MUMBAI: The Gautam Adani family owned Ambuja Cements is buying Penna Cement Industries in a deal valued at Rs 10,442 crore including debt, expanding its presence in the south. The transaction marks Ambuja’s fourth M&A after Adani checked into the sector through the former in Sept 2022. Hyderabad-based Penna, promoted by P Prathap Reddy and…
AHMEDABAD: Adani Group-owned Ambuja Cement on Thursday announced a landmark acquisition of Penna Cement Industries Limited (PCIL) at an enterprise value of Rs 10,422 crore. This strategic acquisition was fully funded through internal accruals, the company said. This way, Ambuja will acquire 100 per cent of PCIL’s shares from its current promoter P Pratap Reddy.Ajay…
MUMBAI: India can reduce taxes, maintain a low tax to GDP ratio and still collect robust taxes because of its large population. However, the informal sector must come within the tax ambit to enable the transition to a developed economy with a $ 25 trillion GDP by 2047, said experts who were debating at Think…
Modi government’s 100-day agenda for education: The education ministry‘s 100-day plan aims to assess the true state of the country’s schooling system through its nationwide Vidya Samiksha Kendra (VSK) network. The goal is to have a VSK centre in every state linked to the national VSK within 100 days, with digital availability of parameters such…
Aadhaar Card latest news: The government has extended the deadline for updating Aadhaar card details for free to September 14, 2024, as per the Unique Identification Authority of India (UIDAI) website. Aadhaar is a 12-digit unique identity number issued to Indian residents based on biometric and demographic information. This number aims to prevent duplicate and…
ATM transactions to cost you more? The Confederation of ATM Industry (CATMI) has approached the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to request an increase in the interchange fee paid by customers for cash withdrawals at ATMs. CATMI is seeking to raise the fee to a maximum of…
Analysts are of the view that the market is likely to consolidate in the near term with positive bias. (AI image) Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in opening trade on Thursday. While BSE Sensex moved closer to the 77,000 mark, Nifty50 was above 23,400. At 9:18 AM,…
NEW DELHI: Retail inflation eased slightly to a 12-month low in May with prices of some food items moderating marginally, while the index of industrial production (IIP) growth held steady at 5% level in April.Data released by the National Statistical Office (NSO) on Wednesday showed retail inflation, as measured by the Consumer Price Index (CPI),…
NEW DELHI: India will become the main driver of global oil demand growth in the second half of the decade on the back of expanding transportation of fuel consumption, driven by rapid economic growth and growing population, the International Energy Agency (IEA) said on Wednesday.The agency’s Oil 2024 report and forecast till 2030 saw India’s…
The Consumer Price Index (CPI) inflation for the month of May 2024 eased to 4.75% as against 4.83% in April 2024. The rural and urban inflation rates are 5.28% and 4.15%, respectively. The Consumer Food Price Index (CFPI) inflation came in at 8.69%, down marginally from 8.70% in April 2024.Notably, the all India inflation based…
