BUSINESS
We have no policing authority over containers: Adani Group
As per the statement, on September 16, a joint operation by the DRI and Customs unearthed a large cache of contraband heroin from two containers from Afghanistan that had arrived at the Mundra International Container Terminal (MICT), Mundra Port. "We thank and congratulate the DRI & Customs teams for seizing the illegal drugs and apprehending the accused" Adani Group said.
India's agri, processed food exports rise over 21% YoY
According to the Directorate General of Commercial Intelligence and Statistics (DGCI&S) data, the overall export of the Agricultural and Processed Food Products Export Development Authority increased from $6,485 million in April-August 2020 to $7,902 million in April-August 2021.
Gautam Adani says on track to be the world's largest renewable generating company
"We have done this in just two years and our Renewables Portfolio has reached our initial target of 25GW a full four years ahead of schedule. This puts us well on track to be the world's largest renewable power generating company by 2030. This also opens up several new pathways for us including setting us up to be one of the largest green hydrogen producers in the world", Adani said.
Buying support pushes equities higher; oil stocks rise
Accordingly, both key indices -- S&P BSE Sensex and NSE Nifty50 -- rose a day after a sell-off which was triggered due to weak Asian cues. As per market observers, the up moves comes on the back of healthy buying support for Realty, Oil & gas, IT and FMCG stocks. Sector wise, Auto, Consumer Durables and Utilities indices traded lower.
Stainless-steel sector sees a massive 177% jump in imports
The subsidies have created an imbalance in the Indian and international markets, and reduced the competitiveness of Indian products in the domestic industry, causing material injury and persistent financial stress for home-grown businesses. It has also forced the domestic industry to seek redressal from the concerned authorities of the government for the revocation of suspension of CVD on China and imposition of fresh CVD on Indonesia.
Govt may offer pre-pack insolvency resolution plan even for large corporates
Official sources said that discussion on having a pre-packaged resolution framework for all categories of debtors is being discussed at the highest level and a decision may be taken once state owned bad bank -- National Asset Reconstruction Co. Ltd (NARCL) -- is operationalised. In April, Government operationalised pre-packaged insolvency resolution (PIRP) framework for MSMEs that is based on the 'debtor-in-possession' model which involves a resolution professional monitoring the entire process to ensure transparency.
India cautiously returning to 'business as usual': Study
Decreasing number of Covid-19 cases as well as an aggressive vaccination drive have brought in a new wave of confidence amongst Indian consumers. Latest findings reflect that the Indian consumer is ready to spend more on discretionary items, feels safe about returning to work place, wants to spend on travel and is less hesitant about in-person events and activities-all of which are positive trends for India's economic revival.
Zooming profits for general insurers in FY21
The 32-player industry's net profit last year zoomed to Rs 3,868.77 crore from a net loss of Rs 1,402.53 crore in 2019-20, as per the data released by General Insurance Council. Last year the industry not only grew its after tax profit but also logged an overall growth-premium, investment income, foreign direct investment (FDI), number of employees, agents while logging lower claims outgo.
Buying support pushes equities higher; oil stocks rise
Accordingly, both key indices -- S&P BSE Sensex and NSE Nifty50 -- rose a day after a sell-off which was triggered due to weak Asian cues. As per market observers, the up moves comes on the back of healthy buying support for Realty, Oil & gas, IT and FMCG stocks. Sector wise, Auto, Consumer Durables and Utilities indices traded lower. At around 10.45 a.m., S&P BSE Sensex traded at 58,568.67 points, higher by 77.74 points or 0.13 per cent from its previous close.
No change in fuel prices for 16th consecutive day
The oil marketing companies (OMCs) on Monday kept pump prices of auto fuels -- petrol and diesel unchanged, the 16th consecutive day of no revision, as they preferred to wait and watch the global oil situation before making any revision in prices. The wait and watch plan of OMCs has come to the relief of consumers as no revision has come during a period when crude prices were on the rise over shortfall in US production and demand pick up.
Don't Miss
Advertisement