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Adani Group reveals USD 14 billion investment plan for FY25, emphasizing green energy and infrastructure

Notably, the conglomerate's ambitious plan includes the development of the world's largest renewable park in Gujarat, covering an expansive area of over 530 square kilometers. In addition, with a portfolio boasting 8 airports, including the upcoming Navi Mumbai airport, and 14 domestic ports, Adani is positioned to solidify its position as a key player in these critical sectors vital for India's economic growth and connectivity.

News Arena Network - Mumbai - UPDATED: March 19, 2024, 01:02 AM - 2 mins read

Adani Group reveals USD 14 billion investment plan for FY25, emphasizing green energy and infrastructure

The Adani Group, a prominent figure in India's infrastructure sector, has set forth an ambitious investment blueprint for the fiscal year 2025. Sources familiar with the matter reveal that the conglomerate plans to invest a staggering USD 14 billion, marking a significant 40% increase from the previous fiscal year's investment.

A substantial portion of this mammoth investment, more than 70%, will be channeled into green energy initiative.

The remainder of the funds will be directed towards bolstering Adani's rapidly expanding Airports and Ports businesses, further enhancing the nation's transportation infrastructure. This strategic allocation of resources is set to fuel exponential profit growth, leveraging the burgeoning demand in key sectors vital for India's economic development.

Adani's portfolio reported a remarkable 63.6% year-on-year growth in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) during the December quarter. This stellar performance propelled its twelve-month EBITDA to an unprecedented high of USD 9.5 billion (INR 78,823 crore) in CY23, underscoring the robustness of its business strategy and financial management.

The conglomerate's investment vision extends beyond the immediate fiscal year, with plans to commit a staggering USD 100 billion over the next 7-10 years. This monumental investment commitment will play a transformative role in reshaping India's energy and transportation landscape, with flagship projects such as the Navi Mumbai Airport, Ganga Expressway, and the world's largest renewable park at Khavda, Gujarat.

The conglomerate's robust financial performance and prudent financial management have laid a strong foundation for continued growth and investment in green initiatives, while setting the stage for it's unrivaled 'Green Investment'

Banking stocks weigh on Nifty, Sensex loses 53 pts

July 5, 2024, 03:55 AM - 2 mins read

The average cost of a vegetarian thali saw a significant increase of 10% in June, driven primarily by the rising prices of onions, potatoes, and tomatoes, according to Crisil Market Intelligence and Analysis' monthly "Roti Rice Rate" report released on Friday.

June sees 10% hike in veg thali prices

July 5, 2024, 02:55 AM - 2 mins read

Swiggy, the prominent online food and grocery delivery platform, has introduced its own UPI (Unified Payments Interface) service, aiming to reduce reliance on external payment apps, minimize payment failures, and streamline the checkout experience.

Swiggy introduces In-app UPI to cut payment failures

July 5, 2024, 12:54 AM - 2 mins read

The ninth Governing Council meeting of Niti Aayog, chaired by Prime Minister Narendra Modi and comprising state chief ministers, is expected to convene in August to deliberate on the ‘Viksit Bharat @2047’ vision document.

PM Modi to chair Niti Aayog meet on India 2047 vision

July 4, 2024, 11:22 PM - 2 mins read

In a positive session for the Indian stock market, both the Sensex and Nifty indices ended the day in green territory.

LIC acquires IDFC first stake, Sensex hits 80,000

July 4, 2024, 04:06 AM - 2 mins read

As the Monsoon Session of the Parliament gears up to begin on July 22, the nation eagerly awaits the presentation of the Union Budget 2024 by Finance Minister Nirmala Sitharaman. This event is more than just a routine fiscal exercise, it marks a historic occasion as Sitharaman becomes the first finance minister to present seven consecutive Union Budgets.

A budget for all: What to expect from Sitharaman's address

July 4, 2024, 03:03 AM - 3 mins read

Equity benchmark indices Sensex and Nifty reached their lifetime peaks in early trade on Thursday, driven by firm global market trends, significant buying in blue-chip stocks, and robust Foreign Institutional Investors (FII) inflows.

Sensex, Nifty hit lifetime peaks on FII inflows

July 3, 2024, 11:29 PM - 2 mins read

Sri Lanka has successfully reached a debt restructuring agreement with its international sovereign bondholders, marking a significant step in the nation's efforts to restore debt sustainability.

Sri Lanka finalises debt restructuring agreement

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Union Minister for IT and Electronics, Ashwini Vaishnaw, announced on Wednesday that discussions regarding regulations for Artificial Intelligence (AI) are currently underway, stressing the necessity of achieving a political consensus.

Vaishnaw stresses need for political consensus on AI

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The benchmark BSE Sensex breached the 80,000 level for the first time during intraday trading on Wednesday.

Nifty reaches fresh peak of 24,307, Sensex surpasses 80,000

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Madhya Pradesh Finance Minister Jagdish Devda presented the state budget for the year 2024-25 in the legislative assembly on Wednesday amid a ruckus created by the opposition Congress over an alleged nursing college scam.

MP budget presented amid nursing college scam uproar

July 2, 2024, 11:49 PM - 2 mins read

The Indian stock markets soared to new heights on July 3, with benchmark indices Nifty and Sensex reaching fresh record highs, driven by positive global cues.

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Benchmark stock market indices ended Friday's trading session on a weak note as banking and financial stocks declined.

Banking stocks weigh on Nifty, Sensex loses 53 pts

July 5, 2024, 03:55 AM - 2 mins read

Despite the dip in major indices, most broader market indices ended in positive territory as volatility declined. Among sectoral indices, Nifty Financial Services and Nifty Bank were the top losers, primarily due to a significant 4.5% drop in HDFC Bank shares.

June sees 10% hike in veg thali prices

July 5, 2024, 02:55 AM - 2 mins read

The report highlighted that the cost of a vegetarian thali, which includes roti, vegetables (onions, tomatoes, and potatoes), rice, dal, curd, and salad, rose to Rs 29.4 per plate in June. This marks an increase from Rs 26.7 in the same period last year and from Rs 27.8 in May 2024.

Swiggy introduces In-app UPI to cut payment failures

July 5, 2024, 12:54 AM - 2 mins read

A source revealed that Swiggy has been testing the UPI service with its employees for the past month and plans to gradually roll out the service to all users in phases over the coming months. The UPI Plugin, launched by the National Payments Corporation of India (NPCI) in 2022, allows merchants to offer UPI payment services within their apps without needing a TPAP license.

PM Modi to chair Niti Aayog meet on India 2047 vision

July 4, 2024, 11:21 PM - 2 mins read

Sources reveal that ahead of the Council meeting, Finance Minister Nirmala Sitharaman will provide an initial overview of the ‘Viksit Bharat’ vision and action plan in the upcoming Budget later this month. The ambitious goal includes positioning India as a $30 trillion economy by 2047, driven by significant policy reforms and governance changes by 2030.

LIC acquires IDFC first stake, Sensex hits 80,000

July 4, 2024, 04:06 AM - 2 mins read

Top gainers of the day included Tata Motors, HCL Tech, ICICI Bank, Sun Pharma and TCS. On the flip side, the day's laggards were HDFC Bank, Bajaj Finance, Adani Entertainment, Wipro, and Tech Mahindra. Sectoral indices showed a mixed performance. Financial services, FMCG, media, and metal ended the day in red.

A budget for all: What to expect from Sitharaman's address

July 4, 2024, 03:02 AM - 3 mins read

Industry leaders like Jasvinder Bedi and Ramesh Alluri Reddy have rightly pointed out the need for a focus on skill development and formal job creation. The staffing industry plays a vital role in this regard and deserves official recognition and support. The upcoming budget must prioritize initiatives that bridge the skill gap and create a workforce ready for the demands of the modern economy.

Sensex, Nifty hit lifetime peaks on FII inflows

July 3, 2024, 11:29 PM - 2 mins read

Among the top performers in the Sensex pack were Tata Motors, ICICI Bank, Mahindra & Mahindra, Infosys, HCL Technologies, and Tata Consultancy Services. Conversely, HDFC Bank, IndusInd Bank, Adani Ports and Special Economic Zone, and Bharti Airtel were among the laggards.

Sri Lanka finalises debt restructuring agreement

July 3, 2024, 11:20 PM - 2 mins read

The announcement follows the finalisation of debt restructuring agreements with bilateral lenders, including India and China, in Paris on June 26. President Ranil Wickremesinghe described this earlier agreement as a “significant milestone” in bolstering international trust in Sri Lanka's debt-ridden economy.

Vaishnaw stresses need for political consensus on AI

July 3, 2024, 08:06 AM - 2 mins read

Speaking at the 'Global IndiaAI Summit', Minister Vaishnaw highlighted the importance of societal understanding of both the potential and threats posed by AI. "All sections of society must fully understand the threats and potential of Artificial Intelligence only then we should approach legal action," he told reporters.

Nifty reaches fresh peak of 24,307, Sensex surpasses 80,000

July 3, 2024, 03:39 AM - 2 mins read

Conversely, Tata Consultancy Services, Titan, Reliance Industries, Tata Motors, and Larsen & Toubro were the major laggards. Asian markets showed mixed trends, with Seoul, Tokyo, and Hong Kong ending in positive territory, while Shanghai closed lower. European markets traded with gains, and US markets closed higher on Tuesday.

MP budget presented amid nursing college scam uproar

July 2, 2024, 11:49 PM - 2 mins read

The budget presentation, intended to outline the government's fiscal plans and priorities for the upcoming year, was overshadowed by the persistent demands for accountability and resignation over the nursing college scam.

Sensex surges past 80,000 in historic first

July 2, 2024, 11:38 PM - 2 mins read

HDFC Bank, the country's largest private bank, was a key highlight. The bank's increased weightage in the MSCI index is expected to rise as foreign institutional investors (FIIs) have greater room to buy stock. This potential for increased investment led to a rally in the Bank Nifty, which also hit a record high of 53,201.50.