India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
The report highlighted that the group has taken substantial measures to strengthen its financial position and operational efficiency over the last two years. One of the notable developments is the dramatic reduction in share pledges across the group's companies over the last 1.5 years. For instance, share pledges in Adani Power have dropped from 25 per cent to 1 per cent, and for Adani Ports, from 17 per cent to nil. It said "the evolution of share pledges for the group there has been a dramatic drop across companies- this is one area where group has taken significant action over the last 1.5 year" The report also noted an increase in promoter holdings across the group, except for Adani Energy Solutions, where a Qualified Institutional Placement (QIP) impacted the shareholding. Promoter holding in Ambuja Cements, for example, has risen from 63 per cent to 68 per cent, driven by the issuance of warrants. The group's overall debt situation has also evolved positively. While total debt decreased from Rs 2,410 billion in March 2023 to Rs 2,385 billion in September 2023, it has since risen to Rs 2,793 billion, primarily due to increased lease liabilities at Adani Enterprises. However, the group's net debt-to-EBITDA ratio has improved significantly, aided by operational assets like Adani Green and higher profitability in ventures such as solar PV at Adani Enterprises. It said "Further the group is sitting on a cash of Rs 390 Bn as of Sep'24 as against a cash reserve of Rs 223 Bn in Mar'23". The report highlights the diversification in Adani Group's funding sources over the years. The group has reduced its reliance on domestic banks and shifted toward bonds and international banks. In FY16, 86 per cent of funds came from banks, which dropped to 15 per cent in FY24, while the share of bonds rose from 14 to 31 per cent during the same period. Since March 2023, the share of dollar bonds has decreased, with Non-Banking Financial Companies (NBFCs) gaining prominence due to favourable Indian market rates. The report said "Adani group has diversified their funding sources over the years- reducing reliance on domestic banks (both PSUs and private) and raising money from bonds and international banks. The share of banks has reduced from 86 per cent in FY16 to just 15 per cent in FY24" These measures highlight the Adani Group's efforts to strengthen its financial stability and optimize its funding strategy amidst evolving market dynamics. (ANI)
New Delhi [India], December 2: The IVCA GreenReturns Summit 2024 commenced today in New Delhi, convening over 400 visionaries, investors, policymakers, and entrepreneurs to chart a transformative path for India's green economy. The Summit is dedicated to aligning India's climate goals with its trillion-dollar economic aspirations for a 'Viksit Bharat,' spotlighting high-impact investment opportunities, addressing funding gaps, and driving actionable solutions for net-zero and climate adaptation. Also Read | Mamata Banerjee Says West Bengal Yet To Get INR 14,000 Crore From Centre for Supply of ...Read More >
NewsVoir New Delhi [India], December 4: OPPO India's latest flagship smartphone series, the OPPO Find X8 Pro and OPPO Find X8, is on sale starting - 3rd December 2024 across the OPPO e-store, Flipkart, and mainline retail outlets. The Find X8 series is a blend of cutting-edge performance, premium design, and innovative camera technology, complemented by exciting launch offers. Pricing & Launch Offers * OPPO Find X8 Pro (16GB + 512GB) is priced at INR 99,999 and can be got for as low as INR 82,000* with offers. * OPPO Find X8 (12GB + 256GB), priced at INR 69,999, is available for as low as ...Read More >
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it. State Bank of India will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said. A regulat ...Read More >
Ahmedabad (Gujarat) [India], December 2 (ANI): Ambuja Cements has taken a step toward achieving its Net Zero goals. The company has partnered with Finland-based technology leader Coolbrook to implement its proprietary RotoDynamic Heater (RDH) technology. According to the exchange filing, this cutting-edge, zero-carbon heating solution, powered by renewable electricity, will drastically reduce the company's dependence on fossil fuels and lower its carbon emissions, aligning with its sustainability vision. Ambuja Cements will significantly reduce its fossil fuel dependence by harnessing renewa ...Read More >
OCCRP had published news articles against Adani; BJP MP Sambit Patra calls Rahul 'traitor of highest order' After a hiatus of two days, the Winter Session of Parliament plunged into chaos again Thursday, this time due to the ruling BJP targeting Leader of the Opposition Rahul Gandhi and the Congress, accusing them of being part of a plan to "derail" India's economy and "disrupt" its democracy. Senior BJP MP Nishikant Dubey raised the matter in the Lok Sabha, alleging that a "dangerous triangle" ...Read More >
Mumbai Indians (MI) made strategic moves in the IPL 2025 mega-auction, securing New Zealand pacer Trent Boult for ₹12.50 crore. MI owner Akash Ambani praised Boult’s invaluable skill in swinging the new ball, acknowledging the team’s struggles when he wasn’t playing for them in recent years. The franchise also acquired England’s Reece Topley for ₹75 lakh and New Zealand spinner Mitchell Santner for ₹2 crore. MI further strengthened their spin department by signing young Afghan talent Allah Ghazanfar for ₹4.80 crore, who has impressed with his performances in international cricket. ...Read More >
In this edition of Frontline Conversations, former Maharashtra Women and Child Development Minister Aditi Tatkare discusses how the Ladki Bahin scheme, which provided direct cash transfers to 2.35 crore women, transformed both the economic landscape and political dynamics of the State. The programme, which distributed Rs.7,500 across five instalments to women earning less than Rs. 2.5 lakh annually, not only empowered women with financial independence but also proved to be a decisive factor in Mahayuti's electoral victory, marking a shift in Maharashtra's traditionally male-dominated political ...Read More >
Meet Venkata Datta, Hyderabad techie, who is set to marry badminton star PV Sindhu The KYC Bubble: How digital ID's could trigger a global collapse 5 reasons why Allu Arjun will become biggest pan-India star with Pushpa 2: The Rule This is world's weirdest hotel where guests stay to get insulted, pay Rs 20000 room rent, it is located in... Vikrant Massey breaks silence on his 'retirement' announcement, says his post was misread: 'I'm not...' After breakup with Arjun Kapoor, Malaika Arora does 'Nain Matakka' with another actor, netizens react Naga Chaitanya-Sobhita Dhulipala wedding: Allu ...Read More >
Mumbai, December 4: The domestic benchmark equity indices closed in green on Wednesday as buying was seen in PSU bank and realty sectors. The investors are keenly watching the Reserve Bank of India's (RBI) monetary policy committee (MPC) meeting which will announce its decision around the repo rate on Friday. Banking stocks rose amid volatile sessions in the market due to the possibility of Cash Reserve Ratio (CRR) cut by the central bank. Sensex settled at 80,956.3, higher by 110.58 points, or 0.14 per cent, while the Nifty ended at 24,467.45, up by 10.30 points, or 0.04 per cent. Stock Mark ...Read More >
New Delhi [India], December 4 (ANI): The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an on-going investigation of a transnational cyber enabled fraud case involving large-scale financial scams. CBI registered the said case under Sections 403 and 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, based on a written complaint received from the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, Government of India. The complaint alleged that unknown ...Read More >
Former Delhi Chief Minister Arvind Kejriwal announced several pre-election promises targeting auto drivers. These include a ₹10 lakh insurance policy, ₹1 lakh for daughters' marriages, a biannual ₹2,500 uniform allowance, free coaching for their children, and the relaunch of the 'PoochO' ride-booking app. Kejriwal and the AAP are campaigning to secure a third term in the upcoming February elections.Ahead of crucial Delhi assembly polls, Arvind Kejriwal promised several measures for auto dri ...Read More >
Lalu Yadav was reacting to Nitish Kumar's plans to launch the Mahila Samwad Yatra, an initiative aimed at directly engaging with women in Bihar. RJD chief Lalu Prasad Yadav on Tuesday stoked controversy after passing a sexist remark at Nitish Kumar's upcoming women's rally, saying that the Bihar Chief Minister was attending it to "ogle at women." Yadav was reacting to Kumar's plans to launch the Mahila Samwad Yatra, an initiative aimed at directly engaging with women in Bihar. "Nain sekne ja ra ...Read More >
New Delhi [India], November 18 (ANI): Bharatiya Janata Party leader and in-charge of the party's National IT Department, Amit Malviya, on Monday, criticised the Congress party's 'hypocrisy' over their stance on the Adani Group, pointing to past investments and agreements made with the corporate conglomerate by Congress-ruled states. Taking to social media platform X, Malviya referenced Telangana Chief Minister Revanth Reddy's recent "public admission of accepting money" from the Adani Group on November 10, 2024, pointing out that this acknowledgment contradicted Congress leader Rahul Gandhi's ...Read More >
Bigg Boss 18: Shilpa Shirodkar is termed 'biggest backstabber' after Vivian Dsena... Deepak Kalal fights with passenger in flight? Know the truth behind viral video Delhi court fixes Nov 28 for hearing former CM Arvind Kejriwal's plea over sanction copy in... Where will the Champions Trophy 2025 be played? ICC to take final call on THIS date Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan recalls telling Amitabh Bachchan he made 'big mistake' by... Deepinder Goyal's Zomato opens Rs 8500 crore QIP share sale, sets floor price at Rs... Delhi Capitals co-owner pens emotional fare ...Read More >
Chandigarh [India], December 3 (ANI): Punjab Legislative Assembly Leader of Opposition and Congress leader Partap Singh Bajwa on Tuesday, slammed the BJP-led central government for neglecting the interests of farmers in Punjab and Haryana. Bajwa's scathing attack comes amidst growing discontent among farmers in the region, who feel their concerns have been ignored by the ruling party. "Ever since the BJP government has come to power, they have not taken a single decision that is in the interest of the farmers of India, especially the farmers of Punjab and Haryana. It is their fundamental rig ...Read More >
New Delhi, Dec 4 (PTI) The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minist ...Read More >
New Delhi [India], December 6 (ANI): The Lok Sabha as part of the Winter Session of the Parliament has been adjourned until 11:00 am on December 9, as announced by the Speaker on Friday. The proceedings of the lower house were adjourned until 12 pm earlier in the day as disruptions continued for the ninth consecutive day of the winter session, with opposition members raising slogans and creating ruckus over various contentious issues. Also Read | Hashimpura Massacre Case: Supreme Court Grants Bail to 8 Convicts in Infamous 1987 Massacre Case. Lok Sabha Speaker Om Birla made a fervent appeal ...Read More >
Smart India Hackathon 2024: The Smart India Hackathon 2024, designed to unite the nation's brightest young talent in solving real-world problems presented by major government ministries, is scheduled to take place from December 11 to 15. This is the seventh edition of the Smart India Hackathon, and Prime Minister Narendra Modi will preside over this on Wednesday. More than 54,000 entries were received, and out of that, 1,300 teams (comprising over 10,800 participants) were selected to compete in figuring out the answers to 254 problem statements. Notably, most of the entries came from Tier 2 a ...Read More >
As a part of the new agreement between Mazagon Dock and BEML, Mazagon Docks will make facilities available to BEML's research team in exchange for their technical support to design and manufacture strategic equipment, reported PTI. The government-owned BEML Ltd. (formerly known as Bharat Earth Movers Ltd) announced on Wednesday, November 27, that it has signed an agreement with Mazagon Dock Shipbuilders to develop technologies for the marine industry, news agency PTI reported. According to the company statement cited by the agency, the company aims to leverage the opportunity to expand its e ...Read More >
New Delhi, Dec 3 (PTI) Shares of seven Adani Group firms ended in the green on Tuesday, with Adani Ports surging 6 per cent, emerging as the biggest gainer among the Sensex and Nifty firms. The stock of Adani Ports surged 6.02 per cent, Ambuja Cements soared 5.15 per cent, ACC (2.56 per cent), Adani Enterprises (2.33 per cent), Sanghi Industries (2.09 per cent), Adani Wilmar (1.19 per cent) and NDTV (0.45 per cent) on the BSE. Also Read | What Is 'Tankhah', Religious Punishment Given to Sukhbir Singh Badal by Akal Takht in 2015 Sacrilege Case?. However, shares of Adani Green Energy went low ...Read More >
Champhai (Mizoram) [India], December 3 (ANI): Assam Rifles, in collaboration with the Excise and Narcotics Department, recovered 22 grams of Heroin No. 4 worth Rs 15.40 lakh and apprehended a woman in the Zote area of Champhai district on Monday. The operation, based on specific intelligence, led to the discovery of the contraband hidden inside the woman's clothing bag. The suspect, identified as 40-year-old Tlangmawii, along with the seized consignment, has been handed over to the Excise and Narcotics Department, Champhai, for further legal proceedings. Also Read | Rahul Gandhi To Visit Sam ...Read More >
Champhai (Mizoram) [India], December 3 (ANI): Assam Rifles, in collaboration with the Excise and Narcotics Department, recovered 22 grams of Heroin No. 4 worth Rs 15.40 lakh and apprehended a woman in the Zote area of Champhai district on Monday. The operation, based on specific intelligence, led to the discovery of the contraband hidden inside the woman's clothing bag. The suspect, identified as 40-year-old Tlangmawii, along with the seized consignment, has been handed over to the Excise and Narcotics Department, Champhai, for further legal proceedings. In a separate operation aimed at coun ...Read More >
New Delhi [India], December 4 (ANI): The Enforcement Directorate (ED) seized cryptocurrency worth Rs 1.36 crore (USDT) from private wallets, along with unexplained cash amounting to Rs 47 lakh, during an investigation into a major money laundering case. The case pertains to cyber fraud involving illegal proceeds of approximately Rs 640 crore, generated through betting, gambling, part-time job scams, and phishing operations. The ED also recovered various incriminating documents linked to the fraud during its crackdown. Also Read | Banking Laws (Amendment) Bill, 2024 Set To Boost Consumer Expe ...Read More >
The Delhi BJP also shared a rap song "Delhi ka millionaire" alleging corruption against the party's top leadership. In a recently-released video, the Delhi BJP has given a tour of the luxurious bungalow of AAP leader Arvind Kejriwal, where he lived while serving as the Chief Minister of the state. The party also shared a rap song "Delhi ka millionaire" alleging corruption against the party's top leadership. Delhi BJP chief Virendra Sachdeva, who shared the video on X, called the Civil Lines bu ...Read More >
Mumbai, November 29: The Indian stock market opened in green on Friday as buying was seen in the Media and Pharma sector in early trade. At around 09.44 a.m., the Sensex was trading at 79,369.57 after gaining 325.83 points or 0.41 per cent, while the Nifty was trading at 24,019 after rising 104.85 points or 0.44 per cent. The market trend remained positive. On the National Stock Exchange (NSE), 1345 stocks were trading in the green, while 876 stocks were in the red. Nifty Bank was up 224.45 points or 0.43 per cent at 52,131.30. Nifty Midcap 100 index was trading at 56,397.95 after gaining 97. ...Read More >
In a miraculous turn of events, a seven-year-old boy who was kidnapped from Uttar Pradesh's Ghaziabad district more than 30 years ago has reunited with his family. IMAGE: Raju was kidnapped when he was seven-year-old from Uttar Pradesh's Ghaziabad district. Photograph: ANI Now 38, Raju shared his ordeal and said that after being abducted in September 1993, he was handed over to a truck driver who took him to Jaisalmer in Rajasthan. "The kidnappers kept me in a room located in the middle of a barren area, where I was forced to take care of sheep and goats. Each night, I was chained and locke ...Read More >
NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to ...Read More >
Benchmark indices Sensex and Nifty rallied for the third straight session on Tuesday (December 3, 2024) amid buying in blue-chip stocks like HDFC Bank, Reliance Industries and firm trends in global markets. The BSE benchmark Sensex jumped 597.67 points or 0.74% to settle at 80,845.75. During the day, it surged 701.02 points or 0.87% to 80,949.10. The NSE Nifty went up by 181.10 points or 0.75% to 24,457.15. From the 30-share Sensex pack, Adani Ports surged nearly 6%. NTPC, Axis Bank, State Bank of India, Larsen & Toubro, UltraTech Cement, Tata Motors, HDFC Bank and Reliance Industries were ...Read More >
New Delhi [India], December 3 (ANI): Oilfields (Regulation and Development) Amendment Bill, 2024 to expand the definition of mineral oils and include petroleum and natural gas passed in the Rajya Sabha on Tuesday. The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural gas in it. Also Read | Pune: Doctors Perform Rare Laser Surgery on Woman Pregnant With Monoam ...Read More >
The BJP has accused Rahul Gandhi of collaborating with "anti-India international forces," citing a Mediapart report on OCCRP's funding and Gandhi's meetings with alleged Modi government critics. The party highlighted the timing of reports critical of India coinciding with parliamentary sessions, including those on farmers, Pegasus, Hindenburg, and the BBC documentary.BJP on Thursday accused Lok Sabha's Leader of Opposition Rahul Gandhi of colluding with 'anti-India international forces'. The ruli ...Read More >