In the company annual report, Cyrus P Mistry, Chairman of Tata Steel said the next 18-24 months will be challenging for the firm owing to volatile raw material prices and systemic weakness in demand in key markets. But he expects the company to strengthen its position on the back of key management initiatives including investment in select facilities, product rationalisation and right sizing of
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HSR Needs Fast Tracking
RECPDCL Handovers Ratle Kiru Power Transmission Limited, a SPV of Transmission Project, to IndiGrid 2 Private Limited
RECPDCL Handovers 3 Nos. SPVs of transmission projects viz. Banaskantha Transco Limited, Kurnool-IV Transmission Limited & Rajasthan V Power Transmission Limited to Power Grid Corporation of India Limited
Showcasing India’s Supply Chain Revolution
Highlighting the Future of Smart, Sustainable Infra
Driving Sustainability Through Innovation
REC Signs ₹18,360 Cr MoU with Govt. of Kerala for Pump Storage Projects
IIFCL Launches its Gender Equality and Social Inclusion (GESI) Cell on the occasion of International Women’s Day 2025.
IIFCL and CBI Sign Expression of Interest to promote Sustainable Infrastructure Financing in India
CCI India presents 1st edition of CEO Round Table Conference on Agriculture
Jayesh Ranjan & Cement Expo Forum Leaders converge in Hyderabad
Fluence Launches Advanced Smartstack Platform for New Energy Storage Era
NBCC inks MoU with NIT Kurukshetra valuing Rs. 300 Crore
REC Foundation Commits ₹6 Crore to Sankara Eye Hospital for Cataract Surgeries Benefiting 8,000 EWS Patients
Integrated Exhibition Cum Convention Centre (IECC), better known as Bharat Mandapam, achieves prestigious GRIHA 4-Star Rating
REC Limited Signs Agreement with CVPPL, to provide ₹2147.508 Crore Term Loan to Develop 1000MW Pakal Dul Hydro Electric Project
NBCC Reports Robust 40% Surge in Net Profit
The time to invest in India’s energy sector is now, says PM Modi
India’s Oil Minister Urges Energy Justice to Ensure Equitable Global Energy Transition
Minister asks firms to invest in oil and gas sector
The Petroleum Minister for Petroleum and Natural Gas M Veerappa Moily has emphasised the need for greater investment in the oil and gas sector. He said this while addressing an Assocham Seminar on Indian Economy in the context of global energy scenario. The minister said the government was committed to deal with the energy security issues. It is in this context that the gas pricing formula was recently revised based on th
Loss of Tata Steel Europe rises to 1.2 bn pounds
Loss of Tata Steel Europe, Britain's largest steel producer, rose to 1.2 billion pounds during 2012-13 from 846 million pounds the previous year. Owing to poor market condition in the second half of the year, the firm witnessed 14 per cent decline in revenues to 8.7 billion pounds. Decline in steel prices, muted demand and competition from cheap imports are affecting the finan
Rupee strengthens against dollar due to regulatory steps
Owing to a slew of measures taken by Reserve Bank of India (RBI) and SEBI and also because of improvement in foreign capital inflows, Indian rupee is strengthening marginally against dollar. After depreciating to a record low of 61.21 some days ago, the Indian rupee strengthened to 59.65 against the dollar, the most since June 28. The recent strengthening of rupee is also helped by the sale of dollar by banks and exporters, reports indica
Govt sticks to formula rather than any fixed price
Even as the union cabinet recently approved the hike in domestic natural gas price to $8.4 million metric British thermal unit (mmbtu) from April 2014, the government does not stick to any fixed price, some media reports indicate. According to these reports, the government has left the market condition to fix the price based on the formula proposed by the Rangarajan committee
Department suggests cap on gas pricing under new regime
The department of expenditure of the union finance ministry suggested the oil ministry to fix a ceiling price for domestic natural gas under the Rangarajan formula. On June 27, the Cabinet Committee on Economic Affairs cleared the adoption of the Rangarajan pricing formula for domestic natural gas from April 2014. But while adopting this formula, the expenditure department suggested that gas producers should not be allow
Infradebt refinances road project
India Infradebt (Infradebt), which is the countryÂ’s first Infrastructure debt funds (IDFs) in the NBFC format, completed its first transaction by refinancing a road project of Zirakpur-Parwanoo section of NH-22. The stretch is built by Himalayan Expressway, which is part of Jaiprakash Group. The debt fund is sponsored by ICICI Bank along with Bank of Baroda, Citigroup and LIC
CII survey calls for reforms to stem rupee weakness
A survey conducted by industry body Confederation of Indian Industry (CII) highlights the importance of economic reforms in arresting the depreciation of rupee against dollar.Some of the key reforms mentioned by the participants of the survey are relaxing the sectoral cap on foreign direct investment (FDI), controlling fuel and fertiliser subsidies, removing hurdles to infrastructure proje
Ministry note justifies gas price hike
An internal note circulated by the petroleum & natural gas ministry has justified the recent decision of the union cabinet to almost double the domestic natural gas price to $8.4 per unit. The note argued that the current price of $4.2 was not viable for “sustenance of the domestic production of gas and all the operators are demanding an increase in price
Liquidity improves in banking system
Liquidity in the banking system has eased as is evident from the decline in the borrowing of banks through Reserve Bank of India's (RBI) liquidity adjustment facility (LAF). Money market participants feel that the easing liquidity may be because the government has already started spending. On a recent day, banks borrowed Rs 10,880 crore through RBI's LAF and this is sharply lower than over Rs 100