Financial News

By Riya Majumder, 23 October, 2019

GE Power India Limited NSE Symbol:GEPIL, BSE Security Code:532309 has informed the stock exchange that, meeting of the Board of Directors of the company will be held on Monday, 4th November, 2019 to consider, approve and take on record the un-audited consolidated financial result of the company for the second quarter (Q2), from the month of July, 2019 to the month of September, 2019 for the fiscal year 2019-20.

By INN, 30 November, 2022

Market potential and investment opportunities in space cooling will be $1.5 trillion by 2040 in India. Therefore, it would be imperative for the government to create an adequate enabling investment framework that can attract financing from the private sector, said a World Bank report released on Wednesday.

The report titled "Climate Investment Opportunities in India's Cooling Sector" further estimated that by 2050, 45 per cent of the country's peak electricity demand in 2050 is expected to come from space cooling alone.

By INN, 30 November, 2022

 For the third straight day this week, the Indian stock markets went up with the Sensex of BSE and Nifty of NSE touching new heights on Wednesday and ended the month on that note.

The Sensex of BSE touched a record high of 63,303.31 points after opening at 62,743.47 points and touched a low of 62,648.38 points.

It had closed at 63,099.65 points, up by 417.81 points.

At the NSE, the Nifty opened 18,625.70 points after previously closing at 18,618.05 points.

By INN, 30 November, 2022

Karnataka Minister for Large and Medium Scale Industry Dr Murugesh R. Nirani while expressing shock at Vikram Kirloskar's demise, said he cannot think of the Indian automotive industry without the industrialist.

Nirani said Vikram Kirloskar was the stalwart of the automotive industry and the face of Toyota in India. Kirloskar passed away on Tuesday at the age of 64.

Recalling his association with Vikram, Nirani said his association with the doyen of automotive Industry and his family goes 20-years back.

By INN, 30 November, 2022

Essar Oil UK Limited has announced its plan to build a 360 million-pound major new carbon capture plant at its Stanlow refinery in line with its ambition to become a leading low carbon refinery by 2030.

Essar is investing over 1 billion pounds into a range of energy efficiency, fuel-switching, and carbon capture initiatives, designed to decarbonise its production processes significantly by 2030 and put Essar at the forefront of the UK's shift to low carbon energy.

By INN, 30 November, 2022

 Elon Musk on Wednesday said the US Federal Reserve needs to immediately cut interest rates as a severe recession is looming, ahead of the speech by Fed Chair Jerome Powell at a US event on the outlook for the economy and the changing labour market.

Reacting to Vincent Yu, Founder of Tesmanian.com who said he is expecting a real economic recession in 2023, Musk replied: "Trend is concerning. The Fed needs to cut interest rates immediately. They are massively amplifying the probability of a severe recession".

By INN, 30 November, 2022

The Committee of Creditors (COC) of Reliance Capital (RCAP), in its meeting held on Wednesday, has decided to reject all the binding bids that it received from the bidders on Monday.

The COC is now considering sending Reliance Capital to liquidation, under the newly introduced regulation 6(A) of the IBC, whereby each individual business can be sold separately.

According to sources, the decision to reject the bids had been taken as the lenders are of the opinion that the bid value offered by all the bidders is too low.

By INN, 30 November, 2022

The political tussle between Congress and BJP has intensified with respect to the 'politics of performance'. While Congress is constantly trying to put the Modi government in the dock regarding the economic condition of the country and rising inflation, BJP claims that their government has fared much better in the domain of economy.

By INN, 30 November, 2022

 Indian agrifood startups received a record $4.6 billion in investment in FY 2021-22, up 119 per cent year-over-year, as the country overtook China as Asia-Pacific's biggest funder of agrifood-tech innovation, a report showed on Wednesday.

Farmtech startups raised $1.5 billion across 140 deals, a 185 per cent year-over-year increase, according to the report by VC firms AgFunder and Omnivore.

Restaurant marketplaces and e-grocery startups secured close to $3 billion, around 66 per cent, of the total investment.

By INN, 30 November, 2022

Samsung on Wednesday said it plans to hire nearly 1,000 engineers from IITs and top engineering institutes to work on cutting-edge technologies at its R&D institutes across India, at a time when Big Tech companies lay off thousands of employees across the globe.

The new workforce will join Samsung R&D Institute-Bangalore (SRI-B), Samsung R&D Institute-Noida, Samsung R&D Institute-Delhi and Samsung Semiconductor India Research in Bengaluru next year.