Steel major JSW Steel’s net profit in the third quarter of the current financial year fell 70.3 per cent to Rs 717 crore as compared to the same period a year ago. The company said on Friday that the decline in net profit in the October-December quarter was due to falling steel prices. The net … Read more
Now that US President Donald Trump is starting the ‘Make in America’ schemes, India’s Essar Group is also investing an additional $ 65 million in its plant in Minnesota state. The group first invested $ 1.7 billion. Essar Group Director Prashant Ruia, in a telephone conversation with the World Economic Forum in Davos, Switzerland, told … Read more
Adani Group has denied reports of cancellation of Adani Green Energy’s wind power project in Sri Lanka. The group on Friday said the rates for the project are being re-evaluated as per standard procedure. AFP, citing sources in Sri Lanka’s Energy Ministry, had reported that the island country has canceled the power purchase agreement with … Read more
The Supreme Court has stayed the High Court judgment in favor of Mauritius-based investment arm Tiger Global International Holdings. The case pertains to the sale of Flipkart Singapore’s stake to Walmart for Rs 14,500 crore in 2018, on which capital gains were made in India. The Supreme Court has said in its order, ‘There is … Read more
Tata Electronics today announced the purchase of 60 per cent stake in Pegatron Technology India, the Indian arm of Taiwan’s Pegatron Corporation, which makes iPhones on contract for Apple. According to people familiar with the development, this deal will significantly reduce the gap between Tata Electronics and Foxconn in terms of iPhone production in the … Read more