Business

Business

Roving Periscope: Russian court sentences Putin’s chief critic to 19 years in jail

August 5, 2023 Vinayak Barot

Virendra Pandit New Delhi: A kangaroo court in Russia on Friday convicted imprisoned opposition leader and chief Kremlin critic Alexei Navalny of alleged extremism and sentenced him to a 19-year jail term, the media reported on Saturday. The move came amid a historic crackdown on dissenting voices as Moscow’s assault on Ukraine stretches into […]

Business

The cycle of politics: Ex-Pak PM Imran arrested, barred from polls for 5 years

August 5, 2023 Vinayak Barot

Virendra Pandit New Delhi: In Pakistan’s cycle of vendetta politics, everybody knew it was coming. Even former Prime Minister Imran Ahmed Khan Niazi was aware of it —for, he had done exactly the same unto his predecessor, Mian Mohammad Nawaz Sharif, pushing him into jail and then forcing him into self-exile in London, from […]

Business

Pakistan, again: PM Shehbaz Sharif to dissolve Parliament on August 9

August 4, 2023 Vinayak Barot

Virendra Pandit New Delhi: Pakistan Prime Minister Mian Mohammad Shehbaz Sharif will dissolve the National Assembly, the Lower House of the bicameral Parliament, on August 9, and seek fresh elections, the media reported on Friday. Next Wednesday, he will send formal advice to the President for the dissolution of the National Assembly. On Thursday, […]

Business

Pakistan: Apex court dismisses Imran Khan’s plea against the Toshakhana case

August 4, 2023 Vinayak Barot

Virendra Pandit New Delhi: Pakistan’s Supreme Court on Friday dismissed former Prime Minister Imran Khan’s plea against the Toshakhana case in which he was accused of misusing his office to buy and sell gifts in state possession. The former PM, 70, had received these gifts, worth over USD 6,35,000 (PKR 140 million) during his […]

Business

Roving Periscope: ‘India in defining moment, to grow at 6.7% until FY31’

August 4, 2023 Vinayak Barot

Virendra Pandit New Delhi: It is the ‘India Moment’ all over. In fact, the South Asian country is in a defining moment to realize its ambition to become an economic superpower in the next decade, fresh reports have indicated. In its latest report, “Look Forward: India’s Moment,”, the US-based financial information and analytics company […]

Business

Good news: M&S upgrades India, downgrades the US, and China

August 3, 2023 Vinayak Barot

Virendra Pandit New Delhi: Investment banking and brokerage firm Morgan Stanley has upgraded its views on India’s markets from “equal weight” earlier to “overweight” now as it believes the South Asian nation’s reform and macro-stability agenda supports a strong capital expenditure (capex) and profit outlook. An overweight rating means that S&P expects India’s economy […]

Business

Adani Power announces Q1 FY24 results, Revenue at Rs. 18,109 Crore, up 16.8% y-o-y

August 3, 2023 Vinayak Barot

Ahmedabad, August 3rd, 2023: Adani Power Ltd. [“APL”], a part of Adani Group, today announced the financial results for the quarter ended 30th June 2023. Operating Performance During the quarter ended 30th June 2023, APL achieved an average consolidated Plant Load Factor [“PLF”] of 60.1% and sales of 17.5 Billion Units [“BU”] on an installed […]

Business

Economy: Services PMI jumps to 62.3 in July, the highest in over 13 years

August 3, 2023 Vinayak Barot

Virendra Pandit New Delhi: India’s services activity shot up sharply from a Purchasing Managers’ Index (PMI) of 58.5 in June to 62.3 in July, a report from the S&P Global Market Intelligence said on Thursday. At 62.3, the July services PMI is the highest point in over 13 years, vis-à-vis the last time’s peak […]

Business

Adani Enterprises Ltd Q1 FY24 Results, Consolidated EBIDTA increased by 47% to Rs. 2,896 cr

August 3, 2023 Vinayak Barot

Ahmedabad, August 3, 2023: Adani Enterprises Ltd (AEL), part of the Adani Group, today announced its results for the quarter ended June 30, 2023 “Every quarter, year after year and across three decades, Adani Enterprises has consistently proven its reputation not only as India’s most successful business incubator but also as a global powerhouse in […]

Business

Ambuja Cements will acquire 56.74% shares of Sanghi Industries from its existing promoter group, Mr Ravi Sanghi & family

August 3, 2023 Vinayak Barot

I am pleased to announce that the Board of Directors of Ambuja Cements have approved the acquisition of Sanghi Industries Ltd at an Enterprise Value of Rs 5,000 Cr. As Karan Adani said about the acquisition of Sanghi Cement. He further said, Ambuja Cements will acquire 56.74% shares of Sanghi Industries from its existing promoter […]