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NEW DELHI: The power ministry is likely to focus on augmenting transmission lines, finalising the hydro policy, viability gap funding for battery storage systems and boosting pumped hydro storage projects in the first 100 days of the new government. A senior government official told ET that the ministry will...
NEW DELHI: Coal India’s (CIL) capital expenditure as whole has risen by 6.5% on year to Rs.19,840 crore ending FY 2024, the highest till date. Comparatively, the capex was Rs. 18,619 crore in the preceding fiscal year. CIL achieved 120% target satisfaction over the year’s capex target of Rs....
NEW DELHI: Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest...
NEW DELHI: Shares of Jio Financial Services Ltd on Tuesday climbed 5 per cent after the company announced a 50:50 joint venture with BlackRock for setting up a wealth management and broking business. The stock gained 4.89 per cent to Rs 371.75 on the BSE. On the NSE, shares...
MUMBAI: Equity benchmark indices continued to slump in early trade on Tuesday on fears of escalating tensions in the Middle East and weak global trends. Foreign fund outflows and uptick in Brent crude oil prices also dented investors’ sentiment. Continuing its downtrend for the third day running, the 30-share...
NEW DELHI: India’s merchandise exports contracted 3.1% on year in 2023-24 and imports 5.3%, even though the later months of the year saw a pick-up in the two-way shipments. The contraction in goods trade with other countries came after two successive years of positive growth on the low base...
NEW DELHI: India’s wholesale price index (WPI)-based inflation accelerated to 0.53 per cent in March on an annual basis, as against 0.20 per cent in February, stated the provisional data released by the Ministry of Commerce & Industry. WPI inflation stood at 1.34 per cent in March 2023. Positive...
MUMBAI: After the Reserve Bank of India raised concerns about the high credit-deposit (CD) ratio, banks have started taking steps to bring it down by growing deposits faster in the fourth quarter. The provisional figures show that the deposit growth of several banks has outpaced loan growth in the...
NEW DELHI: In what could come as a relief to the government’s fight against inflation, the India Meteorological Department (IMD) predicted an ‘above-normal’ monsoon in 2024, which quantitatively could be around 106 per cent of the long period average (LPA). This mirrors the consensus that most weather experts have...
NEW DELHI: India continues to be the preferred destination for global businesses aiming to build and expand their digital services portfolio, according to a recent study by industry body Nasscom-Avasant. Over 50 per cent companies in the travel and transportation, telecom, media and entertainment, and construction and engineering sectors...
NEW DELHI: The Ministry of Power has asked all thermal plants using imported coal to operate at full capacity for another three and a half months till October 15 to avoid electricity shortage amid rising demand in the country. The ministry has projected peak power demand of 260 GW...
NEW DELHI: Private equity funding in the real estate sector fell 16 per cent last fiscal to USD 3.67 billion on lower interest from foreign investors, according to Anarock. In its report, Capital FLUX, real estate consultant Anarock pointed out that the private equity (PE) deals in Indian real...
NEW DELHI: Mahindra Susten on Monday said it will foray into the hybrid renewable energy segment by setting up a Rs 1,200-crore 150-megawatt solar wind energy project in Maharashtra. The project includes installation of a 101 megawatt (MW) wind and 52 MW solar capacity, Mahindra Group said in a...
NEW DELHI: The International Youth Economic Forum, organised by the Roscongress Foundation, will be held on the last day of Saint Petersburg International Economic Forum 2024 (SPIEF) on June 8. It will bring together young entrepreneurs, managers, talented students, postgraduates and scientists, including those awarded scholarships, grants and prizes...
NEW DELHI: The staffing industry grew 3.6 per cent in October-December 2023 as compared to the previous quarter, the Indian Staffing Federation (ISF) said on Monday. ISF, the apex industry body representing manpower outsourcing industry, released the Flexi Staffing Industry Employment growth report for Q3 FY2024 (October-December 2023). The...
NEW DELHI: The Narendra Modi government, confident of being re-elected, has drawn up a busy legislative plan for its first 100 days, which include creation of a national financial information registry, and key amendments to the insurance and insolvency laws, official sources said. The National Financial Information Registry (NFIR)...
NEW DELHI: The Department of Telecommunications (DoT) is expected to approach Trai this month to seek the regulator’s views on method and pricing for allocation of spectrum and scope of licences to be issued for satcom services, according to sources. “The Telecom Regulatory Authority of India (Trai) had floated...
NEW DELHI: The actual fiscal deficit of states for the financial year 2023-24 (FY24) is expected to be closer to the original budgeted estimate of 3.1 per cent of the Gross Domestic Product (GDP) instead of the revised estimate of 3.5 per cent, with both revenue and expenditure showing...