BUSINESS
Firm outlook for lignite lifts GMDC shares 50% in 5 sessions
Shares of the Gujarat Mineral Development Corporation jumped nearly 50 per cent during the week to Friday on firm outlook for its lignite business. On Friday, its shares settled at Rs 111.75, up 49 per cent since the starting of the week. Over the past one-year period, it rose 90 per cent.
PLI scheme: 10 companies bid for ACC battery storage programme
According to the Ministry of Heavy Industries, the 10 companies include Reliance New Energy Solar, Hyundai Global Motors Company, Ola Electric Mobility, Lucas-TVS and Mahindra & Mahindra, among others. The Request for Proposal (RFP) was released by the ministry in October 2021. It opened the technical bids on Saturday.
IOC to invest Rs 7,000 cr in city gas distribution projects
The investment will be done in those cities for which it has secured a licence, and 33 per cent of the demand potential, in the recently-concluded 11th round of CGD bidding by the Petroleum and Natural Gas Regulatory Board. Those geographical areas include major districts like Jammu, Pathankot, Sikar, Jalgaon, Guntur (Amravati), Tuticorin, Tirunelveli, Kanyakumari, Madurai, Dharmapuri and Haldia (East Mednipore).
'Emerging markets appear vulnerable to a souring of the world economy'
That, in turn, will likely cause many countries to come knocking at the IMF's doors for large bailout loans as they are spurned by the international capital market, Desmond Lachman, senior fellow at the American Enterprise Institute said in the opinion piece. He was formerly a deputy director in the International Monetary Fund's Policy Development and Review Department and the chief emerging market economic strategist at Salomon Smith Barney.
CAIT urges Centre to exempt GST registration for e-commerce sales
"Under the GST Act, a seller who wishes to sell products in e-commerce is invariably required to obtain a GST number. Any seller who does not have a GST number is not allowed to sell products on any e-commerce portal. This provision of the Act is barring lakhs of traders across the country from using e-commerce to sell their products," a joint statement by the traders' body's national President B.C. Bhartia and Secretary General Praveen Khandelwal said.
Sitharaman holds pre-budget consultations with BJP leaders
The meeting was conducted from the BJP's national headquarters here by Vice President Baijayant Panda, General Secretary Arun Singh and Spokesperson Gopal Krishna Agarwal. Representatives of 25 states including Mizoram, Tripura, Jharkhand, Chhattisgarh, Ladakh, Tamil Nadu, Kerala, Karnataka, Telangana, Maharashtra, Gujarat, Madhya Pradesh, Rajasthan and Odisha attended the meeting and put forward their views for the development of their respective regions.
ICRA suggests long-term finance at low rates for power, renewables in Budget
The Union Budget for FY23 will be tabled in the Parliament on February 1. The rating agency said that incentives and relevant policy measures are needed to promote investments in the energy storage segment, considering the increasing share of renewables in the electricity generation mix. "This apart, policy measures are required to revive the stranded gas-based projects, which would enable availability of balancing power sources," it said.
Auto ancillary stocks in radar on hopes of fresh demand from OEMs
With supply of chips required in manufacturing of automobiles improving, auto components are likely to see a rebound in demand from original equipment manufacturers across the globe.
PM Modi's initiative will boost investors' confidence in us: Indian startups
In a virtual meeting with over 160 leading startups on Saturday, Modi said that like small businesses, which are the spine of India's economy, startups are turning out to be the game changers.
National Startup Awards for 46 startups
A total of 2,177 applications were received from Startups across the 49 sub-sectors along with applications from 53 incubators and 6 accelerators for the ecosystem enablers categories.
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