With the potential to create 26,000 jobs, Torrent Power Limited said on Monday that it had committed an investment of Rs 64,000 crore during the fourth iteration of “RE-Invest 2024” in Gandhinagar. The company announced in a regulatory filing that it has sent two “Shapath Patra” to the Indian government’s Union Ministry of New and…
Because of the Indian market’s resiliency and expectations of a possible interest rate decrease by the US Federal Reserve, Foreign Portfolio Investors (FPIs) invested Rs 27,856 crore in Indian shares in the first half of September. Following a withdrawal of Rs 34,252 crore in April and May, FPIs have become aggressive buyers of Indian stocks…
Due to a rise in grain prices and a little lower base than the one for July, India’s retail inflation, as measured by the Consumer Price Index (CPI), crept up to 3.65% in August from 3.6% in July. Retail inflation decreased to 6.83% in August 2023 from 7.44% in July 2023. Due to a large…
A weak dollar index, falling crude oil prices, and robust foreign portfolio investment (FPI) inflows have not deterred the Indian rupee from trading close to its all-time low. As of September 10, it closed at 83.98, having moved in a narrow range between 83.92 and 83.99 thus far this month. The rupee has remained rangebound…
According to internal documents, Swiggy, the fast-food delivery and e-commerce company, is preparing to raise about $600 million through a new issuance as part of its first public offering (IPO). From the $450 million that was originally stated, this represents a huge increase. The entire possible financing might be close to $1.4 billion when added…
Tuesday saw a nearly 6% increase in Tata Power Company’s stock, which by early afternoon on the NSE had reached Rs 445. The increase comes as it was revealed that Tata Power subsidiary TP Solar has started producing solar cells for sale at its recently opened facility in Tirunelveli, Tamil Nadu. The 4.3 GW plant,…
Due to strong domestic valuations and volatility in the global market, foreign institutional investors (FIIs) engaged in a wave of significant selling during the first two weeks of August. However, later in the month, they turned their attention to purchasing, allocating Rs 25,000 crore across eight important sectors. With purchases of Rs 5,297 crore, consumer…
Suzlon Group stated on Monday that it has secured the largest wind energy order in India, worth 1166 MW, from NTPC Green Energy Limited, the renewables division of NTPC Limited, following the publication of impressive Q1FY25 results. According to a regulatory filing, Suzlon plans to build 370 wind turbine generators (WTGs) of S144 type, each…
Before the announcement of important US job statistics, investors withdrew part of their money from the market, causing the benchmark indices to see their largest one-day loss in a month on Friday. The Nifty dropped 293 points, or 1.2%, to settle at 24,852.15, while the Sensex was down 1,017 points, or 1.2%, to 81,183.93. With…
Debasish Nanda, the business development director of state-owned Coal India, stated at the BloombergNEF summit on Thursday that the company plans to add 5 gigawatts (GW) of renewable energy capacity by 2028, one year sooner than anticipated. The corporation is also looking to establish pump storage projects in its depleted open-cast mines. It is in…
