Maharashtra does away with free housing for slum dwellers, to charge Rs 2.5 lakh
May 26th, 2023 14:27
The decision to charge Rs 2.5 lakh as construction cost will not burden slum dwellers as they will now receive assistance from the Pradhan Mantri Awas Yojana scheme. It is expected to benefit over 1 million families residing in slums, say officials. The move comes ahead of the civic, Lok Sabha and state elections next year.
SAIL Q4 Results: Firm reports over 50% fall in net profit
May 26th, 2023 13:27
SAIL, the state-owned steel company, has reported a 50% decline in its consolidated net profit to INR 1,159.21 crore for the quarter ending 31st March. The company believes that this has been caused by lower income, although it highlighted that crude steel production increased by 7.6% YoY to 4.95 MT. However, its sales were down at 4.68 MT in comparison to last year's 4.71 MT. It has also announced a final dividend of Re 0.50 per share for FY23 and warned of high coal prices and volatile steel prices that impacted its margins.
Vodafone Idea shares climb nearly 3% as Q4 loss narrows
May 26th, 2023 13:27
VIL recorded the first ever annual growth in revenue from operations post merger. The company's consolidated revenue from operations grew 9.5 per cent to Rs 42,177.2 crore from Rs 38,515.5 crore a year ago.
Indian bond yields edge up before debt sale, US peers rise further
May 26th, 2023 13:27
Rising US yields and upcoming debt sales overshadowed Indian government bonds as yields edged up slightly. The US labour market is continuing to show strength, with more Americans filing new claims for unemployment benefits. Economists predict that India's economy will grow by around 6% this fiscal year, but inflation and lower growth are the biggest threats
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