File image of Mukesh Ambani with Gautam Adani (Image: PTI) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Reliance Industries Ltd and Adani New Industries Ltd plan to set up two compressed biogas (CBG) plants each, The Economic Times reported. Led by billionaires Mukesh Ambani and Gautam Adani, RIL and ANIL plan to enter the segment by investing Rs 500-600 crore each to set up the plants, a senior oil marketing firm executive told the publication. The report citing sources said that while ANIL plans to set up 40 million tonne per annum (mtpa) plants in Uttar Pradesh and Gujarat, RIL is still deciding on unit capacities and locations. Moneycontrol could not independently verify the report. The companies plan to sell CBG and compressed natural gas (CNG) as auto fuel from their retail outlets and “inject CBG in our city gas … [Read more...] about Reliance and Adani plot biogas foray with investment plans to set up production units
Share to Twitter Share to Linkedin When Bill Gates announced last month that he was donating $20 billion to the Bill & Melinda Gates Foundation–part of a move to step up the giving by the philanthropic group–he didn’t share any details about which assets he was giving up. Forbes found that, according to a recent filing with the Securities and Exchange Commission, a significant chunk of his gift was a transfer in late July of about 44.5 million shares of Canadian National Railway–worth nearly $5.2 billion. That leaves Bill Gates with a 1.4% stake in the company, worth $1.2 billion as of Tuesday’s market close. Gates’ Cascade investment firm had already been trimming its stake in the Canadian railway company. Last year he shifted part of his holding to Melinda French Gates as part of their divorce settlement. In March and April this year, Gates sold about $940 million worth of Canadian National Railway stock, as first reported by Bloomberg. In … [Read more...] about Bill Gates Transferred Billions Of Dollars’ Worth Of These Two Stocks To The Gates Foundation
Angshu Mallick, CEO, Adani Wilmar poses with the company's Fortune range of products. The imposition of a 5 percent goods and services tax (GST) on pre-packed labelled food items may have fanned fears of higher inflation but Adani Wilmar CEO and MD Angshu Mallick thinks the move bodes well for FMCG companies. The GST Council in July agreed on a 5 percent tax on single packages of food items like cereals, pulses, flour and paneer weighing up to 25 kg. “Over the last few years, the regulation under which branded players had to pay 5 percent GST while unbranded players were exempt created a lot of confusion. 5 percent is a significant amount when we are talking about packaged rice which is being sold at Rs 30 or even wheat flour,” the CEO told Moneycontrol on the sidelines of first-quarter results. According to Mallick, the move would create a level-playing field between the branded and unbranded players and propel consumers towards branded products in packaged staples. … [Read more...] about GST on unbranded food will create level-playing field for FMCG companies: Angshu Mallick of Adani Wilmar
After making a bottom in June, the mood of the market has significantly changed in the last month and a half, and pushed the benchmark indices to a more than three-month high. A rally of about 14 percent in the market may indicate that the concerns of the past few months seem to have abated. A slowing US economy got the Federal Reserve to soften its commentary at its July policy meeting, and global markets heaved a sigh of relief. In India, foreign institutional investors (FIIs) turned buyers after a long period of selling, with most corporate earnings either meeting analysts’ expectations or beating them, even as the Indian rupee came off its record lows and oil prices cooled, all of which gave legs to the rally. After crossing the 200-day exponential moving average (16,520), the market moved back for a couple of days but got major strength on July 27 with the formation of a Bullish Engulfing pattern. Since then it has been in an uptrend and crossed the much awaited 200-day … [Read more...] about More than 40% stocks in NSE500 back above 200 DMA now. Is the market turning stronger?