Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
The JSW Group has expressed interest to develop a 900 MW pumped storage hydel power project and a state of the art rolling shop for steel in West Bengal, company chairman Sajjan Jindal said on Wednesday. He announced the projects while addressing the inaugural session of the Bengal Global Business Summit, organised by the state government, in Kolkata. "We are keenly pursuing a 900 MW hydro pumped storage project. "This will bring clean energy to the state and we hope to receive this prestigious project through a nomination from the state government," Jindal said.
The civilian leadership informed the military authorities that Sharif's hour-long meeting with Jindal was a part of back-channel diplomacy. And Jindal had the backing of some important Indian officials for the meeting to defuse ongoing tension between the two countries, the report said.
During the first eight months of CY24, 50 IPOs mobilised Rs 53,453 crore.
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
The UP government said Yogi returned with investment proposals worth over Rs 5 lakh crore from Mumbai.
Steel maker JSW Steel's Q3 results, announced on January 24, 2025, after market hours, failed to meet Street expectations. The company reported a consolidated net profit attributable to the owners of Rs 717 crore in Q3FY25, reflecting a 70.3 per cent decline Y-o-Y, compared to Rs 2,415 crore in Q3FY24.
Hitesh Harisinghani/Rediff.com captures glimpses from one of Mumbai's famous heritage buildings, the newly renovated David Sassoon Library and Reading Room.
A home in Mumbai or Delhi or one in New York? Or perhaps one in London or Dubai? Take your pick because they all now cost nearly the same.
Announcement for the Rs 4,000-crore acquisition likely today.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
Infosys co-founder N R Narayana Murthy stirred a storm on X when he said young people should work 70 hours a week to level up the country's productivity. In a conversation with former Infosys CFO Mohandas Pai in the inaugural episode of 3one4 Capital's podcast 'The Record,' Murthy said that youngsters should put extra hours at work to compete with leading economies. "India's work productivity is one of the lowest in the world. Unless we improve our work productivity...we will not be able to compete with those countries that have made tremendous progress," he said, comparing India with China, Japan and Germany.
Sajjan Jindal-promoted JSW Steel on Tuesday announced the acquisition of Jindal United Steel Corporation, Saw Pipes USA and Jindal Enterprises LLC
At least three steel companies-JSW Steel, Jindal Stainless and Bhushan Steel-have decided to wait for the financial storm to pass before they take up their expansion plans. Ministry may not achieve target to cross 100 MT output by 2012.
Sajjan Jindal's model of making land-losers stakeholders in his Bengal project appears to be attracting others.
JSW Steel plans to abandon its coal mining project in Mozambique because of higher than expected ash content in the coking coal.
The project at Salboni was welcomed by people and political parties alike, manifested by festoons welcoming Sajjan Jindal from all parties along the road leading to the site. Jindal complemented the mood at the ceremony with his farmer-friendly speech. "Industry and agriculture go hand-in-hand. My father, O P Jindal, was a farmer and he told all his sons that no wrong must be done to farmers," he said.
JSW Energy, the group company of Jindal South West headed by Sajjan Jindal, will launch its initial public offer within two months to raise Rs 3,000 crore (Rs 30 billion) to fund 3,000 Mw of power projects under construction. It aims to become a major power producer with about 11,400 Mw of generation by 2015, besides venturing into power transmission and distribution business and investments in renewables like solar energy.
Though the ruling Left Front in West Bengal recorded its worst performance in the recent Lok Sabha polls, industrialists appear to be unperturbed by the changing political wind in the state and believe industrialisation will continue.
Sajjan Jindal, vice-chairman and managing director of JSW Steel and one of West Bengal's most valued investors, said that he would have compensated unwilling farmers with double the land 800 acres next door in return for land for the Tata Motors factory at Singur.
Large steel producers had reduced prices up to Rs 4,000 per tonne on request of Prime Minister Manmohan Singh on May 7. They had also agreed to hold the price line for the next three months. The three-month price moratorium expires in August.
At a time when instability in the US leveraged buyout (LBO) market is making world equities markets jittery, JSW Steel is planning a leveraged buyout of a North American steel company.
Terming the home loans package of PSU banks highly inadequate, Assocham President Sajjan Jindal demanded that the government peg the interest rate on housing loans up to Rs 30 lakh at 6% and at 8.5% for loans above this amount.
Mukesh Ambani has got company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal.
Oil economists have been arguing the world over, a full removal of subsidies is the only way consumption will fall
'It might not have a direct impact on the domestic steel industry but will improve India's position in the global market.'
Jindal Steel and Power and JSW Steel, are in competing talks to buy parts of insolvent Italian steelmaker Lucchini.
It plans to ship in 10 million tonnes of iron ore this fiscal year ending March 31.
CII president K V Kamath, Federation of Indian Chambers of Commerce and Industry president Rajeev handrasekhar and Assocham President Sajjan Jindal held discussions with Chidambaram immediately after Prime Minister Manmohan Singh had interacted with a larger industry group. The government as also the Reserve Bank of India have taken a number of steps since beginning of October to ward off the Indian banking system from the global financial contagion.
A directional landmine blast took place at Baroa, 17 km from Salboni, from where the West Bengal CM, Paswan, state industry minister Nirupam Sen and industrialist Sajjan Jindal were returning after laying the foundation stone of Jindal Steel Works plant, police said.
Harvard-educated Piramal is also in the boards of several companies, including Piramal Life Sciences, SBI Capital Markets Ltd and Prudential ICICI Management.
Experts say that until the market bounces back to a respectable level and creates confidence among investors, who could look forward to some price appreciation, IPOs will not be successful.
India has attracted investment worth $1.6 billion for projects in the fields of power, steel, construction and engineering special economic zones from Japanese companies.
It's been months since Jindal returned the private land to the state government, free of cost, but not a cottah has been distributed
Earlier this month, the high court asked Sesa Goa and JSW Steel to re-bid.
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