Page 33 - Ishita Ayan Dutt

Swiggy Instamart eyeing 100 million user base in next 4-5 years

There are more than 500 brands and 5,000 products on the platform currently

Tea Board modifies order on blending imported with Indian varieties

The Tea Board, in its notification, has kept the sanctity of GI intact and allowed blending only for teas not claiming the GI mark

Tea Board may modify past order on blending, change to help tea firms, TCPL

Existing notification bars blending imported tea with GI-tagged Indian varieties; Sources said commerce ministry left it to the Board to take a reasoned call on modification

India now has 20,000 tonnes per day Oxygen capacity. 90% of it lying idle

There are 1,242 liquid medical oxygen tanks in hospitals across India with a capacity of 15,622 tonnes. This is a 104 % rise in the number of tanks and a 131% increase in storage capacity

NCLT approves resolution plan by Arcelor affiliate for Uttam Galva

Resolution amount was Rs 4,020 cr as per the plan

Bandhan Bank plans to hike exposure of secured loans to 70% by 2025

Currently, 39 per cent of the asset book is secured

Domestic steel prices inching up on rising cost, pick-up in demand

Currency depreciation of over 6% may have supported uptrend; industry players confident that prices have bottomed out

French mineral firm Imerys plans to ramp up Vizag plant production

Will increase calcium aluminates capacity by 2030 to about 50,000 tonnes from 30,000 tonnes currently in line with India's target of achieving a 300 million tonne crude steel capacity

AM/NS India eyes $250-300 mn gain from purchase of Essar group infra assets

The port and power assets are primarily captive to AM/NS' Hazira steel plant in Gujarat, will expand firm's footprint and operating efficiencies

AM/NS India receives environmental clearance for Hazira plant expansion

This increased steel manufacturing capacity represents a significant boost for the government's National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030

Endgame at McLeod Russel amid risk of losing control of last major asset

With two rival bids, the once powerful group that owns the world's largest tea producer is in danger of losing control of its last major asset

Lenders for Srei group companies accept EoI by AM Mining India

Sources indicated that issuing a fresh RFRP meant that the process was being opened to EoI participants

Amid takeover offer, McLeod Russel pins hopes on debt recast plan

CMD Khaitan says banks have been very supportive and have come to a conclusion on what debt restructuring resolution should be

ArcelorMittal Nippon Steel India joins race to buy Srei group firms

Sources close to the development said whether new participants who were not part of the original list of EOI would be allowed will have to be evaluated

Invest in India story, MSME sector must be promoted: Goyal to industry

Goyal's comments come after Union Finance Minister, Nirmala Sitharaman, recently asked India Inc what is stopping them from investing

Birla Corp to invest $1 bn over eight yrs, raise capacity to 30 mn tonnes

Current consolidated capacity is about 20 mn tonnes; mix of greenfield and brownfield projects, de-bottlenecking existing operations to help add another 10 mn tonnes

M K Shah offers to buy McLeod Russel's tea estates without hostile bid

Offer for company under debt resolution doesn't seek to exclude its promoters, the Khaitan family: Source

Followed due process to get fair valuation for amalgamation: Tata Steel CFO

In a Q&A, Koushik Chatterjee, says the decision to merge seven group firms is a priority for Tata Steel and the entities involved. He adds that rupee depreciation will influence steel prices

Tata Steel to absorb 7 group companies, simplify holding structure

'Move would also drive synergies' and increase value for shareholders, says company

M K Shah Exports approaches McLeod Russel India lenders with counter offer

Carbon Resources has offered an upfront payment of Rs 1,245 crore of an estimated outstanding bank debt of Rs 1,650 crore