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Adani Enterprises Launches QIP Offer Adani Enterprises, a major Indian company, has announced the launch of a Qualified Institutional Placement (QIP) offer. The offer is set at a floor price of Rs 3,117 per share. The company’s board approved this decision during a meeting held on Wednesday. Details of the QIP Offer The company has…
Skill Impact Bond by NSDC Trains Over 29,000 Job Seekers Across India The National Skill Development Corporation (NSDC) has launched the Skill Impact Bond, which has successfully trained over 29,000 first-time job seekers in 24 states and union territories across 18 sectors. The program has seen 73% of its trainees join the workforce, with a…
Major Investment in Maharashtra’s Infrastructure Introduction A group of investors from the Gulf Cooperation Council, Europe, and India have committed to investing Rs 2500 crore in various projects across Maharashtra. This announcement was made by Maharashtra’s Deputy Chief Minister, Devendra Fadnavis. Key Investors The investors include EXIM Finance from the UAE, ATAL – Atradius Dutch…
Haryana City Gas Joins MET City in Jhajjar Reliance subsidiary Model Economic Township Limited (METL) has announced that Haryana City Gas (HCG) is now part of its Greenfield Smart City, MET City, located in Jhajjar, Haryana. MET City is one of India’s largest integrated Greenfield Smart Cities, designed to attract investments and create new employment…
Celebrating 25 Years of Mundra Port Commemorative Stamp Released by Gujarat Chief Minister On October 9, in Ahmedabad, Gujarat Chief Minister Bhupendrabhai Patel unveiled a special postal stamp to celebrate 25 years of Mundra Port. This event coincided with World Post Day and highlighted the port’s significant contributions to India’s maritime and economic sectors. Transformation…
Pharma Industry Revenue Growth Driven by Domestic Formulations and US Launches The pharmaceutical industry is set to experience an 8.5% year-on-year (YoY) revenue growth, driven by domestic formulations and niche launches in the US market, according to a report by Axis Securities. Companies are expected to see a 3.1% quarter-on-quarter (QoQ) growth for the second…
Hyundai Motor India Announces Major Investment Plans Investment Overview Hyundai Motor India has announced a significant investment of Rs 32,000 crore over the next decade, from 2023 to 2032. This announcement was made by Unsoo Kim during a press conference in Mumbai. New Pune Plant The company is investing Rs 6,000 crore in a new…
Sensex and Nifty50 Fall as RBI Maintains Rates On Wednesday, the benchmark equity indices Sensex and Nifty50 ended in negative territory. The Sensex dropped 167.71 points to close at 81,467.10, while the Nifty50 fell 31.20 points, settling at 24,981.95. This decline followed the Reserve Bank of India’s (RBI) decision to keep the repo rate at…
Prime Minister Modi’s Cabinet Approves Fortified Rice Supply Until 2028 The Union Cabinet, led by Prime Minister Narendra Modi, has decided to continue the universal supply of fortified rice under various government schemes, including the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), from July 2024 to December 2028. This initiative aims to combat anaemia and…
OEMs Forecast Growth in Revenue and Margins Original Equipment Manufacturers (OEMs) are expecting significant growth in key financial metrics for the upcoming fiscal quarter, as reported by Axis Securities. Revenue, EBITDA, and PAT are projected to increase by 5.5%, 8.9%, and 10.6% year-on-year (YoY), respectively, with a 47 basis point improvement in EBITDA margins. Sector-Specific…