Billionaire Gautam Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors.

In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies."

Indian Oil Corp (IOC) would raise up to Rs 22,000 crore ($2.66 billion) through a rights issue of shares, the state-owned refiner said on Friday.

Last month, Reuters reported that the Indian government had kicked off its plan to fund energy transition projects of three big state refiners “IOC, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL)” in exchange for equity.

Andhra Pradesh Governor S Abdul Nazeer and Chief Minister Y S Jagan Mohan Reddy paid rich tributes to former CM Y S Rajasekhar Reddy on his 74th birth anniversary, which is observed as Rythu Dinotsavam' (Farmer's Day), on Saturday.

The Governor said Rajasekhar Reddy had endeared himself to the masses by introducing several pro-poor welfare schemes and made notable reforms in the agricultural sector.

The Central Bureau of Investigation (CBI) on Friday arrested three railway officials in connection with the triple train collision in Odisha last month that resulted in the death of nearly 300 people.

The central probe agency arrested Arun Kumar Mahanta, senior section engineer, Mohammad Amir Khan, section engineer, and technician Pappu Kumar, all posted in Balasore district, officials said.

Vedanta Ltd on Friday said it will acquire the semiconductor and display businesses from sister concern Twin Star Technologies Ltd.

The new structure will make Vedanta India's first company in Integrated Semiconductor and Display Fab Business.

Indian tomato prices are soaring due to adverse weather, triggering a wave of social media memes comparing the cost of the essential ingredient with anything from petrol to political influence.

Heavy rains in some growing areas and hotter-than normal temperatures last month hit output of the crop, causing a fivefold increase in prices this year. Tomatoes usually become expensive in the lean production months of June and July, but the impact this year has been exaggerated.

Country's leading retailer Reliance Retail on Friday said it will reduce the equity share capital to the extent held by shareholders other than its promoter and holding company.

The board of Reliance Retail, on July 4, 2023, approved the proposal in which shares held by such shareholders shall stand cancelled and extinguished as per the capital reduction plan.

Prime Minister Narendra Modi will lay the foundation stone for several crucial infrastructure development projects worth around Rs 6,100 crore in Warangal on Saturday, according to official sources.

Modi would visit the famous Bhadrakali temple in the district before attending the events and would also address a public meeting, they said.

Karnataka Chief Minister Siddaramaiah is set to present the State Budget today at 12 noon, the first after Congress assumed power in the state following its sweeping victory in the May 10 assembly elections.

Chief Minister Siddaramaiah has arrived at Vidhana Soudha in Bengaluru to present the state budget.

Hospitality technology platform OYO on Friday said it will add 500 new hotels in the next three months in host cities of the upcoming men's cricket world cup in India, to meet the anticipated increase in booking demand.

The new hotels will be strategically located near the stadiums, ensuring ease of access for cricket fans traveling from around the world to witness their favourite teams in action, OYO said in a statement.

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