At 76.26 million tonnes (MT) in May, domestic coal production increased year over year by 7.10%. India produced 71.21 MT of coal in the same month in 2022, according to a statement from the coal ministry. “Ministry of Coal has accomplished a remarkable feat with a significant surge in overall coal production during May 23,…
The Aditya Birla Group plans to invest Rs 1,250 crore in its financial services division, Aditya Birla Capital Ltd. According to a statement on Thursday, the board of Aditya Birla Capital Ltd. (ABCL), which engages in lending, asset management, and insurance, approved a preferential issue of Rs. 1,250 crores to its promoter and promoter group…
In response to encouraging macroeconomic statistics, the rupee rose by 33 paise to settle at 82.42 (provisional) against the US dollar on Thursday. Against the US dollar, the local unit traded in the interbank foreign exchange market with an opening price of 82.54 and ended the day at 82.42 (provisional), up 33 paise from the…
The National Electricity Plan (NEP) for 2022–2032, with a proposed investment of Rs. 33,60,594 crore, was announced by the Central Electricity Authority (CEA) on Wednesday. The plan aims to increase the share of non-fossil fuel capacity to about 70%. “The share of non-fossil based capacity is expected to increase from around 42.5% at present to…
India’s economic growth most likely matched government predictions because demand sparked an expansion in the services sector and mitigated the effects of high borrowing rates. According to the consensus estimate in a Bloomberg survey, which is in line with a government forecast given three months ago, data due on Wednesday is anticipated to reveal that…
Oil prices increased on Tuesday amid expectations that the world’s largest oil consumer, the United States, will increase demand as a result of the debt ceiling agreement. Gains were restrained, however, by worries about future interest rate increases and the potential for OPEC+ to maintain current output quotas. Today morning, Brent crude futures had increased…
Arun Kumar Singh, the chairman of Oil and Natural Gas Corporation (ONGC), stated on Monday that the business expects to invest approximately Rs 1 trillion in renewable energy by 2030 in order to reach net zero by 2038. At a news conference after the financial results on Friday, Singh stated, “We have been working on…
In order to finance the expansion of its international business, SBI, the largest public sector lender in the nation, raised USD 750 million on Monday under its USD 10 billion Global Medium Note program. Global investors contributed the funds at Gandhinagar’s GIFT International Financial Services Centre (), which is part of INX’s Global Securities Market…
Due to a strong dollar and gloomy global market attitude, the rupee was trapped between 82.90 and 82.60 levels the previous week. The dollar strengthened as tensions over the debt ceiling negotiations increased and Fitch placed the nation’s credit rating under review for potential downgrading. Better-than-expected economic statistics from the US boosted the speculations that…
In the next five years, Berger Paints India, the second-largest paints company in the nation, expects revenues to double to approximately ‘20,000 crores, driven by a general increase in its paints business. Additionally, the corporation has budgeted an investment of around 400 crore for FY24. The ornamental industry would experience growth because there is so…
