HEAVY INDUSTRIES
Delhi airport operator DIAL sets up technical panel to probe roof collapse incident
In the Terminal 1 roof collapse probe, we engage with NDRF, BCAS, and Delhi Police to ensure a thorough investigation and safety measures.
Delhi rain: Traffic crawls, people wade through waterlogged areas; BJP councillor rows in protest
Heavy rain on Friday morning brought relief from a prolonged heat wave to the national capital. However, the showers caused waterlogging in various parts of the city, impacting traffic and the daily lives of residents and commuters.
Budget 2024: Hi-tech thermal plants may get Rs 6,000 cr viability support
Budget 2024: The Union budget for 2024-25 is expected to include a support scheme for setting up 800 MW coal-based power plants using Advanced Ultra Supercritical (AUSC) technology. The finance ministry is evaluating a proposal for ₹6,000 crore viability gap funding (VGF) and a ₹3,500 crore payment security mechanism for electric buses. The project, based on indigenous technology developed by a consortium of Bharat Heavy Electricals Limited, Indira Gandhi Centre for Atomic Research, and NTPC, is expected to cost upwards of ₹15,000 crore at completion.
HD Kumaraswamy holds meet to revive ailing Hindustan Machine and Tools
Prime Minister Narendra Modi's Atmanirbhar Bharat (self-reliant India) initiative was highlighted as a framework for HMT's revival, the statement added. Kohli is said to have outlined the various problems HMT is facing, including financial crises, lawsuits, and overall losses.
Kumaraswamy holds meeting to revive ailing HMT
Heavy Industries Minister H D Kumaraswamy has directed top officials of Hindustan Machine Tools (HMT) to prepare proposals aimed at revitalizing the struggling public sector enterprise. The once-prestigious HMT is currently grappling with significant challenges, including financial difficulties, legal issues, and operational losses. Kumaraswamy emphasized the importance of strengthening HMT and instructed its Chairman and Managing Director, Rajesh Kohli, to submit a detailed revival plan to the central government.
Kumaraswamy clarifies remarks over job creation, says semiconductor industry strategic for India
Union Minister HD Kumaraswamy clarified he was misquoted about remarks on US semiconductor firm Micron, stressing the importance of the semiconductor industry for electronics and automobile manufacturing. He expressed appreciation for @PMOIndia's initiatives and pledged to support them through his ministry. Kumaraswamy emphasized the strategic significance of bringing the semiconductor sector to India and creating jobs in the small-scale industry.
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Adani Group awards Rs 7,000 crore orders to BHEL for two power plants
Bharat Heavy Electricals Limited (BHEL) has secured orders worth Rs 7,000 crore from Adani Group for two power plants. The projects include the Raipur and Mirzapur supercritical thermal power plants in Chhattisgarh and Uttar Pradesh, with BHEL handling the manufacture, supply, and commissioning of key equipment. BHEL is India's leading engineering and manufacturing enterprise in energy, industry, and infrastructure.
Kumaraswamy says he will take businesses into confidence & focus on adding jobs
The JDS leader, who spoke to the media in Delhi soon after the portfolios were announced, said he believed India’s development hinged on his portfolio. There were lots of expectations from the government in the manufacturing sector, he said, while thanking the PM for giving him such a crucial ministry by reposing faith in him.
Heavyweights to do the Heavy Lifting in Round 3
Prime Minister Narendra Modi reappointed key members of his previous administration, including the Big Four cabinet members of the Cabinet Committee on Security (CCS) such as Amit Shah, Rajnath Singh, Nirmala Sitharaman, and S Jaishankar.
Bajaj Chetak 2901 launched in India under Rs 1 lakh. Check price, features
Bajaj Auto has recently unveiled the latest addition to its electric scooter range, the Chetak 2901. Priced at INR 95,998 (ex-showroom, Bangalore), this model comes in five vibrant colors: Red, White, Black, Lime Yellow, and Azure Blue. The Chetak 2901 is equipped with a sturdy metal body and advanced technological features, making it a standout in the electric scooter market.
Modi 3.0 has heavy lifting to do on tax reforms to managing stock risks
Economists outline key priorities for India's incoming government, emphasizing the need for growth, job creation, and macro stability. Pronab Sen highlights the importance of sustainable livelihoods, while Pranjul Bhandari suggests that 'easy' reforms could maintain 6.5% growth. However, achieving 70 million jobs requires politically sensitive reforms in agriculture, labor, and land. Additional recommendations include infrastructure investment, judicial reforms, enhancing export competitiveness, and further tax reforms, particularly bringing petroleum and power under GST.
10 years of Modi: 670 small & midcaps zoom up to 48,000%; will the counters repeat show?
Small and midcap stocks witnessed massive surge under the Narendra Modi government in the last 10 years, with over 670 BSE-listed stocks turning multibaggers.
Tokyo stocks open lower
Tokyo stocks opened lower on Wednesday, weighed down by a stronger yen against the dollar despite gains on Wall Street. The dollar fetched 155.35 yen in early Asian trade, up from 154.80 yen in New York, but still down from 155.91 yen in Tokyo late Tuesday.
Midcaps, smallcaps, microcaps plunge up to 20%. BHEL, HUDCO among top losers
Market fall on Tuesday impacted Nifty Midcap 100, Nifty Smallcap 100, and Nifty Microcap 250 indices. Midcap index fell by 7% to 49,623.10, Smallcap index dropped by 7% to 15,801.80, and Microcap saw 247 stocks in red.
Hero Electric, Okinawa, Benling could be blacklisted from all govt schemes, say officials
Three electric vehicle makers, Hero Electric, Okinawa, and Benling India, face blacklisting from central schemes for not returning wrongly claimed benefits under the government's FAME-II scheme due to violations of local sourcing requirements by OEMs in 2022.
If Modi is re-elected, these sectors will get his most attention
Prime Minister Narendra Modi has pledged to propel India to become the world's third-largest economy if re-elected for a third term. His ambitious 100-day agenda post-election includes prioritizing manufacturing, new-age technology, infrastructure development, and clean energy sectors. The government aims to implement reforms to boost economic growth and attract foreign investment.
Govt to hold 2nd meet with stakeholders to issue draft guidelines for new EV policy
The Ministry of Heavy Industries is drafting guidelines for the new electric vehicle policy to attract global automakers like Tesla. Automakers, including Vietnam's Vinfast, must invest as per the new norms to avail incentives under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) approved on March 15, 2024.
Oil firms blamed for ethanol stock pile-up
India's ethanol production capacity was about 13.80 billion litres per year in November 2023, of which 8.75 billion litres were molasses-based and about 5.05 billion litres grain-based, according to government data. The production capacity was about 4.20 billion litres in 2014.
Companies knowingly violated FAME subsidy scheme, finds panel
The report, submitted by the panel earlier this month, counters findings of an earlier probe by a joint secretary in the Ministry of Heavy Industries (MHI) that said some key terms in the FAME were not clearly defined.
New e-car norms on way as India looks to build a China Wall on EV street
The development comes weeks after Tesla chief Elon Musk cancelled his much-hyped visit to India in April. Tesla is yet to communicate its India plans to the government under the new EV policy, the official said. Musk, who was scheduled to visit India April 21-22, postponed his visit at the last moment, citing “very heavy Tesla obligations”.
Govt to come out with detailed guidelines for investment under EV policy
The government, through the Ministry of Heavy Industries, is creating detailed guidelines for companies seeking investments under the electric-vehicle policy. The guidelines will cover duty concessions, setting up manufacturing units, and incentives for auto firms applying under the policy.
Reliance faces many hurdles in getting crucial crude delivered as global market struggles
Reliance Industries Ltd., India’s largest private refiner, faces challenges in getting shipments of heavy crude delivered due to sanctions and OPEC+ cuts. To secure needed barrels, it purchased 2 million barrels of Canada’s Access Western Blend crude, embarking on a complex journey involving ship-to-ship transfers and a long voyage to India via the Pacific.
10 Best Air Blowers in India to Tackle Tough Dirt and Dust with Ease (2024)
Say goodbye to stubborn dirt and hello to effortless cleaning with this selection of the best air blowers in India. From powerful motors to durable construction, each blower on this list is designed to deliver exceptional performance. Whether you are clearing dust and debris from your home, workshop, or office, this selection offers the ideal solution to streamline your cleaning tasks. With features such as variable speed settings, and lightweight designs these air blowers ensure maximum efficiency and convenience.
Govt keeping top EV makers accused of FAME subsidy misappropriation out of the new scheme: Report
EV makers face subsidy dispute. EMPS 2024 offers Rs 10,000 per two-wheeler. TVS Motor and Ather show notable sales growth in FY24, while electric vehicle manufacturers experience production decrease amid subsidy conflict.
Diversion of B Heavy Molasses will release Rs 2300 crore for the distilleries; says NFCSF
The decision of the central government to allow use of the 7 lakh tonnes of B Heavy Molasses for ethanol production will help the sugar industry get a revenue of Rs 2300 crores, said National Federation of Cooperative Sugar Factories (NFCSF), which represents the cooperative sugar mills of the country.
New set of exporters emerging from India? 5 stocks from engineering sector with an upside potential of up to 33%
It has been a long time that engineering major L&T has ventured into exports of engineering services to the Middle East, then it moved into exports of engineering goods. Over the years, there are companies, who specialize in some industries who also have been able to get an entry into the export market. Getting into the export market is not easy and it takes years to get into the market for two reasons. First, global companies tend to be very aggressive in bidding so that new competition does not come in. Second, Indian companies which are sort of a crossover of engineering and capital goods, required the ability to sustain these attempts to get into the esports market at a time when domestic demand was very poor. Now in the last few years, things have improved on the domestic demand and hence these companies were able to put their foot forward into the export market. Will these companies become a new set of exporters from India?
Govt plans major capital goods production push
India is considering expanding its capital goods promotion scheme to include sectors like pharmaceuticals and textiles. The current scheme primarily supports electrical component and automobile manufacturing, but the government is now considering extending support to other sectors. Plans are also being considered to introduce new-age technologies beyond electric vehicles, batteries, and automobile manufacturing.
Bandhan Flexi Cap mutual fund's current return profile remains poor; should you remain invested?
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
Up to 6,220% return! 328 stocks turn multibaggers since last Holi
Within largecaps, top gainers include Bharat Heavy Electricals (206%), REC (270%), Power Finance Corporation (191%), Trent (194%), Zomato (217%) and Adani Green Energy (199%).
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