In order to reach net zero emissions by 2040, Oil India Ltd. (OIL) chairman and managing director Ranjit Rath announced on Thursday that the state-owned corporation wants to invest Rs.25,000 crore in renewable energy. The corporation has made the decision to invest in projects to end flaring as well as green hydrogen, solar, geothermal energy,…
Over the next five years, small scale manufacturers are predicted to invest Rs.10,000 crore in the stainless steel park that Jindal Stainless (JSL) is developing in Odisha. In addition, the industrial park, which is anticipated to be operational in the following two years, would also provide up to 20,000 jobs. The nation’s first stainless steel…
KEC International Ltd., a leading global infrastructure EPC company, said on Wednesday that its Transmission & Distribution (T&D) division has received a prestigious turnkey order for Rs.1,145 crore. Design, delivery, and construction of a 380 kV overhead transmission line in the Kingdom of Saudi Arabia (KSA) are all included in the deal. The corporation has…
Prior to future festivities like Vijaya Dashami and Deepawali, the Nepali government plans to import 20,000 metric tonnes (MT) of sugar from India to accommodate domestic demand. The Finance Ministry has approved the import of only 20,000 MT of sugar at this time, despite the Ministry of Industry, Commerce, and Supplies’ request for a 60,000…
In early trade on Wednesday, the rupee traded in a narrow range against the US dollar as high crude oil prices and a strong greenback offset the support from favorable macroeconomic data. Foreign exchange dealers claimed that domestic industrial production and retail inflation data were better than expected and backed up investor confidence. Investors are…
According to data issued on Tuesday by the Ministry of Statistics and Programme Implementation, retail inflation in India decreased by 61 basis points from the 15-month high of 7.44 percent in July to 6.83 percent in the month of August. Vegetable prices were mostly in charge of this, with some moderation in the cost of…
In order to establish an integrated food manufacturing and logistics facility as well as a manufacturing facility for sustainable packaging products in Sehore, Madhya Pradesh, the diversified group ITC announced on Sunday that it will invest roughly Rs 1,500 crore. The two projects, which span about 57 acres, would help Madhya Pradesh’s manufacturing and agricultural…
Despite worries about the Chinese economy and a rise in the dollar’s value relative to its major rivals, the rupee has recently been stable in a range of 82.30 and 83.20. The RBI kept rates constant and kept its stance of withdrawing accommodating policy intact, as was expected. The RBI actively intervened to combat rupee’s…
In contrast to the increase in the tax on diesel and ATF exports, the government has reduced the windfall profit tax on domestically produced crude oil. The special additional excise duty, or SAED, paid on domestically produced crude oil was decreased from Rs 7,100 per tonne to Rs 6,700 per tonne. According to the announcement,…
In the week ending September 1, the market ended a five-week losing trend with solid gains. The benchmarks were under pressure due to conflicting global cues, weak monsoons in August, and rising crude oil prices; nevertheless, positive investor sentiment was buoyed on Friday by solid GDP and Manufacturing figures. The Nifty50 began the month of…
