1000 CRORE MARK
Gautam Adani family wealth surges 95% in 1 year to Rs 11.6 lakh crore: Hurun Rich List
Despite negative publicity from the Hindenburg report, Gautam Adani’s family wealth surged by 95% to Rs 11.6 lakh crore over the past year, adding Rs 5,65,503 crore, according to the 2024 Hurun India Rich List. As a self-made entrepreneur, Adani achieved the highest wealth growth among the top 10 over the past five years, increasing his net worth by Rs 10,21,600 crore despite the Hindenburg crisis.
This Ashish Kacholia portfolio stock rallies over 1,000% in 2 years. Should you ride the rally?
Shares of Balu Forge Industries, backed by investor Ashish Kacholia, have surged over 1300% in the last two years, driven by strong profit growth. The stock, which manufactures crankshafts and forged components, saw profit booking on Monday, falling by 1.5%. Experts suggest monitoring the Rs 740 and Rs 800 levels for future price action.
Sex ratio to improve to 952 women per 1,000 men by 2036: Govt Study
India's sex ratio is projected to increase to 952 women per 1000 men by 2036, indicating a positive trend in gender equality. The population is expected to reach 152.2 crore by 2036, with a slightly improved female percentage of 48.8% compared to 48.5% in 2011. The proportion of individuals under 15 years is projected to decrease from 2011 to 2036, while the proportion of the population aged 60 years and above is anticipated to substantially increase.
Wealth management startup Neo Group secures Rs 400 crore from MUFG Bank, Euclidean Capital
The Peak XV Partners-backed firm is building a wealth management platform focused on the premium segment of Indian consumers. The funds will be used to expand Neo's wealth management division and support its asset management business. The company is also creating a platform for a consolidated portfolio reporting across products, asset classes and instruments.
TN CM launches Rs 1,000 monthly assistance scheme for boys
Tamil Nadu's Chief Minister, M K Stalin, launched the 'Tamizh Pudhalvan' scheme, providing Rs 1,000 monthly to boys from government and state-aided schools for their higher studies. This scheme, with a budget of Rs 360 crore, aims to support 3.28 lakh students, supplementing other existing welfare programs like fare-free travel and the women's right scheme.
Stock Radar: 30% rally in 3 months! A pharma stock with a market cap of over Rs 86,000 crore hits record high in August
Aurobindo Pharma Ltd has surged about 30% over the past 3 months, hitting a new record high. The momentum continued into August. Experts recommend short- to medium-term traders consider buying the stock with a target of Rs 1,580 in the next 3-4 weeks. The stock rose from Rs 1,124 on May 7, 2023, to Rs 1,465 on August 7, 2024, reflecting a 30% gain in just 3 months.
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Adani-owned Ambuja Cement announces Rs 1600 crore project in Bihar
Adani Cement revealed plans for a new cement grinding unit in Warisaliganj, Bihar, with an investment of ₹1,600 crore. The 6 million tonnes per annum facility is expected to enhance production capacity, boost local employment, and meet the state's infrastructure demands, while aligning with the company's sustainable development goals.
Budget gives Rs 1,000 crore boost to space sector. What’s the road ahead?
The Indian space sector has immense economic potential, likely to be worth Rs 35,200 crore, about 8% of the global share by 2033. On 23 July, the Finance Minister announced the creation of a dedicated “space fund” worth Rs 1,000 crore, aiming to boost India’s space economy, attract investment and in the global space industry.
PVR Inox Q1 Results: Consolidated loss widens to Rs 179 crore, revenue drops 9% YoY
PVR Inox reported a net loss of Rs 179 crore for June 2024 quarter, down from Rs 82 crore in the same quarter of the previous year, with revenue at Rs 1,191 crore and an EBITDA loss of Rs 19.90 crore. Patron count was 3.04 crore with a average ticket price of Rs 235 and Rs 134 F&B spend per head. Elections were said to have caused a 13% drop in releases.
GoMechanic achieves operational profit in April-June; FY24 revenue hits Rs 210 crore
GoMechanic, acquired by Servizzy in March 2023, achieved profitability by June 2024. Led by Himanshu Arora and Muskan Kakkar, it reported Rs 210 crore annual revenue and Rs 11.2 crore from accessories. The company introduced luxury, EV, and extended warranty programs and aims to expand to 1,000 cities by 2027, currently servicing 30,000 cars monthly.
Purplle’s Rs 1,000 crore funding; FirstCry, Unicommerce IPOs cleared
Omnichannel beauty platform Purplle has closed a Rs 1,000 crore funding round. This and more in today’s ETtech Top 5.
Oyo gets shareholder nod to raise Rs 417 crore via preference shares
Moody’s projects Oyo's EBITDA to reach $125 million in FY 2024-2025, inclusive of ESOP expenses. This outlook underscores the company's commitment to cost control and expected business expansion.
Oyo finalises Rs 1,000 crore fundraise from Indian family offices
Oyo fundraise: Hospitality startup Oyo is raising around Rs 1,000 crore from family offices and investors. The fundraise aims to value Oyo at about $2.5 billion, marking a significant decrease from its peak valuation of $9 billion in 2021. Oyo is slated to hold an extraordinary general meeting (EGM) on Tuesday to approve the fundraise.
Pulse’s DSFL crosses Rs 1,000 crore mark, aims for Rs 5,000 crore in next 5 years
DS Group's confectionary arm, Dharampal Satyapal Foods Ltd. (DSFL), reported a sales turnover of over Rs 1,000 crore in FY24. The division has achieved a compound annual growth rate (CAGR) of over 20% over the past three years, outpacing the industry's 9% growth. Vice chairman Rajiv Kumar credits this success to strategic indigenization, an expanded product portfolio, and a vast distribution network. DSFL aims for a sales turnover of Rs 5,000 crore in the next five years, with a CAGR of about 30%, by growing both organically and through acquisitions.
Zerodha Nifty 1D Rate Liquid ETF crosses Rs 1,000 crore AUM
Apart from the Liquid ETF, the fund house manages three schemes - Zerodha Nifty LargeMidcap 250 Index Fund, Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund and Zerodha Gold ETF.
Investor wealth eroded by Rs 7.3 lakh crore as Sensex crashes 1,000 points. Here are key factors behind the mayhem
The market capitalisation of BSE-listed companies slipped below the Rs 400 lakh crore mark to Rs 393.73 lakh crore. Q4 earnings and election uncertainty have dented the Street sentiments. The volatility index India VIX also spiked 6.5% to 18.20 levels, gaining for an eleventh straight session.
Godrej Electricals & Electronics secures orders worth over Rs 1,000 cr in FY'24
"We are delighted with our recent order acquisitions, which further solidify our presence in the segment of over 400kV," Raghavendra Mirji, Executive Vice President & Business Head, Godrej Electricals & Electronics said.
Sensex wins 1000-pt marathon in just a month, scales 75000-mark; what’s the next target?
Domestic equity bulls drove a 1000-point rally in S&P BSE Sensex, surpassing 75,000. Nifty50 hit a new high. Market sentiment buoyed by various factors. Future direction may hinge on earnings performance.
Grasim's Birla Pivot crosses Rs 1,000 cr revenue mark in 1st year of ops, aims to cross $1 bn in next 3 years
Birla Pivot, by Aditya Birla Group, achieves Rs. 1,000 crore revenue within a year, serving diverse customers with a wide product range. It aims to tackle industry challenges and hit $1 billion revenue in 3 years.
More Indians scale Mt Rs 1,000 cr as Chinese slip, Europeans lag
According to the Hurun India Rich List 2023, there are 1,319 individuals with wealth over Rs 1,000 crore in the country, marking an increase of 216 individuals and 278 new entrants. This is the first time the list has surpassed the 1,300 mark, recording a 76% increase over the last five years.
Stone Sapphire India to invest Rs 1,000 crore in homewares plant in Baroda
Toys and stationery manufacturer Stone Sapphire India will invest Rs 1,000 crore to set up a manufacturing facility for homewares in Baroda. The plant will manufacture small kitchen appliances, metal cookware, and drinkware.
SME IPO market on fire! 30 companies raise over Rs 1,000 crore in just 2 months
In the first two months of 2024, the SME IPO segment has shown remarkable growth and investor enthusiasm, with 30 IPOs raising Rs. 1024 crore. The average ticket size has increased by approximately 30%. 17 companies had significant participation from QIBs, and Maxposure Limited had an oversubscription of over 1000 times, attracting primary market participation.
Union Minister Sarbananda Sonowal launches major projects for development of waterways, unveils projects worth Rs 308 crores for North East India
Sonowal inaugurated Passenger-cum-Cargo terminal at Bogibeel near Dibrugarh, Inland Water Transport Terminal at Sonamura in Tripura and upgraded terminals at Karimganj & Badarpur in Assam. This terminal will play a pivotal role in rejuvenating IWT in the region for both cargo and passenger movement, paving the way for growth of trade & commerce.
LIC shares jump 9% to cross Rs 1,000-mark for first time
shares of Life Insurance Corporation of India (LIC) have jumped over 10% in the last week and 66% in the last 3 months. With its market capitalisation well above the Rs 6 lakh crore mark, the stock is India's most valued PSU by beating SBI. The latest round of buying the heavyweight counter comes after brokerages upgraded the counter with buy calls.
Why Telangana and Tamil Nadu are fighting over a Rs 1,000 crore American gorilla
Corning's Gorilla glass venture in India advances with a 1,003 crore project in Tamil Nadu, creating 840 jobs. BIG TECH, a collaboration with Optiemus Infracon, paves the way for smartphone and laptop cover glass manufacturing. Telangana, initially in the running, remains in talks with Corning. Despite challenges, the commitment to retaining investment showcases a dynamic landscape for the technology sector's growth.
Sensex crashes over 1,000 points: 6 reasons behind the Rs 8 lakh crore selloff
India's stock market, represented by the Sensex and Nifty, experienced a significant fall after reaching a milestone as the fourth largest stock market in the world. The Sensex dropped by over 1,000 points, while the Nifty declined by 1.5%. This sell-off was more pronounced in the mid and smallcap indices, which slipped by around 3%. Investors on Dalal Street lost approximately Rs 8 lakh crore in market capitalization. The decline was led by banks, oil and gas stocks, FMCG, and metals, while pharma stocks saw some buying. HDFC Bank and RIL were major contributors to the market loss.
Mahindra World City, Chennai signs MoU with Government of Tamil Nadu, to invest over Rs 1,000 Crores
Mahindra World City Developers Limited (MWCDL) has inked a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to invest over Rs 1,000 crore in the next five years. This investment, centered around the launch of Origins by Mahindra – Phase II at Eliambedu village in Chennai, is expected to create employment opportunities for more than 2,000 people in the state.
Apple supplier Corning to build a Rs 1,000 crore facility in TN; Zomato to enter catering biz
American gorilla glass maker Corning is setting up a manufacturing unit in Tamil Nadu with an investment of Rs 1,000 crore, we have learnt. This and more in today’s ETtech Morning Dispatch.
US’ Corning to build Rs 1,000-crore gorilla glass facility in Tamil Nadu
This marks the formal entry of another Apple supplier into India, bolstering the expanding ecosystem of Apple as well as electronic component manufacturers in the country.
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