ONGC NSE 1.88 % Videsh is in the process of raising $525 million in foreign currency loans from a mix of domestic and foreign lenders to repay bonds maturing next month, according to people with knowledge of the matter. ONGC Videsh, the overseas arm of the state-run explorer Oil and Natural Gas Corp, is in […]
Day: June 15, 2021
Coal India Q4 profit drops marginally by 1% to Rs 4,587 crore
NEW DELHI: State-owned Coal India on Monday reported a marginal 1.1 per cent decline in its consolidated profit at Rs 4,586.78 crore for the quarter ended March 2021 on the back of lower sales. The coal behemoth had posted a consolidated profit of Rs 4,637.95 crore in the same period a year ago, Coal India […]
RattanIndia Power pares Rs 1,219 crore debt in last 15 months
NEW DELHI: RattanIndia Power NSE 4.26 % Ltd on Monday said it has repaid Rs 1,219 crore debt in the last 15 months, including Rs 200 crore prepayment, despite the challenges posed by the Covid-19. “During the last 15 months, RPL NSE 0.00 % has repaid the debt of Rs. 1,219 crore to lenders, including […]
Vedanta to pay salary till retirement age to families of employees dying of Covid
NEW DELHI: Metal-to-oil conglomerate Vedanta will families of any of its employees dying of Covid, the last drawn fixed salary till the notional date of retirement as it expanded its pandemic cover for its employees, their families, and business partners. It announced an ex gratia payment of Rs 10 lakh each to the families of […]
Amara Raja to foray into green energy business, to rejig board
HYDERABAD: Tirupati-based battery maker, Amara Raja Batteries Ltd (ARBL), on Monday said it will be expanding its lead acid batteries business and setting up a new energy strategic business unit (SBU) encompassing lithium cell and battery pack, EV chargers, energy storage systems, advanced home energy solutions and related products and services. According to the company’s […]
Large holding by three FPIs in Adani cos made markets jittery
MUMBAI: On Monday morning, as it emerged that the accounts of three foreign funds with large exposure in Adani Group’s stocks have been frozen, investors on Dalal Street went into a panic mode. The three Mauritius-based foreign portfolio investors (FPIs) — Albula Investments, APMS Investment and Cresta Fund — together had about Rs 43,000 crore […]
Adani stocks tank as NSDL freezes accounts of 3 FPIs
MUMBAI: The stocks of six Adani Group companies, run by billionaire businessman Gautam Adani, went into a tailspin on Monday after it came to light that accounts of three key foreign investors were frozen by depository NSDL, resulting in the conglomerate losing around Rs 70,000 crore market value at one point during the session. The […]
Indonesia aims to sell only electric-powered cars, motorbikes by 2050
Indonesia aims to sell only electric cars and motorcycles by 2050 to replace vehicles powered by combustion engines, the country’s energy minister said on Monday, as the Southeast Asian country seeks to reduce its carbon emissions. All motorcycles sold from 2040 will be electric-powered, while all new cars sold from 2050 will be electric vehicles […]
‘Higher incentives on electric 2-wheelers to reduce price gap with conventional vehicles’
The enhanced demand incentives for electric two-wheelers under the FAME-II scheme by the government will significantly reduce the upfront price gap with the internal combustion engine (ICE)-based counterparts and thus drive up demand, according to ratings agency ICRA NSE 1.60 %. In the latest modifications to the Faster Adoption and Manufacturing of Electric Vehicles in […]
Goldi Solar mulls manufacturing capacity expansion to 2.5 GW
Domestic solar components manufacturer Goldi Solar on Monday said it will invest Rs 750 crore to expand capacity to 2,500 MW from 500 MW by the end of the current fiscal. The expansion will be completed in two phases – reaching 1,000 MW by Q2 of FY22 and the remaining over the following two quarters, […]
Amara Raja Batteries aims $2 bn investment over next decade in new energy and legacy biz
The old order changeth, but not entirely yielding place to the new. So, both new-age lithium-ion and legacy lead-acid cell businesses could get near-equal shares of financing at Amara Raja Batteries NSE 1.35 %, which is aiming to put about $2 billion over the next decade into the two energy technologies. The company is looking […]
Amara Raja to bet big on new-age batteries
The old order changeth, but not entirely yielding place to the new. So, both new-age lithium-ion and legacy lead-acid cell businesses could get near-equal shares of financing at Amara Raja Batteries NSE 1.38 %, which is aiming to put about $2 billion over the next decade into the two energy technologies. The company is looking […]