BUSINESS
Why is global demand for Indian iron ore exploding? MC Explains
According to BigMint data, exports of iron ore pellets increased nearly 80% y-o-y to 11.3 mnt in FY'24 as against 6.3 mnt in FY23.
BUSINESS
Not perturbed by conglomerates entering paints business; not an easy sector to crack: Asian Paints CEO
With a share of over 50 percent, Asian Paints leads the market by a distance, followed by Berger Paints with 18%, Kansai Nerolac Paints with 15%, and AkzoNobel (Dulux) with 7%.
BUSINESS
Asian Paints launches Neo Bharat Latex Paint to tap on booming demand
The company, which is the leading player in India, touts the new segment to being affordable, offering over 1000 shades for consumers.
BUSINESS
'Worst is behind us': Vistara CEO tells staff in newsletter
Vistara CEO said " worst is behind us, and we have already stabilised our operations, with our on-time performance (OTP) increasing to 89% on 9 April 2024 (second highest among all Indian airlines)".
BUSINESS
L&T, CPP investments, sell entire stake in L&T IDPL to Edelweiss Alternatives-backed platform
Epic Concesiones Pvt Ltd buys out entire stake in L&T Infrastructure Development Projects Limited at an enterprise value of Rs 6,000 crore
BUSINESS
India's goal to become pivotal player in global hydrogen market gets a push
In Kandla, the DPA plans to develop a 7 million metric tons per annum (MMTPA) plant for green ammonia production and a 1.4 MMTPA plant for green hydrogen.
BUSINESS
Some pilots tender resignations amid disagreement with management at Tata Group airlines, Air India dismisses claims
Pilots of both airlines have pointed out that under the new contracts, guaranteed minimum flying allowance has been reduced from 70 hours to 40 hours resulting in a monthly pay cut of Rs 1 lakh for First Officers. Air India denied that anyone had resigned. "There is no truth in your assertion about First Officers resigning from Air India."
BUSINESS
IOCL tweaks tender norms for maiden green hydrogen plant, but what are the revisions? MC Explains
A legal dispute prompted IOCL to reissue the tender for the green hydrogen plant last month, removing the controversial right of first refusal clause. However, potential bidders said that IOCL also introduced changes to the eligibility criteria, making it difficult for them to place bids.
BUSINESS
Indian Oil relaunches green hydrogen plant tender, addresses industry concerns
The newly launched tender for the nation's largest green hydrogen plant removed the controversial clause which the some bidders labelled as discriminatory. However, the new norms have a stricter qualification criteria.
BUSINESS
In townhall with pilots, Vistara top brass said to have discussed possibility of trimming network to reduce disruption
Vistara Chief Executive Officer Vinod Kannan held a virtual meeting on April 3 with the pilots, assuring them that the management will work on reducing the pressure on current resources. He urgent them to report to work after the airline was forced to cancel over 100 flights so far in the week.
BUSINESS
JK Lakshmi Cement, Shree Cement eyeing offshore mining foray to secure lime mud
In 2018, the Geological Survey of India (GSI) discovered potential zones of high grade limemud and limesand off Gujarat and Maharashtra coasts. These are useful for cement companies that can cut down on the raw material import bills.
BUSINESS
Has your Vistara flight been cancelled? MC explains why
The spate of cancellations, due to pilots taking sick leave en masse to protest the terms of their new contracts following the airline's merger with Air India, has prompted the Union Civil Aviation Ministry to seek a detailed report from Vistara.
BUSINESS
India poised to secure FTAs with UK, Oman, but what's the deal? MC Explains
While the trade deal with Oman was announced last year, discussions with the UK government were launched in January 2022. However both deals are at an advanced stage and are likely to come into force post the Lok Sabha elections.
BUSINESS
Mahanagar Gas expects to spend Rs 950 crore in FY25: MD Ashu Shinghal
The company reported a consolidated net profit of Rs 317.18 crore for the December 2023 quarter, up 84 percent from a year earlier on lower costs.
BUSINESS
What led VSP, India's first shore-based steel plant, to sell land?
RINL, the corporate entity of Visakhapatnam Steel Plant, has reported losses for most of the years since FY16 with losses exceeding Rs 3,000 crore in FY23.
BUSINESS
Green hydrogen firm Hygenco aims to raise over $100 million by Sept
The company had raised its first round of funds in 2022 from Neev II Fund of close to $25 million.
BUSINESS
NMDC cuts iron ore prices by Rs 200 on global cues
Analysts expected the cut from India's largest iron ore producer as global prices have corrected over the past two months
BUSINESS
Looking for acquisitions for JSW Cement expansion: Sajjan Jindal
Indian cement makers are bullish on the demand environment amid increased government spending on infrastructure, rural development and expansion of the housing sector
BUSINESS
JSW Group looks to participate in lithium mines auction: Sajjan Jindal
Lithium, often referred to as "white gold" due to its market value and silver colour, is one of the most sought-after minerals globally due to its high energy density feature and longer life span
BUSINESS
JSW MG Motor aims to sell EVs at prices that match traditional vehicles
JSW Group and other Indian shareholders have invested Rs 5,000 crore in the JV to enhance capacity expansion and introduction of new car models. Production capacity of MG Motor's Halol facility will be increased to 3 lakh vehicles annually from the current capacity of 1 lakh vehicles.
BUSINESS
Grasim raises Rs 1,250-crore funding from International Finance Corporation
The sustainability-linked funding will support the company’s investment into the paints business, Grasim said
BUSINESS
Gujarat to begin evaluating potential of lithium in Rann of Kutch
A surge in demand for lithium, driven by the energy transition, particularly for electric vehicles and various other rechargeable battery products, is piling pressure on the governments to secure a larger share of the lithium resources
BUSINESS
INOXGFL sees value unlocking opportunity in chemicals business, says Executive Director Jain
There are various things the company is doing in the chemicals space, which can lead to more unlocking opportunities, executive director Devansh Jain has said
BUSINESS
INOXGFL to branch out into more chemical segments, sees strong growth in wind energy business: ED
'We like to list companies,' Devansh Jain told Moneycontrol while talking about value-unlocking opportunities in the group.
