State insurers quote low premiums to win NPCIL nuke insurance cover

Nuclear Power Corp of India (NPCIL) had budgeted Rs 30.13 crore, including taxes, for insuring Tarapur units 3 and 4 under a one-year property damage programme, said sources. The reverse auction for covering the risk, however, saw bids fall dramatically, with Oriental Insurance quoting Rs 10 crore, United India Insurance Rs 10.98 crore, and New India Assurance Rs 28.9 crore, they added.

IndianOil set for board revamp as govt proposes four MD positions

The government plans to restructure Indian Oil Corporation’s board. Four managing director positions will replace the current structure. Functional directors will be reduced to five from eight. This change aims to streamline operations and accelerate innovation. The proposal awaits approval from the Appointments Committee of the Cabinet.

Vedanta bets on Hind Zinc for next phase of growth

Vedanta expects substantial growth in the next five to six years. Hindustan Zinc’s expansion and critical mineral acquisitions will drive this growth. The company plans significant capital expenditure for capacity expansion this fiscal. Vedanta reported a strong profit jump of 152% in the June quarter. Revenue and EBITDA also saw considerable year-on-year increases.

DoT, Madhya Pradesh sign MoU for telecom manufacturing zone in Gwalior

The Department of Telecommunications and Madhya Pradesh government signed an agreement for a new manufacturing zone. This Gwalior facility will attract over ₹3,500 crore in initial investments from fourteen manufacturers. The government expects ₹10,000-12,000 crore more investment in the project’s first phase. The zone offers substantial incentives including land and capital subsidies for businesses.

Mid-tier private banks rake in more low-cost deposits

“Our Casa was only 10% initially. For the first three or four years of taking over management of this bank, we slowed down the loan book and focused on building the Casa ratio to 50%,” V Vaidyanathan, MD and CEO, IDFC First Bank, told ET in an interview. “If we had kept growing the loan book, we could never have addressed structural issues like this. I believe in playing the long game in every format.”

Piramal Pharma to focus on policy, not Trump tariff tweets: Nandini Piramal

Piramal Pharma will focus on policy actions amid tariff concerns. Its global manufacturing network offers a significant advantage. The company sees strong opportunities in the contract development and manufacturing segment. Piramal Pharma plans to expand existing businesses rather than acquire new ones. Macroeconomic uncertainty and rising interest rates pose potential risks.

As we look to the next decade, I hope in the future we can further grow in generics as we transition into drug innovation: Aman Mehta, MD, Torrent Pharmaceuticals

Torrent Pharma aims to become a top three Indian drug maker. The company is transitioning from generics to drug innovation for growth. Aman Mehta leads the firm with an ambitious future vision. He spearheaded a significant acquisition and focuses on weightloss drugs. Mehta emphasizes making the right strategic decisions for success.