Delhi power tariff hike: Delhi Electricity Regulatory Commission (DERC) has approved the demand of BSES Yamuna and BSES Rajdhani following which the Power Purchase Adjustment Cost (PPAC) has been increased in the national capital. Apart from North Delhi where TDPL supplies electricity in the name of PPAC, the power tariff will become costlier for the rest of Delhi. The tariff has...
Business
Big relief for Go First as lenders approve Rs 400 crore interim funding
In a major relief for cash-strapped GoFirst, the airline’s lenders have approved an interim funding of around Rs 400 crore, Moneycontrol reported on Sunday. Last month, GoFirst filed for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT). The beleaguered airline cancelled its flights and was looking for funding to start its domestic operations. Now, the Committee of Creditors...
Ge inks deal with hal, to make fighter jet engines Iaf
General Electric said on Thursday it has signed a memorandum of understanding with India’s state-owned Hindustan Aeronautics Ltd to make fighter jet engines for the Indian Air Force. The development comes at a time when Indian Prime Minister Narendra Modi is on an official state visit to the United States. The memorandum of understanding includes the potential joint production of...
Market at record closing high! Sensex jumps 467 points, Nifty settles at 18,826; Kalyan Jewellers & Mazagon Dock jump up to 17%
The 30-share BSE Sensex pack jumped 467 points or 0.74 per cent to close at 63,385; while the broader NSE Nifty index moved 138 points or 0.74 per cent up to settle at 18,826. Mid and smallcap shares finished on a positive note, with the Nifty Midcap 100 up 0.68 per cent and Nifty Smallcap 100 rising 0.98 per cent....
India To Lose 6,500 Millionaires This Year.
India is expected to witness an exodus of millionaires and may lose 6,500 high-net-worth individuals (HNWIs) in 2023, according to the Henley Private Wealth Migration Report 2023, which tracks wealth and investment migration trends worldwide. China has been ranked first in terms of the outflow of millionaires from the country this year. It is predicted to lose 13,500 HNWIs, followed...
India, UAE target $100 billion non-oil trade by 2030
The goal to achieve $100 billion non-oil trade was set in the first meeting of the Joint Committee of India-UAE Comprehensive Economic Partnership Agreement (CEPA) India and the UAE on Monday set a target to increase the non-oil trade from USD 48 billion to USD 100 billion by 2030. The goal to achieve USD 100 billion non-oil trade was set...
RBI lowers India’s 2023-24 inflation forecast to 5.1 per cent | Here are details
he Reserve Bank of India (RBI) has lowered India’s inflation projection for 2023-24 to 5.1 per cent against its April estimate of 5.2 per cent.On a quarterly basis, retail inflation (or Consumer Price Index) in Q1 is seen at 4.6 per cent, Q2 at 5.2 per cent, Q3 at 5.4 per cent, and Q4 at 5.2 per cent, RBI Governor...
Adani’s debt metrics show improvement, says CreditSights analyst
The analyst who kicked off scrutiny of Adani Group’s finances nearly a year ago byterming the conglomerate “deeply overleveraged” has upgraded his view, saying some ofthe Indian billionaire’s firms now have better metrics. Adani Enterprises Ltd., Adani Power Ltd. and Adani Ports & Special EconomicZone Ltd. have moderate leverage, Lakshmanan R, senior research analystat CreditSights, told Bloomberg in an email....
India Will Become World’s Largest Automobile Market In Five Years: Gadkari
Union Minister Nitin Gadkari on Friday expressed confidence that India will become the largest automobile market in the world in the next five years under the leadership of Prime Minister Narendra Modi. The Union minister for road transport and highways was addressing a gathering in Vapi town of Gujarat’s Valsad district after inaugurating ‘Rajju Shroff ROFEL University’ campus. At present,...
IRDAI asks SBI Life to take over Sahara India’s life insurance business
The Insurance Regulatory and Development Authority of India has on Friday asked SBI Life Insurance Co to take over Sahara India Life Insurance Co’s (SILIC) business with immediate effect. “The decision has been taken as Sahara Life failed to comply with directions of IRDAI and take any affirmative steps to protect interests of policyholders,” the insurance regulator said in a...
Delhi outperforms Mumbai in number
of housing transactions in the last 4 years Delhi has trumped Mumbai when it comes to the total number of houses sold over the last four years, with the national capital witnessing sales of 1.34 lakh units in 2022 compared to 74,943 houses in Mumbai, an analysis has shown. In percentage terms, housing sales in Delhi were 78.8 percent higher...
Rising India Summit | Hydrogen buses
to ply on Indian roads soon: Nitin Gadkari Union Minister of Road Transport and Highways Nitin Gadkari on March 29 said hydrogen buses will soon be plying on the streets of India, adding that, if it was up to him he would use hydrogen to fuel aeroplanes as well. “We aspire to be an energy exporter and not an importer....