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AESL attains financial closure for $1 billion power project in Mumbai

08 Aug 2023 09:05 AM IST

Adani Energy Solutions Limited (AESL) has announced the successful financial closure of its $1 billion green high voltage direct current (HVDC) link project. This project aims to contribute to the environmental improvement of the Mumbai Grid by supplying additional renewable power to meet the city’s growing electricity demands, the company

Market opens strong on Monday: Sensex surges and Nifty gains

07 Aug 2023 10:50 AM IST

As investors and traders were greeted with a green opening on Monday, the Indian stock market saw a strong start to the trading week. The benchmark index, the Sensex, displayed a striking increase, rising 167.31 points to finish at 65,888.56. The Nifty followed suit, also enjoying a successful run, rising

Indian stocks rise after three straight session losses

04 Aug 2023 10:51 AM IST

The majority of the fresh buying on Friday helped Indian stock indices trade slightly higher after experiencing intense selling pressure over the previous two to three sessions. At the time this report was being written, the Sensex and Nifty were both 0.3-0.4% higher than where they had closed the day

National e-commerce policy nears completion: Stakeholders reach consensus

04 Aug 2023 08:58 AM IST

The national e-commerce policy, a crucial blueprint for the future of India’s burgeoning digital commerce sector, is nearing its completion, according to a high-ranking government official. A consensus has emerged among key stakeholders on the policy, which is currently in its final stages. The Commerce and Industry Ministry organised a

Ambuja Cements acquires Sanghi Industries in Rs 5,000 crore deal

04 Aug 2023 08:58 AM IST

Ambuja Cements Ltd (ACL) has announced its acquisition of Sanghi Industries Ltd (SIL) in a deal valued at Rs 5,000 crore. The purchase is expected to strengthen Ambuja’s market presence and increase its cement capacity to 73.6 million tonnes per annum (MTPA). The acquisition, fully funded through internal accruals, will

Adani Power announces Q1 FY24 results

03 Aug 2023 18:43 PM IST

Adani Power announces Q1 FY24 results Q1 FY24 Revenue at Rs. 18,109 Crore, up 16.8% y-o-y Q1 FY24 EBITDA at Rs. 10,618 Crore, up 41.5% y-o-y Q1 FY24 PAT at Rs. 8,759 Crore, up 83.3% y-o-y Editor’s Synopsis Installed capacity grows from 13,650 MW as of 30th June 2022 to

Media Release – Adani Enterprises Ltd Q1 FY24 Results

03 Aug 2023 18:39 PM IST

Consolidated EBIDTA increased by 47% to Rs. 2,896 cr Attributable PAT increased by 44% to Rs. 674 cr ANIL – green Hydrogen ecosystem now at over 10% of EBITDA EDITOR’S SYNOPSIS Financial Highlights Q1 FY24 (Consolidated) (YoY Basis): Total Income stood at 25,810 cr EBIDTA increased by 47% to 2,896

BLR Airport handled record Perishable Cargo for the third consecutive year

03 Aug 2023 18:31 PM IST

Bengaluru, August 03, 2023: For three consecutive years, Kempegowda International Airport Bengaluru (also known as KIAB/BLR Airport), has maintained its position as the leading airport for exporting perishable cargo in India. The Airport witnessed growth in the export of perishable cargo, handling a record tonnage of 53,751 metric tonnes (MT)

Ambuja Cements acquires Sanghi Industries at an Enterprise Value of Rs 5,000 Cr

03 Aug 2023 11:16 AM IST

The acquisition will be fully funded through internal accruals. Sanghi Industries Ltd (SIL) has clinker capacity of 6.6 MTPA (million tonnes per annum), cement capacity of 6.1 MTPA and limestone reserves of 1 billion tonnes. SIL’s Sanghipuram unit is India’s largest single-location cement and clinker unit by capacity, with a

GST council sets 28% tax on entry-level bets for online gaming analyse

03 Aug 2023 08:42 AM IST

The GST Council has eased the online gaming industry’s tax worries, agreeing to a 28% GST levy on the face value of entry-level bets placed on gaming platforms and casinos, despite dissent from Delhi, Goa, and Sikkim. Offshore gaming platforms must register with GST authorities and pay taxes, or risk

Indian stocks dip sharply on weak global market cues

02 Aug 2023 15:30 PM IST

Wednesday saw a sharp decline in Indian stock indices as traders followed negative cues from overnight US markets. The Sensex and Nifty were almost 1% lower than where they had closed the previous day when this report was being written. All of the Nifty sectoral indices were down, with the

Adani Total Gas sees record Q1 results, boosts infrastructure

02 Aug 2023 09:37 AM IST

Adani Total Gas Ltd, India’s prime City Gas Distribution company, unveiled a promising Q1FY24 report today, spotlighting strategic growth and commendable financial results, despite notable industry challenges. The company reported an increase in Compressed Natural Gas (CNG) stations, which has now expanded to 467, including seven new additions in the