Good time: HMT unit achieves record sales

THE govt may have decided to shut down the sick PSU HMT, but HMT Machine Tools Kalamassery has achieved record sales and production for the year 2014-15. The company has reported an unaudited net profit of Rs 52 lakh for the financial year. The sales grew by 31 per cent to Rs 73.69 crore and production value increased by 19 per cent to Rs 67.67 crore compared to last fiscal.

This is the fourth successive...

Govt may split Coal India into smaller entities

IN VIEW of severe coal shortages putting India's power generation plans at stake, the Union government is set to undertake the restructuring of state behemoth and world's largest coal miner, Coal India Ltd (CIL), by creating multiple mega coal companies in line with...

SBI set to merge five subsidiary banks into one to fund the economy

SBI chairman A Bhattacharya

THE nation's biggest lender State Bank of India (SBI) will begin the process of consolidation in the banking industry by combining its five associate banks. The move aims at funding the economy in a bid to take the economy into the path of growth. The process will enhance...

A new PSU HSRC is formally launched; how long will it take to give India its first bullet train?

When will India get such a Dream Machine? 

GIVING a further boost to India’s bid to run bullet trains at a speed of 300-350 km per hour, railway minister Mallikarjun Kharge formally launched a new public sector undertaking (PSU) named High Speed Rail Corporation of India Limited (HSRC) in New Delhi on Tuesday. HSRC has been formed on the directions of ministry of railways for development and implementation of high speed rail projects. This special purpose vehicle (SPV) was incorporated...