Wednesday, September 02
The Indian conglomerate, led by billionaire Gautam Adani, is planning to invest as much as $5 billion in Google’s upcoming AI infrastructure hub in southern India, according to chief financial officer Jugeshinder Singh, showing the steady stream of investments pouring in the fast-growing data center business. The details of the investment are still being finalised, Singh told reporters at an event in Mumbai. Adani Enterprises last month announced a partnership with Alphabet, via AdaniConneX, to develop India’s largest AI data center campus at Visakhapatnam in Andhra Pradesh..The announcement mirrors the global trend where governments and large corporations are spending trillions in an unprecedented AI hardware arms race. Digital Connexion, a joint venture of Reliance Industries Ltd., s
Shares of as many as seven newly listed companies could see heightened activity in December as their shareholder lock-in periods expire. At current market prices, the value of stock eligible to trade post-expiry for these firms is estimated at nearly Rs 7,000 crore.Importantly, the end of a lock-in does not imply that all these shares will immediately be sold, only that they are now permitted to be traded. Here’s a look at the key companies set for an active month ahead.1.) Groww - The newly listed company, which rallied as much as 94% above its issue price, will see its shareholder lock-in ending on December 10, freeing up 14.92 crore shares or about 2% of the company’s total equity. The stock made its stock market debut on November 12, listing at a 14% premium over the issue price, N
