20K again on Nifty next week; 5 stocks we will continue to buy for next 10 days: Sanjiv Bhasin
Sanjiv Bhasibelieves that Dixon has already seen a significant increase in price, but the shift towards electronic manufacturing services is still favorable in the long-term. Regarding Avenue Supermarts, Bhasin thinks Trent is a better investment than DMart. He also mentions the potential for gains in Reliance Industries due to record retail sales and increased demand for distillate OTC chemicals.
Amit Khare gets extension as advisor to Prime Minister Modi
Khare, a 1985-batch (retired) Indian Administrative Service (IAS) officer of the Jharkhand cadre, had superannuated on September 30, 2021. He last served as the higher education secretary.
Govt may soon tweak PLI schemes for pharma, textiles, drones
The Indian government plans to modify the production-linked incentive (PLI) scheme for sectors such as pharmaceuticals, drones, and textiles to encourage investment and boost manufacturing. The changes include extending timelines for the pharmaceutical sector and adding additional products in certain sectors.
Production of advanced chemistry cell batteries in India likely to start by Jan 2024: Mahindra Nath Pandey
India is set to begin production of advanced chemistry cell (ACC) batteries by January 2024, according to Union Minister Mahindra Nath Pandey. The government approved a scheme for manufacturing ACC batteries in May 2021, with an estimated cost of Rs 18,100 crore. ACCs are advanced energy storage technologies that can store and convert electric energy.
Asia Cup 2023: ACC adds reserve day exclusively for India-Pakistan 'Super Four' clash on Sep 10
"A reserve day has been incorporated for the Asia Cup 2023 Super 4's match between Pakistan and India scheduled to take place on 10th September 2023 at R. Premadasa International Cricket Stadium in Colombo," the ACC said in a statement.
PCB demands compensation from ACC for losing Asia Cup matches
The Pakistan Cricket Board (PCB) has demanded compensation from the Asian Cricket Council (ACC) for the loss of gate money due to Asia Cup matches being held in Sri Lanka. The PCB chairman, Zaka Ashraf, has sent a formal letter to the ACC president, Jay Shah, expressing disappointment over the handling of match scheduling and last-minute venue changes without consulting other ACC board members.
"Visit to Pakistan purely for Cricket": BCCI VP Rajeev Shukla
The President of the Board of Control for Cricket in India (BCCI), Roger Binny, and Vice-President Rajeev Shukla have arrived in Pakistan for the Asia Cup 2023. They are attending the event after an invitation from the Pakistan Cricket Board (PCB). Binny and Shukla clarified that their visit is purely for cricket and not political reasons. The tournament is being held in Pakistan and Sri Lanka from August 30 to September 17. The Indian team did not tour Pakistan for the tournament, and future tours will be decided based on government advice.
Shares of Adani Group cos decline by 2-4% on OCCRP report
Shares of Adani Green Energy fell 4.3%, while Adani Enterprises, Adani Transmission and Ambuja Cements fell nearly 4%. ACC bucked the trend, ending marginally higher.
Adani Cement set to improve profitability by 45-50% in 5 years, says CEO Ajay Kapur
The Adani group - through its buyout of ACC and Ambuja Cements - is the second largest manufacturer of cement in the country. It plans to double its existing capacity to 140 million tonnes in five years with an estimated capital expenditure of ₹47,000 crore.
Share price of ACC jumps as Sensex gains 124.97 points
Promoters held 50.05 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 9.98 per cent and 9.21 per cent, respectively.
Cell companies seek flexible terms on capacity under PLI plan
Companies manufacturing cells - a key component of batteries used in electric vehicles, consumer electronics and high-tech electricity grids - have asked the government to make flexible the minimum capacity required to be set up for availing of incentives under the ₹18,100 crore production linked incentive (PLI) scheme for advanced chemistry cells (ACC).
Commercial production under PLI-ACC scheme to commence in current fiscal: Govt
The scheme aims to strengthen the ecosystem for Electric Mobility and Battery Storage in the country and aims to add to Atmanirbhar Bharat initiative. "In line with the scheme vision to ensure domestic value addition, the technology for the Advanced Chemistry Cells is being developed by all 3 beneficiaries, which is in advanced stages of development. The total investment till date by these beneficiary organisations has reached up to Rs 2,090 crore," the statement said.
Market was already in a downtrend , now it breakout the resistance line shown in chart and now it is bouncing from support , you can wait here for some retracement then buy at support level
Reliance Industries to commission first phase of solar module factory by March
Reliance Industries (RIL) plans to commission the first phase of its 20 GW solar photovoltaic giga factory in Jamnagar by March 2024. The factory will be commissioned in four phases of 5 GW each, and after the first phase, it will be scaled up to 10 GW and then to 20 GW by 2026.
Meanwhile, Worldwide Emerging Market Holding, part of the promoter group, offloaded a 1.2% stake. Another promoter entity Afro Asia Trade and Investments sold its entire stake in the deal. The promoter group entities together sold about 8.1% stake in Adani Power, bulk deals data further showed.
Strong operational performance helped boost the group's net profit, although overall sales saw a decline during the quarter. The comparative performance excludes the group's cement entities acquired after the first quarter of FY23.
PCB invites Jay Shah to Pakistan to watch opening match of Asia Cup
The Pakistan Cricket Board (PCB) has invited Jay Shah, Secretary of the Board of Control for Cricket in India (BCCI) and President of the Asian Cricket Council, to attend the opening match of the Asia Cup between Pakistan and Nepal on 30 August. Alongside Shah, the heads of other boards involved in the Asian Cricket Council have been invited.
Alia Bhatt’s make-up tutorial sparks outrage; netizens upset with Ranbir Kapoor
In a video for Vogue India, the ‘Rocky Aur Rani Kii Prem Kahaani star was seen trying out various shades of lip colour and talking about her favourite way of applying lipstick.
ACC battery market demand in India to rise to 220 GWh by 2030: Report
India's demand for advanced chemistry cell batteries is expected to surge, from 20 GWh in 2022 to roughly 220 GWh by 2030, as a result of the robust local supply chain and thriving battery manufacturing. The growth will also be buoyed by the country's localisation of a significant percentage of the entire value chain, according to a new report by the Confederation of Indian Industry (CII).
No plan to reopen application window for PLI auto: Govt
There is no plan to reopen the application window for companies under the production linked incentive (PLI) scheme for the automobile sector, Parliament was informed on Friday. In a written reply to the Lok Sabha, Minister of State for Heavy Industries Krishan Pal Gurjar said that the ministry is implementing two PLI schemes - automobile and auto components, and advanced chemistry cell (ACC) battery storage.
PLI scheme: Disbursement to touch Rs 13,000 crore this year, says DPIIT secretary
The scheme aims to attract investments in key sectors and cutting-edge technology; ensure efficiency and bring economies of size and scale in the manufacturing sector; and make Indian companies and manufacturers globally competitive.
Lupin Digital Health launches first-of-its-kind digital heart failure clinic
The digital clinic provides in-clinic consultation with at-home patient monitoring and care. A team of experts, including paramedics, nurses, cardio-therapists, health coaches and care managers, work together with the treating cardiologist to deliver improved patient health outcomes.
BCCI slashes base price of title sponsor rights to Rs 2.4 crore per match in India
The BCCI has reduced the base price of title sponsor rights for international cricket matches held in India to INR 2.4 crore per match. The three-year title sponsor rights, covering 56 matches, will begin in September 2021 and end in August 2026. The decision follows the tepid demand for high-priced cricket properties and the exit of new-age brands, conserving cash. BCCI is targeting a larger number of brands for bidding and potential entry of a new sponsor category.
Indian Oil chairman Shrikant Madhav Vaidya gets extension
The government has granted Indian Oil chairman Shrikant Madhav Vaidya a rare tenure extension beyond his retirement thats due at the end of this month. ET was the first to report in June that the petroleum ministry had recommended a 2-year tenure extension for Vaidya.
RIL, Jubilant FoodWorks among 6 stocks that crossed 200-day SMA
Jubilant FoodWorks, Reliance Industries, ACC, and others emerged as key players in their respective sectors, reflecting their resilience and growth potential.
Nifty likely to stay range bound in 19,300-19,700: Analysts
ACC, Sun Pharma, TCS, Tech Mahindra, HCL Technologies, Atul, Jubilant Food, IDBI Bank and Metropolis are good buying opportunities at current levels, said analysts.
We did not ask India to send 'little kids' for Emerging Asia Cup, says Pakistan's Mohammad Haris
Pakistan defeated India by a huge margin of 128 runs in the summit clash to win the trophy, but there was some criticism for the winners since they had plenty of players with international experience compared to a young Indian side.
PFC, HDFC AMC, Cummins likely to enter MSCI Global
IDFC First Bank is expected to see inflows of $200 million from global passive funds if included in the MSCI index. The stock has rallied nearly 48% so far this year. Power Finance, Ashok Leyland and Cummins India could see inflows of around $190 million each if these stocks are in the MSCI index.
How has the Adani Group fared so far and what is the value now? Deven Choksey answers
"Coming to Adani Enterprises, instead of retail investors, this kind of business is definitely more meaningful if you are an institutional investor like pension fund, insurance fund, sovereign fund or a large-sized hedge fund, because it is producing unlocking of value in coming years. Also, I see the entire infrastructure portfolio of the company at the group level to begin with and then respective companies thereafter."
As of 30-Jun-2023, promoters held 50.05 per cent stake in the company, while FIIs held 9.98 per cent and domestic institutional investors had 9.21 per cent.
We are expecting mid-teens earnings growth over next two years: Harsha Upadhyaya
So, we expect that in the September to December quarter somewhere you will see a significant improvement in the profitability of the cement companies.
No merger, Sanghi to stay listed for now: Karan Adani
"Sanghi Industries will be a debt-free company after the takeover. Ambuja and ACC combined had a cash balance of roughly Rs 11,800 crore as of Q1. This year, we would be adding another Rs 3,000 crore of free cash after capex, tax and dividends. With the Sanghi Industries acquisition, we would be looking to end this financial year with close to Rs 11,000 crore of cash," said Karan Adani.
Ambuja Cements acquires majority stake in Sanghi Industries at enterprise value of Rs 5,000 cr
The acquisition will be fully funded through internal accruals, said a statement from Ambuja Cements. Besides, it would make an offer to acquire another 26% or 6.71 crore equity shares from SIL's public shareholders
PLI on track; investment commitments at 60% of capex target: SBI MF research
“Investment commitments in auto has overshot government expectation while on the other hand, investment commitments have underwhelmed governments vision for ACC, textile, and mobile electronics,” SBI MF economists stated, pointing out that Rs 2.9 lakh crore of investment commitments had been received against the perceived capex target of Rs 5 lakh crore.
Cabinet secretary reviews progress of PLI scheme in certain sectors; another meeting likely soon
Cabinet secretary Rajiv Gauba on Thursday reviewed the progress of the production-linked incentive scheme (PLI) for sectors that are "generally doing very well" like pharma and electronics, a senior official said. Another such review is expected for the remaining sectors, the official said.
Cabinet Secretary Rajiv Gauba gets another one-year extension
The Appointments Committee of the Cabinet (ACC) has approved the extension in service to Gauba, a 1982-batch Indian Administrative Service (IAS) officer of the Jharkhand cadre, for a further period of one year beyond 30.08.2023, in relaxation of the All India Services (Death-cum-Retirement Benefits) Rules, 1958, and and Rule 56(d) of the Fundamental Rules, it said.
After Sanghee Industries, Ambuja keeping its options open on acquiring other cement companies: Karan Adani
Ambuja Cements has taken a majority share in Sanghee Industries, buying the cement maker for Rs 5,000 crore ($667m). The company wants to exploit Sanghee's location, adjacent to the sea and coal mines, and its limestone reserves to establish the Kachchh plant as the cheapest clinker production plant in the country. Ambuja believes it can produce clinker for Rs 1,500-1,600 per tonne. Immediately after the acquisition, Ambuja plans to increase its cement capacity from 6.1 million tonnes to 10 million tonnes and further expand to 15 million tonnes in two years.
Sanghi Industries shares jump 5%, Ambuja Cement climbs over 3%
Ambuja Cement on Thursday announced the acquisition of a majority stake in Sanghi Industries, one of the leading cement manufacturers from western India, at an enterprise value of Rs 5,000 crore.
Adani’s Ambuja-ACC reaches agreement to buy Sanghi Cements
Sanghi Cement is controlled by the family of Ravi Sanghi who are the promoters of the listed Sanghi Industries. Sanghi Industriess shares hit a 52 week high of Rs. 100.40 on Wednesday giving the company a market capitalization of nearly Rs. 2600 crore. Ambuja-ACC, JK Laksmi Cement and UltraTech are the top 3 cement players in Gujarat from where Sanghi Cement also derives a bulk of its revenues.
Adani stocks gain over Rs 71,000 crore in July. Check top gainers
Adani Green Energy, which reported a 51% jump in its Q1 profit, was the biggest gainer last month as the stock ended 16% higher in July. The Ahmedabad-based conglomerate's cement units - ACC and Ambuja Cements - also saw an upside of 11% and 9%, respectively.
NITI Aayog proposes incentives for processing and refining of minerals in lithium-ion batteries
NITI Aayog has proposed incentives in the form of tax benefits and a production linked incentive scheme to encourage production and refining of critical minerals used in lithium-ion batteries. In addition, the Aayog has called for the development of strong supply chains of critical minerals and raw materials to boost the domestic lithium-ion battery manufacturing industry.