Latest news with #NitinAgrawal
India Gazette
08-07-2025
- Business
- India Gazette
UP Excise Dept to host investor summit in Lucknow
Lucknow (Uttar Pradesh) [India], July 8 (ANI): Uttar Pradesh Excise Minister Nitin Agrawal on Tuesday said that the state's Excise Department will host its first-ever Investors Summit in Lucknow on Wednesday. He added that the UP Excise Department has invited investors from nearly all parts of the country and members of the international community. The one-day summit aims to bolster investment in the excise sector as part of Chief Minister Yogi Adityanath's vision to make Uttar Pradesh a one-trillion-dollar economy. Agrawal said that investors who have already signed or are scheduled to sign a Memorandum of Understanding (MOU) have been classified into three categories. The summit will also feature presentations on the state's investment policies and the signing of new agreements. Agrawal said, 'Tomorrow, our department in Lucknow is organising a one-day investor Summit. This is the first time the Excise Department has invited investors here. We have investors from nearly all parts of India. Additionally, we have also invited international community members.' 'Yesterday, the Excise Department took significant steps toward the Chief Minister's goal of achieving a one-trillion-dollar economy. The investors who have already invested and signed MOUs, or are scheduled to sign MOUs tomorrow, have been divided into three categories. Additionally, the investment policies of the Uttar Pradesh government are outlined. All of this will be discussed, and we will sign new MOUs as well,' he added. The department's investor summit targets to foster innovation, business partnerships, and new opportunities. The state government has successfully attracted attention from businesses around the world through its business summits. While several projects have already started work on the ground, many others are currently in the final stages of implementation. Notably, Uttar Pradesh has been an investment hotspot, attracting around Rs 4.12 lakh crore from diverse sources between 2017 and 2022. The Yogi government has received positive responses whenever it has encouraged investors through investor summits to invest in their ventures in Uttar Pradesh. (ANI)
The Hindu
29-06-2025
- Politics
- The Hindu
Kerala Cabinet to decide on new State Police Chief on Monday
The State Cabinet is set to decide on the next State Police Chief during a special meeting on Monday. The final decision will be made from a shortlist of three senior police officers, Nitin Agrawal, Ravada A. Chandrashekhar, and Yogesh Gupta, who have been recommended by the Union Public Service Commission (UPSC). Having generated considerable anticipation, the race for the top position is reportedly tipped in favour of Mr. Chandrasekhar. Koothuparamba firing The officer, who is currently Special Director at the Intelligence Bureau, expressed his interest in the position during a recent meeting with the Chief Minister. However, his appointment may face political opposition, considering his involvement in the Koothuparamba firing incident in 1994, in which five Democratic Youth Federation of India (DYFI) activists were killed and six injured. The subject could become a delicate issue for the Communist Party of India (Marxist) [CPI(M)], despite the Kerala High Court having had quashed the murder charges framed against him and other officials in 2012. The government also explored the possibility of appointing an officer from outside the UPSC's shortlisted list like Director General of Police (DGP) Manoj Abraham or Additional DGP M.R. Ajith Kumar. But, the idea has been generally discouraged, considering the legal implications and judicial scrutiny such a decision could invite. The incumbent State Police Chief Shaik Darvesh Saheb will retire on Monday after two years in office. His farewell parade will be held at the Special Armed Police (SAP) parade ground in Thiruvananthapuram, followed by an official farewell ceremony at the State Police Headquarters. Laurels for officers On Sunday, Mr. Saheb presented the Badge of Honour and Commendation Discs for outstanding contributions at a ceremony held here. As many as 219 police officers were honoured for excelling in various aspects, including case investigation, law and order management, intelligence gathering, administration, human trafficking control, traffic regulation, training, cybercrime prevention, fingerprint collection, social policing, railway police and coastal police. While 164 officers were awarded the Badge of Honour, 49 others from the Armed Police Battalion received Commendation Discs. Additionally, six officers from the ministerial category received Commendation Certificates.
Yahoo
14-05-2025
- Business
- Yahoo
Nvidia-backed CoreWeave whipsaws as investors digest $23 billion capital expenditure plan
CoreWeave (CRWV) stock fell as much as 7% after company executives blew past Wall Street expectations for capital expenditures as the Nvidia-backed (NVDA) AI data center company burns through cash to buy up AI chips. CoreWeave executives said in a call that the company expects to spend $20 billion to $23 billion in 2025, more than the $18.3 billion projected by Wall Street analysts, according to Bloomberg consensus estimates. CFO Nitin Agrawal said that the higher spending is "fundamentally driven by increased customer demand." The company is one of the largest holders of Nvidia's graphics processing units and rents its data center capacity to Big Tech firms such as Microsoft (MSFT) and Meta (META) as they scramble to power their AI ambitions. The company's stock had jumped as much as 11% earlier in after-hours trading on Wednesday after it released its first earnings report as a public company. The results featured first quarter revenue that topped analyst estimates as well as a bullish outlook for the year. CoreWeave reported revenue of $981.6 million for three months ending on March 31, ahead of the $862.3 million expected by Wall Street analysts, according to Bloomberg estimates. The company projects revenue of $1.06 billion to $1.1 billion for the second quarter and $4.9 billion to $5.1 billion for the full year — higher than Wall Street analysts' projections of $1.04 billion for the second quarter and $4.6 billion for the year, according to Bloomberg data. CoreWeave attributed its higher revenue outlook to a deal with OpenAI as well as a new $4 billion deal with 'a large AI enterprise' that the company announced Wednesday. CEO Michael Intrator indicated the unnamed client is a Big Tech "hyperscaler," or a large-scale data center operator. "With regards to the hyperscale client, there aren't that many hyperscalers, so you can look at our website and assume who the addition is." CoreWeave's Big Tech clients include Nvidia and IBM (IBM) in addition to Microsoft (MSFT) Meta (META). "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications," Intrator said in the company's earnings release. CoreWeave raised $1.5 billion in its IPO in March — much lower than the $4 billion it had initially hoped to raise — with the stock whipsawing as Wall Street and investors weighed its risky financials against bullish outlooks for AI demand. Ahead of Wednesday's earnings release, CoreWeave stock was up 66% since the company's market debut. Seven analysts tracked by Bloomberg hold a Buy rating on the stock, while nine hold Neutral ratings. Hedgeye Risk Management holds a short position on the stock. DA Davidson analyst Gil Luria, who holds a Neutral rating on the stock, maintains skepticism over what he said is CoreWeave's 'risky' capital structure and high customer concentration. CoreWeave has a significant amount of debt: roughly $12 billion worth of debt commitments with high interest rates of 10% to 14%, according to Luria. CoreWeave uses its debt, borrowed against its store of Nvidia GPUs as collateral, to buy more Nvidia chips. 'The risk is this is a company that is borrowing at extraordinarily high interest rates in order to buy a product [Nvidia GPUs] that depreciates very rapidly in terms of its economic value,' Luria told Yahoo Finance in an interview Wednesday. Some 77% of CoreWeave's 2024 revenue came from just two customers, according to regulatory filings, with 62% coming from Microsoft (MSFT). And despite revenue hitting roughly $2 billion that year, the company still lost nearly $1 billion, according to a March filing with the Securities and Exchange Commission. In regard to its customer concentration, CoreWeave said no customer made up more than 50% of its revenue at the end of its first quarter, but said that will not be the case going forward with its new $4 billion deal with the unnamed AI company. CoreWeave, overall, is still losing money. The company reported an adjusted net loss of roughly $150 million for the first quarter, steeper than the $41.7 million loss expected, per Bloomberg data. 'As long as this demand for AI services continues to grow exponentially, they'll be fine," DA Davidson analyst Gil Luria told Yahoo Finance in an interview Wednesday. If demand wanes, however, 'this doesn't go well because this is a company with inherently low margins and low returns that is borrowing at very high rates.' Other analysts maintain that booming AI demand means CoreWeave will succeed. Macquarie analyst Paul Golding said in a note to investors Wednesday ahead of its earnings report that its 'competitiveness, together with the outlook for the [AI] space, drives scope for further growth.' After falling to a closing price low of $35 in April, CoreWeave shares have soared nearly 55% over the past month, trading at $67 Wednesday. Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @ Email her at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-02-2025
- Business
- Yahoo
ADROSONIC Unveils Intelligent Automation Practice to Drive Business Efficiency and Innovation
ADROSONIC is advancing its automation solutions to meet the rising demand for intelligent, AI-driven transformation MUMBAI, India, February 25, 2025--(BUSINESS WIRE)--ADROSONIC, a leading digital transformation and consulting firm, is proud to announce the launch of its Intelligent Automation practice, marking a significant step in its commitment to driving business efficiency through innovation and cutting-edge technology. With global intelligent process automation revenue expected to exceed US$25.9 billion by 2027, businesses are increasingly turning to AI-driven solutions to achieve greater productivity, enhance customer relations and drive business growth. ADROSONIC's Intelligent Automation practice integrates Robotic Process Automation (RPA), Business Process Management (BPM) and Artificial Intelligence (AI) to empower businesses with smarter, faster and more scalable digital processes. Mayank, CEO of ADROSONIC, remarked, "Our customers count on us to help them stay at the forefront of innovation. With the introduction of Intelligent Automation, we are shaping the future of automation for our customers, delivering smarter, more comprehensive solutions. This new practice incorporates the latest technologies, including Artificial Intelligence, to enable our customers to truly transform their operations." Early automation targeted structured, repeatable tasks, while Intelligent Automation tackles dynamic processes with multiple data sources for greater adaptability and impact. "We developed the ADROSONIC Intelligent Automation Maturity Model, a strategic framework for automation, to help customers scale and optimise their automation efforts for maximum impact," said Nitin Agrawal, Practice Lead, Intelligent Automation. Customers have achieved game-changing results with ADROSONIC's Intelligent Automation services. The Shipowners' Club, a global marine liability insurer, automated filing of 336,000 documents, resulting in savings of 6.4 person-years of effort. Mark Hamblin, COO, explained that these efficiencies enable employees to do more valuable work: "Those people are now doing what we want them to be doing which is talking to our brokers and making sure our members get great service rather than spending time on administrative tasks." Learn more at About ADROSONIC ADROSONIC is a global IT consulting firm providing professional services to power digital transformation. ADROSONIC has offices across the globe, including India, UK, USA, Brazil and Chile. ADROSONIC has completed over 400 projects and has earned 100% client retention for over a decade. View source version on Contacts ADROSONICSujith Kolaprath+91 Sign in to access your portfolio
