Indigo

Business Standard brings you the top headlines at this hour

Sitharaman, Choo Kyung-ho

Finance minister Nirmala Sitharaman on Thursday highlighted greater opportunities in India for investment in manufacturing, food processing and marine resources in a bilateral meeting with her South Korean counterpart.
The minister met Choo Kyung-ho, Deputy PM & Minister of Economy and Finance, South Korea, on the sidelines of 56th ADB Annual Meeting here, and also invited Korea Investment Corporation (KIC) and other investors to take forward investment in India's infrastructure sector.
During the meeting, Sitharaman also highlighted India's enabling policy framework for e-vehicles and green hydrogen sectors for further attracting investment in India with the engagement of the Korean government.
"FM Smt. @nsitharaman emphasised on greater opportunities in India for #investments in #manufacturing, #RenewableEnergy, #infrastructure, #pharmaceuticals, #FoodProcessing, including #marine resources, among other sectors," a finance ministry tweet said.
Sitharaman further informed her ...

Manoj Sinha

Jammu and Kashmir Lieutenant Governor Manoj Sinha has said that J&K is emerging as a vibrant, fastest growing and most attractive investment destination and renowned companies from across the country and abroad are looking forward to investing in the Union Territory.
Sinha shared key initiatives of J&K administration to facilitate the MSMEs in the Union Territory at the two-day Laghu Udyog Bharati's North Zone MSME conclave and investors' meet here.
"Today, the world is recognizing the all-round transformation taking place in Jammu and Kashmir. Renowned companies from across the country and abroad are looking forward to investing here", he said.
Speaking at the same event, Union minister Arjun Ram Meghwal asked potential investors to take advantage of the business-friendly environment developed for the industries.
"After abrogation of Article 370, a lot of people (investors) came here. In this investors' summit, several have shown their interests. It will create a good ...

Prime Minister Narendra Modi

Prime Minister Narendra Modi on Monday urged global investors to explore investment opportunities in the country's energy sector, saying India is the most opportune place at present.
Modi in his inaugural address at the India Energy Week 2023 said the Budget (for 2023-34) has provided Rs 10 lakh crore for capital expenditure, which will give a boost to green hydrogen, solar power and road sectors.
"I ask you to explore all opportunities connected with India's energy sector. India is the most opportune place for investment today," he said at the India Energy Week, which is being attended by several ministers, corporate leaders and experts from different nations.
The Prime Minister also recalled several initiatives taken by the government to promote green energy and make India net zero by 2070.
The budget 2023-24 has provided Rs 35,000 crore to the petroleum and natural gas ministry for achieving the net-zero target.
India Energy Week 2023 is the first major event of G20 under India

us dollar

Market potential and investment opportunities in space cooling will be $1.5 trn by 2040 in India. Therefore, it would be imperative for the govt to create an adequate enabling investment framework

Nitin Gadkari

Promoting India-Australian bilateral trade and investments, Union Minister Nitin Gadkari emphasised on the investing opportunities in India including the transport infrastructure sector

Union Finance Minister Nirmala Sitharaman

India's digital revolution offered investment opportunities for the United States, the South Asian country's finance minister said on Wednesday

Temasek

Top executives of Temasek, which has doubled its India portfolio in the past five years to $16 billion, said the fund made several successful exits from India in FY 22

Raamdeo Agrawal on investment opportunities after market correction

Business Standard's Puneet Wadhwa speaks to Raamdeo Agrawal of Motilal Oswal Financial Services, to know his take on geopolitical developments and investment opportunities in a corrected market

Jair Bolsonaro, Brazil

Brazil offers investors around the globe "unique opportunities", thanks to its abundance of resources and strong legal framework, President Jair Bolsonaro said

Chile, flag, India

The Ministry of External Affairs (MEA), in a statement, said both sides discussed the future trajectory of their wide-ranging engagements in the meeting

In making several weak points in the column, "Why India won't grow at 8% plus" (June 9), Shankar Acharya has overlooked two facts: India is now by far the biggest market opportunity for every major manufacturer in the world, especially manufacturers in India; and that it offers by far the best repayment potential for investments.In a world where the developed countries are flush with funds and are looking for safe investment opportunities with the expectation of some positive return, the above two facts make 8-10 per cent gross domestic product growth a near-certainty in India, given its demographics and provided there is reasonably good governance.In the next 20 years that window of opportunity will shift slowly to those African countries or other less developed nations that get their governance right.Alok Sarkar   KolkataLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201E-mail: letters@bs

Air India on Friday said it has completed the acquisition of its first A350-900 aircraft by way of a finance lease transaction with HSBC through the GIFT City.
This is also the first wide body aircraft to be leased through the GIFT City, the country's first International Financial Services Centre (IFSC).
In a release, the airline said the transaction was facilitated by its wholly-owned subsidiary AI Fleet Services Ltd (AIFS) and is also the first financing transaction from the orders for 470 aircraft that were made earlier this year.
Tata Group-owned Air India, which has embarked on an ambitious transformation plan, expects the first A350-900 aircraft to arrive in India by the end of this year.
According to the release, the airline has successfully acquired India's first Airbus A350-900 aircraft through a finance lease transaction with HSBC.
"This landmark transaction marks the beginning of our aircraft leasing business from GIFT IFSC, as AIFS will be the primary Air India Group .

Air India

The six units being planned to be listed are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited

Vedanta

The counter that hit a 52-week low of Rs 42.39 on August 29, 2023, traded at a record low of Rs 37.96 in March 2009. It had hit a record high of Rs 581.24 in December 2007

Real estate

Shares of GMDC hit a record high of Rs 323.70 as they rallied 14%, surpassing its previous high of Rs 316.18 touched on November 12, 2007

Lignite

1 out of every 25 shares from the Nifty 500 index has more-than-doubled investors wealth in 2023 so  far, with Apar Industries, Mazagon Dock and JBM Auto as the top movers.

Wealth-Manager

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

Budget

According to Ravi Nathani, an independent technical analyst, the 'buy the dips' strategy seems particularly relevant in the current market conditions.

stocks, stock call, buy, sell, trading ideas, buy sell ideas

Israeli airstrikes hit several targets in the Gaza Strip on Tuesday, the country's military said, after Palestinian protesters flocked for the 12th straight day to the enclave's frontier with Israel  demonstrations that have devolved into violent clashes with Israeli security forces.
There were no reports of casualties in Gaza from the Israeli airstrikes.
The Israeli army said that it used a drone, helicopter and tank to strike multiple posts in northern and southern Gaza belonging to the strip's militant Hamas rulers in response to what it described as violent riots at the separation fence between Gaza and Israel. The protests involve Palestinians throwing stones and explosive devices, burning tires and, according to the Israeli military, shooting at Israeli soldiers.
Palestinian health officials reported that Israeli forces shot and wounded 11 protesters during Tuesday's rally.
Hamas, the Islamic militant group that seized control of Gaza in 2007, has said that young Palestinians

Gaza violence

Maharashtra state marketing minister Abdul Sattar on Tuesday said a meeting called here for discussing onion traders' demand to slash the 40 per cent export duty on the kitchen staple ended without any decision as the concerned Union secretary was not present.
The meeting was attended by Sattar, deputy Chief Minister and Finance Minister Ajit Pawar, and representatives of onion traders.
A Union secretary was not present, hence no major solution was found on the issue of slashing 40 per cent export duty. The next meeting is scheduled for September 29 in Delhi which we will attend. I am hopeful that an amicable solution will be found, he said.  Asked if the Maharashtra government has issued any directive to onion traders, Sattar said, The state has asked the traders to procure onions from farmers.  Agencies such as NAFED will also start buying onions.

Onion, Onions

Canada is India's main import source of lentils, a protein-rich staple used to make daal curry

India Canada

Tata Steel on Friday commissioned a 10.8-MW capacity floating solar power project on the upper cooling pond of its Jamshedpur plant in Jharkhand.
A total of 20.34 MW of solar projects have been commissioned in various facilities at Tata Steel in Jamshedpur, the company said in a statement.
The floating solar project was commissioned by Tata Power under an agreement with the steel major for the installation of a total of 41MW with a combination of rooftop, floating and ground-mounted solar panels across its locations.
Earlier, rooftop solar projects at the central warehouse, cold rolling mill, wire rod and hot strip mills, totalling 7.65 MW and a 2 MW ground-mounted solar project at Sonari Airport have already been commissioned.

Solar Energy, Renewable Energy, Green Energy

The Chhattisgarh Police has arrested two people in connection with a Rs 20-crore burglary from a jewellery store in New Delhi earlier this week and recovered around 18.5 kg of gold and diamond ornaments from them, a senior official said on Friday.
A joint team of officials from the anti-crime and cyber unit and the Civil Line police station in Bilaspur district carried out the operation while probing a series of thefts in Bilaspur city, Superintendent of Police Santosh Singh told PTI.
Those arrested have been identified as Lokesh Srivas (32), who is allegedly involved in several thefts in Bilaspur, and Shiva Chandravanshi (23), he said.
The value of gold and diamond ornaments recovered from Srivas is estimated at Rs 12 crore but the exact value was yet to be ascertained, he added.
Acting on a tip-off about Srivas being present in Kawardha town of Chhattisgarh's Kabirdham district, the team conducted a raid there on Wednesday and arrested Chandravanshi along with ornaments worth Rs 

Police in Gurugram due to communal violence

The Gujarat High Court on Friday reserved its order in the review plea filed by Delhi Chief Minister Arvind Kejriwal in a matter related to Prime Minister Narendra Modi's degree after arguments concluded.
After hearing both the sides, Justice Biren Vaishnav kept the judgement reserved.
Earlier in June, Kejriwal, who also heads the Aam Aadmi Party (AAP), approached High Court seeking a review of its recent order setting aside the Central Information Commission's directive to the Gujarat University to provide information on Prime Minister Narendra Modi's Master of Arts (MA) degree to him.
In March, Justice Vaishnav had allowed Gujarat University's appeal against the CIC order and had also imposed a cost of Rs 25,000 on Kejriwal.
One of the key contentions raised by Kejriwal in his review plea is that contrary to Gujarat University's claim about Modi's degree being available online, no such degree is available on the university's website.
During Friday's hearing, senior lawyer Percy 

Gavel, Law & Order

The Uttar Pradesh Real Estate Regulatory Authority on Friday allowed a realtor to complete a stuck housing project in Greater Noida.
The UP RERA approved the promotor's plan with the consent of a majority of allottees to complete the remaining construction and development work of Elegant Ville project in Techzone 4 area of Greater Noida West.
According to RERA officials, the project with 761 units was scheduled to be built in four phases and delivered by 2019 but got stuck.
"To protect the interests of the allottees of Elegant Ville, a stuck project of Gautam Buddh Nagar, UP RERA has authorized the promoter to complete the remaining construction and development work under provisions of section 8 of the RERA Act with the consent of its majority of allottees," UP RERA said.
"For this, the promoter of the project, Elegant Infracon Private Limited, has collaborated with Floral Realtech Private Limited and presented a plan of project rehabilitation according to which the project will be

Real Estate, Realty sector, Construction, Realty

Maruti Suzuki India on Friday said it has received a show cause notice from the GST Authority proposing to demand interest and impose penalty, besides appropriating tax already paid, amounting to Rs 139.3 crore.
The notice pertains to the matter of tax liability under reverse charge basis on certain services for the period of July 2017 to August, 2022, Maruti Suzuki India said in a regulatory filing.
"The company will file a reply to the show cause notice before the Adjudicating Authority," it said, adding that there was no impact on its financial, operation or other activities due to the notice.
The company also said it has received a favourable order from the High Court of Punjab and Haryana wherein appeals filed by the Central Excise Department for the period June 2006 to March 2011 have been dismissed.
The Central Excise Department had filed appeals before the high court against an earlier tribunal order of August 2016, which was passed in favour of the company in which input .

investment opportunities

Top headlines: Gangwal to sell IndiGo shares, India Inc's Q1 result review

Sitharaman meets Korean FM, highlights investment opportunities in India

Industrialists see investment opportunity in J&K post abrogation of Art 370

PM asks investors to explore investment opportunities in energy sector

Investment opportunities in space cooling to be $1.5 trn by 2040 in India

Gadkari discusses investment opportunities with Australia to boost ties

India's digital revolution offers investment opportunities to US, says FM

Temasek bullish on Indian start-ups, renew energy despite slowdown overseas

Raamdeo Agrawal on investment opportunities after market correction

Brazil offers global investors unique opportunities, says Jair Bolsonaro

India, Chile review bilateral ties; to firm up investment protection pact

Letters: India's time has come