Morning Outlook 4th April, 2022

NEWS UPDATES

• Gail (India) Coal India Limited (CIL) on Friday reported a record coal production in FY22 at 622.6 million tonnes, registering an annual growth of 4.4 per cent. In 2020-21, coal production stood at 595.2 million tonnes (MT). Coal supplies to power generation companies during FY22 also touched a record of 540.4 MT, up 21.4 per cent as compared to 445 MT in FY21.

 

• Asian Paints Ltd on Friday said it will acquire stake in two companies — White Teak and Weatherseal Fenestration — in a move to strengthen its presence in the fast-growing home improvement and dcor segment. Asian paints will acquire 100 per cent of Obgenix Software, popularly known by the brand name of White Teak, in a staggered manner over the next three years.

 

• After bagging Utkal B1 and B2 coal block in the Angul-Talcher belt in the state, Jindal Steel & Power Limited (JSPL) on Friday said it would develop its Odisha plant into the largest and greenest facility in the world. This was stated by the company’s chairman Naveen Jindal. He said JSPL has secured sufficient reserves of coal to enable the mega steel company to enhance its capacity for green steel making.

 

• Gross GST collection in March touched an all-time high of over Rs 1.42 lakh crore, the Finance Ministry said on Friday. The gross GST revenue collected in March 2022 is Rs 1,42,095 crore, of which CGST is Rs 25,830 crore, SGST is Rs 32,378 crore, IGST is Rs 74,470 crore (including Rs 39,131 crore collected on import of goods).

 

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

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