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<keyword id="45008" type="General" weightage="20" keywordseo="tata-power" source="Orion">Tata Power</keyword> is up 12 per cent in trade on Thursday after an upgrade by a brokerage. Tata Power is trading at Rs 329 on BSE up by 12 per cent. JM Financial Institutional Securities said in a research that Tata Power's recalibrated strategy involves tapping high-margin group captive RE (renewables) opportunities, exiting low-value businesses, venturing into brownfield pumped hydro storage, and expanding transmission business beyond distribution. This, coupled with the visible resolution of the <keyword id="66822" type="General" weightage="80" keywordseo="mundra" source="Orion">Mundra</keyword> issue, positions the company for accelerated growth. We forecast Revenue/EBITDA/PAT CAGR of 15%/23%/32% respectively over FY23-26E, supported by increasing asset base and improved margin profile. "We upgrade the stock's rating to Buy, setting an SOTP-based TP of INR 350, indicating a potential upside of 24% from current levels", JM Financial said in a note.

Tata Power stock zooms ahead after brokerage on upgrade

<ul><li><keyword id="841459" type="General" weightage="20" keywordseo="APSEZ" source="Orion">APSEZ</keyword> witnessed a 62% YoY growth in rail cargo through the Indian Railways' General Purpose Wagon Investment Scheme. </li><li><keyword id="46519" type="General" weightage="80" keywordseo="mundra-port" source="Orion">Mundra Port</keyword>, operating under APSEZ, has managed over 15,000 container trains in FY23.</li><li>Mundra Port witnessed a 4.3% year-on-year growth in double-stack container trains in FY23.</li></ul><keyword id="1697348" type="General" weightage="20" keywordseo="Adani-Ports-and-Special-Economic-Zone" source="Orion">Adani Ports and Special Economic Zone</keyword> (APSEZ), the flagship company of Adani Group, handled the highest ever rail cargo of 120.51 million metric tonnes (MMT) in FY23. It had handled a volume of 98.61 MMT in FY22. APSEZ witnessed a 62% YoY growth in rail cargo through the Indian Railways' General Purpose Wagon Investment Scheme (GPWIS). Mundra Port managed over 15,000 container trains in FY23. In FY23, APSEZ generated an impressive revenue of approximately ₹14,000 crore from rail cargo operations in collaboration with Indian Railways. Mundra Port witnessed a 4.3% year-on-year growth in double-stack container trains in FY23. The utilization of the double stack loading technique for containers on trains ensures energy efficiency and reliability in transportation, leading to reduced per unit cost and enhanced customer satisfaction, the company said. The company said that Mundra Port’s utilization of rail transport significantly reduces the carbon footprint associated with freight transportation. Moreover, the efficient handling of container trains minimizes the reliance on additional truck transport, leading to further reductions in carbon emissions. APSEZ, a subsidiary of Adani Group, has transformed from a port company into an Integrated Transport Utility, offering end-to-end solutions from its port gate to the customer gate. It holds the distinction of being India's largest port developer and operator, with six strategically positioned <keyword id="6413000" type="General" weightage="80" keywordseo="ports" source="Orion">ports</keyword> and terminals on the west coast (Mundra, Dahej, Tuna, and Hazira in Gujarat, Mormugao in Goa, and Dighi in Maharashtra). It also has five ports and terminals on the east coast of India (Dhamra in Odisha, Gangavaram, and Krishnapatnam in Andhra Pradesh, and Ennore, Karaikal, and Kattupalli in <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>). These ports and terminals account for 24% of the country's total port volumes, enabling the handling of significant amounts of cargo from coastal regions and the hinterland.

Adani Ports records highest-ever rail cargo of over 120 mmt in FY23

Megastar Amitabh <keyword id="6354348" type="General" weightage="100" keywordseo="bachchan" source="Orion">Bachchan</keyword> on Monday expressed gratitude towards his well wishers for their concerns and prayers as he recuperates from an on-set injury. The 80-year-old actor took to his official Instagram page and shared an old picture of him walking the ramp at a fashion show, hoping to get back to the grind soon. "Thank you for all the prayers and wishes for my recovery... I repair... hope to be back on the ramp soon," Bachchan wrote in the caption. In a previous post on his personal blog, the screen icon said he continues to be in "extreme pain". "the rib continues in its painful journey .. but another erupts at the toe and draws attention greater than the rib .. so .. the rib diminishes and the attention drifts to the toe... "a blister under the callus .. never heard or experienced before, but there it is and yes extreme pain .." he added. In the March 5 post on his blog, the industry veteran said he injured himself while filming an action sequence on the Hyderabad set of his upcoming movie "Project K". "In Hyderabad at the shoot for Project K, during an action shot, I have got injured .. rib cartilage popped broke and muscle tear to the right rib cage .." he said. Before flying back to Mumbai, Bachchan said the doctor at a Hyderabad-based hospital, where he underwent a CT scan, advised him to rest. The shooting on Nag Ashwin's "Project K" and other commitments Bachchan is involved in is on hold. Also starring <keyword id="104063" type="General" weightage="50" keywordseo="prabhas" source="Orion">Prabhas</keyword> and Deepika Padukone, the film will hit the screens on January 12, 2024. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-i/o-2023-pixel-7a-pixel-fold-pixel-tablet-android-14-and-everything-we-expect-to-see/articleshow/98798666.cms">Google I/O 2023 – Pixel 7a, Pixel Fold, Pixel Tablet, Android 14, and everything we expect to see</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/everything-that-gautam-adani-has-done-to-win-back-investor-confidence/slidelist/98279094.cms">Hindenburg effect: Adani group suspends work on ₹34,900 crore Mundra petchem project</a>

Amitabh Bachchan says he will 'back on ramp soon', after on-set injury

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> fell by nearly 1% each on Monday morning amid negative cues from global markets. </li><li>IT, metal and auto sectors witnessed the most decline, while the realty sectoral index was the only one in the green in the first hour of trading today. </li><li><keyword id="90570" type="General" weightage="80" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was down 0.17% or 30 points early in the morning today. </li></ul>India’s benchmark indices Sensex and Nifty50 fell by nearly 1% each on Monday morning amid negative cues from global markets. IT, metal and auto sectors witnessed the most decline, while the realty sectoral index was the only one in the green in the first hour of trading today. SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>, an early indicator of how the markets may perform, was down 0.17% or 30 points early in the morning today. As of 10:15 a.m. on Monday, the 30-stock Sensex was down 0.9% or 490 points to 58,366, while the 50-stock Nifty50 was down 0.9% or 155 points to 17,311. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.88% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.98% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.73% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.83% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.66% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.06% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.60% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.94% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.46% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.45% </td></tr></tbody></table> Source: NSE, as at 10:15 a.m., February 27, 2023 Earlier last week, Indian markets continued to witness heightened volatility amid increased fears of further rate hikes by the US Fed and consequently the Reserve Bank of India. While Sensex fell 2.91%, Nifty50 declined 2.61% last week. <cmsannotation type="cmsannotation" annotationid="US markets singe on hot inflation" comment="subhead" text="US markets singe on hot inflation">US markets singe on hot inflation</cmsannotation> Markets in the US singed on Friday due to hot inflation numbers raising fears of another rate hike by the US Fed. While the S&amp;P 500 fell 1.05%, Dow Jones Industrial Average fell 1.02%. The tech-heavy Nasdaq fell 1.69%. Most Asian markets were trading in the red on Monday morning, with KOSPI falling the most at 0.83%, followed by Taiwan Weighted which was down 0.72%. Nikkei 225 fell 0.18%, while Hang Seng was flat. Shanghai Composite was the only gainer at 0.22%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="895682" type="General" weightage="80" keywordseo="adani-ports" source="Orion">Adani Ports</keyword> &amp; SEZ: The company’s cargo volumes have crossed 330 million metric tonne (mmt) in 329 days, beating its own milestone from last year of 354 days. <keyword id="66822" type="General" weightage="80" keywordseo="mundra" source="Orion">Mundra</keyword> continues to be the largest port in the country in terms of volumes handled. <keyword id="6358032" type="General" weightage="100" keywordseo="spicejet" source="Orion">SpiceJet</keyword>: The low cost carrier posted a <a href="https://www.businessinsider.in/business/corporates/news/spicejets-q3-net-profit-jumps-162-to-110-crore-on-air-travel-recovery-shares-surge-13/articleshow/98211990.cms">162% surge in net profit </a>to ₹110 crore for the December quarter compared with ₹42 crore last year aided by a robust performance in its passenger and cargo business. <keyword id="2351966" type="General" weightage="80" keywordseo="interglobe-aviation" source="Orion">InterGlobe Aviation</keyword>: More than 50 planes of Indigo and Go First are on the ground due to Pratt and Whitney engine woes amid persisting supply chain issues. Edelweiss Financial Services: The company has received shareholders approval to demerge its wealth management services business paving way to list Nuvama Wealth Management. One 97 Communications (Paytm): Ant Group Co is considering selling some of its shares in the financial services company to keep its holding within a required threshold, according to reports. SEE ALSO: <a href="https://www.businessinsider.in/india/news/after-jammu-karnataka-next-in-turn-for-good-news-on-lithium-in-mandya/articleshow/98244881.cms">After Jammu, Karnataka next in turn for good news on lithium in Mandya</a> <a href="https://www.businessinsider.in/careers/news/dgca-plans-to-hire-400-tech-staff-in-1-2-years-increase-offices-to-19-arun-kumar/articleshow/98248431.cms">DGCA plans to hire 400 tech staff in 1-2 years; increase offices to 19: Arun Kumar</a> <a href="https://www.businessinsider.in/tech/news/iit-madras-to-establish-100-crore-innovation-entrepreneurship-fund/articleshow/98244674.cms">IIT Madras to establish ₹100 crore Innovation &amp; Entrepreneurship fund</a>

Sensex, Nifty50 decline as IT, metal and auto stocks plummet

Passenger car major <keyword id="44883" type="General" weightage="100" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India Ltd had transported over 3.2 lakh vehicles in 2022 through Indian Railway and is setting up dedicated railway sidings at its facilities in Haryana (Manesar) and Gujarat, said a top company official. The company last year transported over 3.2 lakh vehicles using rail wagons, the highest in a calendar year since 2013 when the company got the Automobile Freight Train Operator (AFTO) license. "Going forward, we aim to further increase these numbers. For this, we are setting up dedicated railway sidings at our facilities in Haryana (Manesar) and Gujarat," <keyword id="13455711" type="General" weightage="50" keywordseo="hisashi-takeuchi" source="Orion">Hisashi Takeuchi</keyword>, Managing Director &amp; CEO, said. "Aligned with the Government of India's aim to reach net zero emissions by 2070, we have enhanced our efforts to reduce carbon footprint in our business operations. Our strategy to increase the use of rail mode in outbound logistics has resulted in dispatching record 3.2 lakh vehicles using railways in CY2022," he said. According to him, the use of railway wagons instead of trucks has resulted in offsetting around 1,800 MT of CO2 emissions. "In addition, we have been able to save over 50 million litres of fuel during the year which contributes to enhancing the energy security of our country," <keyword id="333559" type="General" weightage="50" keywordseo="takeuchi" source="Orion">Takeuchi</keyword> remarked. The share of railways in carrying Maruti Suzuki's cars is on the rise and last calendar year it was 17.1 per cent up from 13.9 per cent/2.2 lakh units in 2021. The AFTO license allows Maruti Suzuki to fabricate and operate high speed, high capacity autowagon rakes on the Indian Railways network. Maruti Suzuki uses 40 specially designed railway rakes to transport vehicles across the country. Each rake has a capacity to carry over 300 vehicles. Presently, the company uses loading terminals across Delhi-NCR and Gujarat and 18 destination terminals - Bangalore, Nagpur, Mumbai, Guwahati, <keyword id="46519" type="General" weightage="50" keywordseo="mundra-port" source="Orion">Mundra Port</keyword>, Indore, Kolkata, Chennai, Hyderabad, Ahmedabad, Delhi-NCR, Siliguri, Coimbatore, <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword>, Agartala, Silchar, Ranchi and Ludhiana- Maruti Suzuki said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/french-automaker-citroen-has-unveiled-its-ec3-electric-hatchback-ahead-of-its-india-launch/slidelist/97048865.cms">Citroen eC3 electric hatchback unveiled – range, booking date, and everything you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mahindra-xuv400-electric-suv-launched-starting-at-15-99-lakh-range-specs-and-more/slidelist/97046819.cms">Mahindra XUV400 electric SUV launched starting at ₹15.99 lakh – range, specs and more</a>

Maruti Suzuki to increase transport of cars through rail wagons, to set up dedicated railway sidings

The annual premium amount for 31 life insurance policies of <keyword id="55334" type="General" weightage="50" keywordseo="arpita-mukherjee" source="Orion">Arpita Mukherjee</keyword>, perceived to the closest confidant of former minister <keyword id="6360499" type="General" weightage="50" keywordseo="partha-chatterjee" source="Orion">Partha Chatterjee</keyword> in the multi-crore <keyword id="1471058" type="General" weightage="50" keywordseo="west-bengal-school-service-commission" source="Orion">West Bengal School Service Commission</keyword> (WBSSC) scam, is to the tune of Rs 1.5 crore, according to the <keyword id="6357808" type="General" weightage="50" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED). The figure was quoted by the probe agency in its first charge sheet that was submitted to a special ED court on Monday. It is also mentioned that Chatterjee himself was the nominee for most of these life insurance policies. What is more interesting is that such a huge premium was paid from the different bank accounts of the former state education minister, as per records of bank statements recovered by the central agency sleuths. In these policies, Chatterjee was mentioned as <keyword id="6364914" type="General" weightage="100" keywordseo="mukherjee" source="Orion">Mukherjee</keyword>'s uncle. "This entire sequence of insurance policies and their payment process are proof enough to nullify the argument raised by some sections that Partha Chatterjee and Arpita Mukherjee were mere acquaintances. These life insurance policies are solid proof of how intimate the two were," said an ED official. Apart from these lpolicies, some other land property jointly owned by Chatterjee and Mukherjee will also come handy for the central agency sleuths to establish the intimate relationship between the duo, the official noted. In the charge sheet, the ED hasnamed a total eight persons -- Chatterjee, Mukherjee and six directors of shell companies floated with the purpose of diverting scam proceeds to different channels. The probe agency has mentioned assets worth Rs 103.10 crore held by Chatterjee and Mukherjee. ED officials said that the assets include cash amounting to Rs 49.80 crore and gold worth Rs 5.08 crore seized from the two residences of Mukherjee in Kolkata in July. The remaining amount is in the form of other immoveable assets like bank deposits, property in the form of land and residences and investment in a number of companies. It has also named Chatterjee and Mukherjee as the prime accused in the scam. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/directorate-of-revenue-intelligence-seizes-e-cigarettes-worth-48-crore-from-mundra-port/articleshow/94316683.cms">Directorate of Revenue Intelligence seizes e-cigarettes worth ₹48 crore from Mundra port</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/all-about-super-earths-their-dwarf-stars-and-how-theyre-more-habitable-than-our-earth/articleshow/94317934.cms">All about Super-Earths, their dwarf stars and how they're more habitable than our earth</a>

Arpita Mukherjee has 31 life insurance policies with ₹1.5 cr annual premium: ED

Cars24 founder, Kunal Mundra on skipping the recent IPO frenzy

New Delhi, Automobile major <keyword id="6365618" type="DOMAIN" weightage="20" keywordseo="maruti-suzuki-india">Maruti Suzuki India</keyword> has commenced export of Suzuki's compact off-roader Jimny from India. Accordingly, the first shipment of 184 units left from <keyword id="46519" type="DOMAIN" weightage="20" keywordseo="Mundra-Port">Mundra port</keyword> to Latin American countries such as Columbia and Peru. Besides, the three-door <keyword id="6610627" type="PERSON" weightage="20" keywordseo="suzuki-jimny">Suzuki Jimny</keyword> will also be exported to the Middle East and African markets from India, the company said on Wednesday. The current generation of Jimny was launched in 2018 by <keyword id="100743" type="COMPANY" weightage="20" keywordseo="Suzuki-Motor-Corporation">Suzuki Motor Corporation</keyword> in Japan. The all-terrain vehicle has a legacy of over 50 years, catering to customers worldwide. According to the company, with India as a production base for Jimny, Suzuki aims to leverage <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>'s global production stature. The company pointed out that there is a large customer demand worldwide well beyond Suzuki Japan capacity for this model and the Indian manufacturing will supplement capacity to meet this global demand. "Jimny manufactured at Maruti Suzuki's Gurugram plant shares the same specification as the export models produced at the Suzuki Motor Corporation's Kosai plant in Japan," said Kenichi Ayukawa, Managing Director &amp; CEO, Maruti Suzuki India. "We are confident with Jimny we will be able to enhance our overall exports." SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms?upcache=2">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a> <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphone-deals-and-discount-on-amazon-great-republic-day-sale/articleshow/80358909.cms">Best smartphone deals and offers on Amazon Great Republic Day Sale</a>

Maruti begins the export of its 'made in India' compact off-roader SUV Jimny

<keyword id="45008" type="DOMAIN" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> on Wednesday put its decision to shut operations at its 4,000 MW Mundra ultra mega power project (UMPP) on hold till March 20, in expectation of an acceptable solution for all parties over pass through of higher coal prices. Earlier, Tata Power arm Coastal <keyword id="1993775" type="COMPANY" weightage="20" keywordseo="Gujarat-Power-Ltd">Gujarat Power Ltd</keyword> (CGPL) which operates 4,000 MW Mundra plant had served notices to discoms of Gujarat, Haryana, Rajasthan, Punjab and Maharashtra stating that its will stop supplying power from the plant from February 29 if tariff is not increased. Subsequently, the CGPL had served notices to the discoms for closure of the Mundra plant progressively from March 11 due to delay in adoption of the High Powered Committee recommendation and entering into supplemental <keyword id="511035" type="PERSON" weightage="20" keywordseo="power-purchase-agreement">power purchase agreement</keyword> (PPA). Intervening the in issue the union power secretary S N Sahai convened at meeting of all concerned parties on the issue on March 9, 2020. In a statement issued on Wednesday, the company said, "There were certain legal and contractual issues discussed pertaining to the PPA in light of the earlier and subsequent Supreme Court orders, which all parties have agreed to examine upon." The company further said, "It was agreed that the Union Power Secretary will re-convene another meeting within next 10 days so as to arrive at a decision on the same on or before March 20. "Given the positive discussions in this meeting and the intent expressed by all parties to arrive at an acceptable solution, CGPL awaits decision by 20th March and till such time normal operations of the Mundra plant will continue." In October 2018, the Supreme Court had directed the <keyword id="103658" type="COMPANY" weightage="20" keywordseo="Central-Electricity-Regulatory-Commission">Central Electricity Regulatory Commission</keyword> (CERC) to decide on changes to PPAs. The apex court had given the power regulator CERC, eight weeks to submit its decision on changes in PPAs that were signed by the three Gujarat-based power producers to reflect the higher cost of imported coal. Mundra UMPP is an imported coal-based power plant. The issue of higher coal cropped up after Indonesia changed certain regulation which increased the price of imported dry fuel. Thereafter it was not viable to supply power at the agreed tariff as per the PPA signed with the discosm by the CGPL. Tata Power has been pursing its case of pass through of higher coal prices. The company in its statement said, "The notices still remain valid and CGPL will consider appropriate decision on the notice of closure based on the outcome of these meetings. "We are reasonably confident of arriving at a solution for Mundra Plant in the next few weeks to avoid closure of the plant." The CGPL has inked PPAs to supply 1,805 MW to Gujarat, 760 MW to Maharashtra, 475 MW to Punjab, and 380 MW each to Rajasthan as well as Haryana.

Tata Power shuts down Mundra power project amidst a standoff on price hike

RBI Governor <keyword id="6375119" type="UNKNOWN" weightage="100" keywordseo="Urjit-Patel">Urjit Patel</keyword> and his deputies have got a big pay hike with the government more than doubling their basic salary to Rs 2.5 lakh and Rs 2.25 lakh per month, respectively, according to a news report by <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>. 
 
 
The "basic pay of the Governor and Deputy Governors" has been revised retrospectively with effect from January 1, 2016 and marks a huge jump from Rs 90,000 basic pay so far drawn by the Governor and Rs 80,000 for his deputies. 
 
Still, their salaries are much lower than the top executives of various banks regulated by the RBI. 
 The monthly emoluments of these top RBI officials include 'basic pay', dearness allowance and 'other payments', which totalled Rs 2,09,500 in case of <keyword id="6362344" type="PERSON" weightage="20" keywordseo="Patel">Patel</keyword> as on November 30, 2016, as per the latest information disclosed on the RBI website. 
 In response to a query by PTI under the Right to Information (<keyword id="6356198" type="ORGANIZATION" weightage="20" keywordseo="RTI">RTI</keyword>) Act, the central bank has now disclosed that as per a <keyword id="47209" type="ORGANIZATION" weightage="20" keywordseo="Finance-Ministry">Finance Ministry</keyword> communication, dated February 21, the basic pay of the Governor and Deputy Governors have been revised. 
 
Following the revision, the basic pay of the Governor stands increased to Rs 2,50,000 per month while the same for a Deputy Governor would be Rs 2,25,000, RBI said. 
 
The pay hike is "with effect from January 1, 2016". 
 
Dearness Allowance would be notified by the central government from time to time while "all other allowances (are) to be paid at existing rates as if the pay has not been received with effect from January 1, 2016," the RTI reply said. 
 
The RBI, however, did not disclose the new gross pay for Patel and his deputies following the revision in basic pay. 
 
With the earlier basic pay of Rs 90,000, Patel got a DA of Rs 1,12,500 and 'other payments' of Rs 7,000 -- totalling to a gross pay of Rs 2,09,500. The increase in the basic itself would take his gross pay to nearly Rs 3.70 lakh. 
 Patel, who took over the reins of the central bank in September 2016, had received a salary of Rs 2.09 lakh in October -- the first full month in office. This amount was same as drawn by his predecessor <keyword id="6358908" type="PERSON" weightage="20" keywordseo="Raghuram-Rajan">Raghuram Rajan</keyword> in August that year. 
 <keyword id="6355561" type="PERSON" weightage="20" keywordseo="Rajan">Rajan</keyword> assumed RBI governorship from September 5, 2013 at a monthly salary of Rs 1.69 lakh. His salary was revised to Rs 1.78 lakh and Rs 1.87 lakh respectively during 2014 and March 2015. His salary was raised to Rs 2.09 lakh from Rs 2.04 lakh in January 2016. 
 
It was not clear whether Rajan, who left RBI on September 4, 2016, would be eligible for arrears as the basic pay for Governor has been revised retrospectively while covering little more than nine months of his tenure. 
 Currently, RBI has four deputy governors -- R Gandhi, S S <keyword id="66822" type="CITY" weightage="20" keywordseo="Mundra">Mundra</keyword>, N S <keyword id="260413" type="PERSON" weightage="20" keywordseo="Vishwanathan">Vishwanathan</keyword> and Viral V Acharya. 
 
At the end of November last year, Gandhi, Mundra and Vishwanathan were taking home a basic pay of Rs 80,000 per month. Acharya took charge in January this year.

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