Author: Neelam Kansarali

The Ontario Teachers’ Pension Plan, a significant Canadian pension fund, has entered into legally binding agreements to purchase 30% of Mahindra Group Renewables for an equity value of Rs 2,371 crore ($300 million). Mahindra Group & Ontario partnership The Mahindra Group and Ontario Teachers’ announced on Saturday the creation of a strategic partnership. As part of this partnership, the two parties will invest about Rs 4,550 crore in the expansion of the future portfolios of The Mahindra Group’s Mahindra Susten Private Ltd (MSPL), a platform for renewable energy. By May 31, 2024, Mahindra Group and Ontario Teachers’ will work together…

The Adani Group is now the second-largest cement producer in the nation after completing the acquisition of Ambuja Cements and ACC Limited. The longest continuously operating cement firm in India has entered the next chapter of its history. Ambuja Cements Limited, previously known as Gujarat Ambuja Cement Limited, is a major Indian cement manufacturer. The Group sells cement and clinker to domestic as well as international markets. ACC Limited is a subsidiary of Ambuja Cements Limited, which was formerly known as The Associated Cement Companies Limited. In 2006, the second-largest cement producer in the world, Holcim, and Ambuja Cement formed…

The gold rate struggles as the Rupees fall more against Dollar. The current currency exchange rate of Rupees against 1 dollar is 79.73. Gold prices struggled today to stay above two-year lows due to the strong US currency and the likelihood of swift US rate increases. Bond rates increased and bullion lost its lustre due to expectations of ad hoc rate increases by the US Federal Reserve. Markets have already factored in a rate increase of 75 basis points by the US central bank. Indian gold prices stayed close to 6-month lows as MCX futures plunged dramatically to a day’s…

Harsha Engineers International Limited IPO got completely subscribed on the first day of the bidding, on September 14. On day two of the auction, the bidding for the IPO of Harsha Engineers International was 6.94 times. Harsha Engineers International Limited’s (HEIL) initial public offering (IPO) began on September 14, Wednesday morning. The last date for bidding for the IPO will be after three days on Friday, September 16. The new offering of equity shares totaling Rs 455 crore is part of the Rs 755 crore IPO of Harsha Engineers. It has a price range of up to Rs 300 crore.…

Adani Group’s shares have increased by more than 27% during the past year. On September 13 last year, the shares were trading for less than Rs 745 per share. Adani Enterprises is the Adani Group’s attempt to surpass Rs 4 trillion in market valuation. The share price of Adani Enterprises has increased to a new all-time high of Rs 3571 per share on the BSE despite the downtrend of the Indian stock market. Adani Group Growth Adani Enterprises is a holding company that serves as an incubator for the new business endeavours of the Adani Group and is primarily involved…

State Bank of India (SBI) Hits Rs 5 trillion Market Capitalization, becoming part of the elite financial business sectors like ICICI bank and HDFC Bank. The shares of the bank hit the high record at Rs 574.65 per share on BSE and Rs 574.7 per share on NSE. While the current market valuations of ICICI Bank and HDFC Bank are Rs 6.33 trillion and Rs 8.38 trillion, respectively. SBI reported 945.24 billion INR in total income for the last recent quarter, a 12.53% decrease from the same period last year. The net income for the first quarter of 2022 is…

Sugar business shares, including Balrampur Chini Mills Ltd and Triveni Engineering & Industries Ltd, were down 28–33% from their 52-week highs in April. These firms have invested in major projects to expand their distillery capabilities, and a significant increase in ethanol prices would improve investor confidence. The news came as a relief when a report said that the government may hike the price of ethanol sold by sugar producers. The hike may be implemented on December 1, 2022. The increased use of ethanol has given a major boost to the growth of the sugar business. The top gainers in sugar…

Wipro Chairman, Rishad Premji, tweeted, “There is a lot of chatter about people moonlighting in the tech industry.  This is cheating – plain and simple.” Infosys and Wipro have warned their employees against moonlighting. They condemn having a second job and find it unethical, and the employee will face serious consequences. Infosys has warned its employees via email, warning them against Moonlighting. The email specified that moonlighting is a violation of an employee’s code of conduct and is not permittable. The email further stated that it would lead to disciplinary action and even termination of employment if found guilty. The…

Patanjali Ayurved Foods Limited, an FMCG company stock prices rise to Rs 1,393 from Rs 21 in the last 5 years on the Bombay Stock Exchange (BSE), giving 6250 percent of returns to its investors. The company has grown exponentially since 2019. Patanjali Ayurved, an FMCG (Fast Moving Consumer Goods) company was established in 2006 by Baba Ramdev and Acharya Balkrishna, with Balkrishna owning 94% of the company shares. The Company is soon going to launch its IPO (Initial Public Offering) for four of its Companies: Patanjali Ayurved, Patanjali Lifestyle, Patanjali Wellness and Patanjali Medicine which will be listed on…

India’s inflation rate may rise to 6.9%, breaking the 3 months downtrend. In July-2022 the inflation eased by 30 points at 6.71%, a six-month low, and by 60 points in the month of June-2022 at 7.01%. The current average CPI is at 6.8% for the second quarter, while the RBI had forecasted the average at 7.1%. The National Statistics Office released the Inflation data at 5:30 pm today for the month of August-2022 at 7 percent. The rate hovering above the tolerance of RBI rate between 2-6%. In contrast, the food inflation rate can be seen rising to 7.62 percent,…