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New Delhi, <keyword id="667116" type="General" weightage="20" keywordseo="Ircon-International" source="Orion">Ircon International</keyword> Ltd, a navratna public sector enterprise and a leading turnkey construction company, on Thursday reported a 44 per cent rise in consolidated Profit After Tax (PAT) of Rs 250.8 crore in the September quarter. The company had posted a consolidated PAT of Rs 174.2 crore in the year-ago period, Ircon International said in a filing to the BSE. The company said its consolidated total income increased to Rs 3,136.3 crore in the second quarter of the ongoing fiscal from Rs 2,305.9 crore in the same quarter last year. The total order book of the company stood at Rs 32,152 crore as on September 30, it said. IRCON is engaged in the railways and highways sectors and comes under the Ministry of Railways.

Multibagger stock: Ircon International PAT rises 44% to Rs 251 crore in Q2

New Delhi, Mar 11 () State-owned NBCC (India) Ltd on Wednesday said it has bagged business orders worth Rs 128.66 crore last month. "NBCC (India) Ltd has secured the total business of Rs 128.66 crore (approx) in the month of February, 2020," the company said in a filing to BSE. The area of operation of NBCC, a navratna Central Public Sector Enterprise (CPSE), encompass three primary segments -- project management consultancy, engineering procurement and construction and real estate development. Shares of NBCC were trading at Rs 21, down 1.18 per cent over its previous close on BSE. SID DRR

NBCC India bags orders worth Rs 129 cr in Feb

New Delhi, Apr 7 () State-run Nalco on Tuesday said it has contributed a sum of Rs 10.2 crore to tackle the coronavirus crisis. Nalco has made a contribution of Rs 5 crore, while its employees have pledged their one-day's salary amounting to Rs 2.6 crore to the PM CARES Fund. Further, the employees of the PSU have also contributed their one-day's salary amounting to Rs 2.6 crore to CM's Relief Fund, Odisha. "Nalconians stand with the nation and people of Odisha in the fight against Covid-19. Nalco contributes Rs 5 crore and one-day salary of employees amounting to Rs 2.6 crore to PM CARES Fund. Also contributes Rs 2.6 crore to CM's Relief Fund, Odisha (contribution of one day salary of employees)," the PSU said in a tweet. National Aluminium Company Ltd (Nalco) is a navratna PSU under the ministry of mines. The company has integrated operations in mining, metal and power sector. In order to prevent the spread of Covid-19, Nalco has taken several measures "to ensure the wide circulation of Do's &amp; Don'ts in its offices and townships," an official said. Besides, isolation wards have also been set up at the hospitals of the PSU to treat the suspected or infected patients. The company's plants and townships have been sanitised to combat the menace, along with the extensive awareness campaigns to fight the pandemic. SID DRR

Nalco contributes Rs 10.2 cr to fight coronavirus

New Delhi, Apr 11 () State-run miner Nalco will fund an exclusive 200-bedded hospital for COVID-19 patients in Odisha, the company said on Saturday."Showing commitment and solidarity with the home state in the fight against COVID-19 pandemic, National Aluminium Company Ltd (NALCO) ... has come forward to fund an exclusive 200-bedded Covid19 hospital at Nabarangpur, Odisha," the PSU said in a statement.A tripartiteent in this context has been signed by Nalco, District Administration and Christian Hospital, Nabarangpur on Saturday, the statement said.The 200-bedded hospital will have medical facilities exclusively for treatment of Covid 19 patients.Under the agreement a Covid 19 exclusive isolation facility care centre has been made at B.Ed college, Hirli, Nabarangpur.With the exclusive Covid19 hospital being operational in the tribal dominated district of Nabarangpur, hopes are high that it will also be helpful for other adjoining districts of southern Odisha,viz Rayagada, Koraput, Malkangiri and Kalahandi. "We have stood with the people of Odisha in the past during natural calamities. This time, the crisis is more challenging and of unprecedented scale, and we at Nalco reiterate our pledge to extend our wholehearted support in whatever ways we can," company's CMD Sridhar Patra said. Earlier, Nalco employees had contributed two-day salary amounting to Rs 5.2 crore which has been remitted to PM CARES Fund and Odisha CM's Relief Fund, i.e Rs, 2.6 crore each.The company is a navratna central public sector enterprises which comes under the Ministry of Mines. SID MR

Nalco to fund 200-bedded Covid-19 hospital in Odisha

New Delhi, Dec 27 () State-owned aluminium company Nalco is looking to revisit its expansion plans, Chairman and Managing Director Sridhar Patra said on Friday.
He however refused to give details as the plans have to be put before the board.
"We are revisiting (our expansion plans)...Whatever long-term plans you make, you cannot project for 10 or 15 years... because all the factors do not support in that manner," Patra said on the sidelines of a mining summit organised by CII.
"We have to remodify...Whatever bottlenecks were there, we have removed almost all," he said.
Last year, the company had said it was all set to invest over Rs 30,000 crore over the next four years to launch a number of new projects and undertake major expansion programmes. 
The projects under execution include 1 MTPA capacity 5th stream alumina refinery in the existing complex at Damanjodi at an estimated cost of Rs 5,540 crore which is expected to be completed by April 2021, it had said.
Moreover, around Rs 9,000 crore was being spent for establishment of 6 lakh TPA smelter at the existing complex at Angul in Odisha. 
National Aluminium Company Ltd (Nalco) is a navratna CPSE under the Ministry of Mines. The company has diversified operations in mining, metal and power. SID SID ANU
ANU

Nalco to revisit expansion plans

New Delhi, Apr 10 () From setting up 'fever clinic' to 'disinfecting tunnel', NLC India has taken several initiatives to ensure the safety of its employees against the deadly Covid-19. The navratna said, the disinfecting tunnel ensures protection to all employees before they enter the plants and mines, while fever clinic is for those with symptoms like fever, cough and breathing difficulties. "NLC Thermal team has fabricated disinfecting tunnels by using packing material and spares available with power plants which are now being used by all the power plants and mines in Neyveli," a company official said. Moreover, NLC India Ltd (NLCIL) has introduced 'fever clinic' which function from 6:00 AM to 10:00 PM for symptomatic patients who have a travel history to affected places and those who report with symptoms like fever, cough and breathing difficulties, the official said. Such patients with symptoms and travel history are recommended for home quarantine, he added Moreover, through public screening and massive door-to-door enumeration, the company has also identified symptomatic patients who have a travel history to affected places. Based on recommendation of the doctors, they have been home quarantined, the official said adding that till date 460 persons have been home quarantined. Moreover, a taskforce consisting of trained volunteers are monitoring the status of persons home quarantined. With the co-ordination of state government health department, stickers have been pasted at the residents of persons quarantined for better screening and control, the official said. NLCIL has taken up measures for in-house preparation of liquid soap solution, sanitisers at its research centre. The company, under the coal ministry, is into coal and lignite mining and power generatlon. SID SID DRRDRR

Covid-19: NLC India sets up 'fever clinic', 'disinfecting tunnel' to ensure employees' safety

<ul><li>State-owned oil company <keyword id="6354737" type="CITY" weightage="20" keywordseo="ONGC">ONGC</keyword> will be impacted by the government’s decision to reduce natural gas prices. </li><li>On September 30, the government reduced domestic gas prices by 12.5%. </li><li>ONGC will lose as much as $207 million or ₹1,460 crore in revenues.</li></ul>Oil major ONGC will lose as much as $207 million or ₹1,460 crore as the government of India reduced the prices of domestic natural gas, says a report by rating agency Moody’s. On September 30, the government reduced them by 12.5%. However, one would believe that ONGC, which banks mostly on exploration and production of crude oil, will not be impacted heavily.. Yet, Moody’s believes that this is credit negative for the state-owned oil company. The agency gave a Baa2 stable rating to the Navratna company. “The decline is equal to 0.3% of the company's expected revenue and around 2% of pre-tax profits for FY2020,”said Moody’s estimates. Most of ONGC’s revenues, over 73%, come from production and sale of crude oil. A mere 17% of its revenues comes from natural gas production. The government revises gas prices every six months as per a formula which came into implementation in 2014. “Gas prices in India are determined by taking a volume weighted annual average of the prices prevailing in Henry Hub (US), National Balancing Point (UK), Alberta (Canada) and Russia,” the agency explained. ONGC produces as much as 50.04 million metric tonnes of oil and oil equivalent gas (MMtoe) as per its annual report. For the financial year ending March 2019, its natural gas production grew by 5.4%. A large chunk of its natural gas comes from Panna Mukta Tapti gas fields which it runs along with Reliance Industries and British Gas.

ONGC will lose $207 million due to gas price reduction says Moody’s

<ul><li>LIC is one of the few profit making companies that the government owns.</li><li>The value of LIC’s investment corpus is an all-time high of ₹31 lakh crore.</li><li>It has 250 million customers – which is a lion’s market share in a poorly insured country like India.</li></ul>The government just announced what is likely to be the biggest initial public offering (IPO) in the next financial year, the one from Life Insurance Corporation of India (LIC), which at least is half a century old. After delays and disinterest in the government’s plan to sell stakes in its debt-laden companies like Air India, now the Indian government wants to unlock value in Life Insurance Corporation (LIC). This Navratna company is one of the few profit making companies that the government owns, and has always been a vital part of the government’s investment plans. LIC is the oldest insurance company and also the largest financial institution of the country -- with a massive investment corpus of ₹31 lakh crore. Any value unlocking from this massive company will be able to fill the government’s coffers also make up for its rising fiscal deficit – the difference between its revenue collections and earnings. To put it in perspective, India’s fiscal deficit is at around ₹9 lakh crore which is more than thrice the value of LIC’s stock holdings only. If its insurance business and its extensive coverage across the country is included, the value of this unlisted company would rise massively. It has 250 million customers – which is a lion’s market share in a poorly insured country like India. LIC asset value at an all-time high The timings too is no coincidence since LIC’s asset value is currently at an all-time high. In fact, the value of LIC’s stock holding is 20% of total market value of Indian stock markets. In the very last month, it booked a profit of ₹14,000 crore only from its stock market holdings for the eight months between April and November, says a<a href="https://indianexpress.com/article/business/companies/lic-makes-over-rs-14000-crore-profit-from-markets-till-mid-nov-this-fiscal-6144766/"> report by Indian Express</a>. This, was in spite of the fact that LIC always bows down to government’s dictates to invest in government divestment programmes and initial public offers of state-owned companies. Foreign investor interest The insurance sector has been always been one of the most attractive sectors for foreign players. But it has hit an all-time high late last year, probably buoyed by the interest of millennials in insurance that opens a new vista of opportunities for the sector. In the last one year, the exposure of foreign inflows into the sector rose 10-fold. By the end of November 2019, foreign portfolio investments in insurance stocks were at $10.5 billion. In October 2018, they were at around a billion dollars. Both LIC’s asset value and the value of insurance in general might land a windfall for Indian government. That might save it from a sorry state that many of its company are in – high-debt and assets which are unsold. See also: <a href="https://www.businessinsider.in/budget/income-tax/news/check-out-new-income-tax-slab-of-2021/articleshow/73830824.cms">New income tax slabs 2020</a> <a href="https://www.businessinsider.in/budget/news/there-will-be-no-manual-cleaning-of-sewers-anymore-announces-nirmala-sitharaman/articleshow/73835265.cms">“There will be no manual cleaning of sewers anymore,” announces Nirmala Sitharaman</a>

The biggest IPO of the next financial year ⁠— LIC, whose corpus is at ₹31 lakh crore

<ul><li><keyword id="4925247" type="COMPANY" weightage="20" keywordseo="Publicis-Worldwide-India">Publicis Worldwide India</keyword>'s CCO and MD, Ajay Gahlaut resigns. </li><li>The agency promotes Vikash Chemjong and Basabjit ‘Tito’ Mazumdar to the role of Joint National Creative Directors.</li></ul> Ajay Gahlaut, CCO and MD of <keyword id="137598" type="COMPANY" weightage="20" keywordseo="Publicis">Publicis</keyword> Worldwide, India (PWW) has decided to move on from the agency and pursue his passion on a personal front. He will be with the agency until mid-August and will ensure a steady handover to all concerned teams and clients. The agency has also announced the elevation of Vikash Chemjong and Basabjit ‘Tito’ Mazumdar to the role of Joint National Creative Directors. The duo would take on the role of managing the creative mandate for all brands under PWW including Publicis Capital, Publicis Ambience, Publicis Beehive, Publicis Health, Publicis Emil and Publicis Business and will report to Srija Chatterjee, MD, Publicis Worldwide, India. Anupriya Acharya, CEO, Publicis Groupe South Asia says, “Working with Ajay has been a great experience even though our overlap has been only six months! He has built a great team here and we thank him for all his contributions. Am sure he will be successful in whatever he chooses to do next and our best wishes are with him.” Vikash and Tito had joined Publicis Capital over a year ago as National Creative Directors. Over the past one year, they have been instrumental in shaping the creative universe of some key brands under Publicis Capital including Beam Suntory, GUS, GPI, Nestle, Goodricke, Emami to name a few. Prior to joining Publicis, they both were <keyword id="9529948" type="COMPANY" weightage="20" keywordseo="group-creative-directors">Group Creative Directors</keyword> at Ogilvy India and have over four decades of creative experience between them. Srija Chatterjee, MD, Publicis Worldwide India said, “Ajay has been a great friend and a fantastic creative leader to have around. Over his 18-month long stint, he has helped build and nurture the creative process and output for a number of brands at the agency. I wish him a great ride in his future endeavours.” On the new roles for Vikash and Tito, Srija added, “We are fortunate to be running on a Groupe philosophy that thrives on the model of collaboration and ensure that we breed and train talent of great calibre. To that end, both Vikash and Tito come with over 40+ years of combined work experience and have been successfully leading the Publicis Capital business for the last one year, partnering some of our clients in delivering some great work. I look forward to them playing a key role in raising the creative bar.” Ajay Gahlaut said, “For me it has been a wonderful year and a half at Publicis. I have made many friends, built a powerhouse creative team and done some nice work. The only reason for moving on is a desire to try new things. This is an extremely exciting time for all kinds of creative content in the country. I have a couple of interesting options I can explore. And while I will never say never to advertising, I thought it was a good time to attempt some things I hadn’t tried before.” Ajay remarked that it was extremely satisfying to see Vikash and Tito elevated as creative heads. “I have always believed in promoting from within and I’m sure that the duo will rise to the occasion. Ranadeep Dasgupta, meanwhile, will look after the New Delhi office and I’m certain that he too will shine in his new role.” Vikash and Tito affirmed, “It’s a great honour for the both of us. This is a new role but we will deal with it in much the same way as we have dealt with all our briefs. Just roll up our sleeves, order some excellent food and keep at it until we are satisfied. Both with the food and with the ideas! Because we have realised over the years, that if we are happy and convinced about our ideas, more often than not, so are our clients!” Ajay has been a part of noteworthy campaigns such as Emami Navratna - ‘Raahat Raja featuring Salman Khan’, HDFC MF – ‘Baat Bane Kishton Mein’ and Skoda Auto – ‘Peace of Mind’ among others.

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10 best tax-saving investments

Economic Times

Multibagger stock: Ircon International PAT rises 44% to Rs 251 crore in Q2

PTI

NBCC India bags orders worth Rs 129 cr in Feb

PTI

Nalco contributes Rs 10.2 cr to fight coronavirus

PTI

Nalco to fund 200-bedded Covid-19 hospital in Odisha

PTI

Nalco to revisit expansion plans

PTI

Covid-19: NLC India sets up 'fever clinic', 'disinfecting tunnel' to ensure employees' safety

PTI

ONGC will lose $207 million due to gas price reduction says Moody’s

Katya Naidu

The biggest IPO of the next financial year ⁠— LIC, whose corpus is at ₹31 lakh crore

Katya Naidu

Ajay Gahlaut moves on from Publicis Worldwide; Vikash and Basabjit made Joint NCDs

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