COMPANIES & SECTORS


Moneylife Digital Team 27 May 2022
South India Spinners Association (all members unanimously), on 22 May 2022, announced that it has decided to close all mills. “The members will not buy cotton until the cotton price situation is conducive for sustainability of mills,” it says, stopping all procurement of cotton. It has cited...

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The Supreme Court (SC) on Thursday set aside the Delhi High Court (HC) order, which stayed the investigation into companies related to the Sahara group and also the look out circulars (LOCs) issued against Sahara group chief Subrata Roy and his wife.   A bench comprising justices DY...

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The ministry of power on Wednesday said in a statement that it is working on a scheme to liquidate the past dues of discoms (distribution companies) as it owes Rs1,00,018 crore as on 18 May 2022 to the generating companies.   The discoms will be allowed to pay dues in 48 monthly...

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Moneylife Digital Team 25 May 2022
ArcelorMittal Nippon Steel India has announced an investment of Rs1,000 crore towards brownfield expansion of its Vizag pellet plant in Andhra Pradesh.   This investment follows a recent announcement by ArcelorMittal, a parent company of AM/NS India, to develop a ‘round the clock’...

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Moneylife Digital Team 25 May 2022
A sharp increase in the prices of solar modules and commodities such as steel,  together with rising freight costs, will pull down the return on equity (ROE) of nearly a fifth of the 25 GW (gigawatt) private solar capacity, according to a recent study by research and ratings agency CRISIL....

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The dairy farmers of Tirupur are affected after the increased price of cotton seeds led to an increase in the price of cattle feed. Cotton seeds are a vital part of the cattle feed and are rich in protein and fibre.   Farmers told IANS that the price of cotton seeds has gone up from...

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Forced to pay service charges at a restaurant or food outlet of your choice? Are you aware this is entirely optional and voluntary and insistence on it as mandatory violates your right as a consumer?   The government has scheduled a meeting on 2nd June with the National Restaurant...

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The average bid price of coal at a recent spot e-auction conducted by Mahanadi Coalfields Limited rose more than 800% above the notified price, according to a representation by the Coal Consumers Association of India (CCAI), which has pointed this out as an example of how coal buyers in the...

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Intensity of spending in information technology (IT) by BFS (Banking and Financial Services) firms continues to be strong going into 2022, following a good year in 2021, said brokerage house Kotak Securities.   "For example, Citi in its investor day in March announced a 10 per cent...

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After healthtech platform mFine laid off over 50 per cent of its total workforce (more than 500 employees), Prime Venture Partners which is one of its existing investors said on Monday that this restructuring will give the platform an opportunity to pull through and continue to provide access...

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The enforcement directorate (ED) on Friday said that it has attached properties worth several crores of rupees belonging to some companies in connection with a money laundering case against PACL India Ltd.   While the attached immovable assets are in the form of land ad-measuring...

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The Supreme Court on Thursday dismissed review petitions filed on behalf of Cyrus Investments Pvt Ltd and Sterling Investments Pvt Ltd seeking review of the apex court's March 2021 judgement upholding Tata group's decision to remove Cyrus Mistry as executive chairman of Tata Sons.   A...

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Edtech platform Vedantu has laid off 424 more employees, nearly 7 per cent of its workforce, as the online education space shrinks in the country.   "There is no easy way to say this but I am truly sorry. Out of 5900 Vedans (employees), 424 of our fellow teammates i.e about 7 per cent...

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The Supreme Court on Tuesday agreed to list a plea by SFIO (serious fraud investigation office) challenging a Delhi High Court (HC) order, which stayed the investigation into companies related to the Sahara group.   A plea by SFIO said: "The petitioner SFIO has filed the captioned...

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Tech billionaire Elon Musk on Tuesday said that the $44 billion Twitter deal "cannot move forward" until the micro-blogging site's CEO Parag Agrawal proves the bot numbers.   In a series of tweets, Musk mentioned that the CEO publicly refused to show proof of less than 5 per cent of...

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Moneylife Digital Team 16 May 2022
Over the past two fiscals, the COVID-19 pandemic has changed the dynamics of many an industry. The passenger vehicles segment is one such. During the past fiscal, passenger cars priced Rs10 lakh (Rs1 million) and above sold five times faster than the cars in the lower price segment, says a...

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The Adani family, through an offshore special purpose vehicle (SPV), announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd's entire stake in two of Indias leading cement companies -Ambuja Cements Ltd and ACC Ltd.   Holcim, through...

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Tesla and SpaceX CEO Elon Musk has decided to visit Indonesia in November this year, as he reportedly wraps up Tesla operations in India amid continuous requests from top ministers and senior politicians to come and manufacture electric cars in the country.   The Indonesian government...

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After saying that he is putting $44 billion Twitter deal on hold till he gets to know how many fake or spam accounts are present on the platform, Tesla CEO Elon Musk on Friday said that he is still commited to the $44 billion acquisition.   "Twitter deal temporarily on hold pending...

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Moneylife Digital Team 12 May 2022
Supply factors are likely to limit near-term growth opportunities for Indian renewable power generators, stemming from the country's current heatwave and high fossil-fuel prices. Nonetheless, their medium-term prospects remain strong and are supported by government policies to diversify...

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