Page 45 - Investment

Paytm to invest Rs 100 cr in GIFT City to build global payments system

Service will 'reduce friction' in cross-border remittances, says fintech company ahead of Vibrant Gujarat summit

Elliott Investment amasses about $1 billion stake in Tinder owner: Report

Shares of Dallas-based Match Group have fallen 10.5% in the past year, leaving it with a market value of about $10.3 billion

Eyeing Rs 100 trn AUM, 100 mn investors by 2030 for mutual funds: Amfi CEO

'Growth from here on will depend on how the economy and companies perform and the pace at which the industry adds new investors'

Infibeam Avenues signs pact with Gujarat to invest Rs 2,000 crore by 2030

Fintech firm Infibeam Avenues on Tuesday said it has inked a pact with the Gujarat government to invest Rs 2,000 crore in the state by 2030. The company announced the investment plan on the sidelines of the 10th edition of the Vibrant Gujarat Global Summit (VGGS) 2024. Infibeam said the proposed investment will go into its artificial intelligence (AI) hub for developing technology for payments and platforms specifically tailored for retailers. "With this MoU, we aim to fortify our partnership with the Gujarat government, opening up avenues for growth for retailers across the country," Infibeam Avenues Chairman and Managing Director Vishal Mehta said in a statement. Infibeam Avenues has named its AI-Hub located at GIFT city, Gandhinagar, as 'Phronetic.ai.

Saint-Gobain plans to invest Rs 3,400 cr across segments in Tamil Nadu

Glassmaker and a player in housing solutions business Saint-Gobain India has committed investments worth Rs 3,400 crore in Tamil Nadu across business segments, which includes setting up of green and brownfield investments. The company exchanged documents with state government officials in the presence of Chief Minister M K Stalin during the Global Investors Meet held in the city. "We are investing Rs 3,400 crore across different businesses - glass wool, gypsum, plasterboard, plaster, acoustic ceiling, float glass, adhesives, sealants, in our next phase of expansion in Tamil Nadu," said B Santhanam CEO, Asia Pacific and India Region and Chairman, Saint-Gobain India. The Memorandum of Understanding entails green and brownfield investments in several manufacturing sectors in Tamil Nadu, taking Saint-Gobain India's total investment to over Rs 8,000 crore, a company statement said on Tuesday. "As trailblazers in Light and Sustainable construction, we are well poised to provide building

Jindal Advanced Materials commits Rs 1,000 cr investment in Tamil Nadu

Composite materials manufacturer Jindal Advanced Materials has pledged an investment of about Rs 1,000 crore to set up a plant in Tamil Nadu, its first in south India. As part of the Memorandum of Understanding (MoU) with the state government, it will set up a manufacturing plant over an area of 250 acres, the company said in a statement on Tuesday. Jindal Advanced Materials has signed an MoU with the Tamil Nadu government to set up a new manufacturing plant at a strategic investment of nearly Rs 1,000 crore, the statement said, adding that the investment will be spread across seven years. The project, which will come up in Trichy, is the company's first manufacturing facility in south India and is expected to generate up to 3,000 job opportunities, it said. "This MoU is instrumental in elevating our customer service experience in the South. Tamil Nadu's robust infrastructure, Trichy's proximity to the port for enhanced trade opportunities, and the existing ecosystem in infrastruct

Bharat Forge to invest Rs 1,000 cr in Tamil Nadu to enhance production

Auto components major Bharat Forge on Tuesday said it has inked an MoU with the Tamil Nadu government to invest Rs 1,000 crore over a period of five years to expand manufacturing footprint in the state. The company has entered into a memorandum of understanding (MoU) with Guidance, the nodal agency of the state government as part of the Tamil Nadu Global Investors Meet 2024, it said in a regulatory filing. The MoU is non binding and at present does not have a material impact on operations of the company, it added. Bharat Forge shares were trading 1.09 per cent up at Rs 1,271.10 apiece on BSE.

Plans afoot to develop Noida-like industrial city in UP's Bundelkhand

Rs 8,000 cr earmarked for land acquisition, 35,000 acres to be acquired in the first phase

Dutch cos to sign 3.6 bn euros worth investment proposals at Gujarat summit

Dutch firms will sign agreements proposing an investment of 3.6 billion euros in the country at the Vibrant Gujarat Global Summit starting this week, an official said. The summit will be held from January 10-12 in Gandhinagar. This is the fourth time the Netherlands is joining the summit as a partner country, according to Amlan Bora, Chief Representative for India at the Netherlands Business Support Office (NBSO). "This time, 45 companies are joining the Dutch delegation and our total delegation size will be 158 people. Several MoUs will be signed by Dutch companies with multiple ministries and private sectors. "Through this summit platform, we are proposing an investment of 3.6 billion euros in multiple sectors across the country, including in Gujarat," Bora told reporters here. Ambassador of the Netherlands to India Marisa Gerards will head the trade delegation comprising 45 Dutch companies that represent a variety of industries, including agriculture and food processing, mariti

Welspun One inks pact with Tamil Nadu govt, proposes Rs 2,000 cr investment

Welspun One on Monday said it has inked an initial pact with the Tamil Nadu government for a proposed Rs 2,000-crore investment in the state over the next five years. This comes on the back of a similar initial pact for Rs 2,500 crore investment proposal signed with the state government in 2021. The second pact signed at the Tamil Nadu Global Investors' Meet 2024, outlines Welspun One's commitment to drive the proposed development of industrial and logistics parks with an estimated investment outlay of Rs 2,000 crore over the next five years, Welspun One said in a statement. This initiative is expected to generate direct employment opportunities for 5,000 people and contribute to the development of ancillary industries, creating indirect employment opportunities for 10,000 people, it added. "Welspun One's ongoing commitment to invest in Tamil Nadu reflects a collaborative spirit and a common resolve to meet all mutually agreed obligations, guided by the facilitation of Guidance, th

Amid market volatility, multi asset funds can fulfil long-term needs

Multi-asset funds invest in a variety of asset classes, such as equity, debt, gold, and real estate which help in risk diversification

SPIC Group pledges to invest Rs 1,900 crore in Tamil Nadu over next 2 years

SPIC is earmarking Rs 970 crore to revamp the existing urea plant, augment capacity, and establish a 150 MTPD (metric tones per day) green ammonia plant

Hyundai Motor announces Rs 6,180 cr investment plans in Tamil Nadu

Aligned with the Hyundai Hydrogen Vision, the goal is to help foster a worldwide Hydrogen Society by making hydrogen readily used for everyone, everything, and everywhere

Mercedes Benz lines up Rs 200 cr investment, will launch over 12 products

German luxury carmaker Mercedes-Benz will invest Rs 200 crore in India this year on new products, manufacturing operations and digitisation, to strengthen its position after posting record sales of 17,408 units in 2023, a top company official said on Monday. Mercedes-Benz India will have more than 12 launches in 2024, including three electric vehicles, out of which half will be in the top end vehicle segment (TEV) and will be priced Rs 1.5 crore onwards. "This year marks a special year as we celebrate 30 years of Mercedes Benz in India. We are going to invest Rs 200 crore more into our factory in Pune. This takes a total investment of Rs 3,000 crore in India now. So that's a strong statement of intent," Mercedes-Benz India Managing Director & CEO Santosh Iyer told PTI in an interview. These investments will be towards manufacturing operations, new product startups and digitisation of the manufacturing process, he added. In 2023, Iyer said, the company recorded its best-ever year ..

Now that we've built size, we'll focus on profitable growth: Upstox CEO

Not all new players, Kumar says, will be able to scale up profitably, and there will always be an opportunity for consolidation in the industry

Incubators give warmth to startups in India amid a funding winter

India has the second-largest network of startup incubators and accelerators with 718 such firms

VinFast to set up its first EV manufacturing unit worth $500 mn in India

Construction on the project's EV and battery manufacturing plants is expected to start this year and generate 3,000 to 3,500 jobs locally, the statement said

'Vibrant Gujarat summits helped state get $55 bn FDI in two decades'

The biennial Vibrant Gujarat Global Summit, being organised by the Gujarat government since 2003, coupled with years of carefully-planned strategies and thoughtful implementation has helped the state garner a cumulative foreign direct investment (FDI) of USD 55 billion between 2002 and 2022, officials said. The Vibrant Gujarat Global Summit (VGGS) has grown in tandem with the state economy, and since its humble beginning, it has proved to be a gateway for foreign investment in the state, industry leaders said. The 10th edition of the VGGS, based on the 'Gateway to the Future' theme, will be organised in Gandhinagar from January 10 to 12. Addressing a Vibrant Gujarat roadshow in Hyderabad last month, state's Minister of State for Micro, Small and Medium Industries Jagdish Vishwakarma said a testimony to Gujarat's FDI-friendly policies is the fact that many Fortune 500 companies have invested in the state. "Gujarat contributes 8.3 per cent, approximately USD 282 Billion, to India's .

Govt capex leads investment growth, 'skewed consumption' a concern

Sunil Kumar Sinha, principal economist, India Ratings says that a robust growth in GFCF reflects the sustained focus of the government on capital expenditure

Modi Group plans Rs 6,000 crore investment in the next five years

Modi Group, formerly known as BK Modi Group, is planning to invest Rs 6,000 crore in the next five years in two real estate projects, its founder Bhupendra Modi said on Friday. Modi Group will invest Rs 4,000 crore to develop a health city in Saket, Delhi, he said. Besides, the group has also committed to invest Rs 2,000 crore in city development projects at Modipur in Rampur District of Uttar Pradesh. "In the Saket project, it would be a city and hospital and other projects, and at Modipur, we would have city development, where we would build an entire city. Then we have some more place to invest in," Modi said on the sidelines of an event. The group is also investing Rs 2,000 crore outside the country, Modi said, declining to share any information about that. "This would be a total of Rs 8,000 crore, which is around USD one billion," he said, adding that the group has also a presence and business interests outside India. When asked about the funding, he said it would be a mix o