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Adani Green Energy Shares Rise as Board Approves ₹12,300 Crore QIP Fundraising.

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Adani Green Energy y Ltd., the Adani Group’s subsidiary for renewable energy, said in a regulatory filing on 6 July that it would fund $12,300 crore by selling shares through a QIP, or qualified institutional placement, or other legal means.

Investors’ worries about the port-to-power business owned by billionaire Gautam Adani’s ability to pay its debt will probably be allayed by the funding. Additionally, it will assist in financing the conglomerate’s transition to a greener economy.

According to a Bloomberg story, Adani Green plans to offer shares through qualified institutional placement, or QIP, in order to increase the number of institutional investors and research analysts that cover the company

Adani Green Energy stated in a regulatory filing to the stock exchanges on July 6 that the “board approved raising funds by way of issuance of such number of equity shares of the company with a face value of 10 each (“equity shares”) and/or other eligible securities or any combination thereof (hereinafter referred to as “securities”), for an aggregate amount not exceeding 12,300 crore or an equivalent amount thereof through qualified institutional investors.”

”Subject to the receipt of the necessary approvals, including the approval of the members of the company and other regulatory / statutory approvals, as may be required,” it continued. ”And to seek approval of the shareholders for the aforesaid issuance and ancillary actions by way of postal ballot process.”

In an effort to recover from the crisis brought on by a critical report from US-based short seller Hindenburg Research, the Adani Group has already disclosed financing plans of up to 21,000 crore for two other businesses, Adani Enterprises and Adani Transmission.

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Adani Transmission would raise $8,500 billion, while Adani Enterprises claimed it will raise $12,5 billion. Adani Group has now refuted the claims of fraud made by Hindenburg Research, which were made in January. At one point, the report reduced the market worth of the corporation by more than $150 billion.

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The renewables industry in India has been one of the most profitable for foreign investors, ranking in the top five industries in the nation for foreign capital in 2016.

On July 6, Adani Green Energy shares rose 2% during trading and reached an intraday high of 973.25, before ending the day 0.8% higher at 956.30 per share on the BSE.

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TCS Witnesses First Net Headcount Drop in Two Decades

Tata Consultancy Services

TCS Witnesses First Net Headcount Drop in Two Decades

On Friday, Tata Consultancy Services (TCS) disclosed that during the fiscal year 2023–24 (FY24), the company’s headcount decreased by 13,249 people (year over year). The top provider of IT software has seen a decline in personnel for the first time in 19 years.

601,546 people worked for the company at the end of FY24, according to TCS’s stock exchange filing. The top IT software company has experienced a decline in staff for the first time in 19 years.

As per TCS’s stock exchange statement, the company had 601,546 workers at the end of FY24. In the fourth quarter (Q4) of FY 2024, TCS experienced a 1,759 workforce reduction (January to March).

The company’s headcount has decreased for the third straight quarter with this one. There were 5,680 fewer employees in Q2 than there were in Q1 (quarter over quarter), and the corporation saw a net decline of 6,333 workers.

At Rs 12,434 crore for the January-March quarter of FY24, TCS recorded a 9% increase in net profit over the same time the previous year, when it was Rs 11,392 crore.

Also Read: India Emerges as Global Leader in Web3 Adoption with Over 1,000 Startups: Report

“Our delivery centers are much more lively, and the morale of our associates has increased due to the reduced attrition at 12.5%, the positive response to our campus hiring, the increased customer visits, and the employees returning to the office,” chief HR officer Milind Lakkad said in a statement. To Rs 61,237 crore during the quarter, the company’s revenue climbed by 3.5 percent.

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India Emerges as Global Leader in Web3 Adoption with Over 1,000 Startups: Report

Web3

India Emerges as Global Leader in Web3 Adoption with Over 1,000 Startups: Report

According to recent research released on Tuesday, India now boasts one of the biggest Web3 ecosystems globally, home to over 35 million merchants and over 1,000 firms.

Globally, the percentage of Blockchain developers in the nation climbed from 3% in 2018 to 12% last year, the highest percentage among emerging nations, according to a report by Web3 venture capital firm Hashed Emergent.

Tak Lee, CEO and Managing Partner of Hashed Emergent, stated, “The findings underscore India’s remarkable ascent in Web3 adoption and show that it is on a trajectory to become the global leader.”

Lee continued, “We think the regulatory environment is slowly changing in the right direction, but more beneficial regulatory developments are needed to spur growth.”

Out of more than 150 nations, India topped the list for on-chain usage in the previous year.

The Head of Web3 at KPMG in India, Krishna Tyagi, claims that “blockchains have enabled various innovative use cases such as DeFi, tokenization of real-world assets, self-sovereign identities, track and trace, etc., which were not possible earlier.”

Also Read: Report: Over 51% of Indians Utilize Untranslatable Words and Phrases in Their Language

Startups in India are receiving more funding in the Web3 subsectors of infrastructure, entertainment, and finance.

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Report: Over 51% of Indians Utilize Untranslatable Words and Phrases in Their Language

Language

Report: Over 51% of Indians Utilize Untranslatable Words and Phrases in Their Language

According to research conducted on Monday, more than half of urban Indians (approximately 51%) utilize terms or phrases from particular regional languages to express affection or in clever or hilarious circumstances that are difficult to properly translate into English. The study by language learning app Duolingo is based on a poll that was conducted in association with YouGov to ascertain urban Indians’ opinions regarding language and expression.

The results showed that more than half (51%) of Indians frequently use unusual phrases (from other languages) in everyday speech. Regarding phrases or words that convey nuanced meanings that cannot be fully translated or expressed in English, roughly 68% of urban Indians acknowledged this. Similarly, 69% acknowledged that they have used language-specific phrases or words that cannot be fully translated into English to express emotions or feelings (such as happiness or sadness) or to have conversations with family and friends.

Furthermore, 51% admitted to utilizing these idioms to add wit and humor to their conversations or as terms of endearment or love language. Recently, the company celebrated this language diversity by asking users to go on a voyage of linguistic discoveries with the “#EnglishMeinNahiJamta” campaign, which was posted on Duolingo India’s Instagram page. Favorite words from their local languages that become less magical when translated into English were shared by users under the guidance of the lovable characters Duo and Lily.

Also Read: Reed Hastings: Netflix’s Success Strategy Includes Firing Employees with Adequate Performance

“At Duolingo, we understand that languages are more than just communication tools—they’re expressions of culture, emotion, and identity,” says Karandeep Singh Kapany, Regional Marketing Director. Our “#EnglishMeinNahiJamta” campaign, which highlights phrases that defy translation and demonstrate a growing appreciation for linguistic diversity, celebrates this beauty. We enable people to embrace expression, improve lives, and create international relationships through programs like this,” he continued.

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