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Posted On:
26-03-2024

Adani group eyes 45 GW renewable energy capacity by 2030 via solar power

Billionaire Gautam Adani's group is building the world's largest renewable energy park in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from solar energy. Speaking at the opening of 'Energy Revolution: The Adani Green Energy Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said. n Khavda, which is in the state of Gujarat, we are building the world's largest renewable energy park. It will have a generation capacity of 30 GW of energy - and it is incredibly big. Its area of 538 square kilometers is more than five times bigger than Paris." This is part of the aim to reach 45 GW of renewable energy by 2030, said Adani, the chairman of the apples-to-airport conglomerate. "This will be like providing clean energy to almost every house in England," he said. It currently has an operating renewable portfolio of over 9.5 GW and locked-in projects of up to 21.8 Gigawatt (GW).
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Posted On:
26-03-2024

Tata powers Rekha Jhunjhunwala's portfolio in 2024; outperforms markets

A sharp run-up by up to 27 per cent in Tata Group stocks has helped Rekha Jhunjhunwala to outperform not only the market, but also portfolio returns of the other marquee investors such as Mukul Mahavir Agarwal, Ashish Dhawan, Ashish Kacholia, Vijay Kedia and Anil Kumar Goel & Seema Goel. Thus far in calendar year 2024 (CY24), Rekha Jhunjhunwala’s net worth increased by over 7 per cent, or Rs 2,865 crore, as compared to less than 1 per cent rise in the S&P BSE Sensex.
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Posted On:
26-03-2024

Dell reduces workforce as part of broader cost cuts, limits external hiring

Dell Technologies reduced its workforce as part of a broader initiative to cut costs that included limiting external hiring and employee reorganizations, it said in a filing on Monday. As of Feb. 2, 2024, it had nearly 120,000 employees, down from about 126,000 a year earlier. The layoffs come after sluggish demand for its personal computers for nearly two years partly contributed to a 11 per cent drop in revenue in fourth-quarter earnings posted last month. Dell expects net revenue in its client solutions group (CSG) - home to PCs - to grow for the entire year, it said on Monday. The segment's revenue had fallen 12 per cent in the fourth quarter. While Dell cautioned against near-term challenges, the company expects demand to improve and pricing environment to be more competitive in FY 2025. However, the company expects input costs to rise and added there is likely to be "continued reduction of our other businesses' net revenue as a result of the change in our commercial relationship with VMware". Dell bought back shares tied to its interest in software maker VMware, paving the way for it to return to the market in 2018. Chipmaker Broadcom closed its $69 billion acquisition of VMware last year.
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Posted On:
26-03-2024

Space World plans to connect data centres in 7 major cities in a year

The Space World group plans to connect all data centres in seven major cities with an optical fibre network in less than a year, founder and chairman Ankit Goel (right) told Business Standard. Space World subsidiary Constl, a fibre-based digital infrastructure provider, is rolling out the largest network of neutral, point-to-point optical fibre connections to the data centres. It has already connected 17 data centres in Delhi, and 14 in Chennai through 3-4 different paths, co-founder and director Radhey Sharma (left) said. The company provides specialised services such as data centre interconnectivity, private lines and dark fibres.
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Posted On:
26-03-2024

Axis Bank introduces digital opening of US dollar FDs for NRIs at GIFT City

Axis Bank on Tuesday announced the introduction of digital US dollar fixed deposit (FD) for NRI customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat. With this introduction, Axis Bank becomes the first bank to offer a digital journey for GIFT City Deposits, the bank said in a statement. NRI customers of the bank can now open US dollar fixed deposits at GIFT City through 'Open by Axis Bank'; the mobile banking application of the lender, it said. This offering simplifies the process of booking US dollar Fixed Deposit for NRI customers, by providing them an end-to-end digital paperless solution and eliminating the need for physical documentation, it said. Besides seamlessly opening an FD account anytime from anywhere, customers can also track and manage their FD digitally, it said. With attractive interest rates, Axis Bank provides NRIs with one of the best investment opportunities, it said. The US Dollar fixed deposit also offers a wide range of investment tenures from seven days up to ten years, it said, adding customers can also request partial or full premature closure of the FD from the Axis Bank mobile application.
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