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MUMBAI: The Reserve Bank of India (RBI) may allow Security Receipts (SR) holders to change the trusteeship of Asset Reconstruction Companies (ARCs). This change would enable ARCs to retain stressed assets without acting as trustees, thereby expediting the resolution process. Banks, non-banking financial companies (NBFCs) and foreign portfolio investors...
NEW DELHI: The steel ministry has roped in an in-house consultancy to explore the use of green hydrogen in the direct reduction of iron (DRI) and blast furnaces, the ministry told Moneycontrol when asked about its plans for decarbonising the sector. Iron and steel is the most emissions-intensive industry...
New Delhi: Moving towards greater indigenous acquisitions, the Indian Army for last two financial years, 2022-23 and 2023-24, inked all its contracts under capital procurements, including those under emergency category, with local companies, reported The Print. The Acceptance of Necessity (AoN) was granted to 83 percent of Indian companies...
NEW DELHI: Shares of BHEL on Thursday zoomed over 14.50 per cent after the company said it has secured an order worth over Rs 3,500 crore from Adani Power Limited to set up a thermal power project in Raipur, Chhattisgarh. The stock jumped 14.57 per cent to Rs 292.45...
MUMBAI: Benchmark equity indices Sensex and Nifty began the trade on a buoyant note on Thursday, continuing to rally for the second day running, after leaders of the BJP-led National Democratic Alliance (NDA) unanimously elected Narendra Modi as their leader. Extending its previous day’s sharp rally, the 30-share BSE...
NEW DELHI: Hindalco Industries on Wednesday announced that its US arm Novelis Inc has postponed its initial public offering (IPO) due to market conditions. Novelis will continue to evaluate the timing of the offering in the future, Hindalco said in a filing to BSE. Few days back, Novelis Inc...
NEW DELHI: India’s service sector growth eased to a five-month low in May amid fierce competition, price pressures and a severe heatwave, even as new orders from international markets expanded at the steepest pace in a decade, according to a monthly survey released on Wednesday. The seasonally adjusted HSBC...
NEW DELHI: The Central Board of Indirect Taxes & Customs has invited suggestions on the draft ‘Central Excise Bill, 2024’, which aims to enact a comprehensive modern central excise law with an emphasis on promoting ease of doing business and repealing old and redundant provisions. The main aim of...
NEW DELHI: Passing major and contentious reforms like land and labour could prove more difficult for the next Bharatiya Janata Party (BJP)-led coalition government, rating agencies, such as Fitch and Moody’s, said on Wednesday. They, however, said broad policy continuity may persist. Jeremy Zook, director and primary sovereign analyst...
NEW DELHI: The government has invited applications for the new chairman of Indian Oil Corporation (IOC), ending the uncertainty over continuance of incumbent Shrikant Madhav Vaidya. In an advertisement posted on its website, the Ministry of Petroleum and Natural Gas sought applications from engineers, chartered accountants and cost accountants...
NEW DELHI: As the 2024 Lok Sabha election results are now out and there is a high probability of the BJP-led coalition government coming back to power again, all sectors and industries — including real estate — have set their sights on the continuation of structural reforms. Industry experts...
NEW DELHI: The civil aviation ministry is looking at developing more airstrips as well as calibrating regulations for major and small airports to boost air connectivity, a senior official said on Wednesday. India is one of the fastest growing civil aviation markets in the world, with domestic air traffic...
NEW DELHI: To enhance operational efficiency and reduce the risk to clients’ securities, markets regulator Sebi on Wednesday decided to make the process of direct payout of such securities to the client’s account mandatory. This will become effective from October 14, the Securities and Exchange Board of India (Sebi)...
MUMBAI: The rate-setting panel of RBI on Wednesday started its three-day deliberations to decide the next monetary policy amid expectations of continuation of the current interest rate. Reserve Bank Governor Shaktikanta Das will announce the decisions taken by the Monetary Policy Committee (MPC) on Friday. Experts are of the...
NEW DELHI: Hindalco Industries on Wednesday announced that its US arm Novelis Inc has postponed its initial public offering (IPO) due to market conditions. Novelis will continue to evaluate the timing of the offering in the future, Hindalco said in a filing to BSE. Few days back, Novelis Inc...
NEW DELHI: In a big relief to over 20,000 homebuyers, Suraksha Group has taken control of the debt-ridden realty firm Jaypee Infratech by constituting a three-member board and will soon infuse Rs 125 crore equity fund to start construction of stalled housing projects across Delhi-NCR. The takeover follows insolvency...
MUMBAI: Notwithstanding the “unexpected” election results, chief executive officers (CEOs) of Indian companies anticipate that the new government will persist with economic reforms and maintain policy continuity, even though the National Democratic Alliance (NDA) secured fewer seats than projected in the general elections. Industry leaders are calling for continued...
NEW DELHI: The new government at the Centre may go slow in some key pending reforms, including in labour and agriculture as well as in privatisation of state-run firms, given the reduced majority of the National Democratic Alliance (NDA), analysts said.The BJP, which is short of the majority mark...