US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
Modi's party also wants to regulate property markets and tie investor money to specific projects to stop developers diverting cash elsewhere.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
'It is flabbergasting to think that this heavenly region has, for decades, been coveted by India's aggressive neighbours,' says Claude Arpi after a recent visit to Ladakh. 'Wanting to use the newly created infrastructure to defend the borders after the clash of 2020 with China and the resulting standoffs, the home ministry is keen to boost border tourism to show that these areas are controlled by India.'
The Central Public Works Department, a prime construction agency of the central government, said the bullet-proof window system of the selected bidder will be sent for testing at the forensic science lab in Gujarat's Gandhinagar.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
In addition to these temple models, metallic rings, lockets and other cloth items bearing Lord Ram's name are flying off the shelves in Ayodhya, according to shopkeepers.
The construction work of 4x130 MW Tapovan Vishnugad project started in November 2006. The project includes the construction of a concrete barrage at Tapovan (15 km upstream of Joshimath town).
Employees asked to work from home... cancelled travel plans... curtailed meetings... Caution and precaution dominate Corporate India's response to Covid-19.
The 59-year-old legislator from the Samalkha in Panipat district is stated to be the 'owner and promoter' of the Mahira real estate group along with his sons Sikander Singh and Vikas Chhoker.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
The Narcotics Control Bureau (NCB) on Saturday said it has arrested Jaffer Sadiq, a Tamil Nadu-based alleged dealer of narcotics, in connection with an international drugs trafficking investigation case.
The decision would help provide ease of doing business and also lead to larger FDI inflows contributing to growth of investment, income and employment.
"The idea is to inform industries about sustainable practices that will reduce their carbon footprint as well as boost their bottomlines," Smarter Dharma founder Sriram Kuchimanchi tells Geetanjali Krishna.
Spending has begun rising in infrastructure, construction and Indian firms have started to benefit.
This order is a part of the $5,941.93 million or Rs 35,000-crore (Rs 350-billion) project, which is to be implemented in 4 years.
Tata Steel UK is reformatting its operations in Port Talbot by investing 1.25 billion in an electric arc furnace facility with the UK government contributing 500 million. The project will take around three years to complete, if all the regulatory clearances come through. The facility will use scrap and be classified as green since it will utilise renewable power and cut carbon emissions considerably.
Tata Power declared encouraging results for the April-June quarter (Q1) of the 2023-23 financial year (FY24). The firm's revenue rose 5 per cent year-on-year (Y-o-Y) to Rs 15,210 crore. It was driven by higher sales to distribution companies (discoms) and capacity addition in renewables. Company's adjusted profit after tax (PAT) rose 3 per cent to Rs 906 crore with reported PAT at Rs 1,100 crore on a one-time gain of Rs 235 crore.
Government does not have adequate money to fund the projects and the framework to award contracts is flawed, too.
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
Rediff reader Srinivas Samudrala, 58 from Telangana shares his story.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
An improvement in the wind speed November 21 onwards might bring air pollution levels down.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
Construction industry is witnessing a booming business in Africa and Asia.
$5 mn FDI must come in six months: Govt to construction firms.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'Hundreds of engineers have complained that they are being threatened by criminals for allotment of contracts and extortion.'
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
A team of over 200 people worked round the clock as INSTACON, the much talked about building constructed in Mohali, met its 48-hour deadline on Saturday to enter into record books as the fastest completed such building in India.
L&T on Thursday said its construction arm has won a large contract for the bullet train project. L&T Construction has bagged the project from National High-Speed Rail Corporation Ltd (NHSRCL). "The railways business of L&T Construction has secured acontract from NHSRCL to construct 116 route km of High-Speed ballastless track works for Mumbai-Ahmedabad High-Speed Rail (MAHSR) project, popularly referred to as the bullet train project," the company said in a statement.
A family priest performed the prayers as per Parsi tradition before the last rites.
Computer storage chip maker Micron will set up a semiconductor assembly and test plant in Gujarat entailing a total investment of $2.75 billion (around Rs 22,540 crore), the company said on Thursday. Micron will invest up to $825 million in setting up the plant in two phases. Micron's plant has been approved under the government's "Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme,".
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
Once a quality stock has been bought, the next challenge is to hold on to it -- no mean feat in this age of information overload and incessant noise.
Financial services and consumer durable companies accounted for most of the selling by foreign portfolio investors (FPI) in the last fortnight of February. FPIs sold finance stocks worth Rs 2,263 crore and consumer durable stocks worth Rs 1,111 crore, according to data collated by Prime Infobase. Information technology (selling worth Rs 708 crore), metals and mining (Rs 694 crore), and power (Rs 497 crore) were the other sectors where overseas funds sold shares.
As FIIs pull out of road projects, doubts have surfaced about the future of new highways and roads
'The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.'
Project Vivaan won big at the Solar Decathlon, placing second overall (and missing the first position by a whisker). Members of the award-winning Team Shunya tell Mrigank Warrier how they built a carbon-neutral, water-neutral, energy-positive home for a family of four.
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