Business
Steelmakers Need To Collaborate With IISc and IITs: Minister
BENGALURU: Union Steel Minister HD Kumaraswamy has said that steelmakers need to collaborate with leading institutions such as the Indian Institute of Science (IISc) and the Indian Institutes of Technology (IITs) to create a globally-competitive and technologically-advanced steel industry. He said India’s steel sector stands as the backbone of...
Adani Group MCAP Plunges By Rs 2.19 Lakh Crore After Bribery Charges In US
NEW DELHI: The combined market valuation of all 10 listed Adani group firms fell by Rs 2.19 lakh crore on Thursday, more than double of what the conglomerate lost when the US short seller Hindenburg brought out a damning report in January 2023. Shares of Adani group firms fell...
KMF Enters Delhi-NCR With Competitive Pricing On Nandini Products
NEW DELHI: Karnataka Chief Minister Siddaramaiah on Thursday launched the Karnataka Milk Federation’s (KMF) Nandini brand milk products in the Delhi-NCR market, pricing them marginally lower than competitors to gain a foothold in the region. The cooperative will retail four cow milk variants, curd, and buttermilk from Friday, with...
Belrise Industries Files Papers To Raise Rs 2,150 Crore Via IPO
NEW DELHI: Automotive component maker Belrise Industries has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,150 crore through an initial public offering (IPO). The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red...
Unchecked Inflation Can Hurt Real Economy Prospects, Says RBI Report
MUMBAI: Following retail inflation spike in October, the Reserve Bank of India’s (RBI’s) state of the economy report warned that rising prices, if unchecked, would undermine prospects of the real economy while cautioning on the spillover effect of rising food prices on headline and said uptick in core inflation...
Services Exports To Outgrow Merchandise By FY30: GTRI
NEW DELHI: Services exports at around $618 billion are expected to outpace merchandise exports by FY30. Within services, information technology and IT-enabled services (ITeS) may take a backseat, according to a report. Between 2018-19 and 2023-24, goods exports witnessed a compounded annual growth rate (CAGR) of 5.8 %, while...
India and The UK Set To Resume Free Trade Agreement Negotiations In 2025
NEW DELHI: India and the United Kingdom are poised to resume talks for their proposed Free Trade Agreement (FTA) in early 2025. This follows an announcement by British Prime Minister Keir Starmer after a bilateral meeting with Indian Prime Minister Narendra Modi at the G20 Summit in Brazil. The...
IT Companies Gear Up To Retain Business As New Deals Dry Up
BENGALURU: Following an expansion in large deal pipelines during 2022 and 2023, there is a noticeable decline in new mega IT deals entering the market. However, with a slew of renewals coming up next year, incumbents will defend their business interests and revenue. Although these contracts are up for...
Initial Public Offers Wait For Visibility As Fog Deepens
MUMBAI: With the stock markets going through a phase of steep correction for over a month now, many companies which had planned initial public offers (IPOs) are waiting for clarity before taking the plunge, said investment banking sources. “We are not in favor of launching issues right now as...
LNG Imports Likely To Rise 7 Per Cent In 2025
NEW DELHI: India’s import bill for natural gas surged by 17% to $8.9 billion during the first seven months of the current fiscal compared with $7.6 billion in the same period a year ago due to rise in consumption particularly by the city gas distribution companies and the power...
Chief Minister Chandrababu Naidu Fulfills Promise: Rs 60,000 Crore BPCL Project To Come Up Near Andhra Port
NEW DELHI: Andhra Pradesh is set to get an oil refinery and a petrochemical hub at Ramayapatnam in Nellore district that entails an investment of Rs 60,000 crore, fulfilling a promise made at the time of the state’s bifurcation in 2014 and giving chief minister N Chandrababu Naidu a...
No Free Power Obligation On Pumped Storage Projects: Centre To States
NEW DELHI: The Power Ministry has asked the State governments not to levy any free power requirement on pumped storage projects (PSPs). This is in contrast to the practice of allocating a percentage of the generated electricity to the home State free of cost, a senior government official said...
Steel Sector To Grow At 8%; Capacity To Rise By 20 MT By FY27: Report
The annual capacity of India’s steel industry will increase by 20 million tonne between the financial year (FY) 2025 to 2027, says Acuite Ratings and Research in its recent report. The report gives a positive outlook for the Indian steel industry in the medium to long term. Driven by...
DRDO Plans To Expand Pinaka Rocket System With Three Extended Range Variants Of 120 Km, 150 Km, And 200 Km
The Defence Research and Development Organisation (DRDO) is advancing its Pinaka Rocket System by developing three new extended-range variants: 120 km, 150 km, and 200 km. This development marks a significant enhancement in India’s artillery capabilities, aiming to provide the Indian Army with more versatile and precise long-range strike...
New Guidelines Mooted To Ease Corporate Liquidation
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has recommended several changes in the liquidation process under the Insolvency and Bankruptcy Code (IBC), in order to enhance overall efficiency, increase stakeholder confidence, and improve financial outcome for all parties involved. One key change is to allow the...
TRAI To Release Spectrum Recommendations For Satellite Broadband By December
NEW DELHI: The Telecom regulatory authority of India (Trai) is likely to come out with its recommendation for spectrum assignment to satellite broadband players and the related pricing of those airwaves by December, its chairman Anil Kumar Lahoti said. “After the open house discussion, we analyse all the comments,...
India, UK To Relaunch FTA Talks In 2025, ‘Address Remaining Issues’
NEW DELHI: India and the United Kingdom (UK) will ‘relaunch in the new year’ talks for a free trade agreement (FTA), following months of pause due to general elections in both countries, according to a statement from the UK government. “A new trade deal with India will support jobs...
SEBI Proposes Higher Lot Size, Longer Promoter Lock-In For SME IPOs
MUMBAI: The Securities and Exchange Board of India (SEBI) on Tuesday proposed a slew of changes in the guidelines for listing of small and medium enterprises (SMEs), including an increase in the lot size to Rs 2 lakh or Rs 4 lakh, higher promoter lock-in of five years and...
