Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country.
According to market experts, the buyers are expected to shell out in the "range of 500 to 600 crore INR" per team in the closed-bid auction for the women's IPL.
Downplaying concerns of delay, Amitabh Kant, managing director of Delhi-Mumbai Industrial Corridor Development Corporation (DMIC), says the project will be delivered on time.
The airport, which will now be built to handle 20 million passengers, will likely start operations by mid-2020. However, rating agency CRISIL in its report in May-end had said operations are expected to start in 2023.
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
Ajmer-born model and entrepreneur Rushali Yadav talks about her fashion journey.
Attacking the Samajwadi Party, Prime Minister Narendra Modi on Thursday said it supported rioters and the mafia, and fielded criminals in western Uttar Pradesh for the assembly elections.
'Some companies have agreed to 2-3% incentive but the automakers and SIAM have to decide amongst themselves'
Though the Patidar-dominated Morbi Assembly seat in Gujarat is considered a stronghold of the Bharatiya Janata Party, the poll equations this time may change due to many factors, including the recent bridge tragedy which claimed 135 lives, political observers say.
An amendment bill was passed in the state assembly on Monday night to insert a new section 27-A in the Rajasthan Tourism Trade (Facilitation and Regulation) Act, 2010.
So far the coronavirus, which originated in the Chinese city of Wuhan, has infected more than 54 million people around the world and killed over 1.3 million others.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
The new rules are aimed at providing a strong impetus to the industry and positioning India as one of the most competitive IT jurisdictions in the world.
The industry may account for just 0.05 per cent of the total volume of single-use plastics in the country. And the product it uses is just one among the 22 - including spoons, forks, plates, knives and trays - that will be banned across the country from July 1 by government order. Yet, it is the plastic straw that is at the centre of public focus as fast-moving consumer goods (FMCG) companies make a last-ditch effort to get the government to extend the deadline.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'
The chief minister further expressed the way he has been feeling about lakhs of men and women, and especially senior citizens, who can barely breathe in the toxic air, which is currently evolving in Delhi.
At least five people have been arrested by the city police which busted the scam earlier this month.
'Domestic will remain very much the core of what IndiGo is.' 'But the emphasis in our next growth phase is going to be on the international side.'
'The new cabinet intends to create an impression in people's minds that even if it is new, it is performing from day one.'
Tamil Nadu's latest budget offers path-breaking initiatives and major boost for social infrastructure, which other state governments are sure to follow in the coming years, predicts N Sathiya Moorthy.
Despite the absence of any notable price growth, transaction volumes are picking up in major Indian cities. The surge in sentiments is also backed by a significant rise in transparency in the industry.
'It is important that students not focus on the remuneration that the job fetches in the first year, but look at the next 5 year journey with that job role.'
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
People affected by the Navi Mumbai international airport insist they be allotted developed land as compensation, not cash as the land acquisition Bill, recently cleared by Parliament
Prime Minister Narendra Modi is in Tanzania where he held talks with Tanzanian President John Pombe Joseph Magufuli.
A host of dynamic reforms, policies and announcements during the last five years are expected to reach its logical fruition in the second term, says Ankit Kansal.
The purchase or construction of houses by large numbers of people can add meaningfully to India's economic growth, points out Neelkanth Mishra.
Chatterjee, who was the state education minister when the scam took place, was arrested after around 26 hours of grilling in connection with the probe.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
India's most valuable company Reliance Industries was once fined for producing more than its licensed capacity, its owner and richest Indian Mukesh Ambani said on Monday as he pitched for a push to manufacturing to make the country 'Aatmanirbhar' or self-reliant.
The real estate sector is set to enter a progressive phase in 2015.
'Those who say that conventional war is a thing of the past or that war is not an option, or that diplomacy alone can prevent war -- are wrong and we see that in Ukraine.'
Railway officials also indicated that possible 'sabotage' and tampering with the electronic interlocking system, which detects the presence of trains, led to the Friday accident.
HR Guru Mayank Rautela offers practical advice.
Chinese companies who were actively pursuing business opportunities in India have adopted a wait and watch approach following the Chinese government clampdown.
Militant labour policies compounded a poor security environment for capital in West Bengal and encouraged the business community to relocate. constraining the private sector's right to hire freely could well be the coup de grace. As with Calcutta/Kolkata, it will probably take a decade for Gurgaon/Gurugram to feel the difference, says Kanika Datta.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
The company's growth is fuelled by its success in China with presence in 337 cities with over 500,000 rooms, followed by growth in Indonesia with presence in 80 cities and over 20,000 rooms and other regions in Asia
