In its draft red herring prospectus, the company had sought to raise Rs 2,200 crore, but sources said the issue size could be raised to Rs 3,000 crore, making it the first big issue after the Reliance Power IPO in February last year.
From 30 Sensex firms, Adani Ports, NTPC, Power Grid, State Bank of India, Nestle, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the biggest laggards. Axis Bank, Infosys, JSW Steel, Tata Motors, HDFC Bank and Kotak Mahindra Bank were among the gainers from the blue-chip pack.
The Congress top brass headed by party chief Mallikarjun Kharge held a review meeting on Thursday on the party's shock defeat in the Haryana assembly polls and discussed the possible reasons for the 'unexpected' results.
Asian Paints, JSW Steel, ITC, Bajaj Finance, IndusInd Bank, Tata Steel, NTPC, Bajaj Finserv, HDFC Bank, Reliance Industries and Power Grid were among the laggards. In contrast, Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys and HCL Tech were the gainers.
Top names in the power and infrastructure sector, including Reliance Power, Lanco Kondapalli and Spanish firm Isolux Corsan, have evinced interest in setting up two power plants in Uttar Pradesh's Allahabad district.
The power sector has been notorious for missing capacity addition targets and it remained just that in 2008.
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers. Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
Billionaire Mukesh Ambani's Reliance Industries has invested euro 25 million in German solar wafer maker NexWafe GmbH to use the firm's technology to set up giga-scale wafer manufacturing facilities in India. "NexWafe GmbH (NexWafe) today announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its euro 39 million ($45 million) Series C financing round with an investment of euro 25 million ($29 million) in phase one," the Indian firm said in a late Tuesday evening statement. The investment by Reliance will accelerate product and technology development for NexWafe, including the completion of the commercial development of NexWafe's solar photovoltaic products on prototype lines in Freiburg.
Prime Minister Narendra Modi on Thursday said a country can aim for high achievements only if it has a big vision and asserted that technology upgradation should be to empower the poor. Speaking after launching via video link three PARAM Rudra supercomputers, developed indigenously under National Supercomputing Mission, Modi asserted that today's India is carving new opportunities in the infinite sky of possibilities. Modi said his government has taken steps to ensure research in technology benefits the common man.
Power Grid was the biggest gainer on the Sensex chart, rising 2.54 per cent, followed by Tech Mahindra, Bajaj Finance, NTPC, UltraTech Cement, Larsen & Toubro, Tata Steel, Bharti Airtel, Bajaj Finserv and HCL Technologies. In contrast, Mahindra & Mahindra, Hindustan Unilever, Infosys and Titan were among the laggards.
A non-strategic investor like Poonawalla brings in not only capital but also creative freedom. Indian cinema needs more investors like him, reports Vanita Kohli Khandekar.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced the buyout of British battery maker Faradion Ltd for an enterprise value of 100 million, as the oil-to-retail conglomerate continued with the acquisition of end-to-end technology for its multi-billion-dollar clean energy portfolio. Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion for an enterprise value of 100 million and will invest an additional 25 million as growth capital to accelerate the commercial roll-out, the company said in a statement. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
In a meeting chaired by state chief secretary Atul Kumar Gupta yesterday, the ETF recommended invitation of fresh bids for setting up the power plants at Bara and Karchhna in the Allahabad district. However, this has to be ratified by the state Cabinet first to take effect. This would be the third time that the state government would invite bids for the two power plants, which have failed to take off in spite of much fanfare with which they were initially announced.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
Equity benchmark BSE Sensex tumbled nearly 700 points to sink below the 79,000 level on Tuesday, extending its losses for the second straight day due to selling pressure in HDFC Bank, SBI and ITC amid fresh foreign capital outflows. The 30-share BSE Sensex tumbled 692.89 points or 0.87 per cent to settle at 78,956.03. During the day, it tanked 759.54 points or 0.95 per cent to 78,889.38.
Here is the Brahma Mantra for mankind. So long as the world has leaders with judgement -- humane, compassionate, and no-nonsense in their thinking -- natural intelligence will prevail, notes R Gopalakrishnan.
Indian companies led by Anil Ambani's Reliance Power (RPower), Nuclear Power Corporation of India (NPCIL) and Bharat Heavy Electricals (BHEL) plan to invest over Rs 100,000 crore in the next five years to expand their presence in the nuclear energy sector after the country signs the nuclear agreement with the US, paving the way for import of fuel and transfer of technology.
Tata Power Company has moved the Delhi high court challenging the government's decision to allow Anil Ambani-led Reliance Power to divert coal from the captive mines of Sasan Ultra Mega Power Project for use in other projects.
Having marked a 20-year milestone in India, global tech giant Google is upbeat about its next innings here with Artificial Intelligence (AI) playing a big role in it, India MD Roma Datta Chobey said on Thursday, adding that the company is aligning its vision and strategy fully to the country's growth and ambitions. In an interview to PTI, Chobey said Google believes that AI should be regulated but in a way that strikes a fine balance between user benefit -- which is "still at a nascent stage" -- and at the same time, fosters innovation.
From the Sensex basket, PowerGrid, Bharti Airtel, Wipro, HDFC Bank, Kotak Mahindra Bank, UltraTech Cement, Asian Paints, Infosys and Reliance Industries were the major laggards. Bajaj Finance, NTPC, Larsen & Toubro, Axis Bank, Tata Motors, IndusInd Bank and Bajaj Finserv were among the gainers.
'Given China's past behaviour and their territorial claims, should we be sceptical regarding China's willingness to adhere to these agreements fully? The answer is yes.' 'As Ronald Reagan famously said in the context of the SALT talks, 'Trust, but verify!' India should also do the same.' 'This has already begun with foot patrolling, drones, satellite imagery and so on. India's military deployment did mirror China's and will continue to do so in the future.'
Among the 30-share Sensex pack, State Bank of India, Reliance Industries, Hindustan Unilever, NTPC, Larsen & Toubro, Nestle India, Power Grid, ITC, JSW Steel and Sun Pharmaceuticals were the major gainers. On the other hand, HDFC Bank, Titan, Mahindra & Mahindra, IndusInd Bank, UltraTech Cement, Tata Motors, HCL Technologies and Asian Paints were among the laggards.
Among Sensex shares, Hindustan Unilever, Bharti Airtel, Tech Mahindra, Infosys, Mahindra & Mahindra, ICICI Bank, ITC and Asian Paints were the biggest winners. On the other hand, Kotak Mahindra Bank, Reliance Industries, NTPC, UltraTech Cement and Power Grid were among the laggards.
The proposed Krishnapatnam ultra mega power project - the third 4,000 Mw project to go under the government's hammer - has attracted just three bids from Sterlite, Reliance Power and Larsen & Toubro, though there were nine qualified bidders for the project.Those who have not bid after expressing an interest include Essar Power, NTPC, Japan's Sumitomo Corporation, China Light and Power (with GMR) Israel Electric Company (with DS Construction) and Tata Power.
The participation of the three vice chiefs in the Tarang Shakti exercise demonstrated the growing focus on cross-domain cooperation, with land, sea, and air forces working together to face modern challenges, an official said.
Half of the 10 IPOs to have hit the market since the beginning of this year have been from the real estate space. J Kumar Infra Projects, KNR Constructions, SVEC Constructions and the now withdrawn Emaar MGF are the worst hit, according to analysts.
Referring to the Central Bureau of Investigations probe ordered into his family assets, Yadav alleged Congress president Sonia Gandhi and Union Home Minister Shivraj Patil were after him.
Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers. Tata Consultancy Services, Sun Pharma, Infosys and Tata Motors were among the laggards.
Hearing the petition by Tata Power against a decision of the Empowered Group of Ministers to allow use of coal from the captive mines for Sasan Ultra Mega Power Project to other projects, the Court did not give a stay and fixed the next date for hearing on February 24.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
One of the main factors that created a big hype for the R-Power initial public offer, said experts, was its grey market premium of over Rs 400 on January 18 -- the day the issue closed. R-Power collected a record $180 billion (Rs 710,000 crore or Rs 7,100 billion) as the issue was subscribed 72 times.
Sources said the leaders during the meeting discussed the possible reasons for the "unexpected" results in Haryana and decided to set up the team to ascertain the reasons behind such results and also look into complaints of "discrepancies" in EVMs, as alleged by party candidates.
Power will become dearer to subscribers of Reliance Energy Ltd by 19 per cent on an average for the period between April 24, 2007, and March 31, 2008, after the new tariff order was released by the Maharashtra Electricity Regulatory Commission.
Among the 30 Sensex companies, Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, State Bank of India, Infosys, Wipro, Tech Mahindra and HCL Technologies were the gainers. On the other hand, Titan, Maruti, Bharti Airtel, Larsen & Toubro, NTPC, Reliance Industries, Bajaj Finance and Power Grid were among the laggards.
Among the 30 Sensex companies, Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries and NTPC were the biggest gainers. Tech Mahindra, Infosys, Wipro, HCL Technologies and Titan were among the laggards.
Among the 30 Sensex companies, Mahindra & Mahindra, Power Grid, Sun Pharma, Nestle, UltraTech Cement, NTPC, ITC, ICICI Bank, Titan, Bajaj Finserv, Bharti Airtel, and HDFC Bank were among the biggest gainers. IndusInd Bank, Adani Ports, Tata Steel, Reliance Industries, Axis Bank and Bajaj Finance were among the laggards.
From the time he first rose to prominence during the movement against the then UPA government, Arvind Kejriwal has regularly grabbed headlines for his surprise moves and decisions. Here are 10 such instances.
Tatas, Essar, Reliance Energy and L&T are among the dozen companies in race to build India's first fully independent private power transmission lines in Gujarat and Maharashtra at an estimated investment of Rs 1,500 crore (Rs 15 billion).
Among the Sensex firms, Power Grid, IndusInd Bank, Maruti, Wipro, Tata Steel, JSW Steel, Asian Paints, Mahindra & Mahindra, Reliance Industries and UltraTech Cement were the biggest laggards. Hindustan Unilever, Infosys and Tata Consultancy Services and Bharti Airtel were the gainers.
In the revised financial bids, Anil Ambani-controlled Reliance Power had emerged as the lowest tariff bidder last month vis--vis other power majors such as Lanco Infratech and National Thermal Power Corporation. Official sources said the government might go for re-bidding to bring down the quoted tariff, which is observed to be on the higher side. The ETF will meet on July 19 to take a final view.
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