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At the annual general meeting of Reliance Industries Ltd (RIL) on Monday, chairman Mukesh Ambani made several announcements centred on Gujarat, mainly in Hazira, Dahej and Jamnagar. Ambani announced one of the world’s largest single-train PTA plants of 3 MMTPA capacity at Dahej in Central Gujarat. He said, “We will also invest in a 1 […]
The Indian rupee came to a record low of 80-to-a-dollar mark to hit its fresh entry again after July 19 while bond yields reached 6 basis-points, because of a descent fall in global equities triggered by the strong hawkish stance taken by the Chairman Jerome Powell at the Federal Reserve’s annual Jackson Hole Symposium. The […]
Reliance Industries chairman Mukesh Ambani on Monday announced that they created 320,000 jobs across sectors–becoming one of the largest employers in India. In his keynote address at the 45th Annual General Meeting of Reliance Industries, Ambani also said that they continue to be the largest taxpayers in India. India’s largest employer One of the largest […]
While father Mukesh Ambani announced Jio’s 5G Standalone network, daughter and director, Reliance Retail, walked shareholders through a step-by-step process to shop on JioMart, completely on WhatsApp. Both were speaking at Reliance Industries Ltd’s (RIL) Annual General Meeting in Mumbai on Monday. Consumers can start shopping on JioMart via WhatsApp by simply sending “Hi” to […]
Reliance Industries Chairman Mukesh D. Ambani at RIL’s Annual General Meeting, on Monday, announced Jio Infocomm (the company’s telecommunications arm) plans to invest Rs 2 lakh crore for 5G launch in multiple key cities by Diwali. While Delhi, Mumbai, Chennai and Kolkata will benefit from an active 5G network by October, the pan-India coverage is […]
AdaniConneX Private Limited, a joint venture firm of Adani Enterprises with United States-based EdgeConneX is scheduled to build 1,000 megawatt data centres almost double the current capacity of the total industry over a period of 10 years. Meanwhile, Senior Vice President and Head of Data Centre Business, AdaniConneX, Sanjay Bhutani asserted, “The first seven data […]
Indian-origin executive Sandeep Pandey, Vice President of engineering at the microblogging and social networking service, Twitter has confirmed to part ways with the company led by his compatriot Parag Agrawal. He has worked for the social media giant for over a decade now. Pandey is supposed to join artificial intelligence (AI) and machine learning teams […]
Despite the losses to business and trade during the initial year of Corona-induced uncertainties, Gujarat witnessed a massive high post lockdown when it came to sale of high-end luxe automobiles. One wonders if the omni-pervading sense of end pushed people into splurging when life still abounds. Whatever be the case, car dealerships in Ahmedabad reported […]
AAP National Convener Arvind Kejriwal has sworn a ‘Maha Vyapam Scam’ in the Bharatiya Janata Party (BJP)-ruled Gujarat. On Tuesday, he recalled the incidents related to the leakage of question papers of state government recruitment examinations over the years. He promised a law against the paper leak with a provision of 10-year jail if people […]
Adani Power Ltd is all set to acquire DB Power Limited, which owns and operates a running 2×600 MW thermal power plant, at district Janjgir Champa in Chhattisgarh. This acquisition will be Adani Group’s power flagship enterprise in the state’s thermal power industry. DB Power was incorporated on October 12, 2006, within the jurisdiction of […]
As soon as the Sensex touched the 60,000 mark again, Gujarat companies also made big gains. In the two months from June 17 to August 17, the market cap of 16 Gujarat-based companies increased by Rs 6.57 lakh crore. The BSE Sensex closed at 60,260.13 on Wednesday against a low of 51,360.42 on June 17, […]
China is known to set up its own world order. While most countries hold China as blatantly defiant of international protocols, the dragon looks upon its enterprises as vested in its economic growth. Over the years, Xi’s iron hand has fisted China as a formidable power and one that threatens to re-align world powers. Little […]
India’s Warren Buffett, Rakesh Jhunjhunwala, passed away on Sunday at 62 from cardiac arrest. Experts used to examine the Indian millionaire’s trades up close and extensively. However, his death has drawn attention to near equities worth $4 billion. The self-made trader served on the boards of various Indian companies and invested in several startups and […]
UAE-based Lulu group plans to develop about a dozen more malls in India. The group has five operational malls in India at Kochi, Trivandrum, Thrissur, Bengaluru and Lucknow, worth 7,000 crores. Lulu Group Chairman and Managing Director M A Yusuff Ali hail from the Thrissur district of Kerala. Shibu Philips, Director-Shopping Malls of Lulu Group […]
Under the new GST rules, effective July 18 onwards, tenants will have to cough up an additional 18% GST on house rent, even in residential properties. The rule, however, is applicable only to tenants registered under GST as a business entity. The common salaried person who has taken up a residential house or flat on […]
Rakesh Jhunjhunwala, the king of Dalal Street passed away today on 14th August. He felt some uneasiness post which he went to the hospital and died there at around 6.30 A.M.. Doctors report that he also had kidney related problems and acute multiple organs failure. Aged at merely 62, Rakesh Jhunjhunwala was considered the “Indian Warren […]
Following a study by an advisory group opposing its leader Vijay Shekhar Sharma’s reappointment as CEO and casting doubt on the company’s road to profitability, shares of One97 Communications, the parent company of Paytm, dropped by close to 5% on Friday. Separately, Paytm said its loan disbursals increased four times to 2.9 million in July […]
Amazon has laid off about 1 lakh employees, which is the largest sequential drop in history. The cut off has been made mainly at its fulfilment centres and in the distribution network. The e-commerce giant is an employer of more than 15 lakh people. Brian Olsavsky, chief financial officer of Amazon, said on its quarterly […]
The investigation wing of the Income Tax department of Gujarat has raided over 25 locations of popular ceramic brand Qutone. The search and seizure operation– led by the Rajkot Income Tax department–began on Tuesday morning. Over 200 I-T officials were deployed at various locations of the company’s head offices and residencies in Ahmedabad, Morbi and […]
Adani Road Transport Limited (ARTL) is preparing to acquire stakes in Macquarie Asia Infrastructure Fund (MAIF)’s Gujarat and Andhra Pradesh road toll portfolio at a total investment of Rs3,110 crore. The wholly-owned subsidiary of Adani Enterprises Limited (AEL) is expected to get a 56.8% stake in Gujarat Road and Infrastructure Company Ltd (GRICL) and a […]
