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 Rs 500 crore IPO of Electronics Mart India, also find out about TCS’ $ 2 bn deal from BSNL Business Term of the Day: Contract manufacturing. Read more
In this episode, find out about Rs 500 crore IPO of Electronics Mart India, also find out about TCS’ $ 2 bn deal from BSNL Business Term of the Day: Contract manufacturing. Read more
In this episode, find out about Zee to shut channel to allay CCI concerns over the Sony deal, and also find out about CCI clears Bank of Baroda’s additional stake buy in IndiaFirst ... Read more
In this episode, find out about Zee to shut channel to allay CCI concerns over the Sony deal, and also find out about CCI clears Bank of Baroda’s additional stake buy in IndiaFirst Life Insurance Business Term of the Day: Inflation targeting Read more
In this episode, find out about Hero MotoCorp’s plan to invest $60 m in Zero Motorcyles, also find out about IOC’s plans to float a new subsidiary to do financing activities in Gif ... Read more
In this episode, find out about Hero MotoCorp’s plan to invest $60 m in Zero Motorcyles, also find out about IOC’s plans to float a new subsidiary to do financing activities in Gift City Business Term of the Day: Government borrowing Read more
In this episode, find out about the government’s 2 stage plan to privatize IDBI Bank and also find out about Airtel Payment bank’s plans to set up 1.5 lk micro ATMs Business Term ... Read more
In this episode, find out about the government’s 2 stage plan to privatize IDBI Bank and also find out about Airtel Payment bank’s plans to set up 1.5 lk micro ATMs Business Term of the Day: Gig economy Read more
In this episode, find out about BHEL getting an order from NTPC and how much film exhibition company PVR Cinemas will invest to open 100 new screens in FY23. Read more
In this episode, find out about BHEL getting an order from NTPC and how much film exhibition company PVR Cinemas will invest to open 100 new screens in FY23. Read more
In this episode, find out about the Shares of Tata Steel had a rise of 1.21% (Rs. 104.9) at 12:33 hours at BSE. So far today 52.6 Lac shares of the company were traded at the BSE. ... Read more
In this episode, find out about the Shares of Tata Steel had a rise of 1.21% (Rs. 104.9) at 12:33 hours at BSE. So far today 52.6 Lac shares of the company were traded at the BSE. Business term of the day: PLI Scheme Read more
In this episode, find out about CCI’s approval for the merger of Jio Cinema OTT with Viacom 18 Media, and also find out why the Future unit has canceled plans to sell assets Busin ... Read more
In this episode, find out about CCI’s approval for the merger of Jio Cinema OTT with Viacom 18 Media, and also find out why the Future unit has canceled plans to sell assets Business Term of the Day: First Loan Default Guarantee (FLDG) Read more
In this episode, find out about NCLT’s approval for the merger of Exide Life with HDFC Life, and also find out about the government’s plan to grant DFI status to REC to boost clima ... Read more
In this episode, find out about NCLT’s approval for the merger of Exide Life with HDFC Life, and also find out about the government’s plan to grant DFI status to REC to boost climate funding Business Term of the Day: Development Finance Institution Read more
In this episode, find out about Reliance Retail’s plan to double its borrowing limit to ₹1 lakh crore, and also find out about Fairfax’s move to sell a majority stake in Fairchem O ... Read more
In this episode, find out about Reliance Retail’s plan to double its borrowing limit to ₹1 lakh crore, and also find out about Fairfax’s move to sell a majority stake in Fairchem Organics Business Term of the Day: Mark to Market. Read more
In this episode, find out about the muted listing of Tamilnad Mercantile Bank on the bourses and about Byju’s Rs 4500 crore loss in FY21. Business Term of the Day: Benchmark Prime ... Read more
In this episode, find out about the muted listing of Tamilnad Mercantile Bank on the bourses and about Byju’s Rs 4500 crore loss in FY21. Business Term of the Day: Benchmark Prime Lending Rate Read more
