India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi, Mar 30 (PTI) State-owned Oil and Natural Gas Corporation (ONGC) has commenced gas production from its Daman Upside Development Project in the Arabian Sea, strengthening India's domestic energy supply amid global disruptions. In a regulatory filing, the firm said the project, located about 180 kms north-west of Mumbai and about 80 kms south of Pipavav, Gujarat, "achieved a significant milestone on March 29 by monetisation through flowing gas from Platform B-12-24P". "This platform has been successfully commissioned and gas sent to Hazira Plant," it said, adding that the project was executed in less than two years from the date of award. The project aims to produce 21.5 billion cubic meters of gas, utilising 4 new wellhead platforms (including B-12-24P) and 140 km of pipelines to send gas to the Hazira plant. It is expected to reach a peak production of around 5 million standard cubic meters per day. ONGC, however, did not give current flow rates. "This (commissioning) has been achieved through strong project execution, innovative use of the drill-deck and strong performance by drilling and production teams. This milestone marks the commencement of gas monetisation from the DUDP (Daman Upside Development Project)," it said. "Production from all wells will be ramped up in a phased manner." PTI ANZ BAL BAL
In a regulatory filing on Thursday, the company stated that the NCLAT, through its order dated December 12, 2024, has "appointed NBCC (India) Limited as Project Management Consultant for the completion of 16 projects of Supertech Ltd." NBCC will oversee the completion of these projects, which include 49,748 housing units spread across Uttar Pradesh, Uttarakhand, Haryana, and Karnataka. The projects include Ecovillage-2, Romano, Capetown, Czar Suites, Eco-Village 3, Sports Village, and Eco-Citi ...Read More >
Ahmedabad, June 8 (SocialNews.XYZ) The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, is set to dock at the Adani Group's Vizhinjam International Seaport on Monday and will be berthed till Tuesday. The monumental arrival marks a significant milestone for the seaport, which was dedicated to the nation by Prime Minister Narendra Modi on May 2. The MSC IRINA boasts an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping. With a length of 399.9 metres and a width of 61.3 metres, the vessel is approximate ...Read More >
Sivasagar, Jun 26 (PTI) Leakage of gas continued for the 15th day from a crude oil well of ONGC in Assam's Sivasagar district although the energy major on Thursday claimed that it is nearing to control the blowout. In its daily bulletin on the blowout, ONGC said it has achieved a key breakthrough in its ongoing operations in close coordination with international well control specialists from CUDD Pressure Control. "The team successfully cleared all remaining rig materials, including staircases, entangled wires and other structural components. "This critical step culminated in the safe remov ...Read More >
Kolkata (West Bengal) [India], June 27 (ANI): A female student was allegedly gang-raped inside a law college in Kolkata's Kasba on Wednesday evening. The police have arrested all three accused within 24 hours. The three accused, named as Monojit Mishra (31), Zaib Ahmed (19), and Pramit Mukhopadhyay (20), were former students or staff members of the same law college. Also Read | Student Gang-Raped at South Kolkata Law College: Police Arrest 3 Youths for Sexually Assaulting Young Woman Inside Law College. According to the police, the accused named in the FIR will be produced before the A.C.J. ...Read More >
New Delhi, Jun 27 (PTI) India's biggest warship builder Mazagon Dock Shipbuilders Ltd on Friday said it has decided to acquire a controlling stake in Colombo Dockyard PLC in an all-cash deal of about Rs 452 crore. The Mumbai-headquartered shipbuilder, in a regulatory filing, said the proposed acquisition will enable the company to strengthen its position in the ship repair and shipbuilding industry by unlocking operational synergies, enhancing research development capacities and expanding market reach. Also Read | Bodoland Lottery Result Today, June 27, 2025: Assam State Lottery Sambad Frida ...Read More >
New Delhi: Mukesh Ambani's Reliance Industries is deliberating on closing a deal with the Russian oil giant PJSC Rosneft Oil Company, the talks for which are in an early stage. The talks are about sale of Rosneft's 49.13 per cent stake in Nayara Energy, which operates a 20-million tonnes-a-year oil refinery and 6,750 petrol pumps in India, sources said. Reliance has held preliminary talks for the acquisition of Nayara. If it happens then it will help it overtake state-owned Indian Oil Corporation (IOC) to become India's No.1 oil refiner. Since the discussions are in initial stage, there is no ...Read More >
New Delhi, Jul 3 (PTI) State-owned NBCC Ltd has signed an initial pact with National Film Development Corporation (NFDC) to renovate and redevelop the iconic 5.5-acre Siri Fort Auditorium complex in the national capital into a world-class cultural destination. Siri Fort Auditorium, located in South Delhi, was constructed in 1982 during the Asian Games. It currently has four auditoriums with a combined seating of over 2,600. In the past four decades, the auditorium complex has hosted global film festivals, musical events and public events. Also Read | India Weather Forecast: Monsoon in Active ...Read More >
New Delhi, Jul 10 (PTI) State governments should provide adequate financial resources to Science & Technology (S&T) Councils, and slightly restructure their governing bodies to drive innovation and technology-led growth, NITI Aayog said on Thursday. In a report titled 'A Roadmap for Strengthening State S&T Council', the Aayog said that these councils must explore wider funding opportunities available with different departments of the central government for activities related to the overall mandate. "State governments should provide adequate financial resources to the councils to enable them ...Read More >
Mumbai, Jul 14 (PTI) State-owned IFCI on Monday sought the government's go-ahead for the consolidation of its various group entities, including the broking business. IFCI Limited (the consolidated entity) also proposed to remain as an NBFC (Non-Banking Financial Company). In a regulatory filing on Monday, the company informed that its board has recommended to the Government of India for approval of the Group Consolidation in two stages. Based on the in-principle approval received from the Government of India to consider 'Consolidation of IFCI Group' dated November 22, 2024, which entailed m ...Read More >
Guwahati, Jan 10 (PTI) The 'sardar' of workers of the coal mine in Assam's Dima Hasao district, where eight miners remained trapped, was arrested, even as a dewatering exercise continued in the quarry to facilitate the resumption of rescue operations, police said on Friday. The fate of the trapped miners appeared to be grim with personnel involved in the rescue operations racing against time to bring them out of the ill-fated quarry, while the body of one labourer, hailing from Nepal, has been recovered from there, an official said. "The 'sardar' (head) of the miners, who had fled the quarry ...Read More >
New Delhi, Jul 2 (PTI) State-owned NMDC has reported a record 31 per cent jump in its iron ore production to 11.99 million tonnes (MT) in the April-June quarter of 2025-26 compared to 9.19 MT in the year-ago period, according to a statement. Its sales rose by 14 per cent to 11.51 MT in the first quarter of FY26 compared to 10.07 MT in the first quarter of 2024-25, the company said in the statement on Wednesday. Also Read | How Is the Next Dalai Lama Chosen? Know How the Successor of the 14th Dalai Lama Will Be Picked. In June, the company produced 3.57 MT of iron ore, registering a 5 per ce ...Read More >
New Delhi, Jul 11 (PTI) Inter-ministerial consultations are underway for a ₹1,345-crore scheme to subsidise production of rare earth magnets in India with two select manufacturers proposed to be given incentives, Union Heavy Industries Minister H D Kumaraswamy said on Friday. The proposed scheme comes in the wake of China restricting exports of rare earth magnets that has hit global supplies, impacting EV makers, including in India. It will provide end-to-end support for conversion of rare earth oxides into magnets. The proposal may be sent to the Union Cabinet for approval once the inter-m ...Read More >
New Delhi, Jun 6 (PTI) State-owned power giant NTPC on Friday said its Group installed generation capacity has reached 80,515 MW, after the first unit of 250 MW of the Tehri hydro Pumped Storage Project (PSP) began commercial supply of electricity. THDC India Ltd, a subsidiary of NTPC Ltd, has declared the first 250 MW unit of its 1,000 MW Tehri PSP (4x250 MW) commercially operational with effect from 00:00 hours on June 7, 2025, according to a regulatory filing. The total installed and commercial capacity of the NTPC group will become 80,515 MW, it added. NTPC is India's largest integrated ...Read More >
New Delhi: Chief minister Rekha Gupta on Sunday said authorities cannot go against demolition orders issued by courts and stressed that displaced residents have been provided accommodation.Her words came in the wake of the recent Madrasi Camp demolition for which the opposition Aam Aadmi Party (AAP) has criticised her. AAP has targeted Gupta, and alleged that the displaced Madrasi Camp residents were provided homes in faraway Narela, and those lack basic amenities.Attending an event to mark the construction of a Jan Sewa camp at a slum cluster in the Haiderpur area, Gupta told reporters: "In t ...Read More >
New Delhi, Jul 1 (PTI) State-owned SJVN on Tuesday announced signing an agreement with Uttar Pradesh Power Corporation Limited (UPPCL) to supply power from its 900-MW Arun-III Hydro Electric Project in Nepal. The company also signed power purchase agreements (PPAs) with UPPCL for supply of power from its upcoming 210 MW Luhri Stage-I and 382 MW Sunni Dam Hydro Electric Project (HEP) and 382 MW Sunni Dam HEP in Himachal Pradesh, Shimla-based SJVN said in a statement. Together, these projects will add 592 MW of green energy to the national grid. These HEP will generate 2140 MU of electricity a ...Read More >
As a part of the new agreement between Mazagon Dock and BEML, Mazagon Docks will make facilities available to BEML's research team in exchange for their technical support to design and manufacture strategic equipment, reported PTI. The government-owned BEML Ltd. (formerly known as Bharat Earth Movers Ltd) announced on Wednesday, November 27, that it has signed an agreement with Mazagon Dock Shipbuilders to develop technologies for the marine industry, news agency PTI reported. According to the company statement cited by the agency, the company aims to leverage the opportunity to expand its e ...Read More >
Chennai: The capacity utilisation of the domestic steel industry is set to drop to 78 per cent for the first time in four years. In order to check unprecedented imports, the government is considering imposing a 25 per cent duty on steel imports. Cheaper imports from China and countries under Free Trade Agreement along with ongoing capacity addition can lead to capacity utilisation of domestic steel mills dropping from 85 per cent in FY2024 to an estimated 78 per cent in the current fiscal, the lowest we have seen in the last four years. The domestic steel industry witnessed an all-time high ...Read More >
Mumbai, Jun 6 (PTI) The Enforcement Directorate on Friday conducted searches in Maharashtra and Kerala as part of a money laundering investigation linked to the Mithi river desilting "scam" that is alleged to have caused a Rs 65 crore loss to the BMC, official sources said. The raids are covering more than 15 premises located in Mumbai and Kochi. The investigation is being conducted under the Prevention of Money Laundering Act (PMLA), the sources said. The ED case against certain officials of the Brihanmumbai Municipal Corporation (BMC) and some others stems from a Mumbai Police economic off ...Read More >
New Delhi/Guwahati, June 27 (SocialNews.XYZ) State-owned Oil and Natural Gas Corporation Limited (ONGC) on Friday successfully capped the blowout in one of its wells in Assam's Sivasagar district, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has announced. Announcing the plugging of the blowout, Puri said in a post on X on Friday, "ONGC has successfully capped the blow out of well RDS#147A at 1115 hours hrs today. This blow out started on 12th June and has been capped successfully within the shortest possible time following all the best practices." He said the Crisis Manag ...Read More >
VIJAYAWADA: The State government on Friday accorded approvals to a slew of industries. Among those are Krishnapatnam Power Corporation Limited (KPCL), which is set to establish a 350 MW Solar and Battery Energy Storage System (BESS) in Thamminapatnam and Mommidi villages of SPSR Nellore district with a Rs 1,225 crore investment, creating 575 jobs. Furthermore, the government also waived off a Rs 54 crore extension of time fee, contingent on project completion within two years as per the Andhra Pradesh Integrated Clean Energy Policy-2024. The government also allocated 22.80 acres at MPSEZ in N ...Read More >
Cuttack, Jul 4 (PTI) Enforcement Directorate's Deputy Director Chintan Raghuvanshi, who was arrested by the CBI while allegedly accepting a bribe from a businessman in Bhubaneswar, was released on interim bail from the Jharpada jail on Friday evening. The Orissa High Court granted him interim bail on Wednesday for 10 days on the ground that the young officer became a father on June 28 and he wanted to see his newborn baby and attend some rituals. Also Read | PM Narendra Modi Conferred With 'The Order of the Republic of Trinidad & Tobago' During Ceremonial Event at President's House in Port o ...Read More >
New Delhi, July 8 (SocialNews.XYZ) Finance Minister Nirmala Sitharaman on Tuesday received dividend cheques to the tune of Rs 5,304 crore on behalf of the government from three public sector banks for the financial year ended on March 31, 2025. A dividend cheque of Rs 2,335 crore for FY 2024-25 was presented to the Finance Minister, in her North Block office, by Punjab National Bank MD and CEO Ashok Chandra, while Bank of India MD & CEO Rajneesh Karnatak presented a cheque of Rs 1,353 crore. The third dividend cheque of Rs 1,616 crore for FY 2024-25 was presented to Finance Minister Sitharama ...Read More >
Mumbai, Jul 14 (PTI) Singaporean investment company Temasek's India portfolio has grown to USD 50 billion, and it is chasing opportunities of at least USD 4 billion more, a senior official said on Monday. "We invested USD 3 billion each over the last two years, and see a pipeline of at least USD 3-4 billion this year," its managing director Vishesh Shrivastav told PTI. He said three years ago, Temasek had given guidance of having an India pipeline of USD 9-10 billion, and the opportunities it sees right now are in sync with the same. Shrivastav clarified that all the deals in the pipeline m ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
Mumbai, July 7 (PTI) After a 20-hour search operation involving multiple agencies, the "suspicious boat" spotted in the Arabian sea in Maharashtra's Raigad district has been identified as a fishing net buoy which was drifted into the Indian waters with an AIS transponder, police said on Monday. Considering the high alert situation, the sensitive operation has not been called off yet, said Raigad Superintendent of Police Aanchal Dalal. The Indian Coast Guard on Sunday night informed the police that the suspected Pakistani boat, "Muqadar Boya 99" with a boat number MMSI-463800411 was spotted n ...Read More >
New Delhi, Jul 1 (PTI) The Indian Navy contained a fire on board a Palau-flagged tanker in the North Arabian Sea and ensured safety of 14 of the vessel's Indian crew members. The Navy swung into action and launched the fire-fighting operation after receiving a distress call from the vessel on Sunday. The vessel reported a major fire in its engine room while operating approximately 80 nautical miles east of Fujairah in the United Arab Emirates (UAE). "The Indian Navy undertook a high-risk fire fighting and rescue operation on-board Palau-flagged tanker MT Yi Cheng 6 on June 29 in the North A ...Read More >
New Delhi, Jun 8 (PTI) State-owned Bank of Baroda (BoB) on Sunday said it has cut its benchmark lending rate linked to repo rate by 50 basis points in line with the RBI's rate reduction. Meanwhile, private sector HDFC Bank reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by 10 basis points across tenure, which will benefit borrowers whose loans are linked to this benchmark. Also Read | Encroachers Can't Claim Right To Continue Occupying Public Land, Says Delhi High Court. Pursuant to the Reserve Bank of India (RBI) reducing the policy repo rate, the bank has slashed its Repo Li ...Read More >
Mumbai, Jul 4 (PTI) The rupee appreciated 15 paise to close at 85.40 against the US dollar on Friday, tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Forex traders said Asian currencies, including the rupee, gained ground on renewed hopes of trade deals with the US. US President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline, according to forex traders. At the interbank foreign exchange, the domesti ...Read More >
Bengaluru, Jul 4 (PTI) BEML Ltd, a public sector undertaking, on Friday announced that it has secured two prestigious export orders with a combined value of USD 6.23 million from the Commonwealth of Independent States (CIS) region, including Uzbekistan. This marks another milestone in BEML's strategic journey to expand its global footprint in mining and defence equipment exports, it said. According to a statement by BEML Ltd, the company has secured two distinct orders, including one from a CIS nation for the supply of 10 units of its heavy-duty bulldozers, specially engineered to perform in ...Read More >
New Delhi, Jul 13 (PTI) India's biggest real estate firm DLF's Chairman Rajiv Singh's remuneration rose 34 per cent annually to ₹36.65 crore in the last fiscal, following better performance of the company, according to its latest annual report. As per the list of remuneration paid/payable to directors/KMPs (key managerial personnel) during 2024-25, the DLF's Chairman and whole-time director has received ₹36.65 crore as remuneration for the last fiscal against ₹27.30 crore in the preceding financial year. Out of the total remuneration paid to the DLF Chairman, ₹34.53 crore has been in the for ...Read More >