Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
Since then, 129 startups have joined this star status, of which 100 were added from January 2019, generating a total value of $535 billion. Entrepreneurs are building bigger enterprises at a faster rate -- 50 per cent of the 130 companies reached unicorn status in the first five years after their initial institutional fundraising.
The Adani story has only one angle -- how the stocks were rigged up to ridiculous heights, the Hindenburg report on gross overvaluation, followed by the vertical free fall of Adani stocks, points out Debashis Basu.
'As long as Amul was coming in with products it was not a problem because it was something value added and with a shelf life.' 'When it gets into the local market by procuring locally, it cuts into the market-share of local cooperatives.'
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
After being underweight on domestic agrochemical companies and preferring global plays, brokerages believe that the former may perform better in the quarters ahead. Domestic crop protection companies have faced multiple headwinds over the past year and a half, given high inventory costs, pricing pressures, lower realisations in the generic segment, increased stocks due to lower infestations, and demand-led hits to volumes. Some of the overhang from previous quarters was reflected in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24) as well, with aggregate revenues and operating profit for the sector down 12 per cent and 27 per cent, respectively.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
Analysts suggest making separate firms of tobacco, hotels and FMCG divisions
Together, they controlled nearly Rs 26 lakh crore of assets at the end of FY16.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
She urged the Congress workers to tackle the current regime with vigour and reach out to people to convey the party's message.
IBM's India Research Laboratory completes pilot project on 'spoken web' concept in Andhra.
An agreement to expedite the Jaitapur nuclear plant was expected to be signed.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
There are more of them now and the total value of such companies--out of reach for small retail players--may surprise you. Shares topping the five-figure price mark were rare ten years ago. A look at March-end figures across the listed universe in 2011 shows only one such share. There were two by 2013.
'Investing in the stocks of holdcos can be a very efficient and inexpensive way of gaining exposure to the stocks of India's reputable growing business houses.'
'Calendar year 2023 is going to be big as pessimism takes a back seat.'
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
Stocks of new-age companies have seen a mixed performance thus far in calendar year 2023 (CY23). While those of One97 Communications (parent company of Paytm), PB Fintech and Zomato have surged up to 63 per cent year-to-date (YTD), FSN e-commerce, the parent company of Nykaa, however, has dropped 14 per cent YTD. By comparison, Nifty50 and Nifty 500 indices have advanced 7 per cent and 8.7 per cent, respectively, during the period, ACE Equity data show.
More than a dozen entities, both domestic and foreign, had come under the regulatory glare over alleged short-selling before and after the publication of the Hindenburg research report against Adani Group, two people familiar with the development said. The Securities and Exchange Board of India (Sebi), which is examining the rise in stock values of Adani Group in the past few years, is also scrutinising the trade data and trade pattern of these entities allegedly involved in short-selling and made significant profit. Enquiries in the trade pattern of these entities reflected a profit of over Rs 30,000 crore, pre- and post-Hindenburg saga, said one of the two people.
A hotel in 1975, entry into paperboards in 1979, India's dominant cigarette maker, ITC, read the tea - or tobacco - leaves early, leveraged its enterprise strengths and stepped up the diversification agenda to create multiple drivers of growth. Some failed, some faltered, some were transformational, adding steadily to the top line. Now those efforts are making a difference: margins from non-cigarettes - FMCG, hotels, agri, paperboards, paper and packaging - are expanding and profits are kicking in more significantly than ever before.
Tata Group on Wednesday announced an investment of 4 billion pounds (about Rs 42,500 crore) in setting up a flagship factory to make batteries for Jaguar Land Rover as well as other manufacturers. Tata Sons, owner of JLR, chose Bridgwater in Somerset in southwest England for the gigafactory over a rival location in Spain. The gigafactory, at 40GWh, will be one of the largest in Europe and Tata's first outside of India, the conglomerate said in a statement.
The stocks of Mumbai-based real estate companies have been hitting lifetime highs on expectations that launches, steady demand, and price increases in the largest real estate market in the country would boost their financials. Macrotech Developers (Lodha) and Oberoi Realty hit their all-time highs last week, while Godrej Properties came close to its 52-week high last month before witnessing a sharp correction.
Rakesh Jhunjhunwala's holding value in Nazara Technologies crossed the Rs 1,000-crore mark. In the past one month, the market price of Nazara, a diversified gaming and sports media platform, has zoomed 78 per cent. In comparison, the Sensex was up 3 per cent during the same period.
SpiceJet on Tuesday said shareholders have approved the transfer of its cargo and logistics services business to a subsidiary, on a slump sale basis, through an all-share deal worth over Rs 2,555 crore, a move that will help the airline to significantly reduce its negative networth. Besides, the shareholders have cleared the proposal to raise up to Rs 2,500 crore through the Qualified institutional placement (QIP) route. These developments also come at a time when the airline industry is slowly recovering after being battered by the coronavirus pandemic.
The retail industry witnessed robust top-line growth for the greater part of the previous financial year, but demand has started to show signs of fatigue seen in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23), especially in the apparel and innerwear segments. Jewellery, however, has managed to hold on to demand in the quarter. "In the discretionary space, demand moderation in urban markets is expected to impact the quick-service restaurant and apparel categories the most, while paint, luggage, and jewellery should see resilient growth," Systematic Institutional Equities observed in its preview of the sector.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
Modi is visiting the African country from August 22 to 24 at the invitation of South African President Cyril Ramaphosa. South Africa is hosting the first in-person summit of BRICS comprising Brazil, Russia, India, China, and South Africa, since 2019.
Street gave a thumbs down to Aditya Birla Fashion and Retail (ABFRL)-TCNS Clothing deal as analysts flagged near-term profitability risks for ABFRL with its latest acquisition. At the bourses, shares of the Aditya Birla group company tumbled 6.2 per cent in the intra-day trade, before settling 3.27 per cent lower at R 207.2. Those of TCNS, meanwhile, plunged 20 per cent to end at Rs 416.64.
The ever-astute Ravi Matthai, Director of Indian Institute of Management, Ahmedabad in 1971, offered me a basic salary of Rs 1,000 per month on my return from the United States. I doubt if IIMA could hire a faculty member at Rs 55,000 per month today! points out Dr Shreekant Sambrani.
In an online chat with readers, Naveenan Ramachandran, expert, 4GMAT addressed queries related to cracking the GMAT, admission at global b-schools and MBA abroad.
Adani Enterprises on Wednesday said it has decided to withdraw its fully subscribed Rs 20,000-crore follow-on public offer (FPO) and will return the proceeds to investors. The announcement came a day after the company's FPO was subscribed fully on the last day of the offer on Tuesday. "The Board of Adani Enterprises Ltd., (AEL) decided not to go ahead with the fully subscribed FPO.
'US officials must grapple with the possibility that one of its closest partners attempted an extrajudicial killing on its soil.' 'This is not something that friends typically do to friends.'
'It's a clear case of political patronage helping an individual grow.'
Many top B-schools attach more value now to academic record, bachelor's degree marks, work experience, performance in the personal interview, as well as gender and academic diversity -- resulting in a decline of the weighting to the CAT score.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
