To guarantee higher quality for these products and to support homegrown production, the Ministry of New and Renewable Energy intends to release a policy akin to the Approved List of Models and Manufacturers (ALMM) for solar modules for solar cells. The manufacturers and models listed in ALMM are those solar project developers who can get…
As per the Department for Promotion of Industry and Internal Trade, the services, computer software, and non-conventional energy sectors accounted for the majority of the 48% year-over-year increase in Foreign Direct Investment (FDI) equity flows into India during the April-June quarter, which amounts to $16.1 billion. Trading, medicine, chemicals, cars, and telecom are among the…
The World Bank revised its growth prediction for India, increasing it from 6.6% to 7% for 2024–2025. The announcement was made in a study titled “India Development Update: India’s Trade Opportunities in a Changing Global Context,” which was made public on Tuesday. According to the research, India continued to be the major economy with the…
Data from S&P Global on Monday indicated that although India’s manufacturing activity decreased to 57.5 in August from 58.1 in July, it was still higher than its long-term average of 54.0, indicating a significant improvement in operating conditions. August saw weaker gains in new business and output from Indian manufacturers, albeit their rates of expansion…
Due to increasing valuations and increased volatility worldwide, foreign portfolio investors’ (FPIs’) inflows into equities suffered a noticeable slowdown in August, while domestic institutional investors’ (DIIs’) inflows reached their highest level in three months. In contrast to their July and June equity investments of Rs 23,486 crore and Rs 35,845 crore, respectively, DIIs made around…
After the tower business’s August 14 buyback, which Bharti Airtel led, concludes, the telecom infrastructure company will have only one shareholder Indus Towers. Previously holding 48.95% of the business, Airtel will now own over 50% of Indus Towers, forming the telecom behemoth’s subsidiary. On August 14, Indus Towers started repurchasing Rs 465 per share, for…
The SME IPO market was introduced back in 2012, thus it has been around for well over ten years. However, it has never made headlines as much as it has this year because several of the offers have achieved exceptionally high subscription numbers followed by significant listing gains. Public issues that entered the market in…
On Wednesday, KPI Green Energy declared that, on its own, it has effectively achieved zero net debt status. “We are pleased to inform you that as of August 28, 2024, the company has successfully attained zero net debt status on a standalone basis,” the company stated in a regulatory statement. This accomplishment demonstrates our commitment…
After ending at 83.91 on August 26 instead of 83.95 roughly a week earlier, the Indian rupee has somewhat appreciated over the previous trading days. Though importers’ dollar demand and foreign portfolio withdrawals from Indian equities (totaling USD 1.5 billion as of August 26) have restricted the rupee’s gains, the currency is seeing some support…
On Tuesday, Maharashtra State Electricity Distribution Company Limited (MSEDCL) sent a Letter of Award (LoA) for the establishment of a 200 MW Wind-Solar Hybrid Power Project to JSW Neo Energy Limited (JSW Neo), a wholly owned subsidiary of JSW Energy Limited, in response to a tariff-based competitive bid (MSEDCL – Phase III). The company reported…
