Investment – The News Insight https://enewsinsight.com English Fortnightly. Daily Epaper. 100-Word Edit. Fact Check. Voice of Social Media. Thu, 09 Jan 2020 10:28:24 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.5 https://enewsinsight.com/wp-content/uploads/2019/06/cropped-TNI-32x32.png Investment – The News Insight https://enewsinsight.com 32 32 Odisha Govt gives nod to 3 investment proposals worth Rs 17,833 crore https://enewsinsight.com/odisha-govt-gives-nod-3-investment-proposals-worth-rs-17833-crore/ Thu, 09 Jan 2020 10:02:31 +0000 https://enewsinsight.com/?p=25492

TNI Bureau: The Odisha Government on Thursday gave its nod to three key investment projects worth Rs 17,833 crore. The projects are expected to generate around 6,539 jobs in the State. At the 21st High Level Clearance Authority (HLCA) meeting held at Kharvel Bhawan in Bhubaneswar today, Chief Minister Naveen Patnaik approved expansion projects of […]

The post Odisha Govt gives nod to 3 investment proposals worth Rs 17,833 crore appeared first on The News Insight.

]]>

TNI Bureau: The Odisha Government on Thursday gave its nod to three key investment projects worth Rs 17,833 crore.

The projects are expected to generate around 6,539 jobs in the State.

At the 21st High Level Clearance Authority (HLCA) meeting held at Kharvel Bhawan in Bhubaneswar today, Chief Minister Naveen Patnaik approved expansion projects of HINDALCO, NTPC and Rungta Mines.

The Hindalco proposal will set up a 2MTPA plant in Rayagada district with an investment of ₹8000-crore providing employment to about 4,250 people.

It also approved the proposal of NTPC Ltd for expansion of thermal power plant capacity of Talcher thermal power plant with additional investment of Rs 7698 crore.

The proposal of Rungta Mines Ltd. (RML) to expand its integrated Steel Plant from 0.27 MTPA to 0.9 MTPA capacity at village-Kamanada in Sundargarh dist with total investment of Rs. 2135 crore providing additional employment of 2289 people was also approved by HLCA.

The post Odisha Govt gives nod to 3 investment proposals worth Rs 17,833 crore appeared first on The News Insight.

]]>
Cabinet approves strategic disinvestment in Neelachal Ispat Nigam Limited https://enewsinsight.com/cabinet-approves-strategic-disinvestment-in-neelachal-ispat-nigam-limited/ Wed, 08 Jan 2020 10:42:26 +0000 https://enewsinsight.com/?p=25448

TNI Bureau: The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Narendra Modi has given ‘in principle’ approval for strategic disinvestment of equity shareholding in Neelachal Ispat Nigam Limited (NINL) of Odisha. The Union Cabinet on Wednesday cleared several proposals including in-principle strategic disinvestment of equity shareholding in five small PSUs – Minerals […]

The post Cabinet approves strategic disinvestment in Neelachal Ispat Nigam Limited appeared first on The News Insight.

]]>

TNI Bureau: The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Narendra Modi has given ‘in principle’ approval for strategic disinvestment of equity shareholding in Neelachal Ispat Nigam Limited (NINL) of Odisha.

The Union Cabinet on Wednesday cleared several proposals including in-principle strategic disinvestment of equity shareholding in five small PSUs – Minerals & Metals Trading Corporation Limited (MMTC) (49.78%), National Mineral Development Corporation (NMDC) (10.10%), MECON (0.68%), Bharat Heavy Electricals Ltd. (BHEL) (0.68%) and two Odisha State Government PSUs; Industrial Promotion and Investment Corporation of Odisha Ltd. (IPICOL) (12.00%) and Odisha Mining Corporation (OMC) (20.47%) in Neelachal Ispat Nigam Limited (NINL) to a strategic buyer, identified through a two-stage auction procedure.

NINL is a Joint Venture company, in which four CPSEs namely MMTC, NMDC, BHEL and MECON and 2 State PSUs of Odisha Government, namely IPICOL and OMC are shareholders.

The proposed strategic disinvestment of NINL would unlock resources to be used to finance the social sector/developmental programmes of the Government benefiting the public. It is also expected that the successful strategic buyer may bring in new management/technology/investment for the growth of the company and may use innovative methods for the development of the business operations of the company, which may generate more employment opportunities.

 

The post Cabinet approves strategic disinvestment in Neelachal Ispat Nigam Limited appeared first on The News Insight.

]]>
India News At 6 PM @ June 9 https://enewsinsight.com/india-news-at-6-pm-june-9/ Mon, 09 Jun 2014 12:30:17 +0000 http://www.enewsinsight.com/?p=17070 1) Pakistan Taliban has claimed responsibility for the deadly attack on Karachi Airport, which left 29 people, including 12 militants dead. 2) A four-member SIT led by Tughlaq Road sub-division ACP Sukhraj Kateva, has been formed to probe former Union Rural Development Minister Gopinath Munde’s death in a road mishap in Delhi last week. The […]

The post India News At 6 PM @ June 9 appeared first on The News Insight.

]]>
RCom1) Pakistan Taliban has claimed responsibility for the deadly attack on Karachi Airport, which left 29 people, including 12 militants dead.

2) A four-member SIT led by Tughlaq Road sub-division ACP Sukhraj Kateva, has been formed to probe former Union Rural Development Minister Gopinath Munde’s death in a road mishap in Delhi last week. The SIT will look into all aspects related to the mishap.

3) The Reliance Communications (RCom) has launched ‘One India One Rate Plans’ that will allow customers to pay the same rate for local, STD and roaming calls from anywhere in India.

4) Four people have been arrested in Aurangabad (Maharashtra) for circulating objectionable materials on WhatsApp. Some more arrests could be made in connection with inflammatory Facebook posts.

5) The Congress Party has nominated Rajeev Gowda and BK Hariprasad for Rajya Sabha from Karnataka. Veteran Congress leader SM Krishna failed to get the RS nod this time.

6) The Foreign Institutional Investors (FIIs) have pumped in Rs 1 lakh crore into the Indian market so far this year (2014). A net investment of Rs 11,625 crore was reported in the first week of June itself.

7) India’s ace Tennis star Sania Mirza has achieved her career-best ranking of six in Women’s Doubles.

8) Senior BJP leader and Union Finance/Defence Minister Arun Jaitley will be the Leader of the House in Rajya Sabha.

9) Hindu Rashtra Sena (HRS) chief Dhananjay Desai, who was arrested in connection with the murder of IT Professional Mohsin Sadiq Shaikh in Pune, has been remanded to judicial custody, as he did not apply for bail.

10) The Uttar Pradesh Government has decided to host an Investors Conclave in Delhi on June 12. Ambassadors of USA, Canada, Germany and Italy are expected to attend the conclave.

The post India News At 6 PM @ June 9 appeared first on The News Insight.

]]>
BSE Sensex on a New High https://enewsinsight.com/bse-sensex-on-a-new-high/ https://enewsinsight.com/bse-sensex-on-a-new-high/#respond Thu, 16 May 2013 06:11:30 +0000 http://www.enewsinsight.com/?p=11312 After gaining 490 points on Wednesday, the BSE Sensex surged further today, thanks to the positive signs in global market and investment sector. The Sensex went up by 100 points in the early trade to reach 20,316.41. The Sensex has already touched the 28-month high, bringing cheers to the investors. Shares of Adani Ports, Reliance […]

The post BSE Sensex on a New High appeared first on The News Insight.

]]>
After gaining 490 points on Wednesday, the BSE Sensex surged further today, thanks to the positive signs in global market and investment sector. The Sensex went up by 100 points in the early trade to reach 20,316.41.

The Sensex has already touched the 28-month high, bringing cheers to the investors. Shares of Adani Ports, Reliance Infra, Jaiprakash Associates and Yes Bank showed signs of good improvement today.

Among the banks, ICICI Bank and SBI were among the gainers. Oil India and Bank of Baroda too registered growth, while shares of TCS and Infosys fell marginally.

The post BSE Sensex on a New High appeared first on The News Insight.

]]>
https://enewsinsight.com/bse-sensex-on-a-new-high/feed/ 0
Sahara gets Big Jolt, while Investors Celebrate https://enewsinsight.com/sahara-gets-big-jolt-while-investors-celebrate/ https://enewsinsight.com/sahara-gets-big-jolt-while-investors-celebrate/#respond Sat, 01 Sep 2012 08:52:55 +0000 http://www.enewsinsight.com/?p=1980 TNI Bureau: The Supreme Court ordered two of the Sahara Group’s companies to refund Rs 17,400 crore with 15 per cent interest, to more than two crore small investors, who had invested in their optionally fully convertible debentures (OFCD) between 2008 and 2011.  It was  a huge blow to Sahara’s real estate firms, but the […]

The post Sahara gets Big Jolt, while Investors Celebrate appeared first on The News Insight.

]]>
TNI Bureau: The Supreme Court ordered two of the Sahara Group’s companies to refund Rs 17,400 crore with 15 per cent interest, to more than two crore small investors, who had invested in their optionally fully convertible debentures (OFCD) between 2008 and 2011.  It was  a huge blow to Sahara’s real estate firms, but the verdict brought cheer for the investors.

The apex Court ruled that – Saharas had violated the listing provisions and collected huge amounts from the public in disobedience of law. The bench of Justices K S Radhakrishnan and K S Khehar asked SEBI to examine the issues relating to genuineness of investors and refund while also giving it the liberty to attach the companies’ properties and freeze their bank accounts, besides other legal actions, if they failed to pay back.

The SEBI had indicted them for raising funds from the public through the OFCD scheme without adhering to prudent disclosure and other investor protection norms governing such public issues.

Earlier in the nineties RBI had slashed the company’s discretionary investment powers. But it soon revived. The next blow came in 2006 when its depository services firm had to be shut down. Again, the group was unperturbed. For the third time in 2008 when the central bank left Sahara India Financial Corporation with no choice but to wind down then also the group managed to overcome it. Reports offer that the chairman is well enough to gain from politicians and Bollywood stars.

The post Sahara gets Big Jolt, while Investors Celebrate appeared first on The News Insight.

]]>
https://enewsinsight.com/sahara-gets-big-jolt-while-investors-celebrate/feed/ 0
Odisha emerges as top FDI Destination: Assocham https://enewsinsight.com/odisha-emerges-as-top-fdi-destination-assocham/ https://enewsinsight.com/odisha-emerges-as-top-fdi-destination-assocham/#respond Tue, 28 Aug 2012 07:43:39 +0000 http://www.enewsinsight.com/?p=1848 TNI Bureau: Odisha has emerged as the top destination for foreign direct investment (FDI) with the proposals worth Rs. 49,527 crore, while developed states like Andhra Pradesh and Gujarat stood second and third respectively in the list. The state remained number one choice for the overseas investors during the financial year 2011-12 even being ignored […]

The post Odisha emerges as top FDI Destination: Assocham appeared first on The News Insight.

]]>
TNI Bureau: Odisha has emerged as the top destination for foreign direct investment (FDI) with the proposals worth Rs. 49,527 crore, while developed states like Andhra Pradesh and Gujarat stood second and third respectively in the list.

The state remained number one choice for the overseas investors during the financial year 2011-12 even being ignored by the Centre to get special packages.

According to top industry body Assocham, Odisha has received 17 FDI proposals worth about Rs 49,527 crore in the total FDI proposed across the country.

While Odisha bagged 21 per cent total FDI, Andhra got 19 per cent (Rs 33,936 crore for 70 proposals) and Gujarat 11 per cent (Rs 20,258 crore for 131 proposals).

India received a total of 763 FDI proposals worth over Rs. 1.78 lakh crore during 2011-12. While Odisha became the favourite destination for the investors, states like Gujarat and Andhra failed to attract the overseas investors’ attention.

Chattisgarh and Karnataka placed fourth and fifth in the list of top five investment destinations with FDI proposals worth over Rs. 20,000 crore and 14,000 crore, respectively.

The post Odisha emerges as top FDI Destination: Assocham appeared first on The News Insight.

]]>
https://enewsinsight.com/odisha-emerges-as-top-fdi-destination-assocham/feed/ 0
Barack Obama’s Take on Investment in India https://enewsinsight.com/barack-obamas-take-on-investment-in-india/ https://enewsinsight.com/barack-obamas-take-on-investment-in-india/#respond Sat, 28 Jul 2012 06:13:35 +0000 http://www.enewsinsight.com/?p=1218 By Hemanta Pande: In a recent interview to the Press Trust of India (PTI) in Washington, US President Mr. Barack Obama said, “Many in the American business community had expressed concerns that the investment climate in India is deteriorating.” “They tell us it is still too hard to invest in India. In too many sectors, […]

The post Barack Obama’s Take on Investment in India appeared first on The News Insight.

]]>
By Hemanta Pande: In a recent interview to the Press Trust of India (PTI) in Washington, US President Mr. Barack Obama said, “Many in the American business community had expressed concerns that the investment climate in India is deteriorating.”

“They tell us it is still too hard to invest in India. In too many sectors, such as retail, India limits or prohibits the foreign investment that is necessary to create jobs in both our countries, and which is necessary for India to continue to grow.” He added.

However, Mr. Obama was careful not to be directly critical of the negative investment climate in India but cited the concerns of the American business community to make his point.

It is to be noted that, last year, Manmohan Singh Government was forced to reverse a decision to allow foreign direct investment (FDI) in the $450 billion retail sector after Trinamool Congress, a key ally of the government, opposed the proposal.

Responding to Obama’s remarks, Commerce and Industry Minister, Anand Sharma said, “There is always a difference between perception and reality.” He also confirmed that India remains one of the most attractive destinations for foreign investors. In last financial year, India received FDI in excess of $50 billion. It was more than 34 pc or 35 per cent higher than the previous years.

Corporate Minister Veerappa Moily said, Mr Obama was not properly informed and blamed “international lobbies like Vodafone” for spreading negative information, particularly when India’s economic fundamentals are strong.

Meanwhile, in its recent report, the United Nations Conference on Trade and Development (UNCTAD) has stated that India is among the top three FDI destinations. The Japanese Bank for International Cooperation’s (JBICs) recent report placed India at number two and in the long-term, they have put India at number one. Ernst & Young has also said that over 4/5th of the FDI in South Asia came into India.

The Communist Party of India (Marxist) also pointed out that, Mr. Obama’s remark is a brazen attempt to put pressure on the UPA government to open FDI in retail sector. The CPI(M) urges the government not to open up retail trade in foreign supermarket chains, which will endanger the livelihoods of millions of small shopkeepers and traders in our country.

In fine, it is not exaggerate to say that Mr. Obama’s observation on FDI as the panacea for India’s economy is the interest of US, not India. With the American economy in dire straits, it would suit American investors to park their capital in the largest market of the world and accumulate more profit.

The post Barack Obama’s Take on Investment in India appeared first on The News Insight.

]]>
https://enewsinsight.com/barack-obamas-take-on-investment-in-india/feed/ 0