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MUMBAI: The merger and acquisition (M&A) activity in the domestic fast-moving consumer goods (FMCG) sector has gathered pace in the first half of calendar year 2024, touching $938 million in terms of value — the highest in four years, data from Venture Intelligence showed. This comes at a time...
MUMBAI: Four foreign banks caught in a regulatory stalemate between European Union and Indian regulators are likely to make a request to their individual home authorities in the coming days to extend a deadline to trade with the principal local clearing house for government bonds. In upcoming quarterly updates,...
NEW DELHI: The government is examining a proposal to significantly raise the compensation of senior executives at central public sector enterprises (CPSEs) with a turnover exceeding Rs 100 crore to retain top talent and bridge the gap with private sector peers, officials said. The increase, which could be as...
DEHRADUN: The Centre has given in-principle consent to TUECO, a joint venture of UJVN Limited and THDC India Limited, to set up a coal-based thermal power plant in Uttarakhand, according to an official statement. The Central Electricity Authority had previously recommended the supply of coal to Uttarakhand for the...
MUMBAI: The positive outlook on the power and banking sectors leading to the recent rally in the benchmark indices is expected to sustain with substantial stimulus in the Budget to boost manufacturing activity in the country. The BSE Bankex rallied 8 per cent to 60,444 on Thursday against 55,998...
The Steel Executives Federation of India (SEFI) has urged the steel ministry to merge state-run Rashtriya Ispat Nigam Limited (RINL), Ferro Scrap Nigam Limited (FSNL) and Nagarnar steel plant with the Steel Authority of India Limited (SAIL), bringing together the expertise of each of these firms to form a...
BENGALURU: Despite the unsettled global geo-political climate, Hindustan Aeronautics Limited (HAL) grew 11 per cent during the year-ending March 31, 2024, recording its highest ever turnover of Rs 29,810 crores. “As on March 31, 2024, the company’s order book stands in excess of Rs 94,000 crores with additional major...
MUMBAI: The Reserve Bank of India (RBI) has proposed rationalisation of norms governing export and import transactions to promote ease of doing business and empower banks to deliver quicker and more efficient services to foreign exchange customers. According to draft norms, every exporter should furnish a declaration specifying the...
NEW DELHI: India needs to assign a specific priority sector tag for women-led rural enterprises for easier access to credit, according to a study by the World Bank. The study notes that the proposed initiative will promote women-owned growth-oriented enterprises to boost female labour force participation (FLFP). “While micro-enterprise...
MUMBAI/NEW DELHI: The Securities and Exchange Board of India (Sebi) has issued showcause notices (SCNs) to American short-seller Hindenburg Research, US-based hedge fund manager Mark Kingdon, and four others, accusing them of colluding to use non-public information to build short positions against the Adani group. According to the SCN,...
NEW DELHI: India’s peak demand for power is expected to touch 260 gigawatt (GW) during September or October, power secretary Pankaj Agarwal said on Tuesday, in what implies an unprecedented 20% surge in such demand in just two years. The secretary indicated the steep hike in demand might require...
NEW DELHI: The easing growth in gross Goods and Services Tax (GST) collections in the current financial year largely depicts that India’s economy has now transitioned into a “stabilised phase” from a “recovery phase”, meaning sub-10% growth may continue in the near-term going forward, say experts. Stabilisation phase signifies...
The coal ministry on Tuesday said it held a stakeholders’ consultation on draft Mining Plan Guidelines for Coal and Lignite Blocks, 2024, which proposes optimum extraction of mineral resources while ensuring sustainable resource management. The key elements of the draft norms include the mandatory inclusion of restoration, remediation, and...
ArcelorMittal’s South African division has decided against shutting its steel plant in the KwaZulu-Natal province and is working on a plan to make it viable, it said on Tuesday, more than six months after announcing its closure. The company’s Johannesburg-listed shares fell 12.1% by 1004 GMT after a trading...
CHENNAI: Tamil Nadu has signed three Memorandum of Understanding (MoUs) with the Ministry of Defence (MoD) to establish the country’s first three Defence Testing Centres under the Defence Testing Infrastructure Scheme (DTIS) in the State. The fourth testing centre is also under the final stages of MoUs signing and...
NEW DELHI: The commerce ministry is developing a platform for registering non-tariff barriers (NTBs) faced by exporters and taking up with the concerned countries for their resolution, a senior official said. At present, there is an information gap on these barriers particularly for small items. “We are making a...
MUMBAI: Equity benchmark indices started the trade on an optimistic note on Wednesday, with the Sensex breaching the historic 80,000-mark for the first time ever and the Nifty hitting its fresh lifetime high, amid heavy buying in bank stocks and firm global market trends. The 30-share BSE Sensex jumped...
NEW DELHI: The gross goods and services tax (GST) collection for June 2024 stood at Rs 1.74 trillion, marking 7.7 per cent year-on-year (Y-o-Y) growth, an official source disclosed to Business Standard. This Y-o-Y growth is notably less than the 12.4 per cent and 10 per cent increases recorded...