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Billionaire Gautam Adani’s conglomerate, which owns industries ranging from seaports to airports and electricity, is rushing to expand its operations, announcing a venture into healthcare services following acquisitions and investment announcements in cement production. ATL’s Deal: Adani Transmission Ltd (ATL) announced that it had reached an agreement with Essar Power to purchase the Mahan-Sipat transmission […]
Ever since its inception in 1941 by Brig. CVC Jackson in Pune, the 81-year-old Builders’ Association of India (BAI), got its first Gujarati president on Sunday. At a meet convened in the city, this biggest and oldest conglomerate of Real Estate Developers and civil engineering construction contractors voted Niimesh D. Paatel as its head for […]
Billionaire Gautam Adani led Adani Transmission Ltd. (ATL) has inked definitive agreements with Essar Power Ltd. (EPL) for the acquisition of Essar Power Transmission Ltd.’s 673 ckt kilometres operational inter-state transmission project (EPTCL). The transaction’s enterprise value is INR 1,913 crore. ATL’s MD and CEO, Anil Sardana “ATL’s foothold in central India will be strengthened […]
Reliance Industries, headed by Mukesh Ambani, and Apollo Global Management, a US buyout firm, are preparing a concrete bid for Walgreens’ Boots Alliance Inc’s international chemist and drugstore businesses, known as Boots, according to individuals familiar with the situation. They indicated their binding proposal might be submitted as early as Friday. According to people familiar […]
According to a Reuters poll of property analysts, property prices in India are expected to rise 7.5 percent on a pan-India basis this year, the fastest growth in five years. The average house price is expected to rise 6% next year and 6% in 2024. The poll of 13 real estate analysts was conducted from […]
According to Edelweiss Alternative & Quantitative Research, Adani Enterprises has a ‘high possibility’ of replacing Shree Cement in the benchmark Nifty in September’s semi-annual index review. The modifications to the index will be revealed in the second half of August, with a September 30 rebalancing date. Adani Enterprises has a good chance of entering the […]
Dilip Sanghavi led Sun Pharma reported a net loss of Rs 2,227.38 crore in the most recent quarter, compared to a profit of Rs 848 crore a year ago. The company’s revenue for the quarter increased by 11% year on year to Rs 9,386.08 crore. According to one poll, the company was predicted to earn […]
Essar Oil and Gas Exploration and Production Ltd (EOGEPL), India’s hydrocarbon (Coal Bed Methane) player, reported a 118 percent increase in revenue year on year in the fourth quarter ended March 31, 2022, at Rs 148 crore. In the previous fiscal quarter, the company earned Rs 68 crore in revenue. Experts are of the opinion […]
The top three business houses are expected to compete for a deal with Germany’s Metro AG to invest in its India unit Metro Cash & Carry. According to industry sources, Reliance, Adani Group, and Thailand’s conglomerate Charoen Pokphand (CP) are potential front-runners for a partial or full stake in Gurugram-based Metro Cash & Carry, which […]
Indigo Airlines on Saturday was fined Rs 5 Lakh for denying a boy with a special needs permission to board a flight from Ranchi. The airline informed the teen’s parents that he posed a risk to other passengers. The incident sparked widespread outrage, with many accusing the airline of discrimination. IndiGo has denied the allegations, […]
Adani Enterprises announced on May 27 that it had signed a definitive agreement to buy a 50% stake in General Aeronautics Private Limited, a company that makes commercial robotic drones and drone-based solutions for crop protection, crop health, precision farming, and yield monitoring for the agricultural sector, using artificial intelligence and analytics. “Adani Defence Systems […]
Commerce and Industry Minister Piyush Goyal has said that he had very successful talks with UK’s Trade Secretary Anne-Marie Trevelyan, especially regarding the free-trade agreement (FTA) between the two countries. Goyal has insisted that if everything goes well and as planned, the India and the UK could finalise the FTA before Diwali. This will also […]
Income Tax Department’s probe into Asian Granito India Limited (AGL) has continued for second day in a row. Its been over 32 hours that the investigation has been underway at numerous locations of the company, including the headquarters at S.G. Highway in Ahmedabad The probe, however, seems to have been a success as the authorities […]
The much-awaited Qualifier 2 of the Indian Premier League (IPL) 2022 will be played between the Rajasthan Royals (RR) and Royal Challengers Bangalore. The match, scheduled later today, will be played at the Narendra Modi Stadium. Both teams have displayed some excellent cricket throughout the tournament. The pitch at Narendra Modi Stadium is expected to […]
Japanese Bank MUFG will open a branch at GIFT City(Gujarat International Financial Tech City). The International Financial Services Centre Authority in India and the Financial Services Agency in Japan have both granted MUFG Bank permission to open a branch at GIFT City. MUFG will be the first Japanese bank to open a branch at Gujarat […]
Billionaire business Tycoon Gautam Adani’s Adani group and Andhra Pradesh government have agreed to establish a 10,000 Megawatt (MW) solar power project and a 3,700 MW pumped storage hydro power plant with a combined investment of nearly Rs 60,000 crore. The project has a potential to employ 10,000 people directly and indirectly. On the sidelines […]
A massive fire on the first floor of a building near Mundka metro station on Friday evening, left 27 burnt to death. According to Atul Garg, chief of the Delhi Fire Services (DFS), the fire control room received a call reporting the fire about 4.40 pm. At that point, 70 people were trapped on the […]
With demand building up, the LIC IPO, which opened for subscription today, is likely to be oversubscribed, which means it will be listed at a premium to the issue price. Whether the scrip will stay above the issue price in the medium term will depend on LIC’s results over the next few quarters. Deepak Jasani, […]
Adani Wilmar Ltd (AWL), the country’s largest fast moving consumer products company by revenue, has bought packaged foods brand Kohinoor from American conglomerate McCormick for an unknown fee. Apart from the premium basmati rice brand, the sale also includes its umbrella brands Charminar and Trophy, which are worth around Rs 115 crore in total. With […]
The anchor investor portion of Life Insurance Corporation of India’s (LIC) initial public offering (IPO) was fully subscribed on May 2, according to a stock exchange disclosure from the company. According to the filing, domestic mutual funds (MFs) accounted for more than 71% of the anchor book portion. In total, the state-owned insurance company issued […]
