Centre Implements Weekly Wheat Stock Reporting Rule
India, the world’s second-largest wheat consumer after China, is facing a critical situation due to consecutive heatwaves that have slashed domestic wheat production by an estimated 10% in 2023 and 8% in 2022. This decline has resulted in a significant drop in government-held wheat reserves. As of early March 2024, these reserves stood at a […]
Ecos Mobility Files IPO Draft Paper with Sebi
Ecos (India) Mobility & Hospitality Ltd., a major player in India’s chauffeur-driven mobility market, has revved its engine towards a public listing. The company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Thursday, March 29, 2024. This filing marks the official initiation of Ecos’ IPO process, […]
Sumitomo Mitsubishi Bank approved for GIFT City branch
Japan’s leading financial powerhouse, Sumitomo Mitsubishi Banking Corp (SMBC), has secured approval to establish a branch within Gujarat International Finance Tec-City (GIFT City) situated in Gandhinagar.expand_more This strategic move signifies SMBC’s commitment to propelling Japanese investment into the dynamic Indian market. According to the Indian government, Japanese FDI into India has surpassed $30 billion since […]
Tata Steel to Invest Rs 6,600 Cr in Neelachal Ispat
Tata Steel, India’s leading steel producer with a current crude steel capacity of 30.1 Million Tonnes Per Year (MTPA) in FY23 , has made a strategic move to bolster its presence in the long product steel segment, a market estimated to reach $30.2 billion by 2027. The company announced a significant equity investment of up […]
Adani Family Invests Rs 6,661 Crore in Ambuja Cements
The Adani Group’s aggressive expansion strategy continues unabated. In a move that further cements their dominance in the Indian cement industry, valued at approximately Rs 1.08 lakh crore in 2023, the Adani family has infused a significant sum of Rs 6,661 crore into Ambuja Cements Ltd. This fresh capital injection translates to a 3.6% ownership […]
Wipro-GE Healthcare Invests Rs 8,000 Cr: Make in India
Wipro-GE Healthcare, a prominent player in medical technology and digital solutions, announced a game-changing investment of Rs 8,000 crore ($1 billion) in India over the next five years. This substantial infusion of capital aims to propel the company’s “Make in India for the World” initiative forward, with a multi-pronged approach: Aligning with National Goals and […]
Reliance Invests in Adani’s Power Project: Ambani-Adani Alliance
The Indian business landscape witnessed a historic shift on March 28, 2024, as Reliance Industries (RIL), led by Mukesh Ambani, acquired a 26% stake in a specific 500 MW unit of a 1,000 MW power project owned by Gautam Adani’s Adani Power Ltd. This Madhya Pradesh project, under Mahan Energen Ltd, marks the first-ever collaboration […]
NTPC Secures JBIC Loan for $200M Renewable Projects
State-owned power giant NTPC has ignited its renewable energy ambitions with a strategic $200 million loan agreement from the Japan Bank for International Cooperation (JBIC). This financing marks a substantial leap forward in NTPC’s diversification plans, transitioning from its traditional reliance on coal-fired power generation. The loan is expected to propel NTPC’s renewable energy project […]
RBI Advises Banks on Alternative Investment Fund Investments
The Reserve Bank of India (RBI) took a cautious step towards harmonizing regulations for bank investments in Alternative Investment Funds (AIFs) with a recent advisory issued on March 27, 2024. This revision follows a December 2023 circular that caused a ripple effect within the banking sector, with estimates suggesting a potential freeze on ₹2 lakh […]
Sonata Finance Acquired by Kotak Bank for Rs 537 Cr
Continuing its aggressive growth strategy, Kotak Mahindra Bank (Kotak Bank) announced a significant acquisition on Thursday, March 28, 2024. The bank signed a definitive agreement to acquire Sonata Finance Pvt Ltd, a prominent NBFC-MFI (Non-Banking Financial Company – Microfinance Institution), for Rs 537 crore. This strategic move strengthens Kotak Bank’s position in the rapidly expanding […]