Softbank group

By DK Aggarwal The Indian tourism sector is expected to see strong growth on the back of government initiatives to promote India in the international arena, especially with the ‘Make in India’ imitative. Latest data released by the ministry of tourism showed foreign tourist arrivals (FTA) have begun to see double-digit growth, especially at a time when the world economy is in the shambles and the business climate remains rather dull. Foreign tourist arrivals (FTAs) grew 17.1 per cent in July over the corresponding period last year, while it has grown 10 per cent this calendar year compared with 4.6 per cent growth between January and July 2015. This buoyancy reflecting in tourism sector stocks as well. Starting from April 1, the combined growth in market capitalisation of four major hotel companies that include Indian Hotels, EIH, Mahindra Holiday and Taj GVK have risen about 20 per cent compared with about 14 per cent growth in the benchmark Nifty50 index. Such a … [Read more...] about Namaste India! Hospitality stocks get a boost from government tourism push & 100% FDI

New Delhi: The Centre has changed the composition of the group of ministers (GoM) on integrated goods and service tax (IGST) after finance minister decided to opt out of the ministerial panel headed by her. Deputy Chief Minister of Bihar, Sushil Modi has now been made chairperson of the GoM that is expected to deliberate and suggest measures for increasing the GST revenue. Sources in GST Council said that the said changes has been made as finance minister Nirmala Sitharaman is also chairperson of the Council, which is expected to receive report from GoM and take further action. So, this would have created a situation where the person finalising the recommendation is also to take further action on it. "Inadvertently, Union Finance Minister was mentioned as Chairman of the GoM. Since Union Finance Minister who is also the Chairperson of the GST Council could not have headed the GoM as its report is required to be submitted to the Chairperson of the Council. In view of the above, a … [Read more...] about Sitharaman Opts Out Of Group Of Members On IGST, Sushil Modi Made Chairman

BENGALURU: Piramal Group and IIFL Wealth Management has floated co-investment Alternative Investment Fund (AIF) platform to fund select advance stage and last-mile real estate projects across Tier 1 cities in India. The proposed AIF will have a target size of Rs 2,000 crores, will be used to provide much needed capital to tier 1 builders across select markets. Khushru Jijina, Managing Director, Piramal Capital & Housing Finance Ltd said, “The creation of this AIF is in line with Piramal Group’s strategy to build newer platforms for co-lending with liked-minded reputed institutions. We will initially seed the fund with existing loans from Piramal Group’s portfolio, while continuing to explore quality deals from the market in future.” With this, Piramal will also be facilitating external capital (on a fund or co-investment basis) alongside its lending business. This will enable Piramal Group to continue to further grow the lending business through a new … [Read more...] about Piramal Group, IIFL Wealth Management create Rs 2,000 cr fund for realty projects

In a move to boost its foray into the data centre domain, Adani Group has announced that it is partnering with San Francisco-based Digital Realty, a leading global provider of data centre, co-location and interconnection solutions.The Gujarat-based $13-billion integrated business conglomerate is setting up a mega piece of data centre infrastructure in Hyderabad in Telangana.As per the Memorandum of Understanding signed between Adani Enterprises Ltd. and Digital Realty, both firms will jointly evaluate developing and operating data centres, data centre parks and cultivating undersea cable provider communities of interest across India.“Data centre infrastructure is critical to enable a Digital India and this partnership leverages several of the capabilities developed by the Adani Group in power generation, transmission, retail electricity distribution, access to waterfronts through the ports business, and real estate management,” Gautam Adani, chairman of the Adani Group, … [Read more...] about Adani, U.S. group to set up data centres in India

Adani Green Energy Limited (AGEL) has signed an agreement with Essel Group firms, Essel Green Energy Private Ltd. and Essel Infraprojects Ltd., to buy 205 MW of operating solar assets at an enterprise value of ₹1,300 crore. The deal includes 10 operating solar PV companies with a combined capacity of 205 MW spread across Punjab, Karnataka and Uttar Pradesh. The companies have long-term power purchase agreements (PPAs) with various State electricity distribution companies. Jayant Parimal, CEO, AGEL, said: “This is our first brownfield acquisition of operating assets. It expands our footprint in States where we already have presence, and with our strong operational expertise, will deliver significant value to our shareholders.”In a statement, an Essel Group spokesperson said, “Our asset divestment process is well within the purview of the agreed timelines with our esteemed lenders. The sale of the group’s solar assets to AGEL is yet another positive step … [Read more...] about Adani Green Energy to buy Essel Group’s 205 MW of solar assets