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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 […]
Adani Green Energy Limited (AGEL), has surpassed 10,000 megawatts (MW) of operational portfolio, delivering reliable, affordable, and clean power to the national grid. AGEL’s operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity. The milestone is a testament to AGEL and its development partners firmly moving towards the […]
According to data from the Ahmedabad Air Cargo Complex (AACC), 78.95 metric tonnes (MT) of gold was imported in FY 2024, up 88.5% from 41.88 MT in the previous fiscal year. This is the highest gold procurement in the last eight years. The price of gold is around Rs 71,000 per 10g in the Ahmedabad […]
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company, has handled 420 MMT (+24% Y-o-Y) cargo in FY24 (including international ports), with domestic ports contributing over 408 MMT cargo. It has also handled its highest ever monthly cargo volumes (incl. international ports) of over 38 MMT in March 2024. Ten […]
Adani TotalEnergies Biomass Limited (ATBL), a wholly-owned subsidiary of Adani Total Gas Limited (ATGL) has commissioned operations at phase 1 of its Barsana Biogas Plant, located in the Mathura district of Uttar Pradesh.The plant is located on the premises of Shree Mataji Gaushala. The Barsana Biogas Project has three project phases and would attain the […]
In a piece of gloomy news, Indian startups received $1.6 billion (Rs 1,33,31,44,00,000) during January 1 to March 15, 2024, down 29% compared to the same period last year, according to a report by market research firm Tracxn. Funding fell 20% per cent from $2 billion (Rs 1,66,64,30,00,000) in the previous quarter. Investments in India […]
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company, has entered into an agreement to acquire Gopalpur Port Limited (GPL) in Odisha for Rs 3,080 crores. The company is purchasing the 56% stake of the SP Group and 39% stake of Orissa Stevedores Limited (OSL) in GPL. The transaction is […]
Mahindra & Mahindra, the country’s leading SUV manufacturer, has announced a memorandum of understanding (MoU) with Adani Total Energies E-Mobility Limited (ATEL), a subsidiary of Adani Total Gas Limited. The MoU outlines a plan for establishing a comprehensive EV charging infrastructure across the nation. Furthermore, the partnership will involve the rollout of e-mobility solutions to […]
Gold prices reached an all-time high, surpassing the $2200 mark, driven by the announcement from the US Federal Reserve that it would keep interest rates unchanged and maintain its forecast of at least three rate cuts throughout the year. In India, the price of gold reached a historic peak of Rs 66,778 per 10 grams, […]
Gautam Adani’s group companies said they had not received any notice from the US Department of Justice over a potential bribery investigation, but its renewable energy firm Adani Green Energy stated it was aware of an investigation into potential violations of American anti-corruption laws by an unrelated third party. On a media report that US […]
Prosecutors from the US Attorney Office and Justice Department (DoJ) are reportedly looking at an Adani Group entity and Azure Power Global around potential bribery investigations. An Adani Group entity potentially involved in “paying officials in India for favorable treatment on an energy project˙. Based on the profile of USD bond issuers from the group, […]
In another feather on the cap of Adani Group, Adani Vizhinjam Port Private Limited (AVPPL) has won an International Safety Award from the British Safety Council in recognition of its commitment to keeping workers and workplaces healthy and safe. AVPPL is one of 269 global organisations to win a distinction in the International Safety Awards […]
Adani Group is investing over Rs 1.2 lakh crore (about USD 14 billion) through its portfolio of 11 listed companies that range from ports to energy, airports, commodities, cement and media in fiscal year starting April 1, sources said. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40 […]
