To scrutinise rationale for recast, structural details, plans for each unit

Anil Agarwal

In an interview, Agarwal said the response to the steel and iron business will help the company reduce debt

Move comes a week after IHC sold its stake in Adani Green and Adani Transmission

Adani, Adani Group

A corporate presentation notes the "consistent shareholder returns" from more than $11 billion in dividends over the past decade

Vedanta

Stocks to Watch on Wednesday, October 4, 2023: Bajaj Finserv's insurance arm, Bajaj Allianz General Insurance has received a show cause notice alleging a tax demand of Rs 1,010.05 crore

image

Gross GST collection rose 10 per cent to over Rs 1.62 lakh crore in September, crossing the Rs 1.6 lakh crore mark for the fourth time during current financial year.
Gross GST revenue collected last month was Rs 1,62,712 crore. Of this, Central GST was Rs 29,818 crore, State GST was Rs 37,657 crore, Integrated GST was Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess was Rs 11,613 crore (including Rs 881 crore collected on import of goods).
The revenue in September 2023 was 10 per cent higher than the GST revenue of Rs 1.47 lakh crore in the same month last year, the finance ministry said in a statement.
"During the month, revenues from domestic transactions (including import of services) are 14 per cent higher than the revenues from these sources during the same month last year. It is for the fourth time that gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24," it said.

GSTGST

Agri-tech platform Arya.ag is expecting to more than double its profit and grow the topline by around 70 per cent to Rs 500 crore this fiscal as it focuses more on sales along with expansion of its customer base.
Arya.ag claims to be the largest and the only profitable agri-tech platform focused on foodgrain storage and sale.
The Noida-based startup founded in 2013 by Prasanna Rao, Anand Chandra and Sathyanathan Devarajan and backed by funds like Lightrock, Accion Quona Capital, Asia Impact Fund and Omnivore Partners, has a revenue of Rs 298 crore, from which it earned Rs 16 crore of net income.
These funds collectively own 60 per cent of the company with a combined investment of USD 65 million. The company did not offer a break-up of either their individual holding or their investment.
It also has debt investors like Rabo Bank, HDFC Bank and ICICI Bank, from whom it has borrowed Rs 980 crore so far.
"This year we see the numbers hitting Rs 500 crore in revenue and the net profit

Corporate profit

The India-US relationship is at an all-time high and the two nations have moved to a position where they see each other as very desirable, optimal and comfortable partners, External Affairs Minister S Jaishankar has said, stressing that like the Chandrayaan, bilateral ties will go to the moon and maybe even beyond.
Jaishankar made the remarks while addressing several hundred Indian-Americans who had gathered at the India House from various parts of the US to attend the 'Celebrating Colours of Friendship' event organised by the Embassy of India here on Saturday.
There is one clear message today that our relationship is at an all-time high. But as they say in America, you ain't seen anything yet. So, we are going to take this relationship to a different level, to a different place, he said at the largest-ever gathering of Indian-Americans at the India House.
"In this changing world, I would say today that India and the US have moved to a position where we see each other as very ...

S Jaishankar, Blinken

India has allowed Nepal to sell electricity generated through two hydropower projects in its real-time energy market starting Saturday midnight, according to the Nepal Electricity Authority (NEA).
It is for the first time that India granted project-wise approval ensuring that Nepal could sell hydroelectricity in India's Real-Time Market (RTM).
The Central Electricity Authority of India has allowed the trading of 44 MW of electricity generated from the 19.4 MW Lower Modi and 24.25 MW Kabeli B-1 hydropower projects in the real-time market in the first phase, according to Suresh Bahadur Bhattarai, the spokesperson at the NEA.
Bhattarai said approval had been received for the sale of electricity from two projects in both the day-ahead and the real-time markets.
Earlier, we had to wait for a day for the import and export of electricity, said Bhattarai.
"Now we can trade by bidding just one hour and fifteen minutes before the sale. Now we can buy or sell power in case of a sudden shutdo

New electricity tariff rules

Creditors have recovered around Rs 3 trillion through the Insolvency and Bankruptcy Code (IBC), and the recoveries stood at more than Rs 51,000 crore last year

gavel, Insolvency, IBC, firms

What the data suggests, however, is that India's numbers are unsustainable. They're driven by debt-fueled household consumption and government investment

Rupee, Indian Rupee, Indian currency

Bidhuri may be a small fry in the larger calculus of the party. Yet, in his blundering and uncultured way, he was voicing in Parliament what has already been normalised on the streets

Bidhuri

Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software

jobs, IT jobs, IT industry, AI

Indri whisky is the first Indian whisky to win this renowned award

whisky

As the festival season approaches, followed by elections, state and national, there will be pressure on liquidity since cash with the public will rise

Banks credit growth

Partnership will enable Finnish firms to use Indian company's innovation network

HCLTech, HCL

5 key technical skills considered for employment, says respondents in annual survey

Cybercrime

Alembic Pharmaceuticals on Wednesday said flash floods in the Teesta River has led to disruption in operations at its Sikkim-based manufacturing plant.
"We would like to inform that due to flash floods in river Teesta because of cloud burst, water entered our manufacturing facility at Namthang, South Sikkim, and hence manufacturing operations stand disrupted with effect from October 4," the drug firm said in a regulatory filing.
There is no loss or harm caused to any personnel, it said, adding that the assessment of loss will take a while.
All assets of the company are adequately insured and necessary intimations have been given to insurance companies, it added.
A sudden cloud burst over Lhonak Lake in North Sikkim has resulted in flash floods in the Teesta in Lachen valley, which was compounded by the release of water from a dam.
Shares of Alembic Pharma were trading 1.31 per cent down at Rs 780.50 apiece on the BSE.

Pharma, medicine, pharmaceutics

Brent crude oil futures were down 58 cents, or 0.64%, to $90.34 a barrel at 0841 GMT, while U.S. West Texas Intermediate crude (WTI) fell 66 cents, or 0.74%, to $88.57 per barrel

Exxon Mobil, Chevron reap over $31 billion profit from energy crunch

oil, fossil fuel, opec, crude oil, energy

Delhi Chief Minister Arvind Kejriwal on Wednesday visited the Okhla landfill site and said the work to process and remove waste from the massive dump was running behind the projected target.
Interacting with reporters, the chief minister also said that the Delhi government is planning to hire the MCD "as an agency" to carry out mechanical sweeping and cleaning of roads falling under the jurisdiction of the PWD and the civic body.
The chief minister's visit to the Okhla landfill site comes days after an inspection of work being done at the Bhalswa landfill site.
There were 45 lakh tonnes of waste in this mountain of garbage at Okhla. Work began last November to process and remove it gradually, and the target was to remove 30 lakh tonnes by May 2024, Kejriwal told reporters.
"But, this work is running slightly behind the projected target. Till date, about 18 lakh tonnes had to be removed, but (only) 12 lakh tonnes has been removed," he said.
There are multiple reasons for this. But 

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HCLTech, Business Finland sign agreement for technology collaboration

40% of cyber security teams in Indian organisations understaffed: Report

Manufacturing disrupted at Sikkim plant due to flash floods: Alembic Pharma

Crude oil falls $1 on demand fears, Saudi confirms cuts to year-end

Waste removal work at Okhla landfill running behind target: CM Kejriwal

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