India will more than double the price of natural gas from Friday for the first half of this fiscal year, reflecting a surge in global prices, two sources familiar with the matter said, further stoking inflation in Asia's third largest economy.
In her reply to the finance and appropriation bills in the Rajya Sabha on Tuesday, Nirmala Sitharaman highlighted the utilisation of the various cesses.
Shares of India's Tata Coffee surged up to 12% on Wednesday after parent Tata Consumer Products said it would streamline its coffee business by merging the company with itself. Tata Consumer said the plantation business of Tata Coffee would be demerged into Tata Consumer Products' beverages and foods unit, which is known for brands like "Tata Tea" and "Tetley".
Shares of Reliance Industries Limited on Wednesday jumped nearly 2 per cent with its market valuation going past Rs 18 lakh crore mark. The market heavyweight stock climbed 1.94 per cent to settle at Rs 2,673 apiece on the BSE. During the day, it jumped 2.51 per cent to Rs 2,688.
There has been a surge in summons to top management of companies by GST authorities requiring CFOs or CXOs to be mandatorily present in person for hearings.
Sitharaman defended the 137-day hiatus in fuel price revision, saying the disruption in supply chains and the resultant increase in global oil prices due to the war in Ukraine was a "couple of weeks" phenomenon.
A delegation from Egypt will visit India in the first week of April to facilitate wheat imports as part of efforts to secure supplies and tide over shortages at one of the world's biggest importers of the staple, government sources said.
"Jammu and Kashmir will be a success story to watch out for. UAE investors are keen to invest in J&K. The state has some offerings which are unmatched. Tourism is one sector that has huge opportunities," Goyal said.
Finance minister Nirmala Sitharaman on Tuesday defended the 137-day hiatus in fuel price revision, saying the disruption in supply chains and the resultant increase in global oil prices due to the war in Ukraine was a "couple of weeks" phenomenon resulting in the record hike in petrol and diesel prices in last 8 days.