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 why RBI fined PayTm, also find out why Yes Bank is set to move NCLT against Dish TV Business Term of the Day: Exchange Traded Fund Read more
In this episode, find out about why RBI fined PayTm, also find out why Yes Bank is set to move NCLT against Dish TV Business Term of the Day: Exchange Traded Fund Read more
In this episode, find out about why Ola Cabs is looking to restructure its business, also find out why LIC favours Zee-Sony merger deal Business Term of the Day: Venture Capital Read more
In this episode, find out about why Ola Cabs is looking to restructure its business, also find out why LIC favours Zee-Sony merger deal Business Term of the Day: Venture Capital Read more
In this episode, find out about why Invesco has written an open letter to Zee shareholders, also find out why the government is looking at tax hike on some goods, services. Busin ... Read more
In this episode, find out about why Invesco has written an open letter to Zee shareholders, also find out why the government is looking at tax hike on some goods, services. Business Term of the Day: Turnover Read more
In this episode, find out about why SEBI has put on hold Aadhar Housing Finance’s IPO, also find out why Yes bank plans to approach NCLT post Dish TV board meet Business Term of t ... Read more
In this episode, find out about why SEBI has put on hold Aadhar Housing Finance’s IPO, also find out why Yes bank plans to approach NCLT post Dish TV board meet Business Term of the Day: enterprise value Read more
In this episode, find out about why National Company Law Appellate Tribunal has granted relief to Zee, also find out why Piramal is looking to segregate its pharma business. Busin ... Read more
In this episode, find out about why National Company Law Appellate Tribunal has granted relief to Zee, also find out why Piramal is looking to segregate its pharma business. Business Term of the Day: Demerger Read more
In this episode, find out about why Srei Group promoters have contested RBI’s move in Bombay HC, also find out why Swiggy has unveiled $40 m ESOP buyback program Business Term of ... Read more
In this episode, find out about why Srei Group promoters have contested RBI’s move in Bombay HC, also find out why Swiggy has unveiled $40 m ESOP buyback program Business Term of the Day: Foreign direct investment Read more
In this episode, find out about why Essel Group chairman Subhash Chandra is questioning Invesco’s motive behind seeking change in Zee board, also find out why big tech firms are co ... Read more
In this episode, find out about why Essel Group chairman Subhash Chandra is questioning Invesco’s motive behind seeking change in Zee board, also find out why big tech firms are coming together to form an alliance Business Term of the Day: sovereign rating Read more
In this episode, find out about why France’s AXA group plans to sell entire shareholding in ICICI Lombarad, also find out why SBI is looking to raise another round of AT1 bonds Bu ... Read more
In this episode, find out about why France’s AXA group plans to sell entire shareholding in ICICI Lombarad, also find out why SBI is looking to raise another round of AT1 bonds Business Term of the Day: Additional Tier 1 bonds Read more
In this episode, find out about why IT depth has imposed a capital gains tax on Grasim Industries, also find out why Indian markets are set to open in trade today Business Term of ... Read more
In this episode, find out about why IT depth has imposed a capital gains tax on Grasim Industries, also find out why Indian markets are set to open in trade today Business Term of the Day: capital gains tax Read more
In this episode, find out about why RIL is defending the appointment of Saudi Aramco chairman on its board, also find out why Inveco has taken Zee to court Business Term of the Da ... Read more
In this episode, find out about why RIL is defending the appointment of Saudi Aramco chairman on its board, also find out why Inveco has taken Zee to court Business Term of the Day: unicorn Read more