Roughly 40% of this projected outlay is expected to go towards emerging industries, including green hydrogen, clean energy, semiconductors, and electric vehicles.
The sharp rally in the broader markets has propelled India's market capitalisation (m-cap) to a new high. The combined m-cap of all BSE-listed firms rose to Rs 291.9 trillion in intraday trade on Thursday before settling lower at Rs 290.9 trillion. The previous record was on December 14, 2022, at Rs 291.3 trillion.
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.
Gautam Adani, head of the Rs 45,000-crore Adani group that is in the midst of a controversy, with the Congress party charging the BJP's prime ministerial candidate Narendra Modi with showing special favours to them speaks to CNN-IBN.
The country's leading cement maker UltraTech on Thursday said it will acquire a 23 per cent stake in its Chennai-based rival India Cements Ltd, in a deal estimated to be around Rs 1,885 crore. As part of the transaction, UltraTech Cement will acquire 7.06 crores equity shares of India Cements at a price of up to Rs 267 per share, according to a regulatory filing from the Aditya Birla Group flagship firm.
State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
Even before the first votes are counted in Maharashtra, fissures have emerged within the ruling Mahayuti and the opposition Maha Vikas Aghadi (MVA) on who will head the next government. Both camps are claiming the chief minister's post, with constituents in both camps laying claim over the chief minister's post. The MVA, consisting of the Congress, Shiv Sena (UBT) and NCP (SP), and the Mahayuti, comprising the BJP, Shiv Sena and NCP, have expressed confidence that their respective alliance will form the next government after votes are counted on Saturday. While a majority of exit polls have predicted that Mahayuti will retain power, a few have favored the MVA.
The operator, Adani Group, said it has "planned a runway closure on October 18 from 11 am to 5 pm, for repair and maintenance work on both its runways", as part of its annual post-monsoon preventive maintenance exercise.
"What would be your advice for investors?" 'Keep it simple. Don't panic.'
In our mystery the watchdog agencies are silent, but it is the market that has barked and has not stopped barking. Till such time as it continues to do so, this headache will not go away, notes Aakar Patel.
Larsen & Toubro, Axis Bank, Reliance Industries, UltraTech Cement, Mahindra & Mahindra, IndusInd Bank, ICICI Bank and Tata Steel were the other big gainers. Sun Pharma, HCL Technologies, Asian Paints, Nestle and Infosys were the laggards.
SBI blamed poor coal prices for the decision to turn down the loan request.
The Lok Sabha's Ethics Committee will hold its first meeting on Thursday on the allegations against Trinamool Congress MP Mahua Moitra, with Bharatiya Janata Party parliamentarian and the complainant Nishikant Dubey and advocate Jai Anant Dehadrai scheduled to record their statements.
Sharad Pawar's comments were at variance from ally Shiv Sena-UBT, whose leader Sanjay Raut had said PM Modi should come forward to inform about his academic qualification and that his degree should be displayed at the entrance of the Parliament building.
Environmental campaigners say they hope two outstanding court cases can still stop India's Adani Enterprises Ltd from developing a A$10 billion ($7.6 billion) coal project.
Benchmark BSE Sensex and Nifty closed higher in a highly volatile trade on Monday, riding on the back of a recovery in IT, oil and financial stocks after a two-day fall. The 30-share Sensex recovered 169.51 points or 0.29 per cent to settle at 59,500.41. During the day, it rose by 313.34 points or 0.52 per cent to 59,644.24.
No single individual, institution, or action is to blame for this. The BJP is responding in kind -- definitely not without checking with its government. And they wait for Mr Trump, notes Shekhar Gupta.
Buch, under a cloud over allegations of conflict of interest levelled by United States-based short-seller Hindenburg, was asked to appear before the PAC, which is reviewing the performance of the market regulator.
Trinamool Congress members and some from the Congress trooped in the Well of the House raising slogans demanding a copy of the report.
The $22.8 billion CK Hutchison ports deal intensifies geopolitical tensions between the US and China. Chinese media has already called it 'a betrayal of all Chinese people'. Shyam G Menon explains how the proposed sale will reshapes global trade infrastructure.
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
This will add to the woes of the conglomerate that had received a show-cause notice from the Directorate of Revenue Intelligence (DRI) last week for alleged over-valuation of imported machinery by Rs 2,000 crore.
Adani Enterprises, the flagship company of the Adani Group, reported a profit after tax of Rs 557 crore for the first quarter ended June 30, 2014 on the back of a 43 per cent jump in revenue.
Moitra said she has been found guilty of breaching a code of ethics that does not exist and that there was no evidence of cash or gift given to her.
The Supreme Court on Monday dismissed a petition filed by the Kerala government against the state high court verdict rejecting the pleas challenging the Centre's decision to lease out Thiruvananthapuram International Airport to Adani Enterprises Ltd.
As soon as Lok Sabha assembled, opposition members stormed into the well holding placards and shouting slogans. They demanded a Joint Parliamentary Committee probe into the alleged stock manipulation by the Adani Group.
Congress president Mallikarjun Kharge has called for tough decisions and unity within the party after the Congress suffered electoral defeats in Maharashtra and Haryana. In a meeting with top party leaders, Kharge highlighted the need to strengthen the organization from the grassroots, fix accountability, and address internal bickering. He also urged leaders to remain united and avoid public criticism of each other. The Congress chief expressed concern over the party's performance in state elections despite a strong showing in the Lok Sabha polls earlier this year. He acknowledged the need to learn from the setbacks and improve the party's strategy and communication to counter its rivals' propaganda.
Adani Mining is building a 300-km rail line for its about $16 billion Carmichael coal mine project in Australia.
The expelled Lok Sabha member from Krishnanagar in West Bengal, in her plea filed in October last year, sought permanent injunction against Dubey, Dehadrai, social media platforms X, search engine Google, YouTube and 15 media houses from making, publishing, circulating per se defamatory, ex facie false and malicious statements against her. She has also sought damages.
'I believe that as we produce more, our cost will come down further. We will maintain our competitiveness.'
Moody's Investor Service on Tuesday said banks' exposures to Adani are not large enough to affect their credit quality materially. "While we estimate that the exposures are larger for public sector banks than for private sector banks, they are smaller than 1 per cent of total loans for most banks," it said. "Risks for banks can increase if Adani becomes more reliant on bank loans."
The Board of Approval (BoA) on Special Economic Zones (SEZs), the apex decision-making body for such tax-free industrial enclaves, today approved a proposal to amalgamate three separate zones, effectively lifting the 5,000-hectare limit on such zones that the government imposed in 2007.
For the first time since its inception in 2006, the Board of Approval on special economic zones in its next meeting in March will take up a proposal from a developer to merge these tax-free industrial enclaves for exports.
Foreign Portfolio Investors (FPIs) pumped in Rs 43,838 crore in Indian equities in May, the highest level in nine months, supported by strong macroeconomic fundamentals, and reasonable valuations. FPIs continued the buying stance in June too, and invested Rs 6,490 crore in just two trading sessions of the month, data with the repositories showed. VK Vijayakumar, chief investment strategist at Geojit Financial Services, said that inflow by FPIs will continue in the current month since the latest GDP data and high-frequency indicators reflect a robust economy gaining further strength.
90 prominent Australians warn Indian energy giant Adani that its controversial coal mine project in Queensland could damage bilateral ties and even affect sporting links.
Adani described the meeting as warm and productive.
The decline in LIC's share price makes it the biggest wealth destroyer among IPOs which hit the market after COVID-19 took hold globally in 2020.
'Israel would make Iran and its proxies pay. They, along with Qatar, fund terror all over the world.'
Retail investors have been the hardest hit in the recent market downturn, with stocks where they hold over 20% falling 45% from their 52-week highs.
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