GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION

Cabinet approves offshore wind energy projects in Gujarat, Tamil Nadu with total outlay of Rs 7,453 cr

The Union Cabinet approved India's first offshore wind energy projects with a capacity of 1 GW, divided equally between Gujarat and Tamil Nadu, at a total cost of Rs 7,453 crore. Information & Broadcasting Minister Ashwini Vaishnaw highlighted this as a landmark decision, emphasizing the significant opportunity it represents for India's renewable energy sector.

Cabinet givs nod to VGF scheme for offshore wind energy with Rs 7,453 crore outlay

The Union Cabinet approved a viability gap funding (VGF) scheme for offshore wind energy projects with a total allocation of Rs 7,453 crore. This includes Rs 6,853 crore for installing and commissioning 1 GW of offshore wind projects, split into 500 MW each off Gujarat and Tamil Nadu coasts. Additionally, Rs 600 crore is earmarked for upgrading two ports to support logistics for these projects.

Lack of depth in mid- & smallcap rally hints all’s not shining on D-Street

Mid-cap and small-cap indices in 2024 have seen a remarkable surge, with 20 stocks driving 50% of each index's rally, as per reports. The top contributors include PSUs, financial services, and energy companies.

Wait for DEE Development's financial show post listing for stock exposure

The company had outstanding orders of ₹828 crore as of December 2023, up 47% from FY23, driven by a strategic shift towards the oil and gas sector and pricing advantages over rivals. This resulted in a bid-to-win ratio of 46-81% over the last four years.

NCLT orders insolvency proceeding against Supernova project developer Supertech Realtors

NCLT orders insolvency proceedings against Supertech Realtors for defaulting Rs 168.04 crore to Bank of Maharashtra in the Supernova project.

4 stocks closed crossing above VWAP on June 10

Quant Smallcap Mutual Fund hikes holding in Adani Power, exits Hindalco, Britannia

Quant Small Cap Fund increased holdings in Adani Power in May. Fund exited stocks like Hindalco, Bharat Electronics, and Britannia, as per ETMutualFunds analysis.

Centre's faulty policies, laxity of previous BJP govt caused FDI decline in Karnataka: State Minister MB Patil

MB Patil argued that there is a negative impact on the state also as it is true for the entire country. "But, there is no sharp decline in FY 23-24. The state government has taken constructive measures to better the scenario," he elaborated.

Lok Sabha Elections 2024: Varanasi discusses temple, work, land acquisition...

As the election season draws to a close on June 1, all eyes are on Varanasi, the ancient city that the BJP claims has had its "golden decade" with Prime Minister Narendra Modi as its MP. The stage is set. Modi had done a roadshow here earlier this month as well as sent letters to 2,000 eminent personalities in the district with an appeal to vote on June 1 and support the BJP.

Pricey ore, tepid local demand, Chinese imports weigh on steelmakers' margins

This is the third time in the past decade that local producers are confronting such a situation. "The government has in the past imposed duties against Chinese steel products, including those being routed from countries like Vietnam," a top official of a steel company told ET, adding that the primary steel makers had flagged their concerns to theCentre.

IBC rescued 3,171 distressed companies in eight years: Sitharaman

Finance minister Nirmala Sitharaman on Thursday said the Insolvency and Bankruptcy Code (IBC) has rescued 3,171 distressed companies and assisted in the shutdown of unviable firms since its introduction eight years ago. This is a marked improvement from the resolution of stress in less than 3,500 firms under the erstwhile Board of Industrial and Financial Reconstruction (BIFR) regime in 30 years, she said, pitching the IBC as a landmark piece of legislation.

Kolkata South: TMC looks to extend dominance in its electoral stronghold

Mamata Banerjee initially held this seat for 33 years, and after she stepped down in 2011 to contest as an MLA and subsequently became the Chief Minister, her party colleagues have continued to maintain dominance in this constituency.

Rajkot fire: Have got green signal to quiz top officials, says SIT chief; all DNA samples matched

The chief of the Special Investigation Team (SIT) investigating the Rajkot game zone fire, which killed 27 people, announced that they have been authorized to question senior IAS and IPS officials if necessary. This decision follows a review meeting with Gujarat's Minister of State for Home, Harsh Sanghavi. The Rajkot collector also confirmed that DNA samples of all victims have been matched with their relatives.

Nalco Q4 Results: Profit jumps two-fold YoY to Rs 996.7 cr

​State-owned Nalco on Monday reported two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses. The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE.

SC upholds acquisition of land by DDA, DSIIDC, DMRC between 1957 and 2006 for public infra projects

After hearing arguments on a batch of hundreds of petitions, a bench of justices Surya Kant, Dipankar Datta and Ujjal Bhyan passed the verdict on May 17 setting aside a Delhi High Court order, which had declared the acquisition proceedings to have lapsed in terms of Section 24(2) of the Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement Act, 2013.

Why is MGNREGA implementation so poor in Bihar, Congress asks PM Modi

The Congress general secretary said that in 2015, the "outgoing PM" had famously promised a Rs 1.25 lakh crore package for the people of Bihar and Rs 54,713 crore from this package was earmarked for road and bridge projects. A number of national highways, bridges over the rivers Ganga, Sone and Kosi, and 12 railway overbridges were to be built, he said.

Maharashtra: Death toll climbs to 10 in Dombivali boiler blast, rescue operations underway

A boiler blast at a chemical factory in Dombivli has killed 10 people, with two still missing. Rescue operations continue amidst hazardous conditions. Chairman Siddhesh Kadam, under Chief Minister Eknath Shinde's directive, reviewed the site and emphasized relocating hazardous units to prevent future incidents. Opposition leader Ambadas Danve criticized safety lapses and the factory's proximity to residential areas. Thane Police have filed charges against the factory owners, who are currently absconding. Further details are awaited.

Bifurcation blues: 10 years later, several issues remain unresolved between AP, Telangana

After a decade, Andhra Pradesh and Telangana still face unresolved issues post-bifurcation, including asset division and power bill dues. Hyderabad's transition to Telangana on June 2 as per the AP Reorganisation Act 2014 remains complex. Challenges persist in dividing Schedule 9 and Schedule 10 institutions, influenced by the Sheela Bhide panel's recommendations and disputes over employee transfers.

Defunct iron factory linked to Dalai Lama sees renewed hope of resurrection every election season

Once a major avenue for employment in the region, the factory has been shut for the better part of four decades now. Despite this, the people of the region hold out hope that it will be returned to its former glory. These hopes are fuelled every election cycle, with promises forgotten every results day while administrative apathy pushes the people of Koderma out of the region.

CEA Nageswaran calls on industry to reciprocate deregulation efforts

Flagging reports of Indian automobiles failing safety standards, and of misleading labelling on food products, Chief economic adviser V Anantha Nageswaran said the industry has to make a compact with society as well.

Maharashtra sets an example in empowering the disenfranchised

In all, a total of 125 homeless persons at the shelter have benefited from the initiative undertaken by SEAL's social workers. They are now looking forward to cast their votes in the upcoming Phase-4 of the elections in Maval constituency on May 13.

Political parties flock to Mumbai shelter as homeless residents become voters

Here's the remarkable journey of homeless individuals in Mumbai who have transitioned from shelter residents to registered voters, thanks to the tireless efforts of the Social and Evangelical Association for Love (SEAL). This heartening tale highlights their newfound political empowerment and the attention they've garnered from political parties eager to engage with them.

These 4 stocks closed crossing above VWAP on May 03