Business

Coastal Odisha major – Ferrochrome maker Balasore Alloys Ltd on Wednesday reported a net loss of Rs. 4.6 crore for the quarter ended March 2025, compared to a net profit of Rs 30 crore in the same period last year. The company has attributed the loss to volatility in the steel industry and commodity market fluctuations driven by geopolitical factors. However, for the full financial year (FY25), the company reported a net profit of Rs. 54.07 crores, marking a sharp…

In alignment with global best practices in corporate governance and in recognition of the pivotal role that internal audit plays as the third line of defence in risk management, Power Finance Corporation (PFC) has further fortified its internal audit function through a key leadership appointment. Underscoring the critical importance of the function within the organization, the Board of Directors has approved the elevation of the internal audit function to be headed by an executive one level below the Board, which…

India’s top paint maker, Asian Paints (ASPN.NS), opens new tab, has lost more market share than analysts expected to rival Grasim Industries (GRAS.NS), opens new tab in the year since billionaire Kumar Mangalam Birla’s ambitious paints venture was launched, according to Elara Securities data shared exclusively with Reuters. Asian Paints’ market share fell to 52% from 59% in the 12 months ending March 31, Elara Securities data shows, raising the pressure on the industry leader to spend more on marketing…

REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has extended financial support of Rs. 6.01 crore under its Corporate Social Responsibility (CSR) initiatives for the procurement and operation of five Mobile Medical Units (MMUs) in the state of Uttarakhand. The initiative was inaugurated by Shri Pushkar Singh Dhami, Hon’ble Chief Minister of Uttarakhand, in the presence of Shri Dhan Singh Rawat, Hon’ble Health Minister of Uttarakhand; Dr. Rajesh Kumar, Secretary, Health Department; Dr. Sunita…

Modified Scheme to Boost Startup Credit and Innovation with Enhanced Guarantee Cover. The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified the expansion of the CGSS which increases the ceiling on guarantee cover per borrower under the Scheme from Rs. 10 crore to Rs. 20 crore. The extent of guarantee cover provided has also been increased to 85% of the amount in default for loan amount up to Rs. 10 crore and…

The Cabinet Committee on Economic Affairs (CCEA) in the meeting held on 07.05.2025, chaired by the Prime Minister Shri Narendra Modi, has accorded its approval for the Revised SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) Policy for Coal Allocation to Power Sector. The Revised SHAKTI Policy adds to the series of coal sector reforms being undertaken by the Government. With the introduction of SHAKTI Policy in 2017, there was a paradigm shift of coal allocation mechanism from…

Banks advised to expedite the resolution process by minimising delays in filing CIRP applications Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), chaired a review meeting today to monitor the progress of Public Sector Banks in clearing pending cases for admission at National Company Law Tribunal (NCLT). The review entailed a follow up on important issues for improving the effectiveness of insolvency resolution process. The meeting was attended by senior officials of Department of Financial Services, the Ministry of…

SGS has awarded the World Health Organisation Good Distribution Practices (GDP) certificate to Air India Limited, India’s leading global airline. This certification is awarded for the cargo business of Air India and recognises excellence in handling, storage and transportation of time and temperature -sensitive pharmaceutical shipments at Air India sites across several domestic as well as international cargo hubs. Among the Certified domestic locations include Indore, Ahmedabad, Mumbai, Bengaluru, Hyderabad, Goa, New Delhi and Chennai. Internationally, the certification spans key…

GLEX 2025 to Spotlight India’s Expanding Footprint in Global Space Leadership India Set to Welcome 1800+ Global Delegates at Yashobhoomi, Delhi for the Space Conference New Delhi  — India is set to host the 12th edition of the Global Space Exploration Conference (GLEX 2025) from 7th to 9th May 2025 in New Delhi. The three-day global summit, themed “Reaching New Worlds: A Space Exploration Renaissance,” will be inaugurated by the Dr. Jitendra Singh, Union Minister of State (Independent Charge) for…

Move aligns with NEP 2020; will offer flagship MBA (International Business) and promote trade research IIFT GIFT City centre to strengthen India’s trade education ecosystem and support export-led growth The Ministry of Education, Government of India, has approved the establishment of an off-campus centre of the Indian Institute of Foreign Trade (IIFT), New Delhi, at GIFT City, Gandhinagar, Gujarat. The centre will be set up in accordance with the UGC (Institutions Deemed to be Universities) Regulations, 2023. The approval under…