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Indian Hotels launches new exclusive Taj The Chambers club in London

The Indian Hotels Company Limited (IHCL) has launched its newest membership club, Taj The Chambers, in London as part of a wider Reimagined worldwide drive for India's leading hospitality brand. IHCL Managing Director and CEO Puneet Chhatwal formally announced the opening of the new exclusive wing within the Taj 51 Buckingham Gate Suites and Residences in the heart of London at a special ceremony on Tuesday evening. He also welcomed the Indian cricket team, which is currently in London ahead of its fourth Test clash with England at the Kia Oval.

Coal India production increases 15% to 43 million tonnes in August

State-owned CIL produced 42.6 million tonnes of coal in August, registering an increase of 14.6 per cent over the corresponding month of the previous fiscal. The rise in production comes at a time when there are reports of thermal power generation units across the country grappling with coal shortages. Coal India (CIL) produced 37.2 million tonnes of coal in August last fiscal, the maharatna firm said in a filing to BSE. Coal production by CIL also increased to 209.2 million tonnes in the April-August period of the current fiscal, over 195.5 million tonnes of coal produced in the year-ago period. Coal India accounts for over 80 per cent of domestic coal output.

NHPC seeks shareholders nod to raise borrowing limit to Rs 40,000 cr

State-run hydro power giant will seek its shareholders' approval to raise borrowing limit by Rs 10,000 crore to Rs 40,000 crore in the annual general meeting on September 29, 2021. The proposal to increase borrowing limit of the company from Rs 30,000 crore to Rs 40,000 crore is listed on the agenda of the AGM, stated the notice for the AGM. The company explained that keeping in view of fund requirements of the company due to rapid capacity addition programme, the limit of Rs 30,000 crore is required to be increased. The tentative debt requirement for both ongoing projects and new projects up to 2031 as per CAPEX requirements will be approx. Rs 50,000 crore, which will exceed paid up share capital, free reserves and securities premium of the company, it added.

NMDC iron ore production grows 44% to 15 MT in April-August

State-owned NMDC on Tuesday said its iron ore production surged over 44 per cent to 15.02 million tonnes (MT) in April-August 2021. The company's iron ore output was 10.42 MT in the same period last fiscal, NMDC said in a regulatory filing. In August 2021, the company said, its iron ore production rose to 3.06 MT from 1.62 MT a year ago. Its total sales of iron ore during April-August 2021-22 also jumped to 15.67 MT, as against 10.80 MT in the corresponding period last year. The company sold 2.91 MT iron ore in August, compared to 1.79 MT in the year-ago period. Hyderabadheadquartered NMDC, under the Ministry of Steel, is the country's largest iron ore mining company.

Sebi penalises compliance officer of Essar Shipping in insider trading case

Markets regulator Sebi on Wednesday levied monetary fine on the compliance officer of Essar Shipping Ltd for failing to administer the code of conduct as prescribed under insider trading norms. Sebi has slapped a fine of Rs 1 lakh on Awaneesh Srivastava, the compliance officer. The order follows an investigation carried out between July-August 2017. The firm had made certain announcement on exchanges pertaining to conversion of FCCBs which was later withdrawn by the firm. Sebi found that the period from July 31, 2017 to August 24, 2017 was period of UPSI (unpublished price sensitive information). However, the trading window was not closed during the UPSI period.

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