BUSINESS
Essar Oil & Gas Exploration & Production achieves highest ever revenue and EBIDTA
The company has reported its highest ever quarterly revenue of Rs 219 crore in Q3 FY23, with 54 per cent YoY growth. In the quarter ending December 31, 2022, EOGEPL's EBIDTA grew by ~100 per cent on YoY basis to RS 171 crore, and its PAT (profit after tax) increased by 273 per cent as compared to the same period last year to Rs 97 crore.
Sebi 'fully equipped', could set up a panel of experts, Centre to SC on Adani issue
Solicitor General Tushar Mehta, representing the Centre, submitted before a bench headed by Chief Justice of India D.Y. Chandrachud that: "Our instructions are that existing structure - Sebi and other agencies - are fully equipped not only regime wise but otherwise also, in taking care of the situation.
Homegrown EV mobility solutions provider Magenta Mobility raises $40 mn
Backed by Microsoft's global startup programme, the company closed $20 million in equity funding led by two global marquee investors, reports DealStreetAsia. The company raised $20 million in debt in the same round. Magenta is aiming to expand its geographical presence in cities including Hyderabad, Chennai, Delhi and Chandigarh. The company has a fleet of 600 3-wheelers.
Inflation-linked road toll rate hike to be modest in FY24: ICRA
ICRA has revised the outlook on the toll road sector to stable from positive for FY24. "In the backdrop of easing WPI inflation to 4.95 per cent in December 2022 and an expected WPI inflation of sub-2 per cent in March 2023, the inflation-linked toll hike should be relatively modest at 2-5 per cent in FY2024 compared to the 8.7-14.6 per cent toll rate hike in FY2023," ICRA said.
Under NMP, 25 AAI airports earmarked for leasing till 2025
The leasing of the airports began in 2022. These airports include Trichy, Coimbatore, Madurai & Chennai in Tamil Nadu; Bhubaneswar in Odisha; Varanasi in Uttar Pradesh; Amritsar in Punjab; Indore & Bhopal in Madhya Pradesh; Raipur in Chhattisgarh; Calicut in Kerala; Nagpur in Maharashtra; Patna in Bihar; Surat & Vadodara in Gujarat; Ranchi in Jharkhand; Jodhpur & Udaipur in Rajasthan; Vijayawada, Tirupati & Rajahmundry in Andhra Pradesh; Hubli in Karnataka; Imphal in Manipur; Agartala in Tripura and Dehradun in Uttarakhand.
India's seafood exports likely to reach all-time high of US $ 8 bn
During 2021-22, India exported 13,69,264 tonnes of marine products worth US$ 7.76 billion (Rs 575.86 billion), registering an all-time high export by value, while shrimp production crossed one million MT. Frozen shrimp remained the major export item in quantity and value, accounting for a share of 53 per cent in quantity and 75 per cent of the total revenue.
Rents on Roll: NCR's Golf Course Extension sees highest growth of 18% since 2019
As per latest ANAROCK data, the average monthly rentals in the prominent luxury micro-markets of the top 7 cities increased by anywhere between 7-18 per cent in 2022 over 2019. NCR's Golf Course Extension saw the highest growth of 18 per cent - from Rs 49,000 a month in 2019 to Rs 58,000 in 2022 for luxury homes of approximately 2,000 sq. ft. area. This was followed by Hyderabad's Jubilee Hills.
AISATS to develop India's largest multi-modal cargo hub at Noida Airport
The MMCH will be equipped with multiple connectivity options, and an integrated process driven system to cater to the burgeoning logistic demand of the country. AISATS received the 'Letter of Award' (LOA) at the UP Global Investors Summit. The MMCH will be a first of its kind in India, comprising Integrated Cargo Terminal (ICT) and Integrated Warehousing & Logistics Zone (IWLZ).
71% Indian professionals confident to retain jobs in 2023 despite global layoffs
There is a stark difference in the confidence levels of freshers and entry-level professionals and the ones with more than six years of experience. While 63 per cent of professionals with 0-3 years of experience are confident about retaining their job, this number jumps up to 83 per cent for professionals with more that six years of experience, according to the report by edtech company.
Renault Nissan to invest $600 mn in India, to roll out 6 new models
The Renault Nissan alliance signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for the new investment. Announcing the new investment Ashwani Gupta, Director and Chief Operating Officer, Nissan Motor Company said the alliance will invest $600 million or Rs 5,300 crore in the new projects. He said the new investments will create 2,000 jobs at Renault Nissan.
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