latest

23 Sep

Coal imports jump 41% to 25.23 MT in July, demand expected to pick up: mjunction

Priyanka RoyBusiness, latest

India's coal imports rose 40.56 percent to 25.23 million tonnes (MT) in July, according to data compiled by B2B e-commerce platform mjunction Services.The country's coal imports stood at 17.95 MT in the same month last fiscal.Coal imports also increased to 100.48 MT in the April-July period of the current fiscal year from 89.11 MT a year ago.Mjunction Managing Director and CEO Vinay Verma said that import demand is expected to pick up in the coming weeks ahead of the festive season next month."Non-coking coal imports witnessed a increase due to softening of prices in the seaborne market. However, coking coal…

21 Sep

Decrease in employee strength of top PSUs in FY24, biggest drop in Coal India

Priyanka RoyBusiness, latest

The decline in employee headcount is not just limited to the IT sector. Public sector undertakings (PSUs) have also seen a decline in headcount in the last few years. All but four of the top 16 government-owned companies by market capitalisation have seen a decline in their headcount during FY24.A CNBC-TV18 analysis shows that 12 PSUs, including Coal India, State Bank of India (SBI) and Hindustan Aeronautics Limited (HAL), have cut their workforce by 23,306 in FY24 after cutting at the same level in FY23.The biggest decline in the number of employees was seen in Coal India, where 4% to…

20 Sep

Retail inflation plunge to 5.96% for agricultural workers, 6.08% for rural workers

Priyanka RoyBusiness, latest

Retail inflation for agricultural workers and rural labourers declined to 5.96 percent and 6.08 percent, respectively, in August, from 6.17 percent and 6.20 percent in July this year.The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) recorded a rise of 7 points each in August 2024, reaching the levels of 1297 and 1309, respectively.The CPI-AL and CPI-RL in July were 1290 points and 1302 points, respectively.A labour ministry statement said that, "The year-on-year inflation rates based on CPI-AL and CPIRL for this month (August 2024) were recorded at 5.96 percent and 6.08 percent as against 7.37…

19 Sep

India’s trade deficit widens to nearly $30 billion, exports downfall by 9.3%

Priyanka RoyBusiness, latest

The Union Ministry of Commerce and Industry has released a data, according to which India's merchandise trade deficit has increased to $ 29.65 billion in August. According to the data, the trade deficit was $ 29.65 billion, while it was $ 23.5 billion in July and $ 20.98 billion in June.According to data released on Tuesday, India's merchandise exports in August fell 9.3 per cent to $34.71 billion from $38.28 billion in the same month last year. However, imports rose 3.3 per cent to $64.36 billion in August from $62.3 billion in the same month last year.Commerce Secretary Sunil Barthwal…

18 Sep

Wholesale inflation reduction for the second consecutive month to 1.31% in August

Priyanka RoyBusiness, latest

New Delhi: Wholesale inflation plunged for the second consecutive month to 1.31 percent in August due to cheaper vegetables, food articles and fuel, according to government data released on 17 sep.Inflation based on the Wholesale Price Index stood at 2.04 percent in July. In August last year, it was (-) 0.46 percent."The positive rate of inflation in August 2024 is mainly due to the expansion in prices of food articles, processed food products, other manufacturing, textile manufacturing and manufacturing of machinery and equipment, etc," the Ministry of Industry state in a statement.According to the data, inflation in food items stood…

17 Sep

Bajaj Housing IPO: GMP downturn ahead of stock listing today; is it still a multibagger in the making?

Priyanka RoyBusiness, latest

Bajaj Housing Finance IPO was open for bidding between September 9-11, with shares offered in the price band of Rs 66-70 per share with a lot size of 214 shares.Shares of Bajaj Housing Finance are set to hit Dalal Street on Monday, September 16. The issue saw historic investor interest during the three-day bidding process, and is likely to be a multibagger listing on the stock markets. However, its premium has declined in the informal market recently.The grey market premium (GMP) on Bajaj Housing Finance shares before listing was Rs 73-75 per share, indicating a 104-105 per cent upside for…

16 Sep

Adani Power, Adani Green shares increase 6% on power supply pact with Maharashtra discoms

Priyanka RoyBusiness, latest

Adani Company shares, which were trading in the red last week as a result of the latest revelations by Hindenburg which claimed that funds linked to the company were frozen by Swiss authorities, have bounced back somewhat.Adani got a big dealThis is even more true in the case of Adani Green Energy and Adani Power shares. The company's shares rose more than 5 percent in the early hours of the intraday trading session on Monday. This development happened when Adani Energy received a letter of intent from Maharashtra State Electricity Distribution Company Limited for the supply of 6600 MW hybrid…

14 Sep

Oil India to invest Rs 25,000 crore to achieve net zero emissions by 2040

Priyanka RoyBusiness, latest

Oil India to invest Rs 25,000 crore for net zero emissions by 2040 The net zero plans will go hand in hand with the target of raising crude oil and natural gas production to 9 million tonnes of oil and oil equivalent gas per day by 2025-26 from 6.5 million tonnes produced in the financial year ending March 31, 2024.State-run Oil India Ltd Chairman Ranjit Rath on Saturday said the company plans to invest Rs 25,000 crore in clean energy projects to help it achieve net zero carbon emission target by 2040.OIL's net zero plan includes reduction of gas burning…

14 Sep

It’s all over at just 36, the world’s best bodybuilder has passed away prematurely

Banasree SarkarlatestIllia ‘Golem’ Yefimchyk

Another bad news. The journey stopped in just 36 years. The world's best bodybuilder passed away prematurely. Everyone knew him as the best bodybuilder in the world. The famous Belarusian bodybuilder Illia ‘Golem’ Yefimchyk has gone to the land of no return. He suffered a heart attack on September 6 and went into a coma soon after. Despite being closely monitored by doctors, his body began to deteriorate, and his brain became completely damaged. After that, there was no last defense. He died instantly. This bodybuilder from Belarus was very popular on Instagram. He was on a strict diet of…

13 Sep

Maruti Suzuki Swift CNG launched at Rs 8.19 lakh: CNG mileage king?

Priyanka Roylatest

Maruti Suzuki India has officially introduced the much-awaited CNG version of its popular and much-loved hatchback Swift, with prices starting at Rs 8.19 lakh (ex-showroom) and going up to Rs 9.19 lakh for the top-end model.After discontinuing diesel vehicles, the automaker has turned its focus towards CNG as a key component of its growth strategy, aiming to sell six lakh CNG vehicles by the end of FY 2024-25.This latest version of the Swift CNG is available in three variants: VXi, VXi(O), and ZXi. Under the hood, the Swift CNG is powered by a revised 1.2-litre, three-cylinder naturally aspirated petrol engine…