Enterprise Financial News

₹11,330 crore) from stock sales in three group firms, bringing the total amount raised over the past four years to USD 9 billion as the conglomerate attracts interest from a variety of investors. In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies." "In the most recent instance, Adani family has raised USD 1.38 billion ( ₹11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd," it said.

Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it «is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies.» «In the most recent instance, Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies — Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd,» it said.

₹1 crore in exports.  Toys, ayurveda, home and kitchen products, and furniture are among the best-selling categories. The company says it expects to see many niche micro, small and medium enterprises (MSMEs) grow into global brands. There’s a big market to be tapped for Make-In-India offerings: the handloom fabrics, handcrafted shoes, artisan jewellery and toys.  India must actively facilitate this development.

Digital Labs Private Limited (ADL), a subsidiary of Adani Enterprises, has recently completed the acquisition of a 29.81% stake in Enterprises Private Limited (SEPL), popularly known as Trainman, an innovative online train booking and information platform. The official announcement regarding this strategic acquisition was filed with the exchange on July 7. This move follows Adani Enterprises' previous declaration of its intention to obtain full ownership of SEPL.

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The June quarter earnings are seen to be weaker than expected amid an uncertain global environment and a slowdown in discretionary spending by clients.

Shavkat Mirziyoyev has been the President of Uzbekistan since 2016, leading the country through democratic reforms and economic changes. His popularity among the people suggests that he will win the Presidential vote on July 9 and serve seven more years. During his presidency, Mirziyoyev has transformed Uzbekistan from a closed economy known for political repression and corruption into a regional leader actively engaged in international relations and attracting foreign investments.

₹40 per share). 2. Onward Technologies (for a final dividend of ₹3 per share).

Gautam Adani's business conglomerate, has acquired approximately 30 percent ownership in Start Enterprises Pvt Ltd (SEPL), the parent company of Trainman, an online platform for booking train tickets. Adani Enterprises had previously disclosed its intention to purchase the entire stake in SEPL.

₹39.37 crore (inclusive of taxes), the scope of the project encompasses the supply, installation, testing, commissioning, and training of the SOC and NOC solution, along with 5 years of ongoing support. IVFRT project aims to modernize and upgrade immigration services.

Adani Enterprises, the flagship firm of billionaire Gautam Adani's group, has bought a close to 30 per cent stake in Start Enterprises Pvt Ltd, which owns the online train ticket booking platform Trainman. Adani Enterprises last month announced that it has signed a pact to acquire 100 per cent of SEPL. In a stock exchange filing on Saturday, Adani Enterprises said Adani Digital Labs Pvt Ltd, a wholly-owned subsidiary of the company, has bought a 29.81 per cent stake in SEPL for Rs 3.56 crore.

Railways Minister Ashwini Vaishnaw on Saturday said Prime Minister Narendra Modi has created employment opportunities for youth and also a framework to promote startups in the country. The Vande Bharat, airports, ports modernisation, highways, and expressways, among other projects are examples of how infrastructure would make a difference in people's life, he noted. «After graduation, you will join some stream of economic activity where infrastructure plays a very big difference.

India's GDP. Despite the growth of the MSME sector, they struggle to be a part of the mainstream financial ecosystem. This is where Deep Tier Supply Chain Finance comes into play.Deep Tier Financing is a business solution that leverages business relationships within the supply chain.

The government's classification of cryptocurrencies, NFTs, and tokens as virtual digital assets (VDAs) establishes their inclusion in the taxation framework. Therefore, any gains or income generated from these assets are subject to taxation. It is essential to navigate the crypto tax landscape to ensure compliance and accurately report your financial activities related to cryptocurrencies. How are Cryptocurrencies Taxed in India? All cryptocurrency purchases, sales, and transactions are subject to a 30% capital gains tax on profits, with no provisions for reduced rates or deductions under Section 115BBH. Along with the capital gains tax, a 1% Tax Deducted at Source (TDS) fee is applied to crypto asset transfers. Any transaction exceeding Rs 50,000 in a given financial year, the TDS that is deducted will be reflected in 26 AS and the same can be claimed back when filing income tax return.How to Calculate Tax on Cryptocurrencies?

AI4Bharat are raising $12 million from venture capital firms Peak XV and Lightspeed Venture for an artificial intelligence startup, according to three people familiar with the matter. The larger-than-usual seed funding round underscores the growing interest in generative AI, after OpenAI's ChatGPT dazzled users with its ability to engage in human-like conversations. Most seed rounds are usually up to $1 million to $2 million.

Tata Group companies, the salaries of chief executives within the group witnessed a rise of 16 to 60 percent during the previous fiscal year. Mint could not independently confirm the development. As per media reports, the pay of chief financial officers (CFOs) within the group also experienced an increase ranging from 6 to 35 percent.

Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans worth Rs 4,044 crore, including principal and interest amount. In a regulatory filing on Friday, Jaiprakash Associates Ltd (JAL) informed that the company on June 30th defaulted on repayments of a principal amount of Rs 1,660 crore and interest of Rs 2,384 crore. The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds).

India, Russia and Brazil, on Friday raised concerns over the EU's deforestation law, at the World Trade Organisation. Terming the EU's policy directive «unfortunate», New Delhi said that it will directly harm the economic interests of women and small enterprises.

AI4Bharat, a start-up backed by Microsoft, is raising $12 million from venture capital firms Peak XV and Lightspeed Venture to develop artificial intelligence-powered chatbots for Indian languages, according to three people familiar with the matter.The larger-than-usual seed funding round underscores the growing interest in generative AI, after OpenAI’s ChatGPT dazzled users with its ability to engage in human-like conversations. Most seed rounds are usually up to $1 million to $2 million. AI4Bharat, which is also backed by the Indian government, has been developing AI models for speech recognition and translation.

₹4,044 crore, including principal and interest amount, reported news agency PTI. Jaiprakash Associates Ltd (JAL), in a regulatory filing, said that on June 30th defaulted on repayments of a principal amount of ₹1,660 crore and interest of ₹2,384 crore. As per the details, the loans pertain to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans, and FCCB (foreign currency convertible bonds).

Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans worth Rs 4,044 crore, including principal and interest amount. In a regulatory filing on Friday, Jaiprakash Associates Ltd (JAL) informed that the company on June 30th defaulted on repayments of a principal amount of Rs 1,660 crore and interest of Rs 2,384 crore. The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds).