COST Financial News

Tecnimont, together with sustainable technology solutions arm Nextchem, has been awarded an engineering design study (first phase of the front-end engineering design) for a green ammonia plant to be located in India. The contract was awarded by Sembcorp Green Hydrogen India. Tecnimont secured the contract through its Indian subsidiary Tecnimont Pvt Ltd (TCMPL). The study will leverage Nextchem’s digital tool ArcHy (Architecture of Hydrogen systems), to overcome the challenge of the intermittency of renewable power usage, resulting in capex and opex efficiency of the plant lifecycle, the company said in a statement.

HCL starts FY25 on a soft note; bumpy path ahead In the June quarter of FY25, a sharp year-on-year rise in employee costs and other expenses meant the Ebitda margin was flattish at 8.9%, erasing the gross margin gains. DMart said operating costs increased because of efforts to improve its service and build capabilities for the future. The company added six stores in the quarter, taking the total to 371.

health insurance policy in India was due for renewal. Assuming it wouldn't be necessary since she was moving abroad, she didn't renew it. However, a few months later, during a visit to her parents' home in India, Asha experienced diarrhea due to the change in location and diet.

Phillip Capital has maintained a sell view on IREDA, raising the target price to Rs 130 from Rs 110, noting that the recent stock rally, driven mainly by passive flows rather than fundamental reasons, has already priced in the best value. The domestic brokerage firm stated that they believe in continuing growth of the company as IREDA is likely to see strong loan growth at a CAGR of 25% over FY24-26 on rising demand for renewable energy in the country. However, the earnings growth is not expected to match the loan growth due to pressure on margins.

NEW DELHI : Insurance approval delays during hospital admissions and discharges have long been a bane for patients, primarily due to fragmented front-end systems and manual intervention at hospitals. Imagine a unified platform where all hospitals, insurance companies, and stakeholders come together to digitize and streamline this process. Enter the National Health Claims Exchange (NHCX), an initiative developed by the National Health Authority (NHA), the Union health ministry, and the Insurance Regulatory and Development Authority of India (Irdai).

₹2.6 crore, and Chitransh wanted to finance ₹1.95 crore through a loan. However, his plan fell apart when he approached a bank for a home loan. The loan manager informed him the loan would not cover the 23.92% TDS or tax deducted at source that he has to deposit with the Income Tax Department.

Mint. “Besides the domestic market, we are also looking at exports to the Middle East, Asia, Africa, Europe and the U.S. These exports contributed to 14% of our revenues in FY24 from 4% a year earlier," Sany’s managing director Deepak Garg said.

BARCELONA—Tourists to popular European destinations have encountered signs that locals wish they’d go elsewhere. Nearly 3,000 protesters marched through La Rambla, this city’s tourism epicenter, last week. They sprayed people with water from colorful squirt guns.

renewable energy has been going through a dry patch. Generation from solar farms roughly tripled between 2018 and 2023, while the output of wind turbines almost doubled. That provided enough extra clean energy to power Japan and Russia, put together. Meanwhile, the hydroelectric dams that generate about one-seventh of the world’s electricity stood still: The additional 52 terawatt-hours in 2023 was only enough to fuel Greece. That’s not overly surprising. Hydro’s problems resemble those of the other veteran form of clean power, nuclear. Unlike wind and solar, it’s been an established technology for decades, so much of its growth potential has already been exploited. Like nuclear, it’s dependent on the building of costly and time-consuming projects to move forward, and shows little sign of reducing its (already low) costs. Compounding the problems, a two-year drought connected to the La Niña climate cycle during 2022 and 2023 caused a collapse of generation in China, home to about a third of the world’s hydro dams.

In June the bank hiked lending rates (MCLR) on select tenures by 10 bps. Loan interest rates in July 2024: These 7 banks have revised loan interest rates in July

₹2,399, breaks down to an approximate cost of ₹200 per month. Subscribers will enjoy 2GB of high-speed data per day, 100 free SMS daily, and unlimited voice calls across all networks nationwide.

Adani Power, JSW Energy, Jindal Power, Vedanta Group, Torrent Power and state-owned NTPC are among 15 companies that have submitted formal expressions of interest (EOIs) for giving a resolution plan to take over the debt-laden Sinnar Thermal Power near Nashik in Maharashtra. The 1,350 MW power plant, a subsidiary of RattanIndia Power, was initially developed by Indiabulls Power. It is a rare power producer readily available in India where building a green field project is both time-consuming and costly. Bidders have till later this month to submit an initial resolution plan, which will include a ₹10 crore deposit, people familiar with the matter said.

Vanuatu on the map. He had never been there; probably, he never would. Until the other day, he had not heard about the country. Vanuatu sounded like a mystery land in a ‘guess the country’ game. Nonetheless, he and his wife are citizens of Vanuatu — an island nation in the South Pacific that few Indians knew two years ago. Today, many do. Vanuatu has emerged as the quickest and cheapest avenue to switch citizenship, grab a new passport. Competing with Cyprus and Malta — which are more expensive and time-consuming options — Vanuatu is among the very few countries where one can become a citizen without ever visiting it. FIRST SPEND A YEAR IN UAE

State Bank of India (SBI) has hiked its benchmark marginal cost of fund based lending rate (MCLR) by 5 to 10 basis points in majority of tenures effective Monday. In an update on its website the country's largest lender said MCLR on one month to three years has been hiked by 5 to 10 basis points. One basis point is 0.01 percentage point. Following the hike, interest rates on loans linked to MCLR will likely go up by a similar quantum. The benchmark rate on one month MCLR has been hiked by 5 basis points to 8.35% while the three month MCLR has been hiked by 10 basis points to 8.40%.

new terminal of Pune international airport was operationalised on Sunday with passengers boarding flights to New Delhi and Odisha capital Bhubaneswar, an official said. Union Minister of State for Civil Aviation and local MP Murlidhar Mohol handed over the first boarding pass to a flyer to mark the occasion. The new terminal was e-inaugurated along with several other airport projects nationwide by Prime Minister Narendra Modi from an event in Azamgarh in Uttar Pradesh on March 10 this year.

air-conditioning industry, valued at around Rs 27,500 crore (USD 3.3 billion), is likely to double in the next four years, Blue Star has said in its annual report. The Indian HVAC&R (heating, ventilating, air conditioning and refrigerating) is poised for exponential growth, said Blue Star Chairman & Managing Director Vir S Advani. This growth would be driven by factors such as «low penetration» of room ACs and the burgeoning middle-class consumers with «high disposable incomes», especially from smaller Tier III, IV & V markets. «The Indian The overall AC industry (both residential and commercial), currently valued at around Rs 27,500 crore, is likely to double in the next four years,» Advani said in his address to the company's shareholders in the annual report for 2023-24.

Union Budget on July 23 in Parliament, standard deduction to Rs 1 lakh and increasing tax break among others are some of the expectations for the comman man that consultancy firm KPMG expects. «There has been a significant rise in medical expenses, fuel costs and overall inflation. Keeping in mind the increase in personal expenditure it is popularly expected to enhance the standard deduction to Rs 1 lakh from the existing limit of Rs 50,000,» said the firm in a note. The Union Budget will be Prime Minister Narendra Modi-led coalition government's first major policy announcement after the 18th Lok Sabha polls.

Union Budget 2024-25 on July 23, the electric vehicle (EV) sector is optimistic about potential announcements that could spur industry growth. The EV sector is at a critical juncture, with every player striving to capture market share. The industry anticipates that the government will introduce FAME-3, allocate funds for charging infrastructure, provide incentives for the localization of EV components, integrate EVs with renewable energy sources, implement a priority lending scheme, and reduce GST on EV services, among other measures.

Slow and steady: How a passive approach secured this CEO's retirement future “Harsh, like quite a few of my clients, aims for financial independence by 50-55," Nayak said. “However, with NPS, if one decides to exit completely before 60, at least 80% of the accumulated corpus must be used to purchase an annuity, while the remaining 20% is paid out as a lumpsum. Further, the annuity is taxable at the individual’s slab rate." Mishra has opted for an NPS-E account—an equity-oriented NPS scheme with 75% equity allocation, unlike pure debt investments such as EPF and PPF.

Fractional ownership platform RealX has helped investors acquire over 3,500 square yards of commercial land in Ayodhya for Rs 10.4 crore. In a statement, RealX said it closed its Ayodhya commercial land parcel of 31,646 sq ft (3516.22 sq yards) at a value of Rs 10.40 crore. As many as 57 investors acquired commercial land. They invested between Rs 50,000 and Rs 25 lakhs to acquire proportionate ownership rights in the property. The deal signifies a step forward in making high-value real estate accessible to a broader audience through fractional ownership and property tokenisation, the statement said.

income tax return (ITR) to save on taxes. There are two deductions under sections 80DD and 80U, using which an individual can reduce their total taxable income. By reducing the total income, ultimately an individual is paying a lower quantum of tax.