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The Economic Times
The Economic Times RIL to pump Rs 65,000 cr into Andhra Pradesh for 500 biogas plants, its biggest RE investment outside Gujarat
Reliance Industries Ltd is set to invest a record Rs 65,000 crore in Andhra Pradesh. The company plans to establish 500 compressed biogas plants over the next five years, generating an estimated 250,000 jobs. This landmark investment, the largest outside Gujarat for RIL, aligns with the state's clean energy initiatives and promises significant economic benefits, including increased farmer incomes.
The Economic Times High-cost GPUs not fit for next phase of AI
The maker of SN40L reconfigurable dataflow unit (RDU) chip has positioned itself as a power-efficient alternative meant for better inferencing speed and accuracy as compared to Nvidia GPUs. Backed by investors like SoftBank, Blackrock, Intel Capital, GV, Walden International, Temasek and GIC, the AI chip maker is valued at $5.1 billion and serves customers like Saudi Aramco, Accenture and Analog Devices.
The Economic Times ED may summon Amazon, Flipkart executives as companies face heat in India
The Enforcement Directorate is intensifying its investigation into Amazon and Flipkart for alleged violations of foreign investment regulations. The agency conducted raids on sellers associated with both companies. The ED suspects that Amazon and Flipkart exert excessive control over inventory through these sellers. This practice potentially violates Indian laws governing foreign e-commerce companies. Both companies assert compliance with all regulations.
The Economic Times Hindalco to spend $4-5 bn on upstream expansion
Hindalco Industries plans to invest $4-$5 billion over three years to expand its aluminum and copper production facilities. The company reported a 78% jump in net profit for the September quarter, reaching ₹3,909 crore, driven by strong performance in its India business. This includes the construction of a new aluminium smelter, alumina refinery, copper smelter, and a copper recycling plant.
The Economic Times Goldman Sachs look to join hands with Bhartias of Jubilant for HCCB stake buy, to finance upto Rs 3500 cr
The Bhartia family and Goldman Sachs are joining forces for a significant deal. They are planning to acquire a large stake in HCCB, the bottling arm of Coca-Cola in India. Goldman Sachs will provide substantial financial backing for this venture. The deal involves a planned future listing of HCCB, allowing Goldman Sachs to exit strategically. This move mirrors PepsiCo's successful strategy with Varun Beverages.
The Economic Times Bangladesh may need Indian help to manage economy
Bangladesh's reliance on India extends beyond electricity to encompass various infrastructure projects financed by Indian credit lines worth $8 billion. This dependence is evident in sectors like transportation, irrigation, and energy, with Bangladesh importing 1,160 MW of power from India. Experts suggest this reliance, while fostering growth, also exposes Bangladesh to economic vulnerabilities.
The Economic Times AI leaders in India see 1.5x revenue growth, only 26% are fully mature: BCG Report
A BCG report reveals that just 26% of Indian firms have reached AI maturity, yielding 1.5x revenue growth and 1.8x shareholder returns. These AI leaders concentrate efforts on critical functions, follow the "10-20-70 principle," and lead in GenAI adoption.
The Economic Times CEOs in infrastructure and transport sector focus on ESG and Gen AI amid growth prospects: KPMG
The survey indicates that 57% of CEOs believe stakeholder expectations on ESG are evolving faster than they can adjust their strategies, with more than half concerned that inadequate climate adaptation could negatively impact growth in the short to medium term.
The Economic Times NABARD opens hiring for CFO
NABARD is seeking candidates for the role of Chief Financial Officer, having a minimum experience of 15 years, including 10 years in banks or financial institutions, with at least five years at a senior management level. The applications shall close on 18th of November, 2024.
The Economic Times Keystone Realtors expects to surpass Rs 4,000 cr FY25 projects addition guidance
Keystone Realtors, operating as Rustomjee, is set to surpass its target of adding Rs 4,000 crore worth of projects in FY24-25. They've already added over Rs 2,300 crore in the first half, including forays into redevelopment and plotted developments. With a robust pipeline and over Rs 900 crore in dry powder, the company is well-positioned for continued growth.
The Economic Times Rupee slips to record low but avoids sharp losses on cenbank intervention
Dollar demand from oil companies and foreign banks, likely on behalf of custodial clients, kept the rupee under pressure, a salesperson at a foreign bank said.
The Economic Times Godfrey Phillips India appoints Vishal Dhariwal as CFO
Vishal Dhariwal shall assume role from March 1, 2025. This transition follows the current CFO, Sunil Agrawal, moving to an advisory role focused on strategic and business matters. Agrawal will remain part of the senior management team.
The Economic Times Investors see safety in India as Trump win casts shadow on emerging markets
Global investors are finding refuge in India's financial markets amidst uncertainty surrounding Donald Trump's economic policies. India's strong economic growth, limited exposure to U.S. and Chinese consumer markets, and a stable currency make it an attractive investment destination.
The Economic Times RBI issues framework for reclassification of FPI to FDI
The Reserve Bank of India (RBI) has introduced a new framework that allows foreign portfolio investors (FPIs) to reclassify their investments as foreign direct investment (FDI) if their holdings exceed the prescribed limit. This move provides FPIs with an alternative to divesting their shares and requires them to obtain necessary approvals and comply with reporting guidelines.
The Economic Times Trump's return will boost IT hiring, GCC expansion and FDI in India, but tariffs a concern, say CFOs
Industry leaders highlight opportunities such as increased IT hiring, expansion of Global Capability Centers (GCCs), and a rise in FDI, while acknowledging challenges like trade protectionism and visa restrictions. Corporate tax cuts are also expected to drive job creation and economic growth.
