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Adani Power Ltd is all set to acquire DB Power Limited, which owns and operates a running 2×600 MW thermal power plant, at district Janjgir Champa in Chhattisgarh. This acquisition will be Adani Group’s power flagship enterprise in the state’s thermal power industry. DB Power was incorporated on October 12, 2006, within the jurisdiction of […]
As soon as the Sensex touched the 60,000 mark again, Gujarat companies also made big gains. In the two months from June 17 to August 17, the market cap of 16 Gujarat-based companies increased by Rs 6.57 lakh crore. The BSE Sensex closed at 60,260.13 on Wednesday against a low of 51,360.42 on June 17, […]
China is known to set up its own world order. While most countries hold China as blatantly defiant of international protocols, the dragon looks upon its enterprises as vested in its economic growth. Over the years, Xi’s iron hand has fisted China as a formidable power and one that threatens to re-align world powers. Little […]
India’s Warren Buffett, Rakesh Jhunjhunwala, passed away on Sunday at 62 from cardiac arrest. Experts used to examine the Indian millionaire’s trades up close and extensively. However, his death has drawn attention to near equities worth $4 billion. The self-made trader served on the boards of various Indian companies and invested in several startups and […]
UAE-based Lulu group plans to develop about a dozen more malls in India. The group has five operational malls in India at Kochi, Trivandrum, Thrissur, Bengaluru and Lucknow, worth 7,000 crores. Lulu Group Chairman and Managing Director M A Yusuff Ali hail from the Thrissur district of Kerala. Shibu Philips, Director-Shopping Malls of Lulu Group […]
Under the new GST rules, effective July 18 onwards, tenants will have to cough up an additional 18% GST on house rent, even in residential properties. The rule, however, is applicable only to tenants registered under GST as a business entity. The common salaried person who has taken up a residential house or flat on […]
Rakesh Jhunjhunwala, the king of Dalal Street passed away today on 14th August. He felt some uneasiness post which he went to the hospital and died there at around 6.30 A.M.. Doctors report that he also had kidney related problems and acute multiple organs failure. Aged at merely 62, Rakesh Jhunjhunwala was considered the “Indian Warren […]
Following a study by an advisory group opposing its leader Vijay Shekhar Sharma’s reappointment as CEO and casting doubt on the company’s road to profitability, shares of One97 Communications, the parent company of Paytm, dropped by close to 5% on Friday. Separately, Paytm said its loan disbursals increased four times to 2.9 million in July […]
Amazon has laid off about 1 lakh employees, which is the largest sequential drop in history. The cut off has been made mainly at its fulfilment centres and in the distribution network. The e-commerce giant is an employer of more than 15 lakh people. Brian Olsavsky, chief financial officer of Amazon, said on its quarterly […]
The investigation wing of the Income Tax department of Gujarat has raided over 25 locations of popular ceramic brand Qutone. The search and seizure operation– led by the Rajkot Income Tax department–began on Tuesday morning. Over 200 I-T officials were deployed at various locations of the company’s head offices and residencies in Ahmedabad, Morbi and […]
Adani Road Transport Limited (ARTL) is preparing to acquire stakes in Macquarie Asia Infrastructure Fund (MAIF)’s Gujarat and Andhra Pradesh road toll portfolio at a total investment of Rs3,110 crore. The wholly-owned subsidiary of Adani Enterprises Limited (AEL) is expected to get a 56.8% stake in Gujarat Road and Infrastructure Company Ltd (GRICL) and a […]
Madhur Rakheja has been offered a job by Microsoft. He is a B-tech student at the interdisciplinary institution UPES in Dehradun. The job offer is of Rs 50 lakh. Madhur, a bright student from the start, had a list of companies that he had hoped to get into. Microsoft has always been on that list […]
Reliance Jio has emerged as a winner in the 5G network auction held by the Department of Telecommunications in July. Reliance Jio has acquired spectrum bands in the 700MHz, 800MHz, 1800MHz, 3300MHz, and 26GHz, aggregating Rs88,078 crore. While the bands have been acquired for a period of 20 years, the payments will be made through […]
Sprite To Sell Cold Drink in Clear Bottles Sprite shall no longer sell cold drinks in green bottles. After 60 years of green bottle packaging, Sprite will be now available in white or transparent bottles. The new change will come into effect from August 1. The company revealed that this move is a step towards […]
The villagers of Chhota Udepur district are facing a lot of trouble as the drain connecting Gaman Faliya at Sadhali has been in a damaged condition for years. School-going children are forced to cross the river through the water, risking their lives.The cove over the ravine broke within about 2-3 years of its construction. Sadhali […]
The union cabinet has approved a financial aid package of Rs1.64 lakh crore for state-run telecom provider Bharat Sanchar Nigam Limited (BSNL). This package is expected to help revive the company, which is currently struggling to stay relevant. The cabinet, chaired by Prime Minister Narendra Modi, said that its measures to help the company on […]
The Maharashtra Cabinet is about to approve a proposal on Wednesday in which land shall be allotted to a Vedanta- Foxconn project to establish a semiconductor and display fabs manufacturing facility in the state. Press note issued by the Maharashtra Industrial Development Corporation (MIDC) said that Vedanata and the government are in discussion over the proposed […]
Gautam Adani spoke at the group’s annual shareholder’s meeting, revealing that the group is about to invest $70 billion in a new energy business which shall make India, an exporter of Green Hydrogen.Adani said that they had never walked away from investments and won`t ever will. He also further added that in the talks of […]
Triton Electric Vehicle plans to expand into the hydrogen-powered two- and three-wheeler markets. At its Bhuj facility in Gujarat, it will produce hydrogen-powered two-wheelers and three-wheelers, and it intends to begin making electric trucks this year. In order to establish a fully-equipped EV car production plant in India with all the latest technology and cutting-edge […]
Godrej & Boyce announced on Monday that it is increasing its investment by Rs 300 crore at its facility in Dahej, Gujarat, in order to increase the process equipment arm’s income by FY25. In order to deliver specialised and massive equipment, Godrej Process Equipment (GPE) is investing Rs 300 crore to increase its footprint in […]
