BUSINESS
Centre gives PLI boost to drone manufacturing
Accordingly, the total amount allocated for the PLI scheme for drones and drone components is Rs 120 crore spread over three financial years. This amount, according to an official communique, is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21. The proposed tenure of the PLI scheme is three years, starting FY22.
91 Board positions lying vacant in 11 PSU banks: AIBEA
Ninety one out of 175 Board positions are vacant in the 11 nationalised banks, said C.H.Venkatachalam, General Secretary. Venkatachalam in a letter to Finance Minister Nirmala Sitharaman also said from 2014 when the National Democratic Alliance (NDA) came to power, the posts of Workman Director and Officer Director representing the employees and officers of the Banks remain vacant.
Likely govt support measures, PLI schemes buoy equities
Gains were capped due to negative Asian cues. Initially, both key indices -- S&P BSE Sensex and NSE Nifty50 -- had a gap-up opening. Among sectors, Power, IT, Oil & Gas, Consumer Durables, Utilities and Telecom were the main gainers. At 2.30 p.m., S&P BSE Sensex traded at 58,739.91 points, higher by 492.82 points or 0.85 per cent from its previous close.
Telcos to get relief in AGR payment
According to people in the know, the Cabinet has approved the moratorium of four years for AGR dues. The details are expected to be spelt out by Union Telecom Minister Ashwini Vaishnaw later in the afternoon. The move will be most beneficial for the stress-ridden Vodafone Idea. Shares of Vodafone Idea surged over 2 per cent on hopes of the relief package, while those of Bharti Airtel soared over 5 per cent.
Reconfigure agricultural producer support: UN report
The report, 'A multi-billion dollar opportunity: Repurposing agricultural support to transform food systems', launched late on Tuesday night by the Food and Agriculture Organisation (FAO), the UN Development Programme (UNDP) and the UN Environment Programme (UNEP) has found that the current support to producers mostly consists of price incentives.
Sodium-ion battery: Here's next best EV battery that is cheaper and easily available
Lithium-ion batteries are being used by companies all around the world but their production is very costly. Carmakers now are finding it difficult to cut down their costs and make their electric vehicles cheaper. This is becoming a monumental problem for both consumers as well as producers as innovation is coming in and making electric vehicles even more expensive.
Delhi to get 300 e-buses in January 2022: DTC official
In August 2020, Delhi Transport Minister Kailash Gahlot had said the national capital will receive as many as 2,000 electric buses by the end of 2021. However, a few months ago lack of infrastructure was cited as the reason behind the delay in the rollout of the first batch of this most commonly used mode of public transportation.
Tata Lockheed Martin delivers 150th C-130J Super Hercules empennage
TLMAL, a joint venture between Tata Advanced Systems Limited (TASL) and Lockheed Martin Aeronautics, was established in 2010 in alignment with the Indian Air Force's acquisition of its first six C-130J 30 Super Hercules airlifters. The event to mark 150th delivery was held at TLMAL facility at Adibatla in Hyderabad and was attended by Telangana's minister for industries and information technology K. T. Rama Rao and senior officials from the state government and TLMAL.
OYO increases its ESOP pool by 41%
The company has added 20 crore shares of the face value of Re 1 to the existing ESOP pool taking it to a total of 63 crore shares, according to a filing with the Registrar of Companies (RoC). Market participants are expecting OYO to be valued between $14-16 billion at the time of its IPO which will value its increased ESOP pool at over $1 billion.
Adidas launches first flagship store in India - The Home of Possibilities
Spread in 5,900 sq ft of retail area across 4 floors, the store's concept is brought to life inspired from the brand's 'OWN THE GAME' strategy that focuses on 3 important aspects which are Experience, Sustainability, and Credibility. The adidas Flagship store in CP offers consumers an innovative technological experience. The store features 32 digital touch points which are powered by green energy, the store encapsulates the use of advanced technology which includes immersive screens, digital plinths and ceiling screens to give customers a superior digital shopping experience.
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