Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
Apple Inc's leading contract manufacturer, Taiwanese giant Wistron, has exceeded its investment obligation in India in just eight months, although the government's production-linked investment (PLI) scheme allowed it to complete the investment in four years. Between August 2020 and end March 2021, Wistron made an investment of Rs 1255 crore - 25 per cent more than the total investment it had committed to the government. Under the PLI scheme for mobile devices, the government had stipulated that each of the five participating global companies needed to invest Rs 250 crore every year for the first four years, totalling Rs 1,000 crore.
Work is also progressing on 17 strategic highway-cum-airstrips, three of which have been completed, he said. Besides, work is on in full swing on the Rs 12,000 crore ambitious Chardham project for providing all-weather connectivity to Gangotri, Kedarnath, Yamunotri and Badrinath.
"Our patience is a sign of our self-confidence, but no one should make the mistake of testing it," Gen Naravane said.
India will not allow Chinese companies to participate in highway projects, including those through joint ventures, Union Minister Nitin Gadkari said on Wednesday amid the border standoff with China. Gadakri also said the government will ensure that Chinese investors are not entertained in various sectors like the micro, small and medium enterprises (MSMEs).
Adani Enterprises, the flagship company of the Adani group, on Monday said it had entered into a 50:50 joint venture (JV) with EdgeConnex, a leading global data centre operator, to develop and operate data centres across India. The idea behind the JV, AdaniConneX, was to leverage the two partners' complementary expertise and capabilities, it said. In addition to full-scale data centres, AdaniConneX will also develop a portfolio of Edge data centres strategically located across the country to address the need for more proximate capacity.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
With the changes in the workplace, in-demand skills, flexibility and being tech-savvy will help you save your job.
The business will also see a change of guard. Shailesh Chandra, president of EV and corporate strategy, will replace Mayank Pareek as president of PV business, including EV, with effect from April 1. Pareek will be superannuating from the company after a six-year stint at the end of February 2021. Chandra and Pareek will work on transition over the next few weeks.
IT major Infosys Technologies will start construction work on its first software development centre in West Bengal, at Rajarhat near here, in three to six months, a top company official said on Friday.
It's a race among real estate developers to complete a floor quicker than the rest. With timely delivery of projects turning into a selling point, innovative technology is being put to use by realtors like never before.
The highest ever average daily construction rate of 130 km has been achieved for rural roads
China Construction forms consortium with Gurugram-based realty developer Tulip Infratech for road projects in India
China on Tuesday alleged that US billionaire Elon Musk-owned SpaceX's satellites had two 'close encounters' with its space station in orbit, and has complained to the United Nations about the incidents which endangered the safety of the Chinese astronauts.
Choosing your company's name? MCA lists examples to avoid any duplication. The Ministry of Corporate Affairs made it clear that the use of different phonetic spellings, including the use of misspelled words of an expression, would be treated as same.
Veteran atomic scientist and former chairman of Atomic Energy Commission Dr Sekhar Basu succumbed to Covid-19 early on Thursday at a private hospital in Koklata, a health department official said. He breathed his last just three days after turning 68.
83% of the CEOS plan to hire more in the new year.
Speaking at a fireside chat with Microsoft CEO Satya Nadella, he said the big change driving this transformation was the deepening of mobile networks which were working at a much faster pace than before.
The DG of the ITBP said his troops have been provided with special winter clothing and nutritious food as they brave the severe chill in eastern Ladakh where the armies of India and China are locked in a tense standoff for over six months. He said 'strains in bilateral relations are already evident but we are confident these will be sorted out peacefully very shortly'.
The P-8I, which is widely acknowledged to be the world's most deadly LRMR-ASW aircraft, is a derivative of the Boeing 737-800 airliner, onto which a plethora of sensors and weaponry has been fitted.
The only fuel that showed growth was LPG as the government dole of free cooking gas cylinders to poor households fired up consumption by 21 per cent during April 1 to 15.
The defence minister also said that India attaches importance to peaceful resolution of differences through dialogue and is committed to respect various agreements inked for maintenance of peace along the borders.
In another milestone for the DMRC, driverless train operations on 59-km Pink Line of the Delhi Metro were flagged off on Thursday.
China on Friday operationalised its first fully electrified bullet train in the remote Himalayan region of Tibet, connecting the provincial capital Lhasa and Nyingchi, a strategically located Tibetan border town close to Arunachal Pradesh.
President Biden underscored that the United States will 'continue to stand up for its interests and values and, together with our allies and partners, ensure the rules of the road for the 21st century advance an international system that is free, open, and fair', the White House said in a readout of the meeting.
Organisations value employees who go beyond their boundaries and step up to the occasion when the need arises.
Does IAS officers' work go unappreciated, asks Ajit Balakrishnan.
'We would advise investors to invest in a disciplined way in equities for the long term.'
Almost 3.3 million houses awaiting completion under the IAY will be built by the end of 2016-17.
Leadership, teamwork, communication, productivity, and wellness skills are essential for every employee's success.
India's economy could prove to be the "most resilient" in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country's large market will continue to attract investments. The report titled 'Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021', and compiled by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), stated that inward FDI flows to South and South-West Asia slightly decreased by 2 per cent in 2019, from $67 billion in 2018 to $66 billion in 2019. The growth, however, was mainly driven by India, which accounted for 77 per cent of the total inflows to the subregion and received $51 billion in 2019, up 20 per cent from the previous year.
In a communication to state units and other senior office-bearers, BJP general secretary Arun Singh said all big state units will hold at least two virtual rallies and smaller units will hold one, adding that more than 750 people should attend each of these programmes.
IT and IT-enabled services will be allowed to operate with essential minimum staff only while the rest would work from home.
Ecorithm's powerful suite of technologies can be applied to build systems and various other enterprise solutions to improve operations.
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'There will always be hiccups given that the Namami Gange programme is spread over different sectors and involves several agencies.'
China's President Xi Jinping congratulated scientists on the complete success of the Chang'e-5 mission.
'The young generation doesn't want to work with old hats like me.' 'They don't understand that we are brighter and wiser because of our experience.' 'We can take them on the right path, but they should keep their ears open.'
