Representative image. The Indian rupee is poised to open nearly flat on Tuesday, ahead of U.S. inflation data that would help in gauging when the Federal Reserve would deliver its first interest rate cut. Non-deliverable forwards indicate rupee will likely open barely changed from 83.0025 in the previous session. The local currency on Monday was… Continue reading Rupee looks at US inflation to overcome ongoing ‘indecisiveness’
Author: Economic Times of India Online News
Change of plans: BMTC recalls tender for e-buses
Bengaluru Metropolitan Transport Corporation (BMTC) electric buses. The Bengaluru Metropolitan Transport Corporation has recalled the tender for 9 m Midi Non-AC buses and 12 m low floor AC buses after the state government permitted a reduction in bank guarantee given by service providers under gross cost control (GCC) model. The reduction in bank guarantee is… Continue reading Change of plans: BMTC recalls tender for e-buses
India’s auto retails rise 15% in Jan riding record PVsales; a tough Q4 awaits for CVs: FADA
PVs, registering a 13 % YoY growth, saw all-time high retail sales of 3.93 lakh units in January. Overall auto retail market expanded 15 % in January on an annual basis, FADA data showed on Tuesday. While all segments posted a double-digit growth, commercial vehicles saw a 0.1 % growth and the auto body has… Continue reading India’s auto retails rise 15% in Jan riding record PVsales; a tough Q4 awaits for CVs: FADA
Gensol-Matrix Gas consortium wins hydrogen electrolyser manufacturing project under PLI
Both Gensol and Matrix are promoted by common promoters and will continue to collaborate in the green hydrogen domain taking benefit of the skill sets of each entity. Gensol Engineering on Monday said its consortium with Matrix Gas has won a project for manufacturing of hydrogen electrolyser under a PLI scheme. The project has been… Continue reading Gensol-Matrix Gas consortium wins hydrogen electrolyser manufacturing project under PLI
Vedanta’s aluminium business head says demerger process to be completed in next 9-12 months
The move, he said, will be an evolutionary step for Vedanta’s aluminium business as it will help Vedanta Aluminium to chart out its own course. Vedanta is working “actively” for demerger of its key businesses, including aluminium, into separate listed companies and the process is likely to be completed in next nine to 12 months,… Continue reading Vedanta’s aluminium business head says demerger process to be completed in next 9-12 months
Chile on green hydrogen investment hunt in Europe
Hydrogen, which emits only water vapour when consumed, is touted for potential use in high-polluting heavy industries such as steel, metals, cement, and chemicals, as well as in shipping and transport. Chile is embarking on a European hunt for investors in solar, wind and green hydrogen technologies as it looks to decarbonise copper mines and… Continue reading Chile on green hydrogen investment hunt in Europe
Uttarakhand to levy ‘green cess’ on vehicles entering state
However, officials said, two-wheelers, govt vehicles, fire tenders and ambulances, army vehicles and vehicles used for farming will be exempted from the green cess. The Uttarakhand govt is all set to implement a green cess on vehicles entering the state from other states, following the model adopted by neighbouring Himachal Pradesh. As per a notification… Continue reading Uttarakhand to levy ‘green cess’ on vehicles entering state
Samvardhana Motherson Q3 FY24 PAT up 61% to INR 733 cr
The company said it has reduced debt by INR 866 crore despite M&A payouts of INR 750 cr during Q3 FY24 and it has invested about 50% of the INR 1,800 cr capex to support growth in emerging markets. New Delhi: Samvardhana Motherson International Limited (SAMIL),formerly Motherson Sumi Systems Ltd., Monday reported revenue of INR… Continue reading Samvardhana Motherson Q3 FY24 PAT up 61% to INR 733 cr
Hiroshi Yoshizane is the new MD of Bridgestone India
Hiroshi Yoshizane Bridgestone India, part of the Bridgestone Corporation, a global leader in tyres and sustainable mobility solutions, has announced that Hiroshi Yoshizane will take over as its new managing director. He will succeed Stefano Sanchini, who will be moving to the role of VP Consumer Replacement for Europe. Yoshizane moves to his new role… Continue reading Hiroshi Yoshizane is the new MD of Bridgestone India
Tata Motors joins LeadIT initiative to speed up transition to net zero
Tata Motors is embracing sustainability as a business transformation with progress in zero-emission products, renewable energy, circular economy, water neutrality and biodiversity. New Delhi: Tata Motors, a global leader in the automotive industry, has joined the Leadership Group for Industry Transition (LeadIT), a global alliance launched by the governments of Sweden and India at the… Continue reading Tata Motors joins LeadIT initiative to speed up transition to net zero