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NMDC's iron ore production rises 23% YoY to 42.15 MT in FY 2022

National Mineral Development Corporation Limited (NMDC), the country's largest iron ore producer, said on Saturday its production increased by 23 per cent year-on-year to reach 42.15 million tonnes (MT) in the financial year ended March 31, 2022.

The company's sales increased by 22 per cent to 40.70 MT during fiscal 2021- 22. NMDC is a central public sector enterprise under the Ministry of Steel. In the fourth quarter of the financial year ended March 31, 2022, the company's production grew by 12 per cent to 13.84 MT, while the company sales rose to 12.34 MT, posting a year-on-year increase of 12 per cent.

SII, Bharat Biotech halt production of Covid vaccines as demand slips

India’s two major Covid-19 vaccine makers — Serum Institute of India (SII) and Bharat Biotech (BB) — have halted production of Covid vaccines, and will focus on non-Covid vaccines instead. Both these firms combined have accounted for over 98 per cent of Covid-19 vaccine doses administered in the country. So far, 1.51 billion Covishield doses and 300 million Covaxin doses have been administered in India, which makes it 98.36 per cent of the 1.84 billion doses administered in the country.

Indian Oil to invest Rs 840 crore to set up plant, raise storage capacity

PSU major Indian Oil Corporation on Sunday said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant (POL) storage capacities, including setting up a greenfield facility, in the Northeast. The company is planning to take its POL capacities to 5,530 Thousand Metric Tonnes Per Annum (TMTPA) by 2030 from the existing 3,160 TMTPA, Indian Oil Corporation Executive Director (IndianOil-AOD) G Ramesh told PTI.

Maruti Suzuki aims to sell 600,000 CNG units in current fiscal year

The country's largest carmaker Maruti Suzuki India (MSI) aims to sell 4-6 lakh CNG units in the current fiscal year depending upon supply situation of essential components, as per a senior company official.

The company sold about 2.3 lakh CNG units in 2021-22. MSI currently sells nine of its 15 models with CNG powertrain and is looking to drive in more models with such technology in the coming days.

ONGC to see $3 bn rise in earnings, Reliance $1.5 bn from gas price hike

State-owned Oil and Natural Gas Corporation (ONGC) is likely to see a USD 3 billion (about Rs 23,000 crore) rise in its annual earnings from the more than doubling of the price of natural gas it produces, while Reliance Industries may get USD 1.5 billion (Rs 11,500 crore) more in revenue, a report has said. The government from April 1 increased the gas price paid to producers of oil and regulated fields from USD 2.9 per million British thermal units to USD 6.10, a record high. For difficult fields, such as deepsea fields of Reliance, the price has gone up by 62 per cent to USD 9.92 per mmBtu.

Whistleblower files complaint against Invesco mutual fund

A whistleblower has filed a complaint against Invesco Asset Management (India), alleging irregularities in the management of its fixed income schemes. The complaint has been filed with the Securities and Exchange Board of India (Sebi) as well as with the US Securities and Exchange Commission (US SEC). The complainant has also filed a case with the Bombay High Court.

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