Bajaj Auto is developing a portfolio of CNG motorcycles, and the first such bike will hit the market next fiscal under a new brand, Bajaj Auto Executive Director Rakesh Sharma said on Wednesday. The company wants the government to consider lowering GST on such CNG bikes — which will serve as a bridge to full […]
Month: February 2024
Core sector growth hits 14-month low of 3.8% in Dec due to high base
India’s core sector output growth hit a 14-month low of 3.8 per cent year-on-year in December on the back of a high base and a moderation in the growth of six constituent sectors, according to the Ministry of Commerce and Industry data released on Wednesday. This was sharply down from 7.9 per cent witnessed in […]
Reliance Industries most valuable Indian company: Hurun Global 500 2023
Reliance Industries continues to be the most valuable company in India, according to the 2023 Hurun Global 500, a list of the 500 most valuable non-state-controlled companies in the world, released on Wednesday. However, globally, no Indian company featured in the top 40 ranks. Reliance Industries stood on the 44th spot with a total valuation […]
Oil prices fell due to weak economic activity in leading importer China
Oil prices fell on Wednesday, pressured by lacklustre economic activity in leading crude importer China, but a first monthly gain since September remained in sight as flaring tensions in the Middle East heightened supply concerns. Brent crude futures for March, which expire today, fell 90 cents, or about 1.1%, to $81.97 a barrel by 1530 […]
North East LPG cylinder carriers of Indian Oil Corp go on indefinite strike
LPG cylinder transporters of Indian Oil Corporation on Wednesday went on an indefinite strike for the second time in less than two months, alleging pending dues and low rates in recently floated tenders. An IOC official, however, termed the strike as illegal. The decision to go for the shutdown was taken after a meeting called […]
Commercial LPG rates up by Rs 14 in Delhi, ahead of Budget 2024 session
Oil-marketing companies (OMCs) announced a hike in prices for 19-kg commercial LPG gas cylinders on February 1 with prices increasing by Rs 14 in Delhi, bringing it to Rs 1,769.50 per cylinder from the previous Rs 1,755.50. This comes hours ahead of the Budget 2024 session that is scheduled for 11 am on Thursday. Union […]
MRPL earns certification from IAQG for distribution of aviation fuel
The Mangalore Refinery and Petrochemicals Limited (MRPL) has been certified with AS9100:D standard prepared by International Aerospace Quality Group (IAQG) to assure customer satisfaction in aviation, space, and defence organisations under the scope of ‘production, storage, testing and distribution of aviation turbine fuel.’ MRPL is India’s first refinery to get this new aerospace standard. The […]
L&T sinks 7% as margins disappoint, weakness likely in order wins till June
Shares of Larsen & Toubro (L&T) plunged 7 per cent in Wednesday’s intra-day trade to Rs 3,387.40 on the BSE after the company reported lower-than-expected margins for the December quarter (Q3FY24) despite beating revenue estimates. The company’s management also indicated the pace of new orders in the domestic market had slowed and there would be […]
ADB mobilises Rs 1,250 cr through issuance of green bonds in local market
The Asian Development Bank on Wednesday said it has garnered Rs 1,250 crore (about USD 150 million) through its largest local currency green bond issue so far. The issue is structured as a 4-year currency linked bond, with a one-time repayment at maturity and carrying a fixed interest rate of 6.72 per cent per year, […]
Jindal Steel and Power Q3 results: PAT jumps four-fold to Rs 1,928 cr
Indian steelmaker Jindal Steel and Power reported an almost four-fold rise in third-quarter profit on Wednesday, as easing costs offset a fall in sales. The company, which has steel, mining and infrastructure businesses, said its consolidated net profit after tax increased to Rs 1928 crore ($232 million) in the three months to Dec. 31, from […]
Tata Power-DDL, ASCI partner for skill training in power, renewable energy
Tata Power Delhi Distribution Ltd (Tata Power-DDL) on Wednesday said it has signed an agreement with Administrative Staff College of India (ASCI) for skill training in the power and renewable energy sectors. The two parties have signed a Memorandum of Understanding (MoU) for co-creation, development and imparting courses for training and skill development to the […]
NTPC Green Energy gets Dipam nod to get listed for raising Rs 10,000 crore
State-owned power giant NTPC has received approval from the Department of Investment and Public Asset Management to list its green energy arm NTPC Green Energy Ltd (NGEL) to raise up to Rs 10,000 crore, according to a source. NGEL is expected to go public to raise up to Rs 10,000 crore anytime after March, the […]