Consumers might have to bear a portion of Centre's proposed move to guarantee a Minimum Support Price (MSP), which would be 50 per cent more than the cost through higher prices in the fast moving consumer goods (FMCG) space, S Sivakumar, group head, Agri-business and IT of one of India's largest agribusiness player, ITC Ltd said.

He said while companies might absorb a part of the additional cost, once revised MSPs are in effect, they would also have to pass on some of the extra burden to the consumers.

The import of thermal coal is likely to increase in the coming months, as Coal India is set to miss its production target again – for an 11th straight month – causing a fuel shortage at the country’s thermal power plants. This is particularly worrisome as the demand for coal is likely to increase further as summer approaches.

The coal monolith’s output from April 2017 to February 2018 stood at 495.09 mt, seven per cent lower than the 531.32 mt target set by the coal ministry. Similarly, sales volume during this period is set to fall three per cent short of the 541.60 mt target.

Mumbai: In an executive switch operation, HDFC Bank and Citi have exchanged their corporate banking heads. While the private lender recently appointed Rahul Shukla, former corporate banking head at Citi, the foreign bank had a couple of months earlier hired HDFC Bank’s corporate banking head, K Balasubramanian.

Incidentally, Balasubramanian was returning to his former employer where he had spent about two decades.

MUMBAI: The Life Insurance Corporation of India (LIC) has close to Rs 25 crore outstanding from the Gitanjali group, against which it has security of the group’s Hyderabad Gem Special Economic Zone (SEZ). The corporation had originally extended a loan of Rs 125 crore, a large part of which has been repaid.

The only exposure the corporation has to the Nirav Modi/Mehul Choksi groups is a term loan provided for the SEZ.

New Delhi: ITC Ltd has set its sights higher for Aashirvaad—the Kolkata-based cigarette-to-shampoo maker’s largest packaged food brand.

The company has set an internal target of generating Rs10,000 crore from Aashirvaad annually in five years.

New Delhi: Shares of ICICI Bank Ltd on Wednesday slumped over 3% in early morning trade as the bank’s senior officials were summoned by the Serious Fraud Investigation Office (SFIO) with regard to the Punjab National Bank (PNB) scam.

It is the sixth straight session of fall for the stock and has slumped 12.75% since 26 February. Senior officials from private sector lenders ICICI Bank and Axis Bank appeared before SFIO on Tuesday with regard to a probe into the Rs12,636-crore PNB fraud.

New Delhi: India’s largest power utility NTPC Ltd on Tuesday joined hands with Indian Institute of Management-Ahmedabad (IIM-A) to establish a management school in Noida near Delhi that would offer specialized courses on energy management and work as a policy think tank.

“We have bigger plans...it will be a full-fledged B-School with a specialized focus on energy sector - both fossil and renewables,” said Saptarshi Roy, director (human resource) at NTPC.

Leaving the question of price aside, the best business to own is one that over an extended period can employ large amounts of incremental capital at very high rates of return. The worst business to own is one that (does) the opposite— that is, consistently employ ever-greater amounts of capital at very low rates of return,” Warren Buffett wrote in his letter to shareholders of Berkshire Hathaway Inc. in 1992.

Washington: The US and its international partners remain determined to achieve the goal of a denuclearized Korean Peninsula, President Donald Trump said on Tuesday.

“We remain determined to achieve a denuclearization of the Korean Peninsula,” Trump told reporters at a joint White House news conference with the Swedish prime minister. “There has been a lot of news on that today, he said referring to the news coming from the region that North Korea is willing to talk with the US.

Market benchmark BSE Sensex extended losses for sixth straight day by shedding about 133 points in early trade today on heavy selling in banking, metal and power stocks amid sustained selling by domestic institutional investors.

Also, a weak trend in other Asian markets after a key advocate for free trade in the White House announced his resignation, fanning fears that President Donald Trump would go ahead with import tariff hike and risk a trade war, weighed on the sentiment, brokers said.

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