TCS Trains 350K Staff in Generative AI Skills
Tata Consultancy Services (TCS) has made a game-changing move, announcing it has trained a staggering over 3.5 lakh employees, exceeding half its workforce, in generative AI skills. This ambitious initiative solidifies TCS’s position as a global leader in AI preparedness and creates the world’s largest AI-ready IT workforce. The Generative AI Advantage: A Technological Powerhouse […]
Karnataka Bank Sanctions ₹600 Cr Equity Share Issue
Karnataka Bank has taken a significant step towards bolstering its financial resources by successfully allotting ₹600 crore worth of equity shares to qualified institutional buyers (QIBs) through a Qualified Institutional Placement (QIP) offering. The announcement, made on March 28, 2024, marks the culmination of the QIP which ran for a week, from March 21 to […]
Suzlon Energy Hit with ₹260 Cr I-T Penalty
In a significant development that threatens to derail its ongoing financial turnaround efforts, Suzlon Energy, a prominent Indian wind turbine manufacturer, has been slapped with a hefty penalty of ₹260 crore by the Income Tax Department. The penalty pertains to alleged discrepancies in income disclosure during the financial year 2019-20. Penalty Details and Potential Discrepancies […]
Bank of India Faces ₹564.44 Cr I-T Penalty, Appeals Planned
The Bank of India (BOI) finds itself in hot water after the Income Tax Department levied a hefty penalty of ₹564.44 crore against the public sector lender in March 2024. Let’s delve deeper into the confirmed reasons behind the penalty, BOI’s planned course of action, and the potential wider implications for the banking sector. Penalty […]
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 […]