- Business
- October 24, 2024
Adani Enterprises Raises USD 500 Million Primary Equity to Further its Growth Plans
Ahmedabad: Adani Enterprises Limited (AEL) today said it has successfully completed the Qualified Institutional Placement(QIP) of equity shares of face value of INR 1 each of AEL (“Equity Shares”) aggregating to approximately INR 4,200 crores (USD 500 million). A total of 1,41,79,608 Equity Shares were allocated at an issue price of ₹ 2,962 per Equity Share through the QIP. The transaction was launched…
- Business
- October 24, 2024
Adani Acquires Orient Cement at INR 8,100 Crore Equity Value
Ahmedabad: Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, today announced the signing of a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs. 8,100 crore. Ambuja will acquire 46.8% shares of OCL from its current promoters and certain public shareholders. The acquisition will be fully…
- Business
- October 24, 2024
Adani Energy Solutions Reports Strong Growth in Q2 FY25
Mumbai: Adani Energy Solutions Limited (“AESL”), part of the globally diversified Adani portfolio and the largest private transmission and distribution company in India with a growing smart metering portfolio, today announced its financial and operational performance for the quarter and half year ended September 30, 2024. “We are pleased to have delivered another quarter with robust operating and financial performance. The company remains…
- Business
- October 23, 2024
Bharti Airtel’s AI System Blocks 154 Million Spam Calls, 8 Million SMS in West Bengal
Kolkata: Bharti Airtel on Wednesday claimed that its new AI-powered detection system successfully identified 154 million potential spam calls and 8 million spam SMS messages in Bengal since its launch nearly a month ago. The telecom major said it offers the solution in West Bengal for free and customers need not to request service or download an app. “As connectivity expands, customers are…
- Business
- October 23, 2024
Gold, Silver Hit New All-Time Highs on Wedding Season Demand
New Delhi: Rallying for the sixth straight session, gold and silver prices breached fresh record high levels in the national capital on Wednesday mainly driven by festive and wedding season demand, according to the All India Sarafa Association. Gold prices jumped by Rs 500 to an all-time high of Rs 81,500 per 10 grams while silver surged Rs 1,000 to Rs 1.02 lakh…
- Business
- October 23, 2024
Iconic Food Container Brand Tupperware Sold For Rs 198 Crore in Cash
New York: Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for $23.5 million (approximately Rs 198 cr) in cash and over $63 million in debt relief, cancelling its plans for an open-market auction of its assets. The food storage and kitchen products company announced the deal at a bankruptcy court hearing in Wilmington, Delaware. U.S. Bankruptcy…
- Business
- October 23, 2024
India’s GDP Likely to Grow at 7.2% in FY25: RBI Deputy Governor
New York: India’s GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said Reserve Bank of India deputy governor Michael Debabrata Patra. He was speaking at the New York Fed Central Banking Seminar organised by…
- Business
- October 22, 2024
Exporters expect better trade ties after breakthrough in India-China border talks
India reaching an agreement with China on patrolling along the LAC in eastern Ladakh is a positive development as it would further create a friendly environment for trade ties between the two countries, say exporters. They added that the move would also provide comfort to Indian businessmen doing business with China. “Present disengagement will give mental comfort to Indian businessmen doing business with…
- Business
- October 22, 2024
Walt Disney to divest 7 channels; not to bundle ad slots for cricket events
Reliance Industries and Walt Disney will divest seven TV channels and ensure that the sale of advertisement slots for cricketing events are not bundled as part of the measures approved by the Competition Commission for the merger of the two groups’ media assets that will create a Rs 70,000 crore media behemoth. Nearly two months after announcing that the mega deal has been…
- Business
- October 22, 2024
Gold Jumps Rs 350 To Record High, Silver Zooms Past Rs 1 Lakh-Mark
New Delhi: Gold price rose by Rs 350 to hit a fresh all-time high of Rs 81,000 per 10 grams while silver soared Rs 1,500 to record the Rs 1 lakh mark in the national capital on Tuesday amid a surge in demand, according to the All India Sarafa Association. Continuing its upward movement for the fifth straight day, silver bounced Rs 1,500…
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