BUSINESS
Maha: JSW to invest Rs 35,500 cr in green energy projects
This would comprise a 1,500 MW hydro-based power project in Nashik and a 5,000 MW wind power project spread across 1,870 hectares in Kolhapur, Solapur, Satara and Osmanabad, to be set up within 18 months. "The two new projects will supply cheap and green renewable power round the clock, and help Maharashtra reduce its dependence on non-renewable sources of energy," said Desai.
India's August exports rise by over 45%
Exports during August 2020 stood at $22.83 billion. The data by the Ministry of Commerce and Industry showed that in comparison to August 2019, last month's exports rose by 28.03 per cent. "'Non-petroleum' and 'Non-Gems and Jewellery' exports in August 2021 were $25.19 billion, as compared to $19.10 billion in August 2020, registering a positive growth of 31.87 per cent," it said.
OYO applies for conversion into public limited company
Regulatory filing with the Registrar of Companies showed that shareholders of Oravel Stays Pvt Ltd have approved the conversion of the company into a public limited company. Post the approval from the Ministry of Corporate Affairs, the name of the company would be changed to Oravel Stays Ltd.
Easing inflation lifts equities, metal stocks shine
Initially, both key indices -- S&P BSE Sensex and NSE Nifty50 -- had a gap-up opening. The Nifty opened gap up and marked a new all-time high of 17,438 levels. Globally, Asian markets were mixed on Tuesday with investors waiting for US inflation data. All the sectorial indices were in the green with media, metals, banks and realty indices gaining the most.
Tata Steel commissions India's first plant for CO2 capture from blast furnace gas
Carbon capture and utilisation (CCU) facility uses amine-based technology and makes the captured carbon available for onsite reuse. The depleted CO2 gas is sent back to the gas network with increased calorific value. This project has been executed with technological support from Carbon Clean, a global leader in low-cost CO2 capture technology.
Pandemic fails to dent investors interest in India: Survey
The survey -- India's FDI Opportunity -- conducted during the peak of the second wave of the Covid-19 pandemic in India this year, found that a large proportion of international business leaders remain confident in India's short- and long-term prospects and are readying plans to make additional and first-time investments in the country.
India's Aug wholesale price inflation rises to 11.39%
Accordingly, the annual rate of inflation, based on wholesale prices, rose to 11.39 per cent last month from 11.16 per cent in July. Similarly, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over August 2020, when it stood at 0.41 per cent.
India, Singapore to link their Fast Payment Systems, UPI and PayNow
This will allow users of each of the two fast payment systems to make instant, low-cost fund transfers on a reciprocal basis without a need to get onboarded onto the other payment system. The linkage is targeted for operationalisation by July 2022. The UPI-PayNow linkage is a milestone in the development of infrastructure for cross-border payments between India and Singapore.
11 states meet Q1 capex target, get to mobilise Rs 15,721 Cr
The 11 states include Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Kerala, Madhya Pradesh, Manipur, Meghalaya, Nagaland, Rajasthan and Uttarakhand. The additional open market borrowing permission granted to states under the programme is equivalent to 0.25 per cent of their Gross State Domestic Product (GSDP).
Gross NPAs of banks to cross Rs 10 lakh Cr by March 2022: ASSOCHAM-Crisil
"NPAs are expected to rise to 8.5-9 per cent by March 2022, driven by slippages in retail, micro, small and medium enterprise (MSME) accounts, besides some restructured assets," according to the study titled, 'Reinforcing the code,' conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) jointly with credit rating agency Crisil.
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