Page 19 - Industry News

Sugar shares rally on hopes of higher ethanol blend amid West Asia crisis

Sugar stocks surged on expectations that rising crude oil prices amid the West Asia crisis may prompt the Centre to raise ethanol prices and increase the blending mandate from 20 per cent

Tamil Nadu unveils Shipbuilding Policy 2026 to boost green tech

In a definitive push toward environmental stewardship in the maritime sector, the Tamil Nadu government has placed green shipbuilding and circular economy practices at the forefront of its newly unveiled Shipbuilding Policy 2026. The policy aims to establish the state as a global leader in sustainable maritime technology, focusing on zero-emission vessels and world-class green recycling facilities. Released by Tamil Nadu Chief Minister M K Stalin on Wednesday, the policy provides specialised incentives for the construction of "green vessels," including those powered by green hydrogen, ammonia, and electric propulsion. These initiatives are designed to align with India's Maritime Amrit Kaal Vision 2047, which targets a significant reduction in carbon emissions across the shipping fleet. A key highlight of the policy is the promotion of Green Ship Recycling clusters. To discourage hazardous dismantling practices, the state has announced a 15 per cent capital subsidy for the first fiv

Air India to add more flights to Toronto, Frankfurt, Paris amid high demand

Air India on Wednesday announced the deployment of additional flights to Toronto, Frankfurt and Paris (Charles de Gaulle) to cater to high demand amid the ongoing situation in West Asia. Air India's low-cost subsidiary Air India Express also announced that its air services to Muscat will remain operational, besides mounting additional flights between Muscat and Delhi and Mumbai. As part of this, the Tata group-owned airline will operate three additional flights between Delhi and Toronto from March 5 -11, besides adding three flights between Delhi and Frankfurt, and one flight between Delhi and Paris (Charles de Gaulle) from March 7 -10 March, Air India said. These additional services will provide more flight options to travellers on these select routes with convenient connections beyond Delhi to destinations across Air India's vast domestic India and Southeast Asia networks. Air India also said that it will continue to "closely assess" the situation and will add flights on these ..

Oman Air Cargo to add India, Europe network capacity in coming days

Oman Air Cargo, a key cargo carrier in the Middle East, has announced to add network capacity to various destinations, including India, soon. The cargo player has suspended flights to and from Bahrain, Jordan, Kuwait, Qatar, and Dubai due to ongoing regional airspace closures. "Extra belly hold capacity will also be added to our network over the coming days through new flights between Oman, the United Kingdom, Europe, India, and Asia," the company said in a statement. "Flights across the rest of our network may be delayed as a result of longer flight paths. We are working to ensure that all affected cargo is rescheduled once we have more clarity on airspace restrictions," it added. "All customers are being contacted to confirm the status of their cargo, and we will continue to provide regular operational updates. The safety of our staff remains our priority, and we are working closely with the relevant authorities and airport partners to ensure that all necessary precautions are in

IIFCL plans to raise $1.6 billion for infra push in India: MD Rohit Rishi

India Infrastructure Finance Company Ltd (IIFCL) plans to raise USD 1.6 billion (about Rs 14,500 crore) from multilateral agencies and other overseas investors as part of resource mobilisation strategy to support infrastructure development across the country. "Our strategy is to build a diversified and cost-effective long-term funding base aligned with infrastructure financing needs. In addition to domestic resources, we have mobilised resources from leading multilaterals such as ADB, KfW, JICA, EIB, and the World Bank," IIFCL's newly-appointed MD Rohit Rishi told PTI. Until December, he said, IIFCL raised JPY 26 billion (around Rs 1,520 crore) from SMBC of Japan as External Commercial Borrowing at the reasonably low cost reflects confidence of lenders in India's growth story, particularly the sustained expansion of its infrastructure. Going forward, he said, "We are exploring a USD 600 million blended finance facility and our debut Green Bond issuance. We are also in the process of

Wipro set to lose $500-million Estee Lauder contract to Accenture

The shift of Estee Lauder's $500-million contract to Accenture marks a setback for Wipro as CEO Srini Palia pushes large efficiency-led deals amid renewed focus on discretionary spending

India, Canada sign 5-year MoU to boost agri-food research cooperation

India and Canada strengthened bilateral cooperation in the agri-food sector with the signing of a five-year Memorandum of Understanding between the National Institute of Food Technology Entrepreneurship and Management-Kundli (NIFTEM-K) and the University of Saskatchewan (USask). The agreement was signed by NIFTEM-K Director Harinder Singh Oberoi and USask Vice President (Research) Baljit Singh in the presence of Saskatchewan Premier Scott Moe and senior officials of India's Ministry of Food Processing Industries, according an official statement. The partnership follows the announcement by the Prime Ministers of both countries of a jointly supported Centre of Excellence in Pulse Protein, to be led by NIFTEM-K and USask. The MoU provides for joint research projects, online teaching and training programmes, faculty and student exchanges, integrated degree programmes in Food Processing Technology, and industry-oriented short courses. It also envisages collaborative funding proposals, ..

Telecom firms' gross revenue crosses ₹1 trillion in December quarter: Trai

The cumulative gross revenue of telecom service providers crossed the Rs 1 lakh crore mark in the December 2025 quarter to Rs 1.02 lakh crore, according to a report by sector regulator Trai, published on Tuesday. The gross revenue of telecom service providers (TSPs) was Rs 96,390 crore a year ago and Rs 99,828 crore in the September 2025 quarter. The adjusted gross revenue (AGR) grew by 8.13 per cent on a year-over-year basis to Rs 84,270 crore in the December 2025 quarter, from Rs 77,934 crore in the same period a year ago. The adjusted gross revenue (AGR) is derived from the sale of telecom services and government levies, including licence fees and spectrum usage charges. Access service providers, which are players like Reliance Jio, Bharti Airtel, Vodafone Idea, etc., accounted for 84.54 per cent of total AGR in the December 2025 quarter. The AGR data published till the September 2025 quarter by the Telecom Regulatory Authority of India (Trai) in the performance indicator repor

Brigade Group leased out 156K sqft to 2 global firms at Brigade Twin Towers

Brigade Group has leased 156,000 sq ft at Brigade Twin Towers to MANN+HUMMEL and Labcorp, signalling sustained demand for Grade A offices and strengthening the project's commercial appeal

10th IIMCAA awards: Soumya Pillai bags Journalist of the Year award

The Indian Institute of Mass Communication Alumni Association (IIMCAA) announced the winners of the 10th IIMCAA Awards on Monday, with Soumya Pillai selected as the 'Journalist of the Year'. The announcement came at the Association's 14th annual Connections Meet in Delhi, with the awards honouring achievements across journalism, advertising, public relations and public service. Among the prominent winners was Laxmi Devi Aere, a PTI senior correspondent, winning the 'Agriculture Reporter of the Year' title, while Medha Yadav received the 'Reporter of the Year (Broadcasting)' award. Other jury awardees included Safeena Wani (reporter of the year - publishing), Mohammad Asad (producer of the year - broadcasting), Saurav Kumar Borah, Alpesh Arvind Karkare, Tanzil Asif, Hasleen Kaur and Panchanan Mishra, with special mentions for Gargy Satapathy, Nantha Kishore G K and Garima Singh. Awardees received cash prizes ranging from Rs 10,000 to Rs 1.5 lakh along with trophies and certificates.

War risk insurance costs likely to climb amid West Asia crisis: Experts

Freight carriers will have to pay an additional premium to restore war cover for shipments passing through high-risk areas amid the escalating crisis in West Asia, experts said. Vessels of the Shipping Corporation of India (SCI) are also involved in the movement of crude oil and LNG, especially through areas around the Red Sea, and would have to pay an additional premium for war cover to ensure risk cover. "It is reasonable to expect that Indian oil companies will have cargo exposures and SCI will have hull exposure in this region. Oil prices are also likely to face upward pressure in the near term," Policybazaar Head (marine insurance) Balasundaram R said. According to Prudent Insurance Brokers Head (marine specialities), Gaurav Agarwal, notice of cancellation of war cover has been issued on hull on March 1, and a similar cancellation on cargo is expected soon. After this cancellation, Agarwal said, the insurers may increase premiums on hull and cargo. "If the conflict becomes a

Power ministry to set up selection committee to look for new NTPC chief

The power ministry has decided to set up a search-cum-selection committee to look for the head of state-owned electricity generator NTPC, as government headhunter PESB failed to identify a suitable candidate. The Public Enterprise Selection Board (PESB), under the Department of Personnel and Training (DoPT), which is responsible for hiring candidates for top management posts of central public sector enterprises (CPSES), interviewed a dozen of candidates for the post of CMD of NTPC. The incumbent, Gurdeep Singh, was to superannuate on July 31, 2025, but his service as NTPC's CMD was extended till August 1, 2026, in the absence of a successor. The power ministry, in a notice issued on February 28, said the appointment to the post of Chairman and Managing Director, NTPC Limited, will be done through a "Search-cum-selection Committee". Candidates can apply for the post on or before March 28, 2026, it said. The search-cum-selection committee route is taken when PESB fails to find a ...

Power Ministry extends deadline for Draft NEP 2026 feedback till Mar 19

The Ministry of Power has extended the timeline seeking stakeholders' comments on the Draft National Electricity Policy 2026 by one month till March 19. The timeline has been extended on the request of several stakeholders who have sought additional time to examine the provisions of the draft electricity policy, the Ministry said in a notification dated February 25. Earlier, the last date to submit comments and suggestions was February 19. The National Electricity Policy (NEP) 2026 aims to address high losses and debt of discoms, non-cost-reflective tariffs, and high cross-subsidisation. A non-cost-reflective tariff is a pricing structure in which the rate charged to a particular consumer category is below the utility's average cost of generating, transmitting, and distributing electricity to that category. While cross-subsidisation is a pricing mechanism in which certain consumer groups (industrial, commercial, and higher-income domestic users) are charged tariffs above the cost

German firm Nemetschek appoints Alok Sharma as MD, VP of India biz

Germany-based Nemetschek Group, which provides software solutions for the construction sector, has appointed Alok Sharma as Managing Director and Vice President, India. The company provides software solutions for architecture, engineering, construction and operations (AEC/O) and media industries. In a statement, Nemetschek Group said Alok will anchor the company's India growth roadmap. Pete Nicholson, Senior Vice President, Nemetschek Group, said, "India represents one of the most dynamic construction markets globally. As infrastructure investments scale and digital mandates gather pace, strengthening local leadership is central to our long-term growth strategy." Founded in 1963, the Nemetschek Group, which has been listed in key German stock indices MDAX and TecDAX since 1999, achieved a revenue of EUR 1,191.2 million and an EBITDA of EUR 371.1 million in 2025, according to preliminary, unaudited figures.

M&A activity in power sector gathers pace as PPAs drive up valuations

Accelerating power demand, revival of long-term PPAs, stronger plant load factors and attractive valuations are triggering a fresh wave of M&A activity across thermal and renewable assets

West Asia crisis: IndiGo to operate 10 relief flights from Jeddah on Tue

The Ministry of Civil Aviation (MoCA) said on X on Monday night that it continued to closely monitor the situation in the West Asia region to facilitate relief for passengers

PM inaugurates ₹3,600 cr Powergrid projects to boost Rajasthan solar flow

Powergrid's new transmission systems will evacuate renewable power from Rajasthan's major solar zones, including Bhadla, strengthening national green energy infrastructure

Strong demand, low credit costs to keep gold-loan NBFC profits healthy

Crisil Ratings expects gold-loan NBFCs to maintain strong profitability as rising demand, better operating leverage and benign credit costs support returns over the next two fiscals

Lemon Tree eyes overseas expansion in next 5 years as outbound travel booms

India is expected to become ‌the world's fourth-largest outbound tourism market by 2035, behind the U.S., China and Germany, rising from 10th place, Capital Economics said last year

Rajasthan govt streamlines ODOP, MSME approvals to ease doing business

Rajasthan streamlines ODOP and MSME approvals, delegates powers to district GMs and shifts fully online to speed up clearances and boost ease of doing business