Top headlines: MoD spends 65% domestically, cement prices to rise, and more

Business Standard brings you the top headlines on Wednesday

How Ukraine war is pushing up cement prices in India; why Gautam Adani is investing in West Bengal. Top headlines this evening tell you why.

MoD spends 65% of FY22 capital budget on domestic procurement

The Ministry of Defence (MoD) announced on Wednesday that it had exceeded its target of spending 64 per cent of the capital acquisition budget on domestic industry in FY22. Read more.

HDFC to sell 10% stake in HDFC Capital Advisors to ADIA for Rs 184 cr

Mortgage lender HDFC Ltd has entered into a binding agreement to sell 10 per cent stake in HDFC Capital Advisors Ltd to a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for Rs 184 crore. Read more.

Supreme Court stays anti-encroachment drive by authorities in Jahangirpuri

The Supreme Court on Wednesday stopped the anti-encroachment drive by authorities in violence-hit Jahangirpuri area here, and agreed to hear a petition challenging the action of the civic bodies allegedly aimed against the riot accused. Read more.
 

India cement prices expected to rise by 6-13% as Ukraine war continues

Following the rise in prices of imported coal, pet coke and crude oil against the backdrop of the Russia-Ukraine conflict, domestic cement prices are expected to increase by 6-13 per cent across the country. Read more.

Adani Group commits to invest Rs 10,000 cr in Bengal over next decade

The Adani Group on Wednesday committed to invest Rs 10,000 crore in West Bengal over the next decade, group chief Gautam Adani announced on Wednesday. Read more.