India’s electricity demand is expected to grow at an average 6.3% annually over the next three years, stronger than the 2015-2024 average growth rate of 5%, as per the forecast by the International Energy Agency. The strong demand for electricity is supported by economic expansion and rising air conditioner ownership, as per the agency. Over
The Enforcement Directorate on Monday said it has issued a notice to Paytm’s parent company, its MD and linked entities for “contravention” of the Foreign Exchange Management Act (FEMA) involving Rs 611 crore. According to Paytm’s annual report for the financial year 2024, the fintech major’s founder, Vijay Shekhar Sharma, is its chairman, managing director
Cognizant Technology Solutions Corp. has once again postponed the salary hikes and will now implement it in August this year, according to a report by Mint. This is reportedly the second time the company has postponed salary hikes in over five months. During a town hall at the company’s newly renovated Kolkata office on Thursday
Larsen and Toubro (L&T) on Monday announced that its Power Transmission & Distribution (PT&D) vertical has secured new orders in India and abroad. In a regulatory filing, the company said that it won an order to implement 765kV and 400kV transmission line segments associated with a Renewable Energy Zone in Uttar Pradesh. Prior to this
While UltraTech ventured into the Cables and Wires (C&W) segment maintaining grey cement as its core business, an analysis report by Nuvama said that there will be no material impact on earnings of existing C&W players in the immediate term (till FY27E). “Even post-FY28E, the impact shall be relatively modest for incumbents given: i) strong
Reliance Industries unit, according to a report by Bloomberg, is under risk of being penalised after failing to set up a battery cell plant that formed part of Prime Minister Narendra Modi’s push to cut import dependence. According to the report that cited people familiar with the matter, Reliance New Energy, among companies that won
The ministry of corporate affairs has asked the top companies participating in the PM internship scheme (PMIS) to set up dedicated PMIS cells within their organisations, an official told FE. The move follows a lukewarm response to the first round of the scheme’s ongoing pilot phase. “With in-house cells in place, these companies can better
Adani Ports And Special Economic Zone Ltd (APSEZ) on Monday released its business update for the month of February wherein it announced that the company has handled 36.5 MMT cargo volume during the period. This was up 3 per cent on a year-on-year basis. The growth was led by container handling which witnessed a 16
Companies in the business of keeping cool are gearing up for a record summer this year. With temperatures already on the rise in the west, east and parts of the north, firms are readying production and distribution initiatives to meet the demand surge expected in the coming summer months. “February and the first two weeks
The domestic stock exchanges have seldom had it so good. Over four years of a bull market, coupled with investors entering in droves — it’s a heady mixture for the bourses. Consequently, their coffers have been flowing over. Sample this: India’s biggest stock exchange – the NSE – reported a 57% and 94% year-on-year growth
Gold prices have reached an unprecedented milestone, surpassing $3,000 an ounce for the first time in history. This surge is largely fuelled by a vigorous buying spree by global central banks, states Bloomberg. Since Russia’s 2022 invasion of Ukraine, central banks have increasingly turned to gold to diversify reserves and reduce dependency on the US
Gold pierced through the psychological milestone of $3,000 an ounce on Friday for the first time, building on an historic rally as trade tensions and U.S. rate cut bets supercharge its appeal as a safe haven asset. Spot gold was up 0.4% at $3,000.39 an ounce at 1031 GMT. Prices have scaled 13 all-time highs
Asia shares rose on Friday and global markets attempted a rebound after a brutal selloff earlier in the week, while gold reached a record as the latest escalation of global trade tensions left nervous investors seeking safe-haven assets. Relief over the likely aversion of a US government shutdown boosted stocks in Asian trade, after Senate
