajeshwar Singh’s leave
NEW DELHI: The government of India has cancelled ED’s chief investigating officer for 2G cases Rajeshwar Singh’s leave, granted to him last month for pursuing a masters in law, without citing any reason, officials said on Monday. Rajeshwar Singh, who was under investigation for writing a letter against Finance Secretary Hasmukh Adhia a few months […]
Vondom partners with P3 Architectural Solutions for exclusive distribution in India
NEW DELHI: Another feather in the cap of P3, wherein P3 and Vondom join hands to market their outdoor furniture on Exclusive Pan India tie up. Vondom produces sophisticated indoor and outdoor furniture made of polyethylene and polypropylene which includes chairs with or without illumination, tables, sofas, sun lounges and daybeds with simple – elegant […]
Surplus, liquidity issues likely to rock RBI’s November 19 board meeting
NEW DELHI: The RBI’s board meeting on November 19 is expected to be a stormy affair in the backdrop of the ongoing tussle between the government and the central bank, sources said, adding that some members are likely to raise issues concerning capital framework, management of surplus and liquidity measures for MSMEs. Tensions between the […]
FPIs infuse Rs 4,800 crore in just 5 trading sessions on cooling crude oil prices
NEW DELHI: Foreign investors have pumped in nearly Rs 4,800 crore into the Indian capital markets in the last five trading sessions, after pulling out hefty funds in October, amid cooling global crude oil prices and rising rupee. The recent infusion comes following a net outflow of more than Rs 38,900 crore in October, which […]
India contracts 8 lakh tonnes of sugar exports so far
NEW DELHI: Saddled with surplus stock, sugar mills in India — the world’s second largest producer, have contracted to export about 8,00,000 tonnes of the sweetener so far to countries like Middle East and Sri Lanka, a government official said. Out of the total contracted quantity, raw sugar comprises 6,00,000 tonnes and the rest 2,00,000 […]
357 infrastructure projects show cost overruns of over Rs 3.39 lakh crore
NEW DELHI: As many as 357 infrastructure projects, each worth Rs 150 crore or above, have shown cost overruns to the tune of over Rs 3.39 lakh crore owing to delays and other reasons, a report said. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. “Total original […]
Reliance Communications pays Rs 62.4 lakh to settle case with Sebi
NEW DELHI: Reliance Communications (RCom) has settled a case with the Securities and Exchange board of India (Sebi) for alleged non-cooperation with credit rating agencies and debenture trustees in violation of listing norms. The company has also reached a settlement regarding non-compliance with listing norms, including failure to inform interest payment default on debentures, Sebi […]
NHPC board to consider share buy-back proposal
NEW DELHI: State-run hydro power giant NHPC (National Hydroelectric Power Corporation) on Friday said its board may consider a proposal to buy back shares at its meeting scheduled on November 14, in line with the government’s aim to garner around Rs 80,000 crore from disinvestment this fiscal. The board of directors may consider the proposal […]
Net inflows in equity schemes of Mutual Funds touch 7-month high in October
NEW DELHI: Net inflows in equity schemes of mutual funds in October were the highest in seven months, as investors stayed put despite a correction in the market, data from the Association of Mutual Funds in India (Amfi) showed on Friday. Net inflows in equity mutual funds rose nearly 13% in October to Rs 12,622 […]
Mphasis acquires US-based Stelligent for $25 million
MUMBAI: Mid-size information technology company Mphasis on Friday announced acquisition of a US-based technology services player Stelligent for $25 million in an all-cash deal. Established in 2007, the Reston, Virginia- headquartered Stelligent specialises in ‘DevOps automation’ on Amazon Web Services (AWS), the online retail giant’s cloud offering, an official statement said. Mphasis chief executive and […]
India inducts 3 major artillery gun systems
DEOLALI: India’s Defence Minister Nirmala Sitharaman on Friday inducted three major artillery gun systems, including the M777 American Ultra Light Howitzers and the K-9 Vajra, into the Army. The third gun system inducted is the ‘Composite Gun Towing Vehicle’ for towing some of the existing guns in service with the country, while K-9 Vajra is […]
Hyderabad metro’s Hi-Tec City stretch to open by December end: Official
HYDERABAD: A 10km metro rail stretch between Ameerpet and Hi-Tec City will be opened by December end this year, a top official said on Monday. Work was going according to schedule, Hyderabad Metro Rail Limited (HMRL) managing director N V S Reddy told mediapersons here. “Metro work progress is pretty good and it is going […]
NCDRC directs Unitech to refund over Rs 18 crore to home buyers’ association
NEW DELHI: The National Consumer Disputes Redressal Commission (NCDRC) has asked real estate giant Unitech Limited to refund over Rs 18 crore to members of a home buyers’ union for failing to hand over the possession of apartments. The apex consumer commission has asked the company to refund within six weeks the amount of Rs […]