Billionaire Gautam Adani-led group’s power transmission unit has raised $1 billion through a share sale, the first public equity raise by the conglomerate since a damning Hindenburg report, which wiped away billions in shareholder value. Adani Energy Solutions Ltd raised the funds through a qualified institutional placement (QIP) issue, sources with direct knowledge of the matter said. The QIP, which opened on Tuesday, was oversubscribed three times with demand of about Rs 26,000 crore – making it the largest transaction in India’s energy space.
Posts tagged Rediff
Average cost of data breaches in India hits $2.18 mn (30-07-2024)
The average cost of data breaches in India reached $2.18 million in 2023, marking a 28 per cent increase since 2020, according to the Reserve Bank of India’s (RBI) Currency and Finance report for 2023-24. The report said that India’s average data breach cost was still below the global average. The most common attacks in India are phishing which was at 22 per cent and stolen or compromised credentials was 16 per cent. The automotive industry is highly vulnerable to cyber attacks, whereas the banking and financial services sector, benefiting from stringent regulations, enjoys comparatively stronger protection.
FM to review RRBs’ performance after Budget session (30-07-2024)
Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
No state has been denied money in Budget: Sitharaman (30-07-2024)
Finance Minister Nirmala Sitharaman on Tuesday termed misleading claims by opposition leaders that if any state is not named in the Budget speech, then it does not get any budgetary allocation. Replying to a Budget discussion in the Lok Sabha, Sitharaman asserted that no state was being denied money. She recalled that in the past Budgets by the UPA government also did not mention names of all states in their Budget speech.
‘Wealth Is Concentrated In A Few Hands’ (30-07-2024)
‘The top 10 per cent of the population should adopt and handhold the bottom 20 per cent of the population as a social responsibility.’
Stock markets rise on gains in Tata Motors, HDFC Bank (30-07-2024)
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers. Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
‘Budget Hasn’t Addressed Real Issues’ (30-07-2024)
‘Generating employment requires a shift in policy.’ ‘If not, the country will face economic, social and political challenges in the coming years.’
Vistara announces VRS for permanent ground staff (30-07-2024)
Indian carrier Vistara on Monday announced voluntary retirement scheme (VRS) and voluntary separation scheme (VSS) for its permanent ground staff ahead of its merger with Air India, which had announced similar plans for its non-flying permanent staff two weeks ago.
Q1 result review: Outlook positive for IT companies (30-07-2024)
The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, “there is still some time for the industry to be firing on all cylinders.” Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
30% of GenAI Projects May Fail By 2025 (30-07-2024)
‘Historically, many chief financial officers have not been comfortable with investing today for indirect value in the future.’ ‘This reluctance can skew investment allocation to tactical versus strategic outcomes.’