Adani Group on Thursday bagged two contracts worth Rs 13,888 crore from a state-owned discom to install smart meters.
A total of six tenders were awarded by the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to install smart meters, of which two have been bagged by the Adani Group, according to an official communiqu from the discom seen by PTI.
The diversified group, which has a sizeable presence in the power sector and had recently won a Rs 1,000 crore contract to install smart meters in the area serviced by BEST Undertaking in Mumbai, will act as an advanced metering infrastructure service provider for smart prepaid metering in MSEDCL, it said.
The two zones awarded to Adani include Bhandup, Kalyan and Konkan having 63.44 lakh meters, and Baramati and Pune having 52.45 lakh meters, it said.
Letter of Awards have been issued to the successful firms, as per the communiqu.
Officials from Adani Group were not immediately available for comment.
The group's transmiss

Adani, Adani Group

India's addition to a major global gauge will give global investors greater access to the world's fastest-growing large economy that offers some of the highest returns in the region

JPMorgan Chase & Co

Given the relatively small weight in the Bloomberg Global Aggregate Index, analysts expect India's inclusion could take place in one shot

bonds market, currencies, currency, RBI, yield

Air India flew and LIC moved, but a big-bang PSU stake sale programme has proved to be elusive so far

Nirmala Sitharaman,

The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024

Banks

The airline, which operates about 120 flights per day, is expecting to cancel a total of approximately 600-700 flights in September if the spate of resignations continue

Akasa Air

Finance Minister Nirmala Sitharaman on Tuesday expressed concern over the slow progress of computerisation in Regional Rural Banks (RRBs) and urged them to speed up the process to strengthen credit delivery in rural areas.
There is still a lot of work to do in digitising RRBs and cooperative banks, she said after launching the 'Kisan Rin Portal' and Weather Information Network Data Systems (WINDS) manual here.
Cooperative banks are not equally endowed, and their financial health varies, she said, adding ramping up capacity in the sector is taking place under the Ministry of Cooperation headed by Home Minister Amit Shah.
The cooperative bank digitisation would happen with the necessary speed, she said.
However, she said, "I am more concerned about RRBs, their digitisation and computerisation. Therefore, if they didn't have it, extending phone bank facility...or internet banking facility...won't work out".
A lot of work is still pending, and the Department of Financial Services is .

Finance Minister Nirmala Sitharaman

Disney said it has seen record growth in customer spending at parks over past two years, and significant decrease in number of tickets it sells at a discount, compared with before pandemic

Disney

Women, Women CEO

FTX owed customers approximately $8.7 billion when it filed for bankruptcy and about $7 billion in liquid assets have been recovered so far

Sam Bankman Fried

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

The fiscal burden of states will increase over time

pensions, funds, retirement, investments, investors, savings

The board of the private sector lender is scheduled to meet on Friday, September 22, 2023 to consider the raising of funds by issue of equity shares / any other equity linked securities.

Karnataka Bank

As part of the partnership, Infosys will have access to NVIDIA's full-stack gen AI program and will set up a NVIDIA Centre of Excellence

NVIDIA Founder & CEO, Jensen Huang with Infosys Co-founder & Chairman, Nandan Nilekani (Photo: Infosys)

NVIDIA Founder & CEO, Jensen Huang with Infosys Co-founder & Chairman, Nandan Nilekani

The report says that judicious use of trade policy is needed to tame inflation at home without hurting farmer earnings

Farmer

With softening of inflation, volume growth is finally returning and rural demand is witnessing green shoots, Procter & Gamble Hygiene and Health Care Ltd (PGHHL) said on Friday.
PGHHL, which reported a 12 per cent sales growth in FY23 and 3 per cent sales growth in the first quarter this fiscal, said FMCG consumption in the June quarter was the fastest in the last six quarters.
"Inflation is softening and volume growth is finally returning. A growth of 7.5 per cent in a quarter for the industry is great news," PGHHL Vice President Finance Gautam Kamath said in an investors' call.
This volume growth eventually unlocks capital investment and triggers a positive investment cycle.
"In another piece of good news, the rural demand is growing as well. With a quarter showing 1.4 per cent volume growth in the non-food sector in the rural economy after four quarters of significant volume decline," he added.
After a couple of years of flat volume growth, the industry as a whole is looking to

P&amp;G

External Affairs Minister S Jaishankar on Friday met his Japanese counterpart Yoko Kamikawa here for the first time and exchanged views on the Special Strategic and Global Partnership between India and Japan and ways to further enhance bilateral ties.
Kamikawa, a 70-year-old veteran lawmaker, succeeded Yoshimasa Hayashi as Japanese foreign minister in a Cabinet reshuffle earlier this month.
"Delighted to meet Foreign Minister of Japan Yoko Kamikawa at #UNGA78," Jaishankar wrote on X.
"Exchanged perspectives on our Special Strategic and Global Partnership. Discussed our regional, multilateral and global cooperation and taking them forward," he posted.
Earlier, Jaishankar had a warm discussion with Quad colleagues to start his participation at the 78th session of the United Nations General Assembly.
"Welcomed Japanese FM Yoko Kamikawa to the meeting. Discussed defending the rules-based international order in the Indo-Pacific and delivering on Quad commitments.
Always value our ...

External Affairs Minister (EAM) Dr S Jaishankar

Sale of Apple's iPhone 15 is estimated to have registered a 100 per cent growth compared to that of the iPhone 14 series on the first day with high demand for made-in-India iPhone 15 and iPhone 15 Plus models, according to industry sources.
Apple has for the first time made available the 'made-in-India' iPhone on the same day it started selling the devices in the country and other parts of the globe.
"Till evening, 6 pm IST, the sales of iPhone 15 series have recorded over 100 per cent growth on Day 1 compared to the sale of iPhone 14. There are long queues everywhere and more people have started coming after their office hours," an industry source, who did not wish to be identified, told PTI.
An email query sent to Apple did not elicit any reply.
Apple has started selling made-in-India iPhone 15 and iPhone 15 Plus, having colour options of pink, yellow, green, blue, and black with 128 GB, 256 GB, and 512 GB storage capacities, at starting prices of Rs 79,900 and Rs 89,900, ...

Apple Saket Store

The Indian Railway Finance Corporation Limited (IRFC) posted a net profit of Rs 6,337.01 crore for the fiscal year 2023, an increase of over four per cent over last year, a company statement said on Friday.
Addressing the Annual General Meeting, Shelly Verma, Chairman and Managing Director of IRFC, said the company reported a total revenue from operations amounting to Rs 23,891.28 crore, a 17.70 per cent year-on-year increase over the last fiscal year.
The company has declared a total dividend of Rs 1,960.28 crore which works out to 30.93 per cent of profit after tax for FY 2022-23, she added.
Verma said IRFC disbursed an amount of Rs 32,392.63 crore in FY23 to the Indian Railways.
The asset under management for FY23 stands at Rs 4,66,938 crore, registering a year-on-year growth of 8.63 per cent. The capital adequacy ratio of IRFC continues to remain strong at 512.02 per cent in FY23, she added.

Indian Railways, trains for lower income groups

The two laxative brands together have estimated annual sales of $70 million in India, healthcare data firm Pharmarack says

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Volume growth returning, rural demand seeing green shoots: Procter & Gamble

EAM Jaishankar, Japanese counterpart discuss ways to bolster strategic ties

Sale of Apple iPhone 15 sees 100% growth versus iPhone 14's on Day 1

IRFC posts Rs 6,337 crore profit in FY23, total revenue at Rs 23,891 cr

Abbott India warns of laxatives shortage in tussle with Goa regulator

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