CAPACITY CUTS

Bansal Wire Industries plans to raise Rs 745 crore through an IPO to reduce debt and meet working capital needs. The company doubled its installed capacity with a Rs 500 crore investment, expecting full benefits this fiscal year. Additionally, the I...

Natural Environment Solutions Pvt Ltd (NES) on Tuesday announced its foray into the Indian data centre industry with a 5 MW facility in Pune and said it plans to scale up to over 100 MW of data centre capacity across the country in the next three ye...

Pradeep S. Mehta, Secretary General of CUTS International, emphasized that integrating the African continent into the G20 and other global governance systems should be a collaborative effort involving both the African Union Commission and other stak...

More than 100 countries at the COP28 climate summit in Dubai last year had agreed to triple renewable energy capacity by 2030 and cut down the use of fossil fuel and emissions, a move seen as vital to avert the worst effects of climate change. The p...

The plan to divest the steel business is a part of the company’s efforts to cut debt, Agarwal said in the company’s annual report for 2023-24 (Apr-Mar). At holding company Vedanta Resources, debt has been cut by $3.7 billion in two years, as against...

Global demand is expected to "level off" at 106 million barrels per day (bpd) toward the end of this decade while overall supply capacity could reach 114 million bpd, the IEA said in an annual report. This would result in a "staggering" surplus of e...

A study by CRISIL Ratings reveals that the organised paints sector's production capacity is set to double to 7.8 billion litre per annum by 2027 with investments of Rs 19,000 crore lined up from key industry players.

India's economy is thriving with 8.2% GDP growth, strong public investment, and tax revenues. However, weak consumer demand and private capex remain issues. To boost growth, the government should create more public sector jobs, increasing incomes an...

Oil prices fell as OPEC+ extended output cuts, impacting Brent and WTI futures. Goldman Sachs analysts view meeting as bearish. Gaza conflict mediators urge Israel-Hamas ceasefire. Israel considers alternative to Iran-backed group.

In the March 2024 quarter, all-India average cement price fell by 5.1% year-on-year to Rs359 per 50 kg amid weak demand across regions. As a result, cement firms focused more on sales volume. Sales volume of large cement companies grew by 7-22% duri...

OPEC+, a coalition of OPEC and its allies, is set to meet on June 2 to discuss their joint oil production policy. OPEC was founded in 1960 by Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela to coordinate petroleum policies and secure fair prices. It...

INDIA-VEDANTA-India's Vedanta Aluminium turning to renewables, not adding coal capacity, CEO says

India has significantly enhanced its defense capabilities over the past decade, with a focus on indigenous manufacturing and reducing reliance on arms imports. VK Saraswat, a member of NITI Aayog and former chief of the DRDO, highlighted that 60% of...

India's defence capabilities have significantly improved in the past decade under the Modi government. NITI Aayog member VK Saraswat highlighted the country's reliance on arms import only for immediate needs, with major corporate houses now manufact...

Asian Paints stays committed to investing in brand value and capacity expansion, unfazed by new market entrants' pricing strategies. The company's growth outlook remains positive, with a focus on customer loyalty, retail expansion, and strategic inv...

The government has launched a new scheme to encourage the installation of solar panels on rooftops, aiming to triple renewable capacity by 2030. The program provides subsidies to install grid-connected systems, allowing households to reduce electric...

The company, viewed as a barometer of world trade, last week said that shipping disruptions caused by Houthi militants' attacks on vessels in the Red Sea were expected to last at least until the end of the year. "The risk zone has expanded, and atta...

Russia plans additional oil supply cuts with production reductions and decreased exports amid curtailed refining capacity and stricter sanctions. Tuapse, Volgograd, and NORSI refineries, along with Novatek's fuel processing at Ust-Luga, have reduced...

Finance minister Nirmala Sitharaman stressed the positive impact of the corporate tax rate cut on private investments and credit growth. She emphasized the need for capacity expansion in high employment potential areas. India is negotiating free tra...