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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 […]
Boon for some and bane for some, the pandemic, however did leave everyone with a story to tell. And now, as we gear towards “normal” leaving behind the “new normal,” here are facts that emerge on the economic front. “Profiting from Pain” was tabled at the World Economic Forum. This four-day meet (May 22 to […]
The initial public offering (IPO) of specialty chemical manufacturer Aether Industries will take place on Tuesday, May 24. The three-day public offering will end on Thursday, May 26. The company intends to raise Rs 808.04 crore through the IPO, with a price band of Rs 610-642 per share. While qualified institutional buyers (QIB) will receive […]
Union Minister of State for Skill Development, Entrepreneurship, Electronics, and Information Technology Rajeev Chandrasekhar stated that the next wave of startups will come from Tier 2 and Tier 3 cities. Important to note here is that he is on a three-day visit to Gujarat. In reference to India’s 100 unicorns, the Union Minister stated that […]
PM Narendra Modi gave his virtual presence on the 18th Patotsav of Ghanshyam Maharaj at Swaminarayan Mandir, Karelibaug, Vadodara. The gathering witnessed PM Modi through a digital screen on Thursday, May 19. The Gujarat State President of the Bharatiya Janata Party also graced the occasion. Many crucial ministers and BJP leaders of the state were […]
After the Russia-Ukraine war, the United States imposed sanctions on the Russian diamond producer Alrosa. However, the Surat diamond industry is in dire straits following the US sanction. In Surat, the diamond polishers, who owe loans to run their households, are trying their best to make ends meet. There is a deficit of rough diamonds […]
The Reserve Bank of India in a surprise move called a press conference on May 4 to announce a 40-basis-point hike in the repo rate. The move to prepone the Monetary Policy Committee meeting scheduled to be held in June was sparked by the sharp increase in inflation in April. According to data released by […]
Sharing the likely growth scenarios for the Indian economy for this year, Sanjiv Bajaj, President Confederation of Indian Industry (CII) said that “CII expects the GDP growth in a range of 7.4-8.2% in 2022-23, with the outlook critically hinging on the trajectory of global crude oil prices”. He was addressing the media for the first […]
Life Insurance Corporation of India (LIC) shares debuted on the stock exchanges today at a discount to the IPO price. On Tuesday morning, shares of the insurance behemoth began trading on the BSE and NSE at Rs 872 per share, down 8.11 percent from the IPO price of Rs 949 per share. On Tuesday, shares […]
A Mirzapur Commercial Court has ruled in favour of Adani Enterprises Limited and SB Adani Family Trust, barring local company PV Adani Juggler Hawk Industries Pvt. Ltd. from using the Adani trademark in its products and services. The Adani group had alleged that the company’s use of the name ‘Adani’ for its products of biodiesel, […]
The BSE Sensex witnessed an atrocious fall to an intra-day low of 52,654 on May 13. Due to this drop, the market capitalization of 17 Gujarat-based companies suffered a straight ₹3.20 lakh crores erosion. Surprisingly, this happened in a mere fortnight since April 29. Global inflation at the hands of the Russia-Ukraine War with a […]
Even as climate activists warn against the imminent global warming and its catastrophic effects, this season has sent out and SOS with the famous Gir Kesariya variety of mangoes devoid of its original flavour and sweetness. The price remains the same. However, the taste is a sure miss. Agriculturists point at global warming as the […]
Adani Group acquired Swiss building material maker Holcim Ltd India assets—Ambuja Cements and ACC Ltd. The Gautam Adani-led group bid about $ 10.5 billion to win the bid. Holcim will now allow Adani Group to inspect the assets and finances of Gujarat Ambuja and ACC. Holcim, through its subsidiaries, holds 63.19% in Ambuja Cements and […]
Adani Enterprises arm, AMG Media Networks Limited, has signed a agreement to acquire 49% stake in Quintillion Business Media Ltd (QBML). This includes share purchase agreements with QBML, Quintillion Media Limited (QML) and Quint Digital Media Limited (QDML). In March this year, Adani Group announced that it would acquire a minority stake QBM, which is […]
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 […]
Two Gujarat-based companies launched their initial public offering (IPO) and the sale is set to conclude at the end of this week. Ahmedabad-based Prudent Corporate Advisory Services kicked off for subscription yesterday, with shares ranging between Rs595 and Rs630 a piece. With theis the company is aiming to raise around Rs540 crore. Prudent is one of the leading retail wealth management […]
Intas Pharmaceuticals Ltd, in a statement today, said that its arm, Accord Healthcare Ltd, has entered into an exclusive license agreement with UK-based biotech player Myovant Sciences, in order to offer a new treatment option for prostate cancer patients in Europe. This agreement will lead to commercialization of relugolix, 120 mg, under tradename of ORGOVYX® […]
Adani Sportsline, an initiative by the Adani Group, has acquired the rights to own and operate a franchise in a T20 league under the UAE flagship. The UAE T20 League, licensed by Emirates Cricket Board, is an annual event that features six franchise teams competing in a 34-match event. The teams will likely include leading […]
On Monday, Adani Airport Holdings Ltd (AAHL) announced that it raised $250 million from a syndicate. The consortium of Standard Charted Bank (SCB) and Barclays Bank PLC was possible through a three-year ECB facility. In addition to this, the facility has the power to raise an additional $200 million. According to the company’s release, AAHL […]
Reliance Industries recently announced a revenue of Rs7.92 lakh crore for financial year ending March 2022, becoming the first ever Indian company to clock $100 billion in annual revenue. The company recorded a revenue of Rs2.11 lakh crore in the January-March 2022 period, marking a significant increase of 36% as compared to the same period last year. The company […]
