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The Indian equity benchmark indice, BSE Sensex crashed further in trade today morning, bringing it below 73000 and Nifty50 also went below 22500 at 10.40 AM today. Experts have commented that the market behaviour is outcome of the aggressive selling by FIIs, touching to Rs 15863 crores so far this month. Concerns regarding election results […]
While the Narendra Modi government may have gone out of the way to promote the Gujarat International Finance Tec-City (GIFT City), sought to be developed as India’s formidable financial technology hub off the state capital Gandhinagar, just 20 km from Ahmedabad, a recent report, prepared by Tracxn Technologies suggests that neither of the two cities […]
Adani Green Energy Ltd (AGEL) has announced its financial results for the quarter and year ending 31 March 2024. The company’s robust growth in revenue, EBITDA, and cash profit is primarily driven by a capacity addition of 2,848 MW over the last year, consistent capacity utilization factor (CUF) for the solar portfolio, and improved CUF […]
Adani Ports and Special Economic Zone (APSEZ) on Thursday announced a 50 per cent jump in net profit at Rs 8,104 crore for FY24, reaching a record volume of 420 MMT (million metric tonnes) in the period which is 24 per cent growth (year-on-year).The revenue for FY24 grew by 28 per cent (year-on-year) to reach […]
Adani Enterprises announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Thursday, May 2, reporting a drop of 38 per cent in net profit at ₹451 crore, compared to ₹723 crore in the corresponding period last year. The port-to-power conglomerate’s flagship company’s revenue from operations rose marginally at O.8 per cent to ₹29,180 crore […]
Gautam Adani-owned Ambuja Cements recorded a 64 per cent surge in the March quarter consolidated net profit to Rs 1,055 crore (attributable to owners of the company) from Rs 645 crore last year, helped by softened input costs. The company has also delivered the lifetime highest annualised PAT of Rs 4,738 crore, up 119% year-on-year. […]
Adani Ports and Special Economic Zone (APSEZ) announced the elevation of its credit rating to AAA by CARE Ratings (NS:CREI). This is the highest possible rating given to any issuer in India by credit rating agencies, signifying APSEZ’s strongest level of creditworthiness and the ability to fulfil all its financial guidance, the company said in […]
Meta is making substantial investments in artificial intelligence (AI) to position itself as a leader in the field. Recently, in its first-quarter earnings report, the company revealed that its AI plans are costing more than initially anticipated. Meta initially intended an estimated capital expense range of $ 30 to $ 37 billion for its AI […]
ACC Limited, a subsidiary of Ambuja Cements, on Thursday announced lifetime high annualised profit after tax (PAT) at Rs 2,337 crore in FY24, up a staggering 378 per cent (year-on-year). Part of the diversified Adani Group, ACC Limited registered operating EBITDA at Rs 837 crore for the fourth quarter (Q4) ended March 31, up 79 […]
Top Indian jewellery brands are reaching out to customers among the wealthy Indian diaspora in the US. They are doing so though expansion in the US is challenging given the economic and geopolitical situation. Brands are focusing on luxury and premium segments. Dallas, New Jersey and Chicago are the preferred destinations because of the large […]
With the rise of new technology and easy accessibility through an option trading app in India there seems to be a good surge in the FnO trading category in the last 5 years. Options trading is a type of financial asset in which traders purchase and sell contracts, giving them the chance but not the obligation […]
Deepika Padukone’s self-care brand, 82°E, has announced a strategic partnership with Reliance Retail’s beauty platform, TIRA. This collaboration marks a significant milestone for 82°E, transitioning from a successful Direct-to-Consumer (D2C) model to a first-time retail experience in India, both online and offline. The partnership aims to continue 82°E’s mission of making self-care a simple, joyful […]
An analysis by Oxfam International found that 60 per cent of countries that receive loans or grants from the International Monetary Fund (IMF) and World Bank are facing high or increasing income inequality. Oxfam, a non-profit group, explained that out of 106 such nations, 64 are seeing either high levels of inequality or a rise […]
Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, signed a definitive agreement to acquire My Home Group’s 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs. 413.75 Crore through internal accruals will aid in enhancing the coastal footprint across southern markets […]
Under pressure in China where local players have outsmarted him, facing tech disruptions in the industry, and a general demand slowdown in its key markets, for Tesla’s Elon Musk, the India story is as important as the EV story is for India.New Delhi hopes the entry of the marquee EV flagbearer, just like it was […]
After a new rule under the Income Tax Act, micro and small enterprises (MSEs) in the chemicals industry are getting fewer orders and subsequently seeing depleted revenue. Section 45B(H) of the Income Tax Act directs a buyer to make payment to MSE manufacturers within 45 days. Gujarat is the hub of the chemical industry, with […]
Indian tech startups have reportedly shown a slowdown in employee layoffs this year, providing a sigh of relief for the industry. According to a recent report, more than 2,000 workers were laid off in the first quarter of 2024, a significant decrease compared to the same period in 2023. The tracking website, layoffs.fyi, reported a […]
Surinder Chawla, the Managing Director and CEO of Paytm Payments Bank Limited (PPBL), has tendered his resignation. The announcement was made in a recent stock exchange filing by Paytm. The company stated that it was informed by its associate entity, PPBL, about Chawla’s decision to step down. The resignation, effective from the close of business […]
An IT giant Wipro announced on Saturday that its CEO and MD, Thierry Delaporte, has resigned. The company’s BSE filing revealed that Srini Pallia will replace Delaporte with immediate effect. Delaporte, who has led a substantial transformation at Wipro over the past four years, is stepping down to pursue interests outside of his professional life. […]
India’s industry secretary, Rajesh Kumar Singh, has stated that Tesla Inc. now has the opportunity to lay out its investment plans for India, following the government’s decision to reduce import duties on electric vehicles (EVs). This comes after the industry department’s recent unveiling of a comprehensive policy aimed at boosting EV manufacturing in the world’s […]
