LIC’s Jeevan Dhara II: A New Era of Deferred Annuity Plans
The Life Insurance Corporation of India (LIC) has launched a new individual, savings, deferred annuity plan called Jeevan Dhara II. The plan was unveiled by LIC Chairperson Siddhartha Mohanty on January 19, 2024, and will be available for sale from January 22, 2024. The plan offers a range of benefits and features to suit the […]
Akasa Air to Initiate Flights from Noida International Airport
Akasa Air, the new low-cost airline backed by billionaire investor Rakesh Jhunjhunwala, has announced its plan to start flights from the upcoming Noida International Airport (NIA), also known as Jewar Airport, in Uttar Pradesh. The airline has signed a memorandum of understanding (MoU) with NIA on Friday, becoming the second carrier to partner with the […]
Bharat Rice: Govt’s New Entrant in the Retail Market
The government is planning to launch a new initiative to sell rice at a discounted rate of Rs 25 per kg under the Bharat brand, as part of its efforts to tackle the rising food inflation and provide relief to the consumers ahead of the 2024 Lok Sabha elections. Why Bharat Rice? According to the […]
Nova Agritech Raises Rs 43 Crore from Anchor Investors
Nova Agritech Ltd, a manufacturer of agri-input products such as bio-fertilizers, bio-pesticides, micronutrients and plant growth promoters, has raised Rs 43.14 crore from anchor investors ahead of its initial public offering (IPO) that opens on January 22, 2024. Anchor Investors The company informed the bourses that it allocated 1,05,22,220 equity shares at Rs 41 per […]
Up to 2,800 Jobs at Risk as Tata Steel Plans to Shut Down UK Blast Furnaces
Tata Steel, the India-owned steel giant, announced on Friday that it will close its two blast furnaces in Britain by the end of this year, putting up to 2,800 jobs at risk at its Port Talbot steelworks in Wales. The company said the decision was part of its plan to turn around its loss-making UK […]
Wheat Cultivation Area Exceeds 340 Lakh Hectares, Pulses Struggle in Rabi Season: Government Data
Wheat sowing completed with higher coverage The Department of Agriculture & Farmers’ Welfare has released the progress of area coverage under rabi crops as on 19th January 2024. According to the data, wheat, the main rabi crop, has been sown in 340.08 lakh hectares, which is higher than the 337.50 lakh hectares in the same […]
Matix Fertilizers Faces Rs 100cr Claim from GEECL Amid GSPA Controversy
Introduction Matix Fertilizers & Chemicals Limited, a company that operates West Bengal’s only large integrated fertilizer plant at Panagarh near Durgapur, is facing a legal dispute with Great Eastern Energy Corporation Limited (GEECL), a natural gas producer. GEECL has claimed more than Rs 100 crore from Matix for allegedly not honouring the terms of the […]
Green Energy on the Horizon: Sanmit Infra Board Greenlights Bio CNG Plant Proposal
Sanmit Infra Ltd, a company engaged in construction of real estate projects, supply of petroleum products and biomedical waste management, has announced its plan to set up a bio CNG plant under the Sustainable Alternative towards Affordable Transportation (SATAT) scheme. The project is part of the company’s broader strategy of expanding its business operations over […]
Hyundai’s Strategic Move: Acquisition of GM’s Talegaon Plant and ₹6,000 Crore Investment in Maharashtra
Hyundai Motor India Ltd. (HMIL), the second-largest carmaker in India, has completed the acquisition of General Motors India’s Talegaon Plant in Maharashtra, as part of its expansion strategy in the country. The acquisition boosts Hyundai’s cumulative production capacity to 1 million units and aligns with the ‘Atmanirbhar Bharat’ initiative. Acquisition Details The Asset Purchase Agreement […]
Investing in Aquaculture: AquaExchange’s $6 Million Funding Round Led by Ocean 14 Capital and Endiya Partners
Aquaculture, the farming of aquatic organisms such as fish, crustaceans and algae, is one of the fastest-growing food sectors in the world. According to the government’s investment promotion agency, India is the third largest fish-producing country globally with an 8 per cent share in global production. However, the sector faces many challenges such as low […]