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Adani Power announced on Tuesday that it had entered share purchase agreements with two infrastructure development businesses, Support Properties (SPPL) and Eternus Real Estate, to acquire 100 percent equity shares in each (EREPL). SPPL will be bought for a total cash consideration of Rs 280.10 crore, while EREPL will be acquired for an aggregate equity […]
In the June MPC meeting, the Reserve Bank of India (RBI) raised the policy repo rate by 0.5 percent, or 50 basis points. Previously, the first meeting of the Monetary Policy Committee (MPC) for the fiscal year 2022-23, held in April 2022, had kept the policy repo rate at 4%. RBI’s surprise repo rate hike […]
Billionaire Gautam Adani’s spectacular journey to become the world’s ninth wealthiest person began in the 1990s with a port on India’s west coast and a long connection with a politician who is now the prime minister. The rest has been spent trying to identify the next industry that will help him expand his empire. His […]
According to media reports, billionaire Gautam Adani and Apollo Hospitals Enterprise Ltd, India’s largest hospital operator, are evaluating bids to acquire a majority stake in Metropolis Healthcare Ltd. Given the market capitalisation of the diagnostic chain and its operations, Adani and Apollo’s deal with Metropolis could be worth at least $1 billion or Rs 7,765 […]
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 […]
The phrase ‘Google it’ and ‘search engine’ might not remain synonyms anymore, as Apple is ready to launch its web crawler. Apple and Google, the dominating tech behemoths, are again in rivalry. The American giant has drawn swords with Google in a field entirely monopolized by Google, the search engine. According to reports, the company […]
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 […]
Many companies, including Ganesh Holdings and Mipco Seamless Rings, will release their March quarter net earnings on June 1, 2022. Meanwhile, some behemoth stocks have already made headlines. Among them are Life Insurance Corporation, IRCTC, and Sun Pharma. LIC has reported a 17% plunge in consolidated net profit to ₹2,409 crores for the fourth quarter. […]
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 […]
Gujarat is a land of entrepreneurship and real estate developers. And when there is a bullish run, there’s bound to be some trampling on the way. In this instance, laws related to benami property have been conveniently trampled. According to highly placed sources in the Income Tax Department, benami property has emerged as a major tool of laundering black money in […]
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 […]
The federation company connects distributors and merchants. The Federation’s members are in FMCG business throughout the whole of Gujarat. Nationally, there are about five lakh distributors and 1.5 crore retailers who have been in the business for more than a century. The Gujarat FMCG Distributors Association and the Chemists Association, met with retailers and wholesalers […]
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, […]
Zydus Lifesciences Ltd. (formerly Cadila Healthcare Ltd.), a global lifesciences company, has announced that the United States Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for its Jarod injectables manufacturing facility near Vadodara, India. The establishment inspection report denotes the completion of the inspection. The USFDA inspected the facility from February […]
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 […]
