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January

News Delivery in INDIA made easy

Keynotes on most recent business, finance, and market news from India, compiled in one place.

JAN 21	Adani Group of India intends to demerge additional businesses...

Adani Group of India intends to demerge additional businesses and rejects debt concerns

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• India's Adani Group, founded by billionaire Gautam Adani, has stated that it intends to spin off more firms by 2028 and rejects any financial concerns.
• According to Jugeshinder Singh, the corporate house intends to sell off or demerge its metals, mining, data centre, airports, highways, and logistics sectors.
• The goal is for these companies to have a basic investment profile and experienced management by 2025-28, when we want to demerge them.
• In recent years, the Adani group has sold out its electricity, coal, transmission, and green energy businesses.
• According to the prospectus, the business is giving a discount of 8.5%-13% to entice individual investors.
• It has stated that the funds would be used to build green hydrogen projects, airport facilities, and Greenfield motorways, in addition to debt reduction.
• Analysts have raised concerns over its debt accumulation which were dismissed by Singh. Adani Group’s total gross debt in the financial year ending March 31, 2022 rose 40% to 2.2 trillion rupees. CreditSights, part of the Fitch Group, described the Adani Group in September 2022, as “overleveraged” and said it had “concerns” over its debt.

JAN 19	Maruti Suzuki's Grand Vitara exports began

Maruti Suzuki's Grand Vitara exports began, with the first cargo bound for Latin America

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• Maruti Suzuki India said on Thursday that it has begun exporting its Grand Vitara SUV, with the first consignment its route to Latin America from the Kamarajar port.

JAN 19	Maruti Suzuki's Grand Vitara exports began

Maruti Suzuki's Grand Vitara exports began, with the first cargo bound for Latin America

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• Maruti Suzuki India said on Thursday that it has begun exporting its Grand Vitara SUV, with the first consignment its route to Latin America from the Kamarajar port.