UltraTech Cement Ltd has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement to acquire a 13.99% equity stake in FPEL Services Pvt. Ltd., a company engaged in the generation and transmission of renewable energy through wind power. The company said the acquisition is aimed at meeting its green energy requirements,…
Shahnaz writes on a wide range of topics, including business, social issues, politics, environment, lifestyle and gender. She has previously wrote long-form content covering a wide range of topics, including politics, policies, and more. Additionally, she monitored wires services, social media, and local news outlets for breaking news and relevant stories. Also, she honed her…
A block deal in eyewear firm Lenskart Solutions Ltd is expected on Thursday (June 11), with Platinum Jasmine A 2018 Trust likely to sell a 2.3% stake in the company, sources close to the development said. The floor price for the deal has been set at ₹486 per share, which is a 2.8% discount to…
‘AI could be the next inflation shock,’ warns SPI Asset Management’s Stephen Innes Global markets may be underestimating the inflationary impact of artificial intelligence (AI), while upcoming IPOs and a potentially hawkish US Federal Reserve could create a challenging environment for equities in the coming weeks, according to Stephen Innes, Managing Partner at SPI Asset…
US inflation accelerated in May, with consumer prices rising 4.2% year-on-year, marking the highest annual inflation rate in more than three years as escalating energy costs added to price pressures across the economy, according to data released by the US Bureau of Labor Statistics on Wednesday. The Consumer Price Index (CPI), a broad measure of…
The RBI’s forex swap measures on FCNR (B) deposits and ECBs by state-owned companies could attract $60-70 billion in foreign capital and support the rupee, India Ratings and Research (Ind-Ra) said on Wednesday. The central bank, on June 8, announced that authorised dealer banks can access the RBI’s swap facility for Foreign Currency Non-Resident (Bank)…
Pune-based construction company Vascon Engineers Ltd on Wednesday (June 10) said it has received a ₹347.43 crore Letter of Intent from the Central Public Works Department, Guwahati Division, for demolition and redevelopment of RBI Quarters at Zoo-Narengi Road Colony in Guwahati, Assam. “We are pleased to inform that Vascon Engineers Limited has received a Letter…
Cipla is aiming to derive 10% of its revenue from innovation-led products over the next five years as the drugmaker looks to build new growth engines beyond its core generics business, Chief Executive Officer Achin Gupta told CNBC-TV18. The move comes as Indian pharmaceutical companies increasingly seek to move up the value chain through differentiated…
ET Now Exclusive: India’s defence sector is currently undergoing a major transformation. Once considered the world’s largest importer of weapons and military equipment, India is now gradually emerging as a major defense exporter. Defence exports have reached close to Rs 38,000 crore, and the government has set a target of increasing this to Rs 50,000…
Eternal Ltd, the parent company of food delivery aggregator Zomato and quick commerce operator Blinkit, said on Wednesday, June 10 that it has received a GST demand order from the Deputy Commissioner (ST), State Special Circle-I, Andhra Pradesh, involving tax, interest and penalty aggregating to more than ₹9.63 crore, as per a regulatory filing. The…
