Companies in India are planning to press the pedal on capital expenditure (capex) in the coming months to cash in on rising consumption demand and the government’s Rs 10 trillion investment in infrastructure. A dipstick survey of 22 chief executive officers (CEOs) across India shows that over 86 per cent of the respondents have invested in the past one year and they plan to do more in the coming months. Several CEOs said the government’s plan to invest Rs 10 trillion in new roads, highways, and railways would result in new orders for their companies. As a result, companies are expanding capacity.
Posts tagged Rediff
Airtel Earns More Per User Than Jio, Vi (29-08-2023)
Airtel’s ARPU has grown 9.28 per cent from ₹183 in the first quarter of the previous financial year, much sharper than the 2.8 per cent in Jio’s case
Tiger Global, DST Global sell 1.8% stake in Zomato (28-08-2023)
Tiger Global and billionaire Yuri Milner’s DST Global on Monday sold a 1.8 per cent stake in online food ordering platform Zomato for Rs 1,412 crore through open market transactions. Axis Mutual Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Founders Collective Fund, Morgan Stanley Asia Singapore and Societe Generale, among others were the buyers of the shares of Zomato. Tiger Global through its affiliate Internet Fund III Pte and DST Global through its investment vehicle Apoletto Asia Ltd offloaded the shares on BSE and NSE.
Marquee investors are keen on Reliance Retail: Ambani (28-08-2023)
Several marquee global strategic and financial investors have shown strong interest in Reliance Retail, which has raised USD 1 billion from Qatar’s sovereign agency recently, RIL chairman Mukesh Ambani said on Monday. He also said that if the company was listed on stock exchanges, then based on the current valuation, it would be among the top four listed entities in the country.
Jet Air gets time till Sep 30 to pay Rs 350 cr (28-08-2023)
The National Company Law Appellate Tribunal (NCLAT) on Monday extended the time till September 30 for Jalan-Kalrock Consortium for payment of Rs 350 crore to the lenders of the bankrupt Jet Airways. A three-member NCLAT bench accepted the plea of the consortium to extend the timeline and also for adjustment of Rs 150 crore from performance bank guarantee (PBG) towards payment of Rs 350 crore.
JioAirFiber to be launched on on Sep 19 (28-08-2023)
Reliance Jio will launch its 5G home broadband service JioAirFiber on September 19, RIL chairman Mukesh Ambani said on Monday, as he also outlined aggressive plans for AI terming it the “most exciting frontier of growth” for Jio. Other major takeaways from the Reliance Industries’ 46th AGM included announcement of Jio True5G Lab, where technology partners and enterprise customers can develop, test, and co-create multiple industry-specific solutions; and ‘Jio True5G Developer Platform’, a comprehensive platform combining 5G network, edge computing, and a spectrum of applications and services. The RIL top honcho said that JioAirFiber, a fixed wireless broadband offering, uses pan-India 5G network and advanced wireless technologies to bypass the need for last-mile fibre.
Sensex climbs 110 pts to 64,997; Nifty ends at 19,306 (28-08-2023)
From the Sensex pack, Larsen and Toubro, Mahindra and Mahindra, HDFC Bank, Sun Pharma, Maruti, Kotak Mahindra Bank, IndusInd Bank, Tata Steel and State Bank of India were among the gainers. Reliance Industries, Nestle, Titan, HCL Technologies, ITC and Tata Motors were among the laggards.
Jio promises AI to ‘everyone, everywhere’: Ambani (28-08-2023)
Jio Platforms is keen to lead efforts in developing India-specific AI models and AI-powered solutions across domains, delivering the benefit of this new-age technology to Indian citizens, businesses and government, RIL Chairman Mukesh Ambani said on Monday promising “AI to everyone, everwhere”. Terming Artificial Intelligence (AI) as the most exciting frontier of growth for Jio, Ambani outlined ambitious plans on this front at the 46th AGM of Reliance Industries. Ambani pledged the company’s commitment to create up to 2,000 MW of AI-ready computing capacity, across both cloud and edge locations, while adopting sustainable practices and greener future.
Jio Fin capitalised with Rs 1.2 lakh cr: Mukesh Ambani (28-08-2023)
Jio Financial Services, the newest addition to the growing empire of Reliance Industries Ltd, has been capitalised with a net worth of Rs 1.2 lakh crore to create one of the world’s highest capitalised financial services platforms at inception, chairman Mukesh Ambani said on Monday. Speaking at company’s annual general meeting, he said JFS will consolidate its payments infrastructure with a ubiquitous offering for both consumers and merchants, further driving digital payment adoption for India.
Isha, Akash, Anant Ambani appointed to Reliance board (28-08-2023)
Billionaire Mukesh Ambani’s children — Isha, Akash and Anant — on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India’s most valuable company.