COST Financial News

Gadkari on Monday said electric bus will be started by laying electric cable on the Delhi-Mumbai Express National Highway and the distance from Delhi to Jaipur will be covered in two hours and its fare will be 30 per cent less than a diesel bus. Addressing the inauguration and foundation stone laying ceremony of 17 road projects with an investment of more than Rs 2,500 crore in Udaipur to accelerate Mewar's development, Gadkari said, «I believe that from Bandikui to Jaipur for Rs 1,370 crore, we are constructing a 67-kilometer four-lane expressway.» «This work will be completed by November 2024 and after that, I assure you that the journey from Delhi to Jaipur will be within two hours,» he added. Gadkari said the Delhi-Mumbai express highway is the first in Asia and the second in the world on which we have built an animal overpass so that animals do not have to cross the road.

FICCI) Northeast Advisory Council and Assam State Council have welcomed the Assam State Budget for 2024-25. The budget's strategic allocations and visionary initiatives are poised to catalyse sustainable development, economic revitalization, and social empowerment across the state, it said. Ranjit Barthakur, Chairman of FICCI Northeast Advisory Council, lauded the Assam State Budget 2024-25 for its integrated approach towards development, particularly emphasizing the budget's dual focus on enhancing infrastructure and supporting social and environmental initiatives. «The budget smartly navigates Assam's development path by significantly increasing capital expenditure to Rs. 16,338 crore in FY 2022-23, from Rs. 2,951 crore in FY 2015-16, demonstrating an unparalleled commitment to infrastructure. Equally commendable is the allocation of Rs. 2445.71 crore to the Agriculture Department for sustainable practices, Rs. 2369.86 crore for transforming 322 schools, and a visionary Rs. 1207.25 crore towards the Environment and Forest Department. The allocation of Rs. 40 crore for the Amrit Brikshya Andolan, aiming to plant 3 crore saplings, marks a significant step towards environmental conservation. This is in line with the global sustainability commitments he said. These figures highlight the government's balanced approach to achieving economic growth, social welfare, and environmental sustainability,» he elaborated.

OpenAI Chief Executive Sam Altman’s plan to reshape the global semiconductor industry envisions pouring vast sums into a challenge that is far more complicated than money. Manufacturing chips is enormously capital intensive. It is also one of the most intricately complex industries in the world with a history of sharp cyclical swings that have made companies wary of radical expansion.

Credit risk indicators from Janus Henderson Investors have stopped flashing all red for the first time since central banks stepped up a fight against inflation, suggesting the Federal Reserve looks increasingly likely to achieve a coveted “soft landing.”

Private equity funds last year returned the lowest amount of cash to their investors since the financial crisis 15 years ago, according to Raymond James Financial Inc., hampering buyout firms in their efforts to launch new investment vehicles. 

Hindalco Industries Ltd is seen reporting a strong double-digit growth in profit for the quarter ended December, led by robust operational performance on easing costs and better realisations. The aluminium producer is likely to report an 82% year-on-year (YoY) growth in consolidated net profit for the quarter to Rs 2,545 crore, according to the average of estimates given by six brokerage firms.

India Inc has come in full support of the idea of 'One Nation One Election' as it would synchronize electoral cycles at the central and state levels, thus enhancing governance efficiency and fostering economic development. Representatives from industry bodies FICCI and CII recently met a high-level committee on One Nation One Election chaired by former President Ram Nath Kovind and briefed the panel on its benefits.

Vedanta double the operating profit made on each tonne of aluminium going ahead, said John Slaven, chief executive officer for Vedanta Aluminium. India’s consumption of aluminium is likely to double in 5 years at the current growth rate, and Vedanta will look at maintaining its market share while focusing on sustainability, Slaven told ET in an interaction. Edited excerpts:

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Hero MotoCorp Ltd’s shares hit a 52-week high of ₹4,949.05 apiece in early trading hours on Monday, but proceeded to close nearly 5% lower with broader markets remaining weak. While the two-wheeler maker’s December-quarter (Q3FY24) results were decent, the road ahead appears anything but smooth. In Q3, a sequential volume growth of 3% coupled with flat average selling price meant a 3% rise in operating revenue to ₹9,724 crore.

Shirdi, which could result in a surge in ridership as a result. This announcement was made during his participation in the inauguration of the refurbished Mela Bus terminus of the Maharashtra State Road Transport Corporation (MSRTC) in Nashik. Originally, the Nashik-Pune semi-high-speed rail project intended to traverse Nashik-Sangamner-Pune, spanning a distance of 235 km, with an estimated cost of Rs 16,000 crore. The Nashik-Pune semi-high-speed rail project is being implemented by Maharashtra Rail Infrastructure Development Corporation Limited, a joint venture between the Government of Maharashtra and the Ministry of Railways. The alteration in the route to include Shirdi adds an additional 30 km to the Nashik-Pune route. Fadnavis explained that discussions with Railway Minister Ashwini Vaishnaw revealed that the initial route would escalate project costs substantially due to extensive tunneling requirements, a challenge alleviated by the new route.

Investing.com — Diamondback Energy (NASDAQ:FANG) and Endeavor Energy Resources have agreed to merge in a transaction valued at approximately $26 billion, the firms announced on Monday.

Retik Finance, a relatively new token, has gained attention in recent months, with some analysts dubbing it as the potential successor to Solana. Let us delve into the features, developments, and potential of Retik Finance to assess whether it has what it takes to emulate Solana’s success.

Ukraine since the Russian invasion on February 24, 2022, tens of thousands of soldiers and civilians have lost their lives. The exact number of casualties is impossible to establish, with both sides giving little information about their losses, to avoid undermining morale among the troops and wider public. The UN's human rights office said in mid-January it had confirmed the deaths of 10,382 civilians in Ukraine and a further 19,659 injured since Russia's invasion but that the real number was likely higher.

air taxis, reminiscent of ground-based rideshare services like Uber and Ola, are set to redefine urban transportation dynamics. Speaking at the Bharat Mobility Global Expo, Kento Ogura, Assistant Manager at Suzuki Motor, revealed the company's strategic plans to TOI. The debut of the SkyDrive, featuring 12 units of motors and rotors, is slated for the 2025 Osaka Expo in Japan.

Zomato actually has several other revenue streams and significant ‘other Income’. While the company has done well to tighten operations to improve margins, revenue growth–more orders, more users–depends on consumption. Excellent third-quarter results with high growth confirm anecdotal evidence about a consumption rebound in certain segments of the economy.

Hero Group's renewable energy arm, Hero Future Energies (HFE) is actively exploring opportunities in green hydrogen projects in India, according to a report of ETenergyworld. The group may soon make a an announcement in this regard in the coming months, HFE' Global Chief Executive Officer Srivatsan Iyer told the website. Iyer said, “Green hydrogen is a focal area of interest for us. We are actively engaging with various customers across India to explore diverse project opportunities. We anticipate making some announcements in the coming months as these discussions progress and materialise into concrete initiatives.”

«Maybe we are entering into demand month, so prices may go up a little bit. But it is not going to be that steep increase in this quarter,» says Arun Shukla, President & Director, JK Lakshmi Cement. And surely a very good set of numbers, whether you look at it year on year basis or sequentially. But let us talk about realisations is what I want to start with. Because cement prices, they have started seeing a decline since the month of November. Now, what channel checks are suggesting that cement companies may actually take a bit of a price hike as well? Is that something you would concur with? What is your view on this? Yes, we had a very good set of numbers last quarter and kind of actions which we have taken in the last few quarters, that is getting realised now.

By Clyde Russell