NTPC Ltd: The state-run company is moving at breakneck speed to increase coal supplies to fuel its thermal plants and ensure the units operate at more than 75% of capacity to avert another power crisis in India. The electricity giant not only aims to import 20 million tonnes of coal, at an eight-year high, over the next few months but is also targeting 85% growth in its captive coal production this year to 26 milli
Coal India: The state-run company will open this year what is expected to become one of the country’s biggest coal mines, as India struggles to keep pace with surging power demand, Reuters reported. Output from the new Siarmal mine in eastern Odisha state would rise gradually, reaching capacity of 50 million tonnes in about five to seven years.
FMCG companies: The government on Tuesday exempted customs duty and agriculture infrastructure development cess on 2 million tonnes yearly import of crude soybean and sunflower oil. The relief on edible oil comes into force on Wednesday and will be effective until March 2024.
Sugar stocks: The government imposed restrictions on sugar exports from June 1, a move aimed at increasing availability of the commodity in the domestic market and curbing price rise. “) said.
Eveready Industries: Entities controlled by the Burman family of Dabur have received the approval from the Sebi to launch an open offer for dry cell battery maker Eveready Industries India Ltd. The open offer for an additional 26% stake in Eveready will open on June 3 and close on June 16 at ₹320 a share.
Indian Hotels Company: The Tata group hospitality firm on Tuesday said its board has approved the re-appointment of Puneet Chhatwal as managing director and CEO for another term of five years. Chhatwal’s reappointment is for another term commencing from November 6, 2022 up to November 5, 2027 subject to shareholders’ approval.
Moving on to markets
Indian benchmark indices are likely to open with marginal gains on Wednesday as volatility persists globally. Shares slid worldwide on Tuesday as supply chain woes and surging costs hurt corporate earnings and manufacturing output slowed
Sensex and Nifty are likely to open with minor gains tracking SGX Nifty. Asia stocks opened mostly in positive territory on Wednesday even as global growth concerns and weak U.S. economic data weighed on Wall Street overnight.
Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the U.S. summer driving season. Brent crude futures for July rose 46 cents, or 0.4%, to $114.02 a barrel
Business term of the day
Accommodative monetary policy – Accommodative monetary policy is when central banks expand the money supply to boost the economy. Monetary policies that are considered accommodative include lowering the repo rate. These measures are meant to make money less expensive to borrow and encourage more spending.
In this episode, find out about Aditay Birla Capital’s plans to raise Rs 1250 crore through preferential issue of shares, also find out Dish TV board’s decision to reject minority ... Read more
In this episode, find out about Aditay Birla Capital’s plans to raise Rs 1250 crore through preferential issue of shares, also find out Dish TV board’s decision to reject minority shareholders’ plea to reconstitute the board Business Term of the Day: Annuity Read more
In this episode, find out about the new CEO of TCS taking charge, also find out Adani group’s plans to raise $3.5 bn through share sale to institutional investors Business Term o ... Read more
In this episode, find out about the new CEO of TCS taking charge, also find out Adani group’s plans to raise $3.5 bn through share sale to institutional investors Business Term of the Day: Covenant Read more
In this episode, find out about slowdown in unemployment rate in urban areas, also find out about HCL Tech suing Atos. Business Term of the Day: Vande Bharat Express Read more
In this episode, find out about slowdown in unemployment rate in urban areas, also find out about HCL Tech suing Atos. Business Term of the Day: Vande Bharat Express Read more
In this episode, find out about Reliance Consumer Products’ entry into snacking business and Maruti Suzuki India expects production loss to continue in the first quarter.. Busines ... Read more
In this episode, find out about Reliance Consumer Products’ entry into snacking business and Maruti Suzuki India expects production loss to continue in the first quarter.. Business Term of the Day: Subsidy Read more
In this episode, find out about Oil India’s talks to acquire a stake in Tullow Oil’s Kenya block, also find out about Vikram Bakshi’s new investment Business Term of the Day: Dry ... Read more
In this episode, find out about Oil India’s talks to acquire a stake in Tullow Oil’s Kenya block, also find out about Vikram Bakshi’s new investment Business Term of the Day: Dry powder Read more
In this episode, find out about who are the finalists for Capital Foods, also find out why CEA Anantha Nageswaran is confident of 6.5% growth Business Term of the Day: Surety bon ... Read more
In this episode, find out about who are the finalists for Capital Foods, also find out why CEA Anantha Nageswaran is confident of 6.5% growth Business Term of the Day: Surety bond. Read more
In this episode, find out about Private equity players eye Glenmark Life Sciences, also find out HUL-Genpact deal to help scale small businesses Business Term of the Day: Debt ce ... Read more
In this episode, find out about Private equity players eye Glenmark Life Sciences, also find out HUL-Genpact deal to help scale small businesses Business Term of the Day: Debt ceiling Read more
In this episode, find out about NCLT’s rejection of IDBI bank’s insolvency plea against Zee, also find out DOT’s worry over Vi’s fund delay Business Term of the Day: Demonetisati ... Read more
In this episode, find out about NCLT’s rejection of IDBI bank’s insolvency plea against Zee, also find out DOT’s worry over Vi’s fund delay Business Term of the Day: Demonetisation Read more
State Bank of India (SBI) reports record standalone profit in Q4 FY23, driven by strong net interest income (NII) and lower provisions, surpassing the previous best. Business Term ... Read more
State Bank of India (SBI) reports record standalone profit in Q4 FY23, driven by strong net interest income (NII) and lower provisions, surpassing the previous best. Business Term of the Day - Tax collected at source. Read more
In this episode, find out about Goldman Sachs slashing Adani Group stake in ESG funds, also find out Manyavar promoters’ OFS launch Business Term of the Day: Liberalised Remittan ... Read more
In this episode, find out about Goldman Sachs slashing Adani Group stake in ESG funds, also find out Manyavar promoters’ OFS launch Business Term of the Day: Liberalised Remittance Scheme Read more
