Page 7 - Investments

Karnataka committed to get investments, become innovation hub: Siddaramaiah

Information technology sector is cornerstone of state's economy, says Chief Minister

Power Grid Corp board okays Rs 367 cr investment in transmission projects

State-owned Power Grid Corp board on Wednesday approved a proposal to invest about Rs 367 crore in electricity transmission projects. Committee of Directors on Investment on Projects' of Powergrid in its meeting held on November 22, 2023, has accorded investment approval for two projects, a BSE filing showed. As per the filing, the first project which got the approval is an augmentation of transformation capacity by 1X1500 MVA (3rd), 765/400 KV ICT at Maheshwaram (PG) substation in Telangana at an estimated cost of Rs 142.69 crore. It is scheduled to be commissioned within 21 months from the date of intimation by CTUIL (Central Transmission Utility) letter on July 10, 2023 -- by April 9, 2025. The board also approved the transmission System for Evacuation of Power from the Potential RE Zone in the Khavda Area of Gujarat under phase IV (7GW)- Part E4 at an estimated cost of Rs 224.41 crore, scheduled to be commissioned within 24 months from the date of intimation by CTUIL letter on

Thematic mutual funds gain popularity; attract Rs 14,000 crore in 5 months

Thematic mutual funds have been gaining traction among investors with the category attracting nearly Rs 14,000 crore in the past five months, signalling an increasing high-risk appetite among investors. The category has been attracting regular inflows since June. Before that, the segment saw a net withdrawal of Rs 169 crore in May, the latest data from the Association of Mutual Funds in India (Amfi) showed. Sectoral fund investing is for very high-risk appetite investors as the portfolio is concentrated in a particular sector. Only a well-informed investor should park funds in the sectoral funds. "With an increased risk appetite for equities and awareness of products and offerings, retail investors opt for higher-risk products like thematic or sectoral funds compared to other products, Gopal Kavalireddi, VP - Research, FYERS, said. Going by the Amfi data, thematic funds witnessed an inflow of Rs 3,896 crore in October, which was the second-highest amount in the equity category afte

Net inflows in equity schemes rebounded to Rs 20K crore in October

The net inflows were also supported by the surge in investments coming through the systematic investment plan (SIP) route

GIC collaborates with Vedanta's Sterlite Transmission for $1 bn venture

GIC will put up $500 million in the infrastructure business for a 49 per cent stake. This investment will depend on Sterlite Power winning project tenders

India not planning curbs on imports or investments from Canada: Reports

Ties between New Delhi and Ottawa deteriorated sharply after Prime Minister Justin Trudeau said in September his intelligence agencies were pursuing credible allegations

India to spend Rs 143 trillion in infrastructure by 2030, says Crisil

Green investments will also see a five-fold rise from the past seven years to Rs 36.6 trillion

Problem of plenty for Indian companies as cash pile keeps growing

New investments haven't kept pace with money flowing in from operations

Joyalukkas to open 40 new showrooms in India, abroad in next 2 years

Leading jewellery firm Joyalukkas India Pvt Ltd plans to invest about Rs 2,400 crore in the next two financial years to open 30 new showrooms in India and ten outlets abroad, according to Chairman and Managing Director Joy Alukkas. The company is also preparing for an IPO (initial public offering) for further expansion of its business, he said. Currently, Joyalukkas has 100 showrooms in India and 60 outlets in ten countries. "We have plans to expand our operations both in India and abroad. We are targeting to open 30 new showrooms in India, while ten outside India in the next two financial years 2024-25 and 2025-26," Joy Alukkas told PTI in an interview. Alukkas said the company will invest on an average about Rs 60 crore on each showroom. "The total investment for opening 40 showrooms will be Rs 2,400 crore," he said. Around 30 showrooms will be opened mostly in north India, while ten of them in other countries including Canada and Australia. The investments will be made from .

RE India Expo to bring investments worth Rs 1,500 cr in biogas segment: IBA

Industry body Indian Biogas Association (IBA) expects around Rs 1,500 crore investment announcement in the biogas segment during 3-day long Renewable Energy India Expo 2023, beginning on Tuesday. The IBA comprises operators, manufacturers, and planners of biogas plants. "Renewable Energy India Expo 2023 (REI) will bring an opportunity worth Rs 1,500 crore. The participation is expected to increase by 25 per cent from last year," an IBA statement said. According to the statement, major Indian conglomerates like Reliance Industries and Adani Solar will be part of the REI. The Ministry of New and Renewable Energy and National Institute of Bio Energy is supporting the biogas pavilion. The REI is scheduled to be held from October 4 to 6, 2023 at the India Expo Centre, Greater Noida, Uttar Pradesh. The expo is one of the largest trade expositions and events, focusing on renewable energy (bio-energy, solar, and wind) and energy efficient technologies including electric vehicles and bat

As many as 412 infra projects show cost overruns of Rs 4.77 trn in August

As many as 412 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in August this year, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,762 projects, 412 reported cost overruns and as many as 830 projects were delayed. "The total original cost of implementation of the 1,762 projects was Rs 25,01,400.62 crore and their anticipated completion cost is likely to be Rs 29,78,681.31 crore, which reflects overall cost overruns of Rs 4,77,280.69 crore (19.08 per cent of original cost)," the ministry's latest report for August 2023 said. According to the report, the expenditure incurred on these projects till August 2023, is Rs 15,57,188.10 crore, which is 52.28 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased to 6

Tamil Nadu govt conducts roadshow for global investors meet in Delhi

Tamil Nadu has been adopting a multi-pronged approach of wooing capital-intensive investment projects as well as employment-intensive projects, which will have a direct impact on economy

Policy predictability for EV adoption needed to make investments: Ather

Policy predictability is needed to make investment plans for accelerating electric mobility in the two-wheeler segment, according to electric two-wheeler maker Ather Energy Chief Business Officer Ravneet S Phokela. The company, in which Hero MotoCorp is a significant investor, expects 100 per cent electrification of the domestic two-wheeler market by 2030 even as it prepares to start exports to an India-like market in the near future. With the FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme coming to an end in March next year, Phokela said Ather is happy with the government support and the current levels of subsidy but hoped that it would be extended for another three to five years for acceleration of EV adoption. "Two requirements, extend the period of time and importantly, let there be policy predictability," he told PTI when asked about the company's wishlist for FAME III. He further said,"Unpredictability is not good for business because my busin

Uttarakhand to seek Rs 2.5 trn in investments at Dec business summit

Dhami said that at present a land bank of about 6000 acres is available in Uttarakhand for setting up industries in various sectors

Corporate capital expenditure fell two quarters in a row, says report

A slowdown in fresh investments has resulted in a steady decline in the contribution of the corporate sector to overall capex and its share in GPD

RBI issues revised classification, guidelines for banks' investments

The Reserve Bank of India on Tuesday issued revised classification, valuation and operation guidelines for the investment portfolio of commercial banks, which will be effective from April 1, 2024

Nigerian Ministers call for higher investments, closer ties with India

Nigerian President Bola Ahmed Tinubu discussed potential incentives for Indian industrialists at business roundtable

NE underwent transformation to become investment destination: MoS IT

The northeastern region has undergone a "dramatic transformation" to become a competitive destination for investments, Union minister Rajeev Chandrasekhar said here. The Union Minister of State for IT, Skill Development and Entrepreneurship, in an interview with PTI on Friday, said that connectivity was an issue in the region but that has completely changed. Now, one can quickly reach any state capital in the Northeast from any other part of the country, creating a big transformation in terms of potential opportunities for the region, he said. ''Connectivity was holding back the growth of business, technology and infrastructure in the region but during the last nine years, physical and technological connectivity were addressed and now the next step is to ensure economic expansion and to grow the GSDPs to double digits as the combined GSDPs of all the northeastern states is only about 8 per cent of the country's GDP," he said. The next stage of economic growth is the creation of job

Art, watches & luxury handbags to see the highest interest from ultra-rich

According to a report by Knight Frank, 53 per cent of ultra-high-net-worth Indians are likely to purchase these three items in the current year

Investment firm attempts to sell assured return product to Sebi official

Capital markets regulator Sebi has imposed a penalty of Rs 12 lakh on investment adviser Investment Visor for promising assured returns, making misleading claims on its website and mis-selling to clients. Praveen Verma is the proprietor of Investment Visor. Incidentally, one of the employees of Investment Visor called up a Sebi official in the Indore Local Office and offered assured profit or return, the markets regulator said in its order passed on Monday. During the call, the employee was informed that the daily average return being delivered or given by the calls of Investment Visor on the invested amount of the clients is around 20 per cent to 30 per cent, the order mentioned. Moreover, the employee informed the official that risk profiling of the client is being done by Sebi-Mumbai. Apart from these, other violations by Investment Visor include failure to resolve complaints received on SEBI Complaints Redress System (SCORES); collection of GST from clients even after cancella