Business
DoT Will Be Creating Performance Monitoring Units For BSNL: Scindia
NEW DELHI: The Department of Telecommunications (DoT) is in the process of forming a performance monitoring unit (PMU) for state-run telco BSNL and its efforts to roll out 4G, Telecom Minister Jyotiraditya Scindia said on Thursday. “Along with Tejas, BSNL, TCS, and C-DOT, and all our players together, we...
NHAI To Charge Double Toll From Vehicles With Non-Affixed FASTag On Front
NEW DELHI: To deter National Highway users from deliberately not fixing FASTag on the windscreen of the vehicle, NHAI has issued guidelines to collect double user fee from such users entering the toll lane with non-affixed FASTag on the front windshield from the inside, an official release said on...
Tata Power, NHPC Arms Tie Up For Solar Projects
MUMBAI: Tata Power Renewable Energy, the renewable energy arm of Tata Power, on Thursday said that it has signed a memorandum of understanding (MoU) with NHPC Renewable Energy (NHPC REL) to lead the installation of rooftop solar projects across government buildings of central ministries, states and Union territories. This...
LNG Imports Up 11% In June On Higher Demand From Gas-Based Power Units
NEW DELHI: India’s import of Liquified Natural Gas in June rose by 11% to 2,648 mmscm (million standard cubic meter) as the country’s consumption of gas increased by 7% primarily due to the rising demand for power and increased utilisation of gas based power capacities, data from the Petroleum...
Nepal, India, Bangladesh To Sign Tripartite Power Trading Deal On July 28
KATHMANDU: Nepal will sign a tripartite power trading deal next week to export 40 MW of electricity to Bangladesh via India, a senior official said on Thursday. This will be the first time in history that the Himalayan nation will sell electricity to a third country other than India....
Selection Of PSUs For Listing In The Works To Unlock Value
NEW DELHI: The government has initiated a process to identify state-run companies that can be listed, as it seeks to unlock their potential value after increasing investor appetite for scrips of its listed firms drove up their market valuations to fresh highs, said people aware of the development. National...
Strong Fiscal Position Likely To Enhance India’s Growth, Says ADB
NEW DELHI: India’s stronger-than-expected fiscal position could provide a further boost to its growth, the Asian Development Bank (ADB) said on Wednesday while keeping the Gross Domestic Product (GDP) growth projection for the current financial year (FY25) unchanged at 7 per cent. The Manila-based bank, however, said in its...
DVC To Be Corporatised, Divided Into Three Entities Keeping Ownership Intact
KOLKATA: The Damodar Valley Corporation (DVC), the first multipurpose river valley project of independent India, will be corporatised, unbundling into at least three entities for transmission, generation, and distribution to achieve greater efficiency, an official said on Wednesday. Praising the corporation, Union Power Minister Manohar Lal asked it to...
FPI Inflows In Fully Accessible Route Bonds Cross $1-Billion Mark
MUMBAI: Investment by foreign portfolio investors (FPIs) in fully accessible route (FAR) bonds has crossed the $1-billion (Rs 8,740 crore) mark in just 19 days after government securities were included in the JPMorgan global bond index on June 28. Overseas investors have poured over $1.05 billion into index-eligible bonds...
Exposure To India’s Infrastructure Sector Helps LIC, SBI Outshine Peers
MUMBAI: Shares of state-owned behemoth Life Insurance Corporation (LIC) have outperformed rivals like HDFC Life and ICICI Prudential Life as it placed bets on India’s growth sectors, including infrastructure, while the private sector concentrated bet on tech, consumer and consumer-related BFSI companies. LIC’s stock has gained nearly 79 per...
Cabinet To Soon Decide On IPEF’s Clean, Fair Economy Agreements
NEW DELHI: The Union Cabinet will soon take a decision on the commerce ministry’s proposal to seek approval for signing of 14-member IPEF (Indo-Pacific Economic Framework for Prosperity) bloc’s agreements on clean and fair economy, an official said. Last month in Singapore, 13 IPEF bloc members signed these agreements,...
SEBI’s Proposal On New Asset Class For High Risk Takers Looks Promising: Experts
NEW DELHI: Capital markets regulator Sebi’s proposal for introducing a new asset class for high-risk profile investors can help them gain access to a newer set of strategies including long-short equity fund and inverse Exchange-traded Fund (ETF). The new asset class is aimed at bridging the gap between mutual...
Corporate Funding In Solar Sector Globally Dips: Mercom
NEW DELHI: Total corporate funding in the solar sector globally fell by 10 per cent to USD 16.6 billion in January-June 2024 due to uncertainties in major markets including the US, according to Mercom Capital. In the first half of 2023, the global solar energy sector attracted USD 18.5...
ADB Retains India’s Growth Forecast At 7% For FY’25
NEW DELHI: The Asian Development Bank (ADB) on Wednesday maintained India’s GDP growth forecast at 7 per cent for the current financial year, citing that a rebound in agriculture is expected given above-normal monsoon projections. The ADB forecast comes a day after the International Monetary Fund revised upward its...
PwC For Extension Of Beneficial Tax Regime For New Manufacturing Firms
NEW DELHI: Tax consultancy firm PWC has urged Finance Minister Nirmala Sitharman to extend the beneficial tax regime for new manufacturing companies and introduce a comprehensive tax amnesty scheme for cases related to Customs. Sitharaman is scheduled to present the Union Budget for 2024-25 on July 23. “I think...
SEBI Proposes New Asset Class For Risk Takers
MUMBAI: The Securities and Exchange Board of India (Sebi) on Tuesday proposed a new asset class for investors with higher risk appetite and willing to put a higher amount – a move that is aimed at curtailing proliferation of unauthorised and unregistered products as well give another investment route...
IMF Raises India’s GDP Growth Forecast For FY25 To 7 Per Cent
NEW DELHI: The International Monetary Fund (IMF) Tuesday raised India’s FY25 growth projection to 7% from 6.8% forecast in April, retaining the country’s fastest-growing economy tag. The latest upgrade reflects carryover from upward revisions in 2023 and takes into account improved prospects for private consumption, particularly in rural areas....
Defence Ministry Notifies Fifth Indigenisation List Of 346 Items For DPSUs
NEW DELHI: With the aim of boosting Aatmanirbharta (self-reliance) in defence production and minimising imports by defence public sector undertakings (DPSUs), the Ministry of Defence (MoD) has notified a fifth positive indigenisation list (PIL) comprising 346 defence items. The MoD has ordered that “these items will only be procured...
