ASK Hedge Solutions, a prominent financial services firm, has set its sights on raising a substantial corpus of Rs 3,000 crore for its alternative investment fund (AIF) in the next 18 months. The ASK Absolute Return Fund, an open-ended category-III AIF, aims to attract investments from high net worth individuals, ultra HNIs, family offices, and corporate treasuries.
CEO Vaibhav Sanghavi expressed confidence in the fund’s potential, stating, “The ASK Absolute Return Fund is designed to provide attractive investment opportunities for discerning investors looking to diversify their portfolios and achieve superior returns.”
In other news, HCG Group recently announced a significant investment of Rs 500 crore in expanding Piped Natural Gas (PNG) connections in Gurugram. The move underscores the company’s commitment to promoting sustainable energy solutions and aligning with national sustainability objectives.
Furthermore, Servotech Power Systems has secured an order to establish 20 electric vehicle (EV) charging stations in the Nashik Municipal Corporation area. This initiative aims to address the growing demand for accessible charging facilities for EVs and support the transition towards cleaner transportation options.
On the financial front, the Indian rupee depreciated by 4 paise to close at 82.90 against the US dollar, while the stock market exhibited volatile behavior with the Sensex closing over 100 points higher and the Nifty settling at 22,055.70.
Additionally, NexGen Energia announced plans to invest Rs 1,000 crore in setting up an EV manufacturing unit in Jammu and Kashmir, highlighting the company’s commitment to sustainable energy solutions and contributing to the region’s economic development.
Overall, these developments reflect the dynamic landscape of the financial and energy sectors in India, with companies like ASK Hedge Solutions, HCG Group, and NexGen Energia driving innovation and growth in their respective fields. Stay tuned for more updates on the evolving business landscape.
