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Mining major NMDC has increased iron prices (per tonne) by ₹1,050 for lump ore and by ₹650 for the same quantity of fines. The price per tonne has been fixed at ₹4,950 for lump ore and ₹4,210 for fines with effect from July 18, the company said on Tuesday. The prices are inclusive of royalty, DMF,…
Adani Group Chairman Gautam Adani addresses during the Annual General Meeting (AGM) of his group companies, on Tuesday, July 18, 2023. | Photo Credit: PTI Gautam Adani on Tuesday said that the U.S.-based short seller Hindenburg Research’s report on the group was a deliberate, malicious attempt at damaging the group’s reputation and generate profit by…
Read More “Hindenburg report was an attempt to tarnish the group’s image: Gautam Adani” »
Photo used for illustration purpose only. | Photo Credit: K.R. Deepak With merchandise exports shrinking 15.1% in the first quarter of this year, after racking up a record $450 billion in 2022-23, the government is playing it safe on announcing a clear target for outbound shipments this year and is likely to opt for a…
Read More “As exports shrink amid global uncertainty, no clear target for 2023-24” »
By the end of December 2023, Mumbai would have an equal number of domestic departures as Delhi which currently has 78 daily domestic departures. File Notwithstanding the uncertainty over the brand name continuing after its merger with Air India by April 2024, Vistara, the joint venture of Tata Sons & Singapore Airlines (SIA), continues to scale…
Read More “Vistara to add more capacity from Mumbai ahead of merger with Air India” »
India’s start-up ecosystem could attract only $15 billion in the financial year 2023 after a strong funding winter brought investments down by 70% compared with the $50 billion it received in the previous year, according to a report released by Redseer Consulting on Tuesday. Increasing cost of capital and interest rates, recession in developed markets,…
India’s gems and jewellery exports are likely to decline by 10 to 15% in the current financial year on account of slowing demand in key markets like the U.S. and China, GJEPC Chairman Vipul Shah has said. The gems and jewellery exports grew 2.48% year-on-year to ₹3,00,462.52 crore (over $36 billion) in FY23, according to…
Read More “India’s gems, jewellery exports may fall 10-15% in FY24: GJEPC” »
An Air India passenger aircraft taxis on the tarmac while another one lands at Chhatrapati Shivaji International Airport in Mumbai, India, May 3, 2023. REUTERS/Francis Mascarenhas | Photo Credit: FRANCIS MASCARENHAS Crumbling seats, broken armrests, and dysfunctional seat-back entertainment screens on Air India’s aircraft often make the airline a subject of passenger ire but a…
Read More “40% Air India seats repaired since Tata take-over” »
Happiest Minds Technologies, an IT firm founded by Ashok Soota, has announced the successful completion of its capital raise of ₹500 crore ($61 million) through a qualified institutions placement (QIP) of equity shares. The fund-raising committee of the board of directors of the company approved the allotment of 54,11,255 equity shares of a face value of…
Read More “Ashok Soota’s Happiest Minds raises ₹500 cr. through QIP” »
The number of electric vehicles in India has surged from just 2,400 a decade ago to over 27.4 lakh as of July 2023. File. | Photo Credit: Ashoke Chakrabarty The number of electric vehicles in India has surged from just 2,400 a decade ago to over 27.4 lakh as of July 2023. However, given the…
Read More “Data | E-rickshaws to two-wheelers: The shift in the share of electric vehicles” »
Representational file image | Photo Credit: Bhagya Prakash K India’s petrol and diesel consumption fell in the first half of July as fury of monsoon flipped travel plans and reduced the demand in the agricultural sector, preliminary industry data showed. Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of…
Read More “Petrol, diesel sales fall as monsoon ebbs demand” »