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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 […]
Adani Group, which handles diverse businesses, is now engaging with foreign banks and global private equity investors to chalk out plans in the healthcare business. Adani Group, is an Indian multinational conglomerate company, headquartered in Ahmedabad. It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises […]
Tesla rival Triton EV is all set to begin production in India as the company announced on Monday the acquisition of the AMW Manufacturing Plant in Bhuj, Gujarat. This 3.7 million square foot manufacturing plant infrastructure will serve as the epicentre of Triton EV’s EV Truck Manufacturing Hub.Triton EV’s acquisition will ensure a quick turnaround […]
Spicejet flight traveling from Mumbai to Durgapur on 1st May 2022 experienced severe turbulence that injured 17 passengers. The airline spokesperson said that passengers received minor injuries because the overhead cabin luggage started dropping on them as the turbulence occurred. Spicejet airline authorities verified the event as the flight landed. SpiceJet Boeing B737 aircraft operating […]
The Enforcement Directorate (ED) seized Rs 5551.27 crore from telecom firm Xiaomi India’s bank accounts on Saturday under the provisions of the Foreign Exchange Management Act, 1999, in connection with the company’s illegal outward remittances, the probe agency said in a press release. The ED launched an investigation in February this year into alleged illegal […]
While India’s real GDP in FY22 is estimated to be close to Rs 150 lakh crore, Reserve Bank of India’s (RBI) report on currency and finance for FY22 has estimated that the time to recover from the hit taken by the Indian economy due to covid pandemic would be around 15 years. The report has […]
Gautam Adani and Mukesh Ambani, Asia’s two wealthiest men, are doubling down on India’s media business, escalating competition in a market where Netflix Inc. and Amazon.com Inc. are eyeing over a billion users as battle for digital hots up. In a capital round led by James Murdoch-backed Bodhi Tree Systems, Ambani’s local joint venture with […]
Adani Enterprises Ltd has joined the media sector with the formation of AMG Media Networks Ltd, a wholly owned subsidiary. The new company would “carry on the business of media-related activities, including as publishing, advertising, broadcasting, and distributing information across various forms of media networks,” according to the press release. AMG Media Networks has three […]
Reliance Industries (RIL) and Lupa Systems, led by media veterans Uday Shankar and James Murdoch, have launched a new alliance for investment in sports and entertainment programming, four months after the two began investigating opportunities. Bodhi Tree Systems, a platform supported by Lupa Systems and Shankar, announced on Wednesday that it would invest Rs 13,500 […]
Air India, which is owned by Tata group, aims to buy low-cost carrier AirAsia India and has applied to the Competition Commission for clearance. Tata Sons Private Ltd owns 83.67 percent of AirAsia India, while AirAsia Investment Ltd (AAIL), a subsidiary of Malaysia’s AirAsia Group, owns the rest. Last year, Talace Private Limited, a wholly-owned […]
Adani Power became the sixth Adani Group company to reach a market capitalisation of Rs 1 trillion on Monday. The increase in market capitalization came after the stock reached a 5-percentage-point high on Monday. The large cap stock has risen 5% to Rs 272.15, from a previous close of Rs 259.20 on the BSE. The […]
The Reserve Bank of India has issued a new set of guidelines for credit and debit cards. These include a set of standard operating procedures (SOPs), as well as consumer protection measures as credit card usage explodes in India. It is hoped that the new rules will protect consumers from frauds and hidden charges, among […]
After 17 years of its entry into India, the world’s largest cement and building materials manufacturer Holcim group is mulling over the idea of pulling out of the country. The Holcim Group is putting its stake in Ambuja Cement and ACC Ltd up for sale. The firm is learnt to be in talks with the […]
