Billionaire Gautam Adani on Thursday said his logistics-to-energy conglomerate will invest $70 billion over the next decade to become the world's largest renewable energy company and produce world's cheapest hydrogen. Adani Green Energy Ltd (AGEL), the world's largest solar power developer, is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest $20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23. Adani Transmission Ltd (ATL), India's largest private sector power transmission and retail distribution company, is looking to increase the share of renewable power procurement from the current 3 per cent to 30 per cent by FY 2023 and to 70 per cent by FY 2030.
Government think-tank body Niti Ayog CEO Amitabh Kant supported the industry demand and called for setting up of a single window clearance system for expeditious approval of projects. Start-ups and small medium enterprises requested the prime minister to provide support in low-cost capital at the virtual launch of space and satellite industry body Indian Space Association (ISpA).
India should take 'measured approach' with stimulus packages to deal with COVID-19 by limiting interventions to the provision of food, shelter and basic necessities of life for all; forbearance on payments of outstanding loans; and extra provision of working capital including what will be necessary to cover outstanding wages from lockdown period to enterprises.
Hinduja Group's business process management entity, Hinduja Global Solutions Limited (HGS) said on Wednesday that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), at an enterprise value of $1.2 bilion. The deal is subject to closing adjustments, and is expected to complete within 90 days, subject to shareholder and other regulatory approvals. "The cash that will come in as a result of this transaction will be deployed to growing the business as well as looking at buying some capabilities...where capabilities are important for being able to do a good job of customer experience transformation.
The government has used four methods to value the assets that it is looking to monetise under its Rs 6-trillion National Monetisation Pipeline (NMP). The value of the assets on the block is indicative that the government is expected to realise either in the form of upfront accruals or by the way of private sector investment, NITI Aayog said in its report. Valuations are essentially estimates, so multiple methodologies are useful to get a range, said Manish Agarwal, infrastructure expert and co-founder of AskHowIndia.org. Different valuation methodologies depend on the different assumptions that are being considered for valuing a business, he said.
S&P Global Ratings on Monday said systemic risk in Indian banks is likely to remain high in the wake of the second wave of COVID-19 and high proportion of weak loans. S&P estimates the weak loans in banks at 11-12 per cent of gross loans.
'You cannot take success for granted.' 'That's the most important lesson that you learn being an entrepreneur.'
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
'An armed helicopter equipped with counter-drone systems will provide the airborne counter-drone capability and flexibility needed to protect India's critical assets.'
When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
Analysts say large firms in these segments don't need loan recast due to the efficient manner in which many of them operate.
Risk aversion is currently a dominant depressant to economic recovery, points out Shankar Acharya, former chief economic advisor to the Government of India.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each
So far, there seems to be limited debate about their activities in India, where virtually all FAANG companies have teamed up in different ways with India's most powerful businessman, observes T N Ninan.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The first nationwide mock drill was held on January 2 which, the health ministry said, helped to iron out any glitches in the final execution and further refinement of the operational procedures.
Young Indian entrepreneurs hope to share some of the limelight too at the Hyderabad event.
News of all that transpired on and off the football field.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
What these elections prove beyond any doubt (if ever there was one) that Modi's hold over public mind and Shah's mastery of election management are unparalleled. It doesn't seem likely that they will be matched any time soon in the Indian political scene, reaffirms Shreekant Sambrani.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
In the first dedicated mission of its commercial arm New Space India Limited (NSIL), the Indian Space Research Organisation on Sunday successfully launched Brazil's earth observation satellite Amazonia-1 and 18 other co-passengers, including five built by students, onboard a Polar rocket from the spaceport in Sriharikota.
PNB has rich experience in the integration of commercial banks.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Together, they controlled nearly Rs 26 lakh crore of assets at the end of FY16.
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
The government kept its nerve in the face of a massive shock. It chose not to resort to a massive fiscal stimulus. It focused instead on providing liquidity support and easing restrictions on movement in stages, observes T T Ram Mohan.
'What has gained prominence are 'human' skills like creativity, originality and initiative, critical thinking, persuasion, and negotiation, as well as attention to detail, resilience, flexibility and complex problem-solving.'
Here's the full text of address to the nation by President Ram Nath Kovind on the eve of the Republic Day 2022.
To generate ample private sector interest, there is a need to introduce market-linked tariff rates.
ED attached 21 properties of Nirav Modi and his group worth over Rs 523 crore.
It is betting on enterprise services and new launches to revive demand. But are the measures enough to steal a march on established players like Samsung and Micromax?
There is growing alarm at the inexorable rise of China, both of its military prowess and its aggressive bullying of other countries plus its subjugation of whole portions of its own population.
If India wants to become a globally competitive manufacturing hub, it will have to rethink the notion that the traditional SMEs will form the manufacturing backbone, argues Prosenjit Datta.
