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Read More)Adani Group will invest $4 billion-$5 billion to expand its cement capacity to over 100 million tonnes in two years, two people aware of the matter said, on a day the conglomerate made yet another acquisition.On Thursday, Ambuja Cements Ltd, part of Adani Cement, announced the purchase of 57% promoter stake in cement maker Sanghi Industries Ltd at an enterprise value of ₹5,000 crore.“Adani will add around 30 million tonne per annum (mtpa) cement making capacity in two years, both via organic and brownfield acquisitions, for which $4-5 billion could be invested, which will be funded mostly through internal accruals," one of the two people cited above said on condition of anonymity. (Read More)Bharti Airtel released its financial results for the first quarter of fiscal year 2023-24 (Q1FY24) on August 3, showing a net profit of ₹1,612 crore.

This figure remained almost unchanged when compared to the net profit of ₹1,607 crore in the corresponding period last year.The company's revenue from operations during Q1FY24 reached ₹37,440 crore, indicating a significant increase of 14% compared to ₹32,850 crore in the same period last year.On the operational front, Bharti Airtel performed well, with earnings before interest, taxes, depreciation, and amortization (EBITDA) growing by 19% to ₹19,746 crore during the June quarter. Additionally, the EBITDA margins saw a substantial increase of 277 basis points year-on-year, reaching 53.7%.By the end of the June quarter, the net debt-EBITDA ratio (annualized), which includes the impact of leases, was calculated to be 2.63 times.