The Adani group is in advanced talks with top sovereign funds based in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects. The group, which expects to close the ongoing financial year ending March with Rs 80,000 crore of Ebitda (earnings before interest, tax, depreciation, and amortisation), has held a series of road shows in London, Dubai, and Singapore with potential investors, briefing them about their future growth plans. The group’s flagship, Adani Enterprises, may dilute part of its stake in the airport-holding firm and/or the green hydrogen business to these funds, which are keen to invest in the Indian infrastructure sector, said a source close to the development.
Posts tagged Rediff
Can Voda Idea play on the front foot in this market? (26-02-2024)
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst’s question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that “they (Vodafone Idea) are trying to navigate… “We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.”
‘It is not about EV vs hybrid, but cutting emission’ (25-02-2024)
Maruti Suzuki chairman RC Bhargava has said that reducing carbon emissions does not require making a choice between hybrid and electric cars, and that both can play key and complementary roles if the government wants to achieve its aggressive emissions target. Responding to the fact that the sales numbers of hybrid cars have been higher than electric cars in the last quarter of 2024, Bhargava pointed out: “It has never been about electric versus hybrid. “Both have a clear role to play. By 2030 we expect electric car penetration to be around 20 per cent.
Factors that will guide the markets this week (25-02-2024)
With no major domestic market-moving event scheduled this week, stock market investors would largely focus on global trends and foreign fund movement, and may face volatility amid monthly derivatives expiry, analysts said. “We expect volatility to remain high due to the scheduled expiry of February month derivatives contracts. “Besides, participants should keep a close watch on the performance of the global indices, especially the US for cues,” Ajit Mishra, SVP – technical research at Religare Broking Ltd, said.
‘The formulations business been a growth driver’ (24-02-2024)
‘However, we have seen weakness in our active pharmaceutical ingredients business.’
‘I continue to remain CEO’, Byju Raveendran to staff (24-02-2024)
A day after investors of the troubled edtech firm Byju’s voted for a leadership change, Byju Raveendran has penned a note to employees saying he continues to remain CEO and the management remains unchanged, as he dubbed Friday’s EGM as a “farce”. The note to employees assumes significance as it comes after Byju’s shareholders (prominent investors) on Friday voted for removing founder-CEO Raveendran and his family from the board over alleged “mismanagement and failures” at what was once India’s hottest tech startup, but the company dug in its heels, calling the voting done in absence of founders as invalid and ineffective.
Revamped SEZ law unlikely before the LS elections (24-02-2024)
The revamped Special Economic Zone (SEZ) law is unlikely to see the light of the day before the upcoming Lok Sabha elections, two people aware of the matter said. The commerce department had sought the Union Cabinet’s nod to bring amendments to the existing SEZ Act, 2005 late last year. The plan, thereafter, was to introduce the Bill in the winter session of Parliament. Cabinet’s approval remains pending.
Margin gains propel India Inc’s Q3 profit (24-02-2024)
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
‘Rural consumers also driving power demand’ (24-02-2024)
‘This was earlier driven by industries and the commercial sector.’
Making payments for bus, train rides will be easier (23-02-2024)
Reserve Bank of India (RBI) on Friday permitted banks and non-banking institutions to issue pre-paid instruments for making payments across various public transport systems. With the introduction of these instruments, commuters will have more options to pay for tickets besides cash mode.