Business

The National Small Industries Corporation Limited (NSIC) today paid dividend of Rs.37.97 crore to the Government of India for the Financial Year 2023-24. Chairman-cum-Managing Director Dr. Subhransu Sekhar Acharya presented a dividend cheque to Shri Jitan Ram Manjhi, Hon’ble Union Minister and Sushri Shobha Karandlaje, Hon’ble MoS, Ministry of MSME in the presence of Shri S.C.L. Das, Secretary(MSME) and other senior officers of Ministry and NSIC. This is the highest dividend ever paid by NSIC. The CMD informed that the…

New Delhi : Adani Defence and Aerospace has delivered a second Drishti-10 Starliner surveillance drone to the Indian Navy, boosting India’s maritime forces’ capabilities to monitor shipping lines and mitigate piracy risks. Following the handover of the first Drishti-10 to the Indian Navy earlier this year, the induction of the second unmanned aerial vehicles (UAV), a version of the Israel’s Hermes 900 medium-altitude long-endurance UAV, into naval maritime operations was initiated at Porbandar in Gujarat, sources aware of the matter…

Decriminalization of 63 offences under the Companies  and LLP Acts 13,560 companies struck off through C-PACE in FY 2023-24 and 11,855 companies in the current financial year 2024-25 up to 15th November The Centre for Processing Accelerated Corporate Exit (C-PACE) was established vide MCA Notification No. S.O. 1269(E) dated 17th March 2023 to centralize and speed up the voluntary strike off process of companies u/s 248 (2) of the Companies Act, 2013 in a fast-track mode in order to facilitate…

CAREEDGE has upgraded Gopalpur Port from BBB (RWP) to AA/Stable (upgraded by 6 notches) post acquisition by APSEZ in March 24. CARE notes that “APSEZ has an established track record of successfully turning around port assets including Dhamra port post acquisition through bringing sticking cargo and operational efficiency”. CARE notes the substantial prepayment of 64% of external debt by infusion of funds from APSEZ (in line with its capital management philosophy). As per CARE, APSEZ the largest port developer and…

Partners with Coolbrook to leverage zero-carbon heating tech, cutting fossil fueluse in manufacturing Ahmedabad : Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, further advances towards its Net Zero goals by leveraging zero-carbon heating technology to decarbonise its cement manufacturing process. The Company has entered into a strategic partnership with Finland-based technology and engineering company ‘Coolbrook’. Ambuja will implement Coolbrook’s proprietary RotoDynamic Heater™ (RDH™) technology to significantly reduce its fossil fuel dependence and carbon emissions.…

Reaching Rural Communities with Early Cancer Detection and Prevention New Delhi– Power Finance Corporation Limited (PFC) Ltd., a Maharatna Company and a leading Non-Banking Financial Company (NBFC) in the Indian power sector, has launched a Cancer Detection and Awareness Mobile Van under its CSR initiative aimed at addressing the high prevalence of cancer in the Murshidabad region in West Bengal. The van was launched and flagged off from PFC by Smt. Parminder Chopra, CMD, PFC in the presence of Shri Rajiv…

Plant health management promoted through the project will also help farmers adapt to climate change, as rising temperatures not only cause extreme weather events but also affect pest and disease behaviour The Government of India and the Asian Development Bank (ADB) today signed a $98 million loan to improve horticulture crop farmers’ access to certified disease-free planting materials, which will boost their crops’ yield, quality, and resilience to climate impacts. The signatories to the loan agreement for the Building India’s…

In a significant step toward fostering sustainable development and combating climate change, NHPC signed a Memorandum of Understanding (MoU) with the Global Green Growth Institute (GGGI) at its Corporate Office, Faridabad on November 28th, 2024. The MoU was signed by Shri V.R. Shrivastava, Executive Director (REGH), NHPC and Shri Soumya Prasad Garnaik, Country Head of GGGI in the presence of Shri Uttam Lal, Director (Personnel), NHPC and Dr. D.K. Khare, Advisor, GGGI. Senior officials from both organizations also attended the…

Steel Authority of India Limited (SAIL), a Maharatna and India’s largest public sector steel producer, signed a Memorandum of Understanding (MoU) with John Cockerill India Limited (JCIL), the Indian arm of the global John Cockerill Group in Mumbai. This MoU aims to leverage the combined strengths of the two companies, including cutting-edge technologies, extensive industry expertise and a shared vision for innovation and sustainability. Mr Anil Kumar Tulsiani, Director (Finance), SAIL and Mr Michael Kotas, Managing Director-Metals Division, John Cockerill…

CRISIL Ratings has published a report reaffirming its strong credit ratings for Adani Group companies. Despite recent legal developments, including a US indictment followed by materially false and misleading coverage, the agency has maintained a positive outlook on the group’s companies and entities.“Adani Group has sufficient liquidity and operational cash flows to meet its debt obligations and committed capex plans over the medium term,” said the CRISIL report. The agency highlighted the group’s robust financial profile, strong business fundamentals, and…