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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 […]
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 […]
