India's coal import rises 50% to 19 million tonnes in June

The country had imported 12.51 MT of coal in the corresponding month a year ago, according to (revised) data compiled by mjunction services. India’s coal import rose 50% to 18.77 million tonnes (MT) in June this year, when compared to the shipments arrived in the same month of 2020. The country had imported 12.51 MT of coal in the corresponding […]

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Record sugar exports help reduce cane payment arrears

Pending dues to farmers a thorny political issue in several States Sugar mills have surpassed their 60 lakh metric tonne export target this year, making it easier for them to pay cane farmers and reducing arrears for this year to less than ₹9,000 crore, according to government data. Pending dues to cane farmers are a thorny political issue in several […]

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Tata Steel interested in acquiring Vizag-based RINL: CEO T.V. Narendran

Domestic steel giant Tata Steel is interested in acquiring state-owned Rashtriya Ispat Nigam Limited (RINL), the company’s Chief Executive Officer (CEO) and Managing Director T.V. Narendran said. RINL, under the Ministry of Steel, owns and operates a 7.3 million tonnes plant in Visakhapatnam, Andhra Pradesh. It holds the distinction of being India’s first shore-based integrated steel plant. The Cabinet Committee […]

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SEBI cuts lock-in period for promoters to 18 months post-IPO

Markets regulator SEBI has reduced the minimum lock-in period for promoters’ investment post an initial public offering (IPO) to 18 months from three years, under certain conditions. The move comes at a time when many companies are looking to list on the stock exchanges. In addition, the Securities and Exchange Board of India (SEBI) has streamlined the disclosure requirements of […]

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AGR dues: Voda-Idea urges SC to review dismissal of plea

In July, Bench concluded that what telecom firms really wanted, under guise of correcting ‘arithmetical errors’, was recalculation of their AGR that runs into crores of rupees Telecom major Voda-Idea has urged the Supreme Court to review its dismissal of their request for an opportunity to place grievances about “arithmetical errors” in their Adjusted Gross Revenue (AGR) dues before the […]

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SF Holdings Q1 profit surges 80% to ₹5.13 cr.

‘Auto still scarred by downturn’ Sundaram Finance Holdings Ltd. (SF Holdings) reported first quarter net profit grew 80% to ₹5.13 crore while revenue rose 13% to ₹10.50 crore. SF Holdings primarily operates as a holding company owning a portfolio of businesses engaged in various aspects of automotive manufacturing. While performance of portfolio companies is improving, they are still below FY20 […]

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SBI Q1 net jumps 55% to record ₹6,504 cr. on lower provisions

Stress seen in home, gold and SME loan segments, observes chairman Khara State Bank of India (SBI) on Wednesday said first-quarter, standalone net profit rose 55.3% to ₹6,504 crore due to lower loan loss provisioning and sizeable recovery from a bad loan account. This is its highest-ever quarterly net profit, the bank said in a filing. This record profit was […]

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‘Kia tops poll for dealer satisfaction with OEMs’

Business viability, a key aspect: FADA A Federation of Automobile Dealers Association (FADA) survey has found that dealers of Kia India are the most satisfied in their dealings with original equipment manufacturers (OEMs), among various mass-market four-wheeler makers. The survey, conducted in association with PremonAsia, sought responses from about 2,000 dealers on OEM-dealer business relationships across factors such as viability […]

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