Category: Corporate

Navratna Defence PSU Bharat Electronics Limited (BEL) has achieved a turnover of about Rs.15000 Cr (Provisional & Unaudited), during the Financial Year 2021-22, against the previous year’s turnover of Rs. 13,818 Cr. This is despite the challenges posed by the COVID-19 pandemic and global semiconductors shortage. BEL’s Order Book as on April 1, 2022, is around Rs. 57000 Cr. In the year 2021-22, BEL secured significant orders worth (approx.) Rs.18000 Cr. Some of the major orders acquired during the year were Avionics Pack for Light Combat Aircraft (LCA), Advanced Electronic…

Axis Bank‘s share price witnessed a jump after it announced a Rs 12,325 crore deal with US-based Citigroup. Axis Bank’s share price on Thursday jumped more than one per cent after the private lender announced that it would acquire US-based Citi’s consumer business in India for Rs 12,325 crore. This is one of the largest deals in the Indian financial services space and would help Axis Bank close the gap with larger peers such as ICICI Bank and HDFC Bank, according to a PTI report. AXIS BANK SHARE PRICE Axis…

According to a UN report, India’s projected economic growth for 2022 has been downgraded by over two per cent to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability. The UN Conference on Trade and Development (UNCTAD) report downgraded its global economic growth projection for 2022 to 2.6 per cent from 3.6 per cent due to shocks from the Ukraine war and…

After a hike in petrol, diesel and Liquefied Petroleum Gas (LPG) prices, Indraprastha Gas Limited (IGL) has also increasedthe price of domestic piped natural gas (PNG) by Rs 1 per standard cubic meter (SCM) effective from Thursday. According to IGL, PNG will cost Rs 36.61 per unit in Delhi and Rs 35.86 per unit in Noida, Greater Noida and Ghaziabad. People in Gurugram will need to pay Rs 34.81 per SCM while in Muzaffarnagar, Meerut and Shamli, the new rate is Rs 39.37 per SCM. The new rates will come…

CtrlS – Asia’s largest rated-4 hyperscale data center has performed a ceremonial groundbreaking ceremony kicking-off construction of its third hyperscale data center in Gachibowli, Hyderabad. The data center will be spread across 131,000 square feet equipped with 1,600 racks powered by 18MW of electricity. The groundbreaking ceremony was attended by its customers, partners, employees,  and  government officials. Hyderabad is a preferred destination for disaster recovery services, as the city falls under the seismic zone II. It is no surprise therefore that major organizations such as Flipkart, Bombay Stock Exchange (BSE), ICICI…

Amid the ongoing Russia-Ukraine war, as the international oil prices jumped nearly 40%, diesel price in India has been increased by about Rs 25 per litre for bulk customers. The retail price of diesel however remains unchanged, according to a PTI report.  The month of March had seen petrol pump sales increase by a fifth as bulk users, such as operators of bus fleets and shopping malls, among others, bought diesel in retail, instead of the usual practice of ordering directly from oil companies. This resulted in the loss of…

Union Home and Cooperation Minister Shri Amit Shah inaugurated and laid the foundation stone of various schemes of Sumul Dairy in Surat, Gujarat today. Many dignitaries including Union Minister Smt.DarshanaJardosh and Gujarat Chief Minister ShriBhupendra Patel were present on the occasion. In his address on the occasion, the Union Home and Cooperation Minister said today a historic cooperation conference has been organized in TapiDistrict of South Gujarat. The presence and enthusiasm of a large number of people in this conference is a testament to how strong the cooperative structure is…

National Mineral Development Corporation Ltd. (NMDC), Country’s largest Iron Ore producer, a CPSE under Ministry of Steel conducted an e-auction for sale of rough diamonds produced at its Panna Diamond mines located in the state of Madhya Pradesh. The e-auction received an overwhelming response from Diamond merchants of Surat, Mumbai and Panna. About 8337 Carats of rough diamonds, produced prior to Dec’20, were offered in the auction and almost 100% of the quantity received winning bids. NMDC’s Diamond Mining Project at Majhgawan – Panna happens to be the only mechanised…

NHPC Limited, India’s premier hydropower company and a ‘Mini Ratna’ Category-I Enterprise of the Government of India has paid an interim dividend of Rs. 933.61 crore to Government of India for the financial year 2021-22 on March 4th 2022. The dividend payout bank advice was presented to Shri R.K. Singh, Hon’ble Union Minister of Power, New and Renewable Energy by Shri A.K. Singh, CMD, NHPC on March 10th 2022 in the presence of Shri Alok Kumar, Secretary (Power) Government of India and Shri Y.K. Chaubey, Director (Technical), Shri R.P. Goyal, Director (Finance),…

The Mercedes-Benz S-Class took home the Premium Car Award by ICOTY edging out the Mercedes-AMG A 45 S and the Volvo S60. The Mercedes-Benz S-Class has won the Premium Car Award 2022 by ICOTY . The luxury sedan went against three of its own siblings from Mercedes, the AMG A 35, AMG GLA 35, AMG A 45 S and the Aston Martin DBX and Volvo S60 in the Premium Car Award category. The W223 S-Class made its debut in India last year, and is available in two variants, the S…