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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 […]
Even as the opposition Congress is still busy trying to disentangle from its own organisational issues, the BJP is already discussing the brass stacks with the Rashtriya Swayamsevak Sangh and its ancillaries are likely to play a bigger role in the Gujarat Assembly election strategies this time.Top BJP sources confirmed to Vibes of India that […]
Ola Cars yesterday announced that its CEO, Arun Sirdeshmukh, had resigned from his position just seven months after joining the company. Sirdeshmukh joined the company in October 2021. Nevertheless, this news closely follows the group’s decision to expand the role of CFO GR Arun Kumar. During the announcement, the company said that with Sirdeshmukh’s exit, […]
Apple has stopped accepting debit and credit card payments in India. Apple has stopped accepting credit cards issued by Indian banks for subscriptions and purchases. Apple will also not accept credit card payments from Indian banks for ad campaigns on Apple Search. All campaigns will be halted on June 1st.The change is the result of […]
Supply chain company Delhivery has fixed a price band of ₹462-487 a share for its ₹5,235-crore initial public offering (IPO), which will open for subscription on May 11. Addressing an online press conference on Thursday, Delhivery’s Chief Business Officer Sandip Basaria said that the company is well positioned to gain from current economic trends. “The […]
Gujarat is emerging crucial to the Atmanirbhar Bharat Dream. The state’s export figures have doubled in a year, leaving behind previous leaders Maharashtra and Karnataka. Among indigenous items that bring in the highest FOREX earnings for Gujarat are cotton yarn, ceramics, petroleum, diamond, electrical engineering products, chemicals and oil seeds. Amassing a total of Rs […]
The Women’s Wing of real estate developers’ body CREDAI Ahmedabad organised a seminar on building awareness on legal & financial awareness. Paridhi Adani, Partner and Head-Ahmedabad at law firm Cyril Amarchand Mangaldas (CAM) along with Rinkel Singh, Senior Associate, Dispute resolution team at the law firm, addressed around 90 women belonging to the real estate […]
