City Ahmedabad Financial News
05.11 / 17:11
04.11 / 12:57
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US firm Alkomex to expand R&D footprint in India
Alkomex GBN looks to expand its research and development footprint in India and has roped in nutraceuticals expert Sanjay Agrawal to spearhead its strategic initiatives in the country, a statement said on Monday. Alkomex GBN has formed a partnership with Dr Sanjay Agrawal, a renowned Indian expert in health management and nutraceuticals, and has appointed him as the Scientific Advisor for Alkomex GBN, the statement said. «His leadership will be instrumental in driving our growth as we continue to expand our footprint in the nutraceutical and functional food sectors,» Alkomex CEO Alex Meneses Vega said.
03.11 / 07:31
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All nine river bridges completed between Vapi and Surat for Mumbai-Ahmedabad Bullet Train Corridor
MAHSR) or popularly known as the Ahmedabad-Mumbai bullet train project has marked a major achievement with the completion of all nine river bridges between Vapi and Surat, a release said on Sunday. The latest construction is a bridge over the Kharera River in Navsari district in Gujarat. The Kharera bridge is the twelfth completed river bridge of the twenty bridges planned in Gujarat for India's ambitious high-speed rail corridor. The construction project of the bridge finished on October 29. The Kharera River bridge stretches 120 meters in length, supported by three full-span girders measuring 40 meters each. Its piers rise between 14.5 and 19 meters in height and include one circular pier of 4 meters and three of 5 meters in diameter.
31.10 / 03:57
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Diwali Lakshmi Puja 2024 Time: Check city-wise shubh muhurat for Bengaluru, Delhi, Mumbai, Noida, Gurgaon & other major cities
Lakshmi Puja to honor the goddess of wealth and prosperity. This main event follows Dhanteras and will precede Bhai Dooj, with each day bearing its own rituals.
30.10 / 12:13
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Trom Industries secures Rs 33 cr orders from Gujarat Metro, Corona Remedies for solar projects
Trom Industries Ltd on Wednesday announced bagging solar projects worth Rs 33 crore from Gujarat Metro Rail Corporation (GMRC) and Corona Remedies. The company, in an exchange filing, stated that it has secured a Rs 20.70 crore work order from Gujarat Metro Rail Corporation (GMRC) Limited for five years. The company will install and maintain grid-connected rooftop solar power projects of 5MW for 15 metro stations of the Ahmedabad Metro Rail project, the filing stated. The supply will start this year in a phased manner. The company has also received a Rs 12.40 crore purchase order from Corona Remedies for commissioning a grid-connected ground-mounted solar PV plant.
30.10 / 07:43
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Who is Mahesh Langa, 'The Hindu' journalist accused of floating 200 firms in a multi-crore fraud?
Mahesh Langa of a key role in a multi-crore Central Goods and Services Tax (CGST) fraud involving hundreds of shell companies. The ED claims to have uncovered a network of 200 shell entities used to fraudulently claim input tax credit (ITC) without any exchange of goods or services, a TOI report stated.
28.10 / 09:47
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Why inflation rate may not be the most 'accurate gauge' of the economy?
Economic Survey for September and said that inflation expectations in India are softening, indicating reduced inflationary concerns. The report said that both household and business surveys by the Reserve Bank of India (RBI) and the Indian Institute of Management, Ahmedabad (IIM-A) suggest a stable demand environment, despite the impact of price fluctuations in key food items on headline inflation. «The headline inflation rate, influenced as it is by a few food items, may not be the most accurate gauge of underlying demand,» the government said.
27.10 / 14:25
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Holiday travel to UP, Bihar made easy: Railways to run 7,000 special trains for Diwali, Chhath Puja; Details here
Diwali and Chhath Puja festivities, Indian Railways has announced the deployment of over 7,000 special trains, including clone trains, to accommodate the expected surge in passengers. Dilip Kumar, Executive Director of Information & Publicity at the Railway Board, highlighted several measures being introduced by the Railway Ministry to handle the increased demand.
25.10 / 11:39
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Rags to riches: This Indian billionaire once sold detergent on cycle and today owns Rs 23,000 crore company
Nirma detergent. Karsanbhai Patel, an Indian billionaire businessman hailing from Gujarat, founded Nirma. Patel was born in Gujarat's Ruppur in 1945 in a financially constrained family but his spirit driven by determination and the relentless pursuit of excellence, helped him carve a niche foe himself in business.
24.10 / 16:07
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Bengaluru leads as top job hub with 9.3 pc salary growth: Report
Bengaluru dominated as the country's top city for job opportunities and salary growth as it has registered a 9.3 per cent year-on-year increase, closely followed by Chennai and Delhi, a report said on Thursday. This growth underlines Bengaluru's reputation as a technology and business hub as the average monthly unified salary in the city stood at Rs 29,500, making it the highest-paying city in the country, according to TeamLease Services Jobs and Salaries Primer report for FY24. The report is based on an analysis of unified salaries across temporary and permanent hiring markets. This was closely followed by Chennai and Delhi, which reported strong salary growth of 7.5 per cent and 7.3 per cent, respectively, reflecting the competitive nature of these job markets, it noted.
23.10 / 09:17
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Montecarlo explores sale of nine road assets in $360 million deal
Subscribe to enjoy similar stories. New Delhi: Ahmedabad-based Montecarlo Ltd, an engineering procurement and construction company, is exploring the sale of nine road assets in a deal expected to have an enterprise value of around $360 million (about ₹3,025 crore), said two people aware of the development. These nine road assets, or projects, fall under the so-called hybrid annuity model, which is considered attractive due to its risk-mitigation qualities.
23.10 / 06:03
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India is a significant market for aseptic packaging: SIG’s Samuel Sigrist
SIG Combibloc wants to make a difference. Last year, the Swiss firm — with a India clientele of brands like Amul, KMF, MilkyMist, Heritage Dairy, Coca-Cola, Parle Agro — began constructing its 10th global aseptic packaging plant in Ahmedabad, which will create over 300 jobs. In a conversation with ET Digital, Samuel Sigrist, CEO, SIG Group, talks about aseptic packaging technology and how India is the right market for it. Edited excepts: Economic Times (ET): What kind of potential is SIG looking to cater to in India when it comes to sustainable dairy packaging or sustainable packaging? Samuel Sigrist (SS): This is an amazing starting point, because in some markets in Asia, we first need to teach people to like milk. But that is not the challenge here. So the problem statement here starts with an opportunity statement. It is the largest milk market in the world and less than 10% is processed and packaged; and even a smaller part is in the safest form in the aseptic beverage carton. Now that just shows you the upside that we see. What drives this upside is not just the population growth, but also rising disposable income growth, a growing middle class and urbanisation.
20.10 / 11:23
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Bomb threats or hoaxes? Over 20 Indian flights targeted in one day
Indian airlines received bomb threats, as reported by sources. Among the airlines affected are IndiGo, Vistara, Air India, and Akasa Air, including some international routes. IndiGo had six flights impacted by the threats, which included routes such as 6E 58 from Jeddah to Mumbai, 6E 87 from Kozhikode to Dammam, and flights 6E 11 and 6E 17 from Delhi and Mumbai to Istanbul, respectively. Other affected services included 6E 133 from Pune to Jodhpur and 6E 112 from Goa to Ahmedabad.
18.10 / 19:15
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More flights may connect India and UK as travel scene hots up
British Airways and Air India preparing to mount new flights to capitalise on the travel boom. London is one of the most lucrative destinations for carriers connecting to India as the British capital is home to a large Indian diaspora besides being a leading tourist and business destination for Indians. British Airways operates 56 daily flights from Heathrow to Delhi, Mumbai, Chennai and Hyderabad. It will add a new daily Delhi-Heathrow flight from April next year which will augment the carrier's total flights to India to 63 per week.
16.10 / 09:19
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Akasa Air Delhi-Bengaluru flight receives bomb threat, diverted back to Delhi
Akasa Air flight bound for Bengaluru from Delhi received a bomb threat on Wednesday in a series of such threats received by multiple airlines in the last two days. The flight, carrying 174 passengers including seven crew members, is being monitored by the budget-carrier's Emergency Response team and is expected to be diverted to the IGI Airport in Delhi. «Akasa Air flight QP 1335, flying from Delhi to Bengaluru on October 16, 2024, and carrying 174 passengers, 3 infants and 7 crew members on board, received a security alert. The Akasa Air Emergency Response teams are monitoring the situation and have advised the pilot to divert the flight to Indira Gandhi International Airport in Delhi with abundant precaution. The Captain is following all required emergency procedures for a safe landing in Delhi and the estimated time of arrival is approximately 14:00 hrs: Akasa Air Spokesperson,» an airlines spokesperson said. Meanwhile, an IndiGo flight also received a bomb threat on Wednesday, making it the second flight in two days to undergo a security concern. The Mumbai-Delhi was diverted to Ahmedabad where the passengers were disembarked after the flight was isolated, an Indigo spokesperson informed.
16.10 / 07:29
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IndiGo, Malaysia Airlines enter codeshare partnership for enhanced connectivity in India, Malaysia
Malaysia Airlines and IndiGo entered a strategic codeshare partnership following the Memorandum of Understanding (MoU) signed in April 2024. The partnership aims to boost connectivity and elevate the traveller experience across its key hubs within Malaysia and India.
15.10 / 13:11
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Kuki Inpi demands withdrawal of Manipur Police from Mongbung and Sejang Villages amid rising tensions
Kuki Inpi Jiribam, Tamenglong & Noney (KIJTN) has sought withdrawal of Manipur State Police from Mongbung and Sejang Villages. KIJTN stated it is compelled to issue a notification expressing its displeasure against the policy of the Jiribam/State Police Department regarding the encirclement of Mongbung and Sejang Villages. The State police created havoc in these two villages by ransacking food provisions on the 10th of July this year, and three days later, Manipur Police Commandos, along with CRPF personnel, attacked the villages, leading to the loss of a CRPF jawan. It added that the tribal CSOs of the area and various organizations have requested the concerned authorities that any deployment of Manipur State Police should not be allowed, and if Central forces are to be deployed, they should consist of the Assam Rifles. However 14th October personnel of Police Commandos and CRPF were deployed and stationed in the Ahmedabad area amidst opposition from the
15.10 / 09:19
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Coffee champions and how to brew a flavourful cup
Subscribe to enjoy similar stories. Speciality coffee has come a long way since the pandemic. While homebrewers polished the art of pourovers at home, cafés sought top notch bean-to-cup experiences.
14.10 / 21:25
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Bishnoi gang hires hitmen with no criminal record
Baba Siddique and probe any possible involvement of jailed gangster Lawrence Bishnoi, officials said that the modus operandi of the Bishnoi gang is to engage youth with no criminal records while meeting between its associates and selection of a target is done inside jails as members of the gang are wanted by police across various states in Punjab, Haryana, Rajasthan, Delhi, Mumbai. Bishnoi has been lodged in Sabarmati jail in Ahmedabad since 2023. «These gangsters engage their criminal network to lure unemployed youth, not only in Punjab but also from the neighbouring states by offering them either huge amounts of money or a promise of helping them settle abroad,» according to the NIA. For the killing of Siddique, police officials said the shooters were first timers. Early this year, the gang was behind the killing of INLD chief Nafee Singh Rathee and a Gurugram-based bookie Sachin Munjal. Bishnoi's associate from Canada, Rohit Godara, had claimed responsibility for the killing. On Bishnoi's alleged proceeds of crimes, the NIA has unearthed that one Manish Bhandari, living in Thailand, manages the funds. Bhandari runs the night club chain named Bollywood Club, Cama Club and a hotel-cum-restaurant Punappa in Thailand. The money collected through extortion, illegal liquor and arms smuggling business is sent to Bhandari in Thailand through hawala for investing in night clubs and bars, according to the NIA.
09.10 / 15:25
08.10 / 19:08
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US co Amneal plans units in India for weight-loss drugs
Amneal Pharmaceuticals, the third largest generic drugmaker in the US, plans to invest $150-200 million over the next four to five years to build a manufacturing facility in Ahmedabad housing two greenfield plants for producing weight loss drugs.
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