India's coal prodn jumps 13 pc to 89.96 MT in Jan 2023
New Delhi/IBNS: India’s overall coal production increased by 12.94% to 89.96 Million Ton (MT) from 79.65 MT during Jan 2023 as compared to Jan 2022, according to the Ministry of Coal.
Finance
Food Corporation of India sells 9.2 LMT wheat in two days of e-auction
New Delhi/IBNS: The Food Corporation of India (FCI) sold 9.2 LMT of wheat across the country in two days of e-auction, Ministry of Consumer Affairs, Food & Public Distribution said Friday.
IndiGo Q3FY23 PAT soars 1000 pc to Rs 1423 cr
Mumbai/IBNS: InterGlobe Aviation, the parent company of budget carrier IndiGo, Friday reported a mega jump in net profit by 1000 percent to Rs 1422.6 crore for the December 2022 quarter against a net profit of Rs 129.79 crore in the year-ago period.
SBI's Q3FY23 net profit jumps 68 pc y-o-y to Rs 14,205 cr; NII at Rs 38,069 cr
Mumbai/IBNS: State Bank of India (SBI) reported a 68 percent year-on-year jump in net profit to Rs 14,205 crore for the quarter ended December 31, 2023, on account of a reduction in provisions and strong core income growth.
Vi to convert all govt dues to equity; govt to take 33 pc stake
Mumbai: The Centre has asked the cash-strapped telco Vodafone Idea (Vi) to convert all interest related to payments for spectrum and other dues into equity.
Tata Power Q3FY23 PAT jumps 91 pc y-o-y to Rs 1,052 cr
Mumbai/IBNS: Tata Power (NSE,BSE: TATAPOWER) today said its PAT in Q3 FY23 rose for the 13th straight quarter to Rs 1,052 crore, up 91% year-on-year from Rs 552 crore in the same quarter last fiscal.
FM Sitharaman says LIC, SBI exposure to Adani Group within permissible limits: Report
Mumbai: Finance Minister Nirmala Sitharaman Friday said the exposure of big lenders such as LIC and State Bank of India (SBI) to the crisis-hit Adani Group is well within the permissible limits as stated by these lenders, according to media reports.
Tata Steel sets up an Innovation Centre for Mining & Mineral Research at IIT (ISM) Dhanbad
Dhanbad: Tata Steel has established a Centre for Innovation in Mining and Mineral Beneficiation at the Indian Institute of Technology (Indian School of Mines), Dhanbad with an aid of Rs 22 crore.
VFS Capital launches business operations in Rajasthan
Jaipur: VFS Capital Ltd, a leading Kolkata-based NBFC-MFI has announced the launch of its business operations in Rajasthan, thereby expanding its footprint in 14 states in the country.
Rajan Pental appointed as Executive Director of Yes Bank
New Delhi: Yes Bank announced that the Reserve Bank of India (RBI) has approved the appointment of Rajan Pental as an Executive Director of the Bank for a period of three years w.e.f. Feb 2, 2023.
Indian Market: Sensex zooms 909.64 pts
Mumbai: The equity market ended strong on Friday, as the BSE sensex zoomed 909.64 pts to close breaching 60K level at 60,841.88 on the strength of Consumer Durable, Auto, BSE services and Financial Services stocks.
SAIL records best ever monthly production in January 2023
New Delhi: The Steel Authority of India Limited (SAIL), a maharatna PSU under the Ministry of Steel, on Friday said it has recorded the best ever monthly production in January 2023.
Union Budget 2023-24: Gems and jewellery industry unhappy over 10 pc import duty on gold
New Delhi/IBNS: The gems and jewellery industry expressed disappointment over the Union Budget 2023-24 presented by Finance Minister Nirmala Sitharaman on Wednesday (Feb 1), saying that it failed to address the industry’s core concerns.
Honda Motorcycle & Scooter India registers 296,363-unit sales in Jan 2023
Gurugram/IBNS: Honda Motorcycle and Scooter India (HMSI) Thursday said its total sales For January 2023 stood at 296,363 units, including 278,143 domestic sales and 18,220 exports for the month.
Aditya Birla Capital's consolidated PAT grows 27 pc y-o-y to Rs 530 cr
Mumbai/IBNS: Aditya Birla Capital reported a net profit of Rs 530 crore for the quarter ended December 2022, up 27 percent year-on-year compared to Rs 416 crore recorded in the same quarter of last year.
Bank of England raises interest rate by 50 bps to 4 pc; warns more hikes in the future
London: Bank of England raised interest rate by 50 basis points to 4 percent, the 10th increase since UK’s central bank started hiking in December 2021, bringing the key rate to its highest since 2008, Bloomberg reported.
BYJU's cuts off 1,000 more jobs: Report
Bengaluru: Ed-tech company BYJU’s laid off 1,000 more employees in a fresh round of layoffs, media reports said.
Adani group company stocks lose $100 billion despite Gautam Adani's statement to restore investor confidence
Mumbai/IBNS: Stock prices of listed companies Adani Group companies continued to slide on Thursday despite a statement by conglomerate’s chairman Gautam Adani to placate investors, reiterating that the group has an impeccable track record in servicing its debts.
Gautam Adani clarifies on Ambuja and ACC shares
Thiruvananthapuram/UNI: Adani Group has issued a clarification on misleading news on pledge of shares of Ambuja Cement Ltd and ACC Ltd.
Budget 2023: New Savings Window For Women
Union Budget 2023 will encourage women to save more, courtesy of a brand new deposit scheme that the Finance Minister has worked out for them, complete with a fairly attractive rate of interest and add-ons like partial withdrawals, subject to conditions.
Amid crisis, Adani Enterprises withdraws fully subscribed FPO
Thiruvananthapuram/UNI: The Board of Adani Enterprises Ltd. (AEL) has decided not to go-ahead with the fully subscribed Follow-on Public Offer (FPO).
Budget 2023-24: Push for millets, bio gas, agri-tech, increased agriculture credit target welcomed
New Delhi/IBNS: Finance Minister Nirmala Sitharaman allocated around Rs 1.15 crore to Ministry of Agriculture and Farmers Welfare in Budget 2023-24 against the last year's approximately Rs 1.10 lakh crore, a hike of around 4.6 percent.
Budget 2023-24: EV sector welcomes custom duty reduction on capital goods for Lithium batteries manufacturing
New Delhi/IBNS: The electric vehicle industry welcomed the reduction in customs duty on lithium cells and subsidy extension on batteries announced in the Union Budget 2023-24 by Finance Minister Nirmala Sitharaman on Wednesday.
Budget 2023-24 continues from the last year which steered India through toughest periods faced by mankind: BSE MD & CEO Sundararaman Ramamurthy
Mumbai/IBNS: The Budget of 2023 continues from the earlier budgets which successfully guided India during one of the toughest periods for mankind, with a continued focus on Aatmanirbhar Bharat and Amrit Kaal, said BSE MD & CEO Sundararaman Ramamurthy reacting to the Budget.
'High quality budget focusing on infra growth, fiscal discipline': Tata Steel CEO & MD T. V. Narendran
Jamshedpur/IBNS: Lauding the government’s increased focus on the development of capital infrastructure, Tata Steel CEO & MD T. V. Narendran called the Budget a “high-quality budget”.
Budget 2023 reactions: Indian biz sector says budget will push growth
New Delhi/IBNS: The Indian business sector Wednesday extolled Finance Minister Nirmala Sitharaman Union for maintaining a continued focus on growth in terms of capital formation and job creation while reducing the tax burden on the salaried class in Budget 2023.
Union Budget 2023: SBI, PNB Housing, Kotak Investment Advisory react
New Delhi/IBNS: Finance Minister Nirmala Sitharaman on Wednesday (Feb 1, 2022) tabled the Union Budget for the Financial Year 2023-24 with a major focus on capital formation with the highest outlay ever outlay of Rs 2.40 lakh crore, about 9 times the outlay made in 2013-14. In a major relief to the middle class of the country, the Basic exemption limit has been raised to Rs 3 lakh from the existing Rs 2.5 under the new income tax regime in Budget 2023-24. Tax rebate under Section 87A has been hiked from Rs 5 lakh to Rs 7 lakh.
Hinduja Group commends FM Sitharaman for growth focussed inclusive Budget with emphasis on capital expenditure
New Delhi/IBNS: The Hinduja Group has lauded the Union Budget presented by Finance Minister Nirmala Sitharaman on Wednesday (Feb 1, 2022) for the Financial Year 2023-24 with a major focus on capital formation with the highest outlay ever outlay of Rs 2.40 lakh crore, about 9 times the outlay made in 2013-14.
'Budget aptly prioritizes growth; I welcome increased capital spending of Rs 10 lakh cr': Tata Sons Chairman N Chandrasekaran
Mumbai/IBNS: Tata Sons Chairman N Chandrasekaran has praised the Union Budget for prioritizing growth “given the challenging macro backdrop of slowing global growth and tightened financial conditions.”
And now, a mutual fund based on women leadership
The first mutual fund based on women's leadership in the corporate sector has been lined up for the Indian market. The asset management outfit promoted by institutional money manager Motilal Oswal has worked out a fund to track MSCI India Women's Leadership Select 30 Total Returns Index.