(ET) Mukesh Ambani-led Reliance Industries hit Rs 10 lakh crore mark in market capitalisation as the bulls pushed the stock to new highs. It became the first India company to reach the coveted milestone. At 10.10 am, shares of RIL were trading at Rs 1,579, up 0.61 per cent on BSE. The market cap stood at Rs 10 lakh crore at the same time.The scrip has climbed 41 per cent year-to-date. In comparison, 30-share pack Sensex has grown barely above 12 per cent. The scrip had been flirting with the milestone since last week when it hit Rs 9.5 lakh crore…
Author: Aruna Sharma
(ET) Steel Authority of India Limited (SAIL), the country’s largest state-owned steel firm on Wednesday said it has launched a new cost control drive across its plants and units with SAIL chairman Anil Kumar Chaudhary deciding on pushing for aggressive cost control in the company. The cost control measures are aimed at not only improving efficiency but also towards imparting a lasting competitive advantage. All plants and units of the company are working on a mission mode to All plants and units of the company are working on a mission mode to reduce the cost of production with the guiding…
(ET) SBI capital and Deloitte are competing for selection as advisor for the sale of the government’s 53.29 per cent stake in Bharat Petroleum Corp (BPCL). Also, law firms Shardul Amarchand, Luthra & Luthra and J Sagar Asoociates are in the race for the role of legal advisor while proposals from two other firms — Protocol Insurance Surveyors and RBSA Advisors – will be studied for the role of asset valuers. DIPAM said in a notification that both SBI Caps and Deloitte will make 15 minutes’ presentations on Thursday post which financial bids will be opened and an advisor will be appointed for…
(LiveMint) Indian Oil on Tuesday issued letters of intent for the set up of six plants to make biodiesel from used cooking oil after an “encouraging response” to an expression of interest from the refiners. Plants with an overall capacity to produce 10,200 tons of biodiesel each year are slated for Gujarat, Uttar Pradesh and Rajasthan, the state-run oil refiner said in a tweet. In August, Indian Oil, Hindustan Petroleum and Bharat Petroleum released an expression of interest to purchase biodiesel from used cooking oil. The retailers are seeking leftover cooking oils from bulk consumers such as hotels, restaurant and canteens…
(PTI) Union Power Minister R K Singh on Wednesday said the ministry has asked states to lower tariffs in view of the implementation of pre-payment arrangement for procuring power by distribution companies. Singh, when asked about a letter given by his ministry to distribution companies asking them to lower prices, said: “We have made an arrangement for pre-payment which means the carrying cost has reduced. Since the carrying cost has reduced, we have told the regulators to cut tariffs. This letter has gone so the tariffs will reduce accordingly. For reducing the tariffs, we have taken other steps as well.” He was speaking on the…
(FE) The commerce ministry has initiated action against 1,271 companies for misusing facilities under the export promotion scheme during the last three years, commerce minister Piyush Goyal said. In a written reply to the Lok Sabha, Goyal said the companies that have misused the system have been denied further facility under the export promotion scheme. Their importer-exporter code has been cancelled/suspended, financial penalty imposed, and recovery proceedings initiated, the minister added. However, he didn’t elaborate on the exact nature of the misuse. In a separate reply, Goyal said that about 268 units have come up during last 4-5 years (against two…
(Tribune) A special session of the 14th Maharashtra Legislative Assembly commenced here on Wednesday to administer oath to the newly-elected members. NCP MP Supriya Sule greeted party MLAs Ajit Pawar and Rohit Pawar at Vidhan Bhawan entrance before the commencement of the session. “This day comes with a big responsibility,” she told reporters. In the House, pro tem Speaker Kalidas Kolambar announced Babanrao Pachpute, Vijaykumar Gavit and Radhakrishna Vikhe Patil as the presiding officers for administering oath of the members.NCP leaders Ajit Pawar, Chhagan Bhujbal, Congress leaders and former chief ministers Ashok Chavan, Prithviraj and former speakers Dilip Walse Patil (NCP) and…
(ET) Coal India has tied up with the Indian Space Research Organisation (ISRO) to develop a satellite-based system to provide air pollution data online to the company and the government. In the recent past, five Coal India subsidiaries were slapped a total fine of Rs 53,331 crore by states for producing in excess of available environmental clearance limits in at least 60 mines. If Coal India has to pay the levies, its finances will be critically hit as the penalty far exceeds its reserves of Rs 38,000 crore. Coal India has used services of satellites for monitoring land reclamation and reforestation. Satellite-based pollution monitoring system exists…
(AU) पानी के बाद अब दिल्ली में खाद्य पदार्थों के भी 20 फीसदी से ज्यादा सैंपल मानकों पर खरे नहीं उतरे हैं। विभिन्न प्रकार के खाद्य पदार्थों की प्रयोगशाला में जांच के बाद यह पुष्टि की गई है। इनमें से कई उत्पाद ऐसे भी हैं, जिन्होंने नियमों के खिलाफ जाकर गलत तरीके से पैकिंग की।96 सैंपल ऐसे भी मिले, जिनका सेवन इंसानों के लिए जानलेवा हो सकता है। वर्ष 2018-19 के दौरान दिल्ली के विभिन्न जिलों से लिए गए इन सैंपल की रिपोर्ट को केंद्रीय स्वास्थ्य मंत्रालय के अधीन भारतीय खाद्य संरक्षा एवं मानक प्राधिकरण (एफएसएसएआई) ने जारी किया है।…
(BS) The Uttar Pradesh government has introduced the blockchain technology to the rooftop solar power segment, allowing consumers to trade their surplus solar energy. Two state power utilities — UP Power Corporation Limited (UPPCL) and UP New and Renewable Energy Development Agency (UPNEDA) — have launched the ambitious project as a pilot in select government buildings in Lucknow with installed rooftop solar power plants. According to state energy watchdog UP Electricity Regulatory Commission (UPERC), Phase-I of the pilot project is expected to be completed in six months. The pilot project drafted by UPPCL and UPNEDA will demonstrate the technical feasibility of peer-to-peer energy trade between rooftop solar photovoltaic (PV) ‘prosumers’ using the…