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Norway okays $1.6 bn govt takeover of extensive gas pipeline network

Norway in 2023 announced plans to nationalise most of its vast gas pipeline network, a major processing plant and other infrastructure when many existing concessions expire in 2028

Norway okays $1.6 bn govt takeover of extensive gas pipeline network
Updated On : 12 Nov 2024 | 5:43 PM IST

Indian cos raise $6 bn from private credit in first-half 2024: EY report

Real estate, healthcare firms push private credit deals to record high

Indian cos raise $6 bn from private credit in first-half 2024: EY report
Updated On : 11 Sep 2024 | 5:36 PM IST

K'taka clears Bill to mandate 100% reservation for Kannadigas at pvt cos

The Karnataka cabinet has approved a bill mandating 100 per cent reservation for Kannadigas in private firms for Group C and Group D posts, Chief Minister Siddaramaiah said on Tuesday. The CM said the decision was taken in the cabinet meeting held on Monday. "The Cabinet meeting held yesterday approved a bill to make recruitment of 100 per cent Kannadigas mandatory for 'C and D' grade posts in all private industries in the state," Siddaramaiah said in a post on social media platform X. He said it was his government's wish that Kannadigas be given an opportunity to lead a comfortable life in their state and not be deprived of jobs in 'Kannada land'. "We are a pro-Kannada government. Our priority is to look after the welfare of Kannadigas," the chief minister said. According to sources in the law department, the bill will be tabled on Thursday in the assembly.

K'taka clears Bill to mandate 100% reservation for Kannadigas at pvt cos
Updated On : 16 Jul 2024 | 10:38 PM IST

Company registrations decline in April while LLPs reach new heights

Ongoing Lok Sabha elections and high base effect from record registrations in FY24 were attributed as reasons for the April drop

Company registrations decline in April while LLPs reach new heights
Updated On : 10 May 2024 | 9:37 AM IST

India aims for 1st strategic petroleum reserve with pvt company by 2029-30

So far, India has allowed only partial commercialisation for its three existing SPRs in southern India, which have a combined capacity of 36.7 million barrels

India aims for 1st strategic petroleum reserve with pvt company by 2029-30
Updated On : 04 Apr 2024 | 8:42 AM IST

Uttar Pradesh govt invites private players to invest in e-mobility market

The transport department is also looking to buy 100 e-buses, which will be deployed on select routes, such as Ghaziabad, Agra, and Ayodhya districts

Uttar Pradesh govt invites private players to invest in e-mobility market
Updated On : 18 Mar 2024 | 5:54 PM IST

JTL Industries' board approves Rs 1,200 crore investment proposal

JTL Industries Ltd said its board has approved an investment proposal of Rs 1,200 crore in company's arm JTL Tubes Ltd to set up a project in Maharashtra. The investment will be funded partly from the internal accruals and partly from proceeds of a proposed issue, the steel pipes maker said on Monday. The company's board of directors has approved "issue of securities by way of qualified institutions placement (QIP) for aggregate amount not exceeding Rs 500 crore in one or more tranches, including green shoe option," the filing said. The board also approved a proposal to invest up to an aggregate sum of Rs 1,200 crore in wholly-owned subsidiary JTL Tubes Limited to set up a mega project in Maharashtra, an exchange filing said. JTL Industries Ltd (formerly known as JTL Infra Ltd) is the largest producer of electric resistance welded (ERW) steel pipes in India, with a capacity to produce more than 6 lakh metric tonnes per annum.

JTL Industries' board approves Rs 1,200 crore investment proposal
Updated On : 19 Dec 2023 | 2:43 PM IST

From unicorns to zombies, tech startups run out of time and money

Around 3,200 private venture-backed US firms have gone out of business in 2023

From unicorns to zombies, tech startups run out of time and money
Updated On : 07 Dec 2023 | 11:04 PM IST

Bank lending to private corporate rises 14.9% in Sep 2023: RBI data

Bank lending to the private corporate sector grew 14.9 per cent in September 2023 from 14.7 per cent a year ago, according to the Reserve Bank data released Friday. Another set of banking data released by the central bank showed the share of term deposits bearing a 6 to 8 per cent interest rate rose to 78.6 per cent in September 2023 against 12.5 per cent in March 2022. According to data on outstanding credit of banks at September-end 2023, loans to industry accounted for nearly one-fourth of total bank credit; they increased by 8.6 per cent (year-on-year) in September 2023 (against 12.3 per cent a year ago); working capital loans growth has remained in double digits for the last six quarters. "Bank lending to the private corporate sector recorded robust growth and accelerated to 14.9 per cent (year-on-year) in September 2023 from 11.5 per cent a quarter ago and 14.7 per cent a year ago," the RBI said. The share of personal loans in bank credit has successively increased to over 30

Bank lending to private corporate rises 14.9% in Sep 2023: RBI data
Updated On : 01 Dec 2023 | 9:28 PM IST

Govt asks private companies to dematerialise securities by Sept 2024

The government has asked private companies to dematerialise their securities by September 2024, a move that will help enhance transparency and will have a broad impact. The requirement will be applicable to private companies, excluding small companies and government companies. There are about 1.4 million private companies registered under the companies law with the Ministry of Corporate Affairs (MCA). Private companies can issue securities only in dematerialised form and should facilitate the dematerialisation of all securities by September 2024, according to an MCA notification. Dematerialisation refers to the conversion of securities held in physical form to dematerialised or digitised form. In this regard, amendments have been made to the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023. "A private company, which as on the last day of a financial year, ending on or after 31st March 2023, is not a small company as per audited financial statements

Govt asks private companies to dematerialise securities by Sept 2024
Updated On : 30 Oct 2023 | 5:43 PM IST

'Pvt sector can provide advisory services, tech to support agri sector'

NITI Aayog member Ramesh Chand on Thursday emphasised on the importance of partnership between the private and public sectors for long-term agricultural growth. Addressing an event organised by industry body Assocham, Chand further stressed on the need for coming up with new ways to boost agricultural output and recognising the wide range of agricultural practices across the country. "Private sector can play a critical role in precision farming In India. It can provide advisory services, agrochemicals, and suitable technology to support agricultural development," he said. He also highlighted the growth seen in India's agricultural industry, notably in livestock and fisheries, with an annual increase of roughly 2.75 per cent. The NITI Aayog member elaborated on the complex interaction between agriculture and climate change. "The real challenge lies in increasing productivity. To do so, we must address concerns of cost, technological progress, and resource efficiency," he said. Cha

'Pvt sector can provide advisory services, tech to support agri sector'
Updated On : 26 Oct 2023 | 5:12 PM IST

Jai Balaji Industries profit jumps to Rs 201 crore in Sept quarter

Jai Balaji Industries Ltd, on Monday reported a steep jump in profit to Rs 201 crore for the September quarter. It had reported a profit of Rs 21 crore in the year-ago period. The company attributed the increase to improved sales and a substantial increase in realisations. The revenue from operations for the second quarter of the current fiscal stood at Rs 1,546 crore, indicating a growth of nearly 13 per cent compared to Rs 1,369 crore during the same period last year, the company said in a statement. Jai Balaji Chairman and Managing Director Aditya Jajodia attributed the increase in profits to better operational efficiency and increased sales, highlighting the company's continued commitment to deliver value to its stakeholders and investors. The equity capital of Jai Balaji Industries increased to Rs 160.45 crore during the quarter, the company said.

Jai Balaji Industries profit jumps to Rs 201 crore in Sept quarter
Updated On : 16 Oct 2023 | 6:59 PM IST

Fund raised via bonds on private placement up 73% to Rs 3.3 trn in Apr-Aug

Corporates garnered Rs 3.31 lakh crore through the issuance of bonds on a private placement basis in the first five months of the ongoing fiscal, a surge of 73 per cent from the year-ago period. The funds were mopped up to strengthen balance sheets, retire existing debt and support working capital requirements, market experts said. According to data available with markets regulator Sebi, Rs 3.31 lakh crore was mopped-up through the route during the April-August period of the current fiscal. In comparison, firms raised Rs 1.91 lakh crore in the first five months of 2022-23, data showed. Market experts attributed several factors to higher fund mobilisation through private placement of corporate bonds such as increase in credit demand, soaring bank loan rates, and expensive overseas borrowing. In terms of numbers, 520 issuances took place during the period under review as compared to 508 in the year-ago period. In private placements, firms issue securities or bonds to institutional

Fund raised via bonds on private placement up 73% to Rs 3.3 trn in Apr-Aug
Updated On : 03 Oct 2023 | 6:28 PM IST

Top headlines: Tomato to hit Rs 300 in coming days, ED raids Pawan Munjal

Business Standard brings you the top headlines at this hour

Top headlines: Tomato to hit Rs 300 in coming days, ED raids Pawan Munjal
Updated On : 03 Aug 2023 | 8:49 AM IST

Foreign players' share in private sector capital expenditure declines

Domestic players are driving new project announcements

Foreign players' share in private sector capital expenditure declines
Updated On : 01 Aug 2023 | 11:11 PM IST

Apple makes Wall St history as first company with market value over $3 trn

The iPhone maker briefly rose above the $3 trillion level in early 2022, although it failed to close above it, and that peak marked the start of a downtrend that has now been fully erased

Apple makes Wall St history as first company with market value over $3 trn
Updated On : 01 Jul 2023 | 6:57 AM IST

Unilever CFO Pitkethly to leave company by May 2024 as inflation worsens

The announcement of his departure comes as Unilever, like the rest of the consumer goods industry, is grappling with significant cost inflation and pressure on its margins

Unilever CFO Pitkethly to leave company by May 2024 as inflation worsens
Updated On : 30 May 2023 | 1:06 PM IST

Govt allows 5 pvt firms for cluster farming with Rs 750 cr investment

The Centre has allowed five private firms to undertake cluster farming of specific horticulture crops in about 50,000 hectares on a pilot basis entailing an investment of Rs 750 crore, including government subsidy -- a moved aimed at making Indian produce globally competitive and boost farmers' income. Desai Agrifoods, FIL Industries, Sahyadri Farms, Meghalaya Basin Management Agency, and Prasad Seeds are five companies selected for pilot cluster farming through a bidding process. The Centre will give financial assistance up to Rs 100 crore depending on the size of the project under the recently launched central scheme Cluster Development Programme (CDP), which is implemented by the National Horticulture Board with an outlay of Rs 2,200 crore. Speaking with PTI, Priya Ranjan, Joint Secretary in the Agriculture Ministry, said, the cluster-based approach has seen an incredible amount of success across the world. In India, the government for the first time is encouraging market-led .

Govt allows 5 pvt firms for cluster farming with Rs 750 cr investment
Updated On : 10 Apr 2023 | 7:25 PM IST

Adani-owned NDTV's profit more than halves for Q3 on advertising drop

Indian broadcaster New Delhi Television Ltd, part of the embattled Adani Group, said on Tuesday that profit had more than halved in the third quarter on weak advertising demand

Adani-owned NDTV's profit more than halves for Q3 on advertising drop
Updated On : 07 Feb 2023 | 9:26 PM IST

Private companies lap up Esri's GIS software for multiple uses

Government departments have used it to build village land records, track rural roads, and manage water resources

Private companies lap up Esri's GIS software for multiple uses
Updated On : 13 Dec 2022 | 11:00 PM IST