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Ambuja Cements acquires Sanghi Industries at an Enterprise Value of Rs 5,000 Cr

03 Aug 2023 11:16 AM IST

The acquisition will be fully funded through internal accruals. Sanghi Industries Ltd (SIL) has clinker capacity of 6.6 MTPA (million tonnes per annum), cement capacity of 6.1 MTPA and limestone reserves of 1 billion tonnes. SIL’s Sanghipuram unit is India’s largest single-location cement and clinker unit by capacity, with a

GST council sets 28% tax on entry-level bets for online gaming analyse

03 Aug 2023 08:42 AM IST

The GST Council has eased the online gaming industry’s tax worries, agreeing to a 28% GST levy on the face value of entry-level bets placed on gaming platforms and casinos, despite dissent from Delhi, Goa, and Sikkim. Offshore gaming platforms must register with GST authorities and pay taxes, or risk

Indian stocks dip sharply on weak global market cues

02 Aug 2023 15:30 PM IST

Wednesday saw a sharp decline in Indian stock indices as traders followed negative cues from overnight US markets. The Sensex and Nifty were almost 1% lower than where they had closed the previous day when this report was being written. All of the Nifty sectoral indices were down, with the

Adani Total Gas sees record Q1 results, boosts infrastructure

02 Aug 2023 09:37 AM IST

Adani Total Gas Ltd, India’s prime City Gas Distribution company, unveiled a promising Q1FY24 report today, spotlighting strategic growth and commendable financial results, despite notable industry challenges. The company reported an increase in Compressed Natural Gas (CNG) stations, which has now expanded to 467, including seven new additions in the

AESL issues impressive results for Q1 FY24, revealing 19% YOY revenue rise

01 Aug 2023 09:11 AM IST

Adani Energy Solutions Limited (AESL) has issued its consolidated results for Q1 FY24, revealing a significant 19% year-on-year revenue rise. The company also recorded a significant increase in profit before tax (PBT) of Rs 343 crore, reflecting a 70% year-on-year increase. Furthermore, the quarterly net profit after tax (PAT) increased

Adani Energy Solutions Limited Consolidated Results for Q1FY24

31 Jul 2023 17:47 PM IST

AESL reports a 19% YoY increase in revenue in Q1FY24 PBT of Rs 343 Cr, up 70% YoY PAT increased by 8% during the quarter Adani Energy Solutions Ltd. (AESL), with effect from July 27, 2023, is the new name for the erstwhile Adani Transmission Ltd. This has been done

Indian stock indices start fresh week largely steady

31 Jul 2023 11:14 AM IST

Markets on Monday morning opened flat with Sensex at 66, 226. 32 up by 0.038 per cent while Nifty opened at 19,662.15 up by 0.075 per cent. Out of Nifty companies, 28 were seen in green and 21 were in red. NTPC, TATA Steel, JSW Steel, Power Grid and Adani

India’s semiconductor industry takes centre stage at SemiconIndia 2023 conference

30 Jul 2023 16:57 PM IST

The SemiconIndia 2023 Conference’s second day featured debates and discussions as India showed off its growing interest in the semiconductor sector. According to a press release from the Ministry of Electronics & IT, the three-day gathering, which was graced by the presence of Union Minister of State for Electronics &

‘SemiconIndia 2023’ kicks off; global chipmakers converge in Gujarat to tap opportunities

28 Jul 2023 14:42 PM IST

With a focus on attracting investments in India’s nascent semiconductor ecosystem, the three-day ‘SemiconIndia 2023’ conference kicked off here on Friday in the presence of Prime Minister Narendra Modi. The conference, its second edition, organised by India Semiconductor Mission in partnership with industry and industry associations, is aimed to make

Indian Stock Market witnesses decline on consecutive day

28 Jul 2023 12:02 PM IST

As the market opened on Friday, the Indian indices kept declining. At the time this article was being written, the Nifty dropped by 0.26% and the Sensex dropped by 0.36%. Twenty of the Nifty companies were green and thirty were red. Axis Bank, Bajaj Finserv, SBI Life, NTPC, and BPCL

ANIL raises trade finance facility of USD 394 million

28 Jul 2023 09:00 AM IST

Adani New Industries Limited (ANIL) recently raised a trade finance facility of USD 394 million (INR 3,231 crore) from Barclays PLC and Deutsche Bank AG for the purpose of addressing the working capital requirements of its integrated solar module manufacturing facility. ANIL, a fully owned subsidiary of Adani Enterprises Ltd.,

Indian stock indices rise after US Fed hikes policy rate by 25 bps

27 Jul 2023 10:47 AM IST

Following the US Federal Reserve’s quarter-point increase in interest rates on Wednesday, the Indian stock market saw gains of 0.29 percent in the Nifty and 0.23 percent in the Sensex on Thursday. The indices rose by 0.26 percent as the Indian stock market opened on Thursday. Positive trading occurred on