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News digest: Modi flags off metro train, auto firms' EV plans, and more

Prime Minister Narendra Modi made a strong pitch for the use of public transport to save fuel

BS Web Team 

News digest: Modi flags off metro train, auto firms' EV plans, and more

Aditya Birla, Piramal-Bain, make aggressive bids for Binani Cement India’s top cement majors, including UltraTech Cement of the Group and Cement, and the stressed asset investment fund of Piramal Enterprises and Bain Capital Credit have made aggressive bids for Binani Cement, a 98.4 per cent subsidiary of BSE-listed Binani Industries. Lenders are expecting bids to come in higher than the cement company’s debt of Rs 3,682 crore, as against significant haircuts taken by banks in other Insolvency and Bankruptcy Code (IBC) cases. Read More Use public transport, save fuel costs: Modi after inaugurating Magenta Line Prime Minister Narendra Modi on Monday made a strong pitch for the use of public transport to save fuel and costs associated with the import of petroleum. He also said travelling on a Metro train should be a “prestige issue”. Modi was addressing a public meeting in this suburban town in Uttar Pradesh, bordering New Delhi, after launching a 12-km stretch of Delhi Metro’s newly built Read more Truckmakers shower bounty on transporters India’s top cement majors, including UltraTech Cement of the Group and Cement, and the stressed asset investment fund of Piramal Enterprises and Bain Capital Credit have made aggressive bids for Binani Cement, a 98.4 per cent subsidiary of BSE-listed Binani Industries.

Lenders are expecting bids to come in higher than the cement company’s debt of Rs 3,682 crore, as against significant haircuts taken by banks in other Insolvency and Bankruptcy Code (IBC) cases. Read more Revenue concerns may push back further GST cuts With revenue concerns surfacing, a reduction in goods and services tax (GST) rates for consumer durables in the 28 per cent slab may take longer than expected. With almost three months to go for the fiscal year to end, pruning the 28 per cent slab again may not happen in the next GST Council meeting in January. The reduction in rates for more than 200 items in the November meeting had raised expectations that white goods would be taken out of the 28 per cent slab. Read more Year End Specials: Automobile makers get electric shock in 2017 If 2016 was a year of bans, restrictions, and regulatory challenges for the Indian automobile industry, the current year has been no less ‘exciting’. Early in the year, when the industry had just started to recover from demonetisation, Piyush Goyal, then minister for power, said the government was assessing the possibility of having an all-electric vehicle market by 2030. Read more

First Published: Tue, December 26 2017. 04:16 IST
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