rupee, loan, indian rupee

Insecticides India Ltd (IIL) Managing Director Rajesh Aggarwal on Sunday said the company will invest Rs 150 crore in the next two years on capacity expansion in Rajasthan and Gujarat, and also launch new herbicide and insecticide products before 'Navratri'.
Speaking to PTI, Aggarwal said the company will invest about Rs 100 crore for setting up of a new plant at Sotanala in Behror district of Rajasthan, in the next two years.
"Last week, we acquired 15-acre plant at Sotanala in Behror district. Lot of sheds are already there and we plan to manufacture agro-chemicals. We will invest about Rs 100 crore investment here in the next two years," he said.
The plant will be implemented in phases and the work might commence by year-end, he said adding this is a second plant in Rajasthan and the other one is located at Chopanki which is up and functioning.
Aggarwal further said the company will invest Rs 25 crore in the next fiscal for expansion of its SEZ plant located in Dahej, Gujarat an

q1 results, earnings, companies, india inc, corporate

Insecticides (India) Ltd on Thursday posted a 24 per cent drop in its consolidated net profit to Rs 29.14 crore during the first quarter of 2023-24 on higher expenses.
Net profit stood at Rs 38.30 crore in the same quarter of the previous financial year, according to a regulatory filing.
Total consolidated income increased to Rs 639.95 crore during the April-June quarter of the 2023-24 fiscal from Rs 560.68 crore in the year-ago period.
However, the company's expenses were higher at Rs 604.35 crore as against Rs 510.26 crore in the said period.
The company said it incorporated a wholly-owned subsidiary IIL Overseas DMCC (Dubai) on May 1 this year to carry out the business of trading of insecticides, agricultural and veterinary products.
Shares of the company settled lower by 0.71 per cent at Rs 463.45 apiece on BSE on Thursday.

Supreme Court

The Supreme Court also asked the government to place on record two reports on the use of harmful chemicals and pesticides in India

Medicines, Pharma

The government on Friday said it is planning to shut down the operation of state-owned Hindustan Insecticides Ltd's (HIL) two plants located in Kerala and Punjab due to losses incurred for the last several years.
Minister of State for Chemicals and Fertilisers Bhagwanth Khuba, in his written reply to the Lok Sabha, said: "Yes Sir", when asked if the government proposes to close down the operation of Kerala and Punjab plants of HIL.
He also said that the government is aware of the reports that the salaries of employees have not been disbursed for the last five months.
To address this, the government has proposed the closure of the two units of HIL i.e Bathinda in Punjab and Udyogamandal in Kerala, he said.
"Accordingly, a proposal seeking funds from the government has been made to cater to meet the expenditure arising on account of VRS/VSS and payment of balance dues of the employees of both units proposed for closure," he added.
Khuba further said the two plants in Kerala and Punj

budget

The Union budget to be presented by Finance Minister Nirmala Sitharaman on February 1 should look forward to allocating funds on research and development (R&D), said a top official of Insecticides India Limited.

agriculture

For FY23, the management expects the top line to grow by a double digit, mainly driven by expansion of facilities, addition of new generation products and significant number of product registrations.

Insecticides (India) to set up manufacturing unit in UP

The board of directors of the agrochemicals company is scheduled to meet on March 30, to consider share buyback proposal.

growth, profit, loss, revenue, share, value, stock, economy, returns, investment

Insecticides India Ltd on Friday reported a 33 per cent decline in its net profit at Rs 24.1 crore for the quarter ended June.

Locusts

In Rajasthan, which has been worst hit, officials say 90,000 hectares in 20 districts have been affected; standing crop in 4,000 hectares in Sri Ganganagar, 100 hectares in Nagaur has been destroyed

locust swarm attack

The advisory comes in the backdrop of severe locust attacks being reported from many parts of the country, including Rajasthan, Madhya Pradesh, Gujarat, and Maharashtra

farmer

The listed agrochemicals firm will also invest Rs 100 crore in brownfield projects

It had clocked a top line of Rs 988 cr in FY16 against Rs 964 cr during the preceding financial year

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

Adani, Adani Group

Adani Group on Thursday bagged two contracts worth Rs 13,888 crore from a state-owned discom to install smart meters.
A total of six tenders were awarded by the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to install smart meters, of which two have been bagged by the Adani Group, according to an official communiqu from the discom seen by PTI.
The diversified group, which has a sizeable presence in the power sector and had recently won a Rs 1,000 crore contract to install smart meters in the area serviced by BEST Undertaking in Mumbai, will act as an advanced metering infrastructure service provider for smart prepaid metering in MSEDCL, it said.
The two zones awarded to Adani include Bhandup, Kalyan and Konkan having 63.44 lakh meters, and Baramati and Pune having 52.45 lakh meters, it said.
Letter of Awards have been issued to the successful firms, as per the communiqu.
Officials from Adani Group were not immediately available for comment.
The group's transmiss

Closing Bell on Thursday, September 21: The broad-based selling was led by public sector banks with the Nifty PSU Bank index sliding 2.3 per cent

bear market, sensex, nifty, loss, growth, investment

Tensions have been high since Canadian PM Trudeau on Monday alleged that the Indian government was behind the fatal shooting of Hardeep Singh Nijjar

visa, Canada

Catch all the latest updates from across the globe here

Manipur

Canada said it was expelling a top Indian diplomat Monday as it investigates what Prime Minister Justin Trudeau called credible allegations that India's government may have had links to the assassination in Canada of a Sikh activist.
Trudeau said in Parliament that Canadian intelligence agencies have been looking into the allegations after Sikh leader Hardeep Singh Nijjar, a strong supporter of an independent Sikh homeland known as Khalistan, was gunned down on June 18 outside a Sikh cultural centre in Surrey, British Columbia.
Trudeau told Parliament that he brought up the slaying with Indian Prime Minister Narendra Modi at the G-20 last week, that he told Modi that any Indian government involvement would be unacceptable and that he asked for cooperation in the investigation.
Canadian Foreign Minister Mlanie Joly said the head of Indian intelligence in Canada has been expelled as a consequence. "If proven true this would be a great violation of our sovereignty and of the most basic

Hardeep Singh Nijjar

No injury or loss of life was reported in the incident, Srinagar Police informed further, adding that the terrorist fled the spot after opening fire at the CRPF vehicle

Gun shooting, mass shooting

Delhi government has targeted to raise the number of registered construction workers in the city to 15 lakh this year and increase spending on various welfare schemes for them by 20 times, officials said on Monday.
The move comes in the wake of Chief Minister Arvind Kejriwal earlier this year expressing dissatisfaction over less number of registration of workers and emphasising to increase it further.
As per official data, the number of registered workers was 13 lakh by end of 2022-23.
The Delhi government will also raise spending on welfare schemes meant for construction workers to Rs 246 crore this year, up from 12.66 crore last year, officials said.
Last year over 4,500 applications were received from registered construction workers for various welfare schemes run by Delhi Building and Other Construction Workers Welfare Board.
Out of which, just over 2,000 were processed for benefits of different schemes with an expenditure of Rs 12.66 crore, a labour department officer said.


Highway labourer at par with construction worker after new wage norms

Nijjar, who was wanted in India, was gunned down outside a gurdwara, in a parking area in Canada's Surrey, BC on June 18

Justin Trudeau

Secretary of State Antony Blinken met Monday with China's vice president on the sidelines of the UN General Assembly as the Biden administration and Beijing step up high-level contacts ahead of what could be a leader-level summit this fall.
Blinken and Vice President Han Zheng held talks Monday at the Chinese mission to the United Nations. Their discussion came as China's Foreign Minister Wang Yi was in Moscow meeting Russian Foreign Minister Sergey Lavrov after wrapping up two days of talks with US national security adviser Jake Sullivan in Malta.
The quick succession of US-China contacts is fueling speculation that President Joe Biden may meet his Chinese counterpart Xi Jinping in November at an Asia-Pacific Economic conference in San Francisco.
"I think it's a good thing that we have this opportunity to build on the recent high-level engagements that our countries have had to make sure that we're maintaining open communications and demonstrate that we are responsibly managing the

Blinken, Antony Blinken

The fiscal burden of states will increase over time

pensions, funds, retirement, investments, investors, savings

The government introduced the Women's Reservation Bill in the Parliament almost three decades after it was first drafted

Parliament

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

TRAI

Prime Minister Narendra Modi begins Whatsapp Channel following conclusion of the first day in the new parliament building

PM Modi on Whatsapp Channels (Photo: Whatsapp)

Canada identifies expelled Indian diplomat as RAW station chief in Ottawa, sources say Canadian diplomat expelled from Delhi is intelligence officer

Prime Minister Narendra Modi with Canadian Prime Minister Justin Trudeau

Here is the best of Business Standard's opinion pieces for today

MSMEs

More than 10 people were injured when Manipur security forces fired tear gas shells on protesters for trying to storm police stations and court arrest demanding the unconditional release of the five arrested youths on Thursday.
As a precautionary measure, the state government cancelled curfew relaxations in the twin districts of Imphal from 5pm, officials said.
Responding to a call by six local clubs and Meira Paibis demanding the release of the five village volunteers, hundreds of protesters holding placards and shouting slogans tried to enter the Porompat police station in Imphal East and Singjamei police station and Kwakeithel police outpost in Imphal West district.
However, police and RAF personnel deployed at strategic positions fired several rounds of tear gas shells to disperse the crowd.
A protester, identified as Th Bimola at Porompat said, "We were left with no option but to court arrest as the government failed to release the five village volunteers. If such village ...

The Information and Broadcasting Ministry on Thursday advised TV news channels to refrain from giving platform to those belonging to proscribed organisations or facing charges of terrorism and serious crimes.
In an advisory to all private satellite TV channels, the ministry said it has come to its notice that "a person" in a foreign country who faces serious cases of crime including terrorism was invited for a discussion on a television channel.
During the discussion, the person made several remarks detrimental to the sovereignty and integrity of India, its security and friendly relations with a foreign state, the ministry said, without naming the person or the news channel.
The remarks of the person also had the potential of disturbing public order in the country, the ministry added.
While the government upholds media freedom and respects its rights under the Constitution, the content telecast by the TV channels must adhere to the provisions of the Cable Television Networks ...

TRP, tv news channels, viewership, media, entertainment, OTT

In a step towards enhancing last-mile connectivity with public transportation, Delhi govt has invited proposals for the deployment of 3,000 high-speed e-scooters, low-speed e-scooters, and e-cycles

Fire-safety norms for Li-ion battery could push up e-scooter prices by 10%

electric scooters, e-scooters, EV, Electric vehicles

DLF's rental arm DCCDL has raised Rs 1,100 crore through issuance of non-convertible debentures on a private placement basis.
In a regulatory filing on Thursday, DLF informed that the DLF Cyber City Developers Ltd (DCCDL) board has approved the allotment of debentures.
DCCDL said that the securities allotment committee of the Board of Directors has approved the allotment of 1,10,000 senior, listed, rated, secured, redeemable, transferable, rupee-denominated NCDs (Non Convertible Debentures) of the face value of 1 lakh each on a private placement basis to eligible investor(s).
The size of the issue is Rs 1,100 crore. These NCDs will be listed on the BSE. The coupon rate is 8.25 per cent per annum. The maturity is August 17, 2033.
DCCDL is a joint venture between DLF and Singapore sovereign wealth fund GIC.
DLF holds a 66.67 per cent stake while the GIC has a 33.33 per cent stake in the DCCDL.
DLF holds the bulk of its rental assets (offices and shopping malls) through DCCDL.  DCCD

Heatmap

Insecticides (India)

Insecticides India to invest Rs 150 cr in next 2 yrs on capacity expansion

Insecticides India Q1FY24 profit falls 24% on higher expenses

Civil society, pesticide industry present contrasting picture on ban order

Govt plans to shut down 2 plants of Hindustan Insecticides; cites losses

Budget should allocate funds on R&D to develop pesticides, organic manure

Insecticides India up 3% in weak market; hits 52-wk high on healthy outlook

Insecticides board to mull share buyback on March 30; stock surges 11%

Insecticides reports 33% decline in June-quarter profit to Rs 24 crore

Locusts reach Gondia in Maharashtra, Delhi mulls plastic cover for saplings

Locust attack: Delhi govt issues advisory, Haryana sounds high alert

Insecticides (India) to invest Rs 15 cr in export oriented unit in Gujarat

Insecticides (India) to set up manufacturing unit in UP