The government on Tuesday said it was considering various options for restructuring of the 2,184 MW Dabhol power project.
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
Prime Minister Narendra Modi on Wednesday launched a Rs 100 lakh crore national master plan for multi-modal connectivity that aims to develop infrastructure to reduce logistic costs and boost the economy. PM Gati Shakti targets to cut logistic costs, increase cargo handling capacity and reduce the turnaround time, Modi said at a function to launch the plan. The plan aims to lend more power and speed to projects by connecting all concerned departments on one platform, he said, adding the infrastructure schemes of various ministries and state governments will be designed and executed with a common vision.
The 2024 Kia Sonet facelift impresses with its comprehensive upgrades, ranging from a refreshed exterior design to advanced safety and technological features.
Extension of tax break is part of the efforts to scale up the power generation capacity.
The tragic incident occurred on Wednesday when the Appar temple's chariot procession was passing through the Thanjavur-Boodalur Road.
Infrastructure assets worth over Rs 1.62 lakh crore are expected to be monetised during the current fiscal, Parliament was informed on Monday. The government had last year announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) to unlock value in infrastructure assets across sectors, ranging from power to road and railways in four years till 2025. In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said about Rs 97,000 crore worth of public assets were monetised in the last fiscal (2021-22).
The combined market capitalisation of Adani Group companies fell by Rs 54,876 crore, to Rs 10.92 trillion, as investor sentiment turned bearish on Wednesday. Shares of Adani Transmission fell by 7.7 per cent to close at Rs 886 while those of Adani Power lost 7.1 per cent to end the day at Rs 323. The stock of Adani Enterprises, the flagship company of the group, lost 6.2 per cent to finish at Rs 2,530.
Generation and supply of electricity was severely affected in several parts of Coastal Andhra and Rayalaseema regions due to ongoing strike by employees of power utilities against the division of Andhra Pradesh.
MEIL has become one of the fastest growing and most successful infrastructure and engineering, procurement, and construction companies in the country in recent times.
Oil and Natural Gas Corporation will take 50.5 per cent stake in the company that will set up the over Rs 2,000-crore (Rs 20 billion) Tripura power project and the associated transmission lines.
G P Birla, noted industrialist and the second most eldest member of the Birla clan, passed away after a brief illness in Kolkata on Friday evening. Birla, 86, was younger to his cousin B K Birla, who is now 90. His father, late B M Birla, was the founder of the GP-CK Birla group which has interests in automobiles, bearings, earthmoving, power transmission equipment, cement, fan, IT and consumer durables among others.
The government's move is crucial as the state distribution utility MahaVitaran was purchasing about 95 per cent of power since the Dabhol project began generation in April 2006
Most of the Adani Group companies fell in the morning trade on Friday and flagship Adani Enterprises tumbled 10 per cent after index provider MSCI decided to reduce the weightage of four firms in its indices following a review. Amid volatile trading in the market, seven Adani Group firms were in the negative territory while three others were in the green. Adani Enterprises plunged 10 per cent to Rs 1,734.60 per share, its lower price band on the BSE, and the company's market valuation dropped to Rs 2.14 lakh crore.
The share prices of power transmission and distribution company Areva T&D rose 2.8 per cent on the Bombay Stock Exchange on Tuesday in anticipation of a possible open offer. A combine of Alstom and Schneider Electric have bought the entire stake in it of its majority holder, French nuclear major Areva.
All India Radio and Doordarshan employees, affiliated to National Federation of Akashvani and Doordarshan, are holding a day-long demonstration in Mumbai on Tuesday, protesting the "denial" of benefits given to government employees.
The Power Grid Corporation of India and the State Grid Corporation of China have signed a three-year memorandum of understanding to share experiences in transmission and telecommunications.
India Infrastructure Finance Company has joined hands with Infrastructure Leasing and Financial Services to develop and finance 10,000 MW of power generation and transmission, entailing an investment of upto Rs 35,000 crore (Rs 350 billion).
Duty cut on raw material imports are not likely.
"I want RPG to be the most exciting workplace in the country," Harsh Goenka says.
On Thursday, Adani Enterprises announced that it will not go ahead with acquiring Macquarie group's two road companies at an enterprise valuation of Rs 3,100 crore.
Deposit of pollution particles on transmission lines was attributed as the reason for tripping, which officials described as a common phenomenon during winter -- which has been unusually long this year. Delhi, Uttar Pradesh and Haryana were the most hit due to the failure in the lines.
The objective of Sahara Power Fund would be to invest "in equities and equity-related securities of companies engaged in the business of generation, transmission, distribution of power or in those companies engaged directly or indirectly in any activity associated with power sector", said the draft document filed with the market regulator SEBI.
Goa, Uttarakhand and Meghalaya will initiate schemes to enable 24x7 power to consumers.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
"It looks like some states withdrew more power than required. I have constituted a committee of experts and they will examine and file a report on the entire issue in detail. We will take stern action against the erring states. This has happened despite 5000 megawatt additional electricity availability in the northern grid," the minister said.
Power Grid Corp of India Ltd is set to form joint ventures with five more companies, including Oil and Natural Gas Corporation and Essar, for setting up transmission lines in the country entailing a total investment of Rs 5,000 crore (Rs 50 billion).
'We have informed the government multiple times that the situation in the US and India are different.' 'Here, there will be a 500 MHz gap in the frequencies which will safely allow aviation without interference.'
'India's emergence as a top crypto market comes despite a regulatory and tax environment that can be challenging for the industry to navigate.'
"Overdrawing of power by neighbouring states and low voltage has led to power disruption," a senior Maharashtra State Electricity Board official said.
So far the government has been silent on the charges being levelled, even after the stock price rout. Perhaps it is hoping for the share price to settle so that the matter goes away, predicts Aakar Patel.
Billionaire Gautam Adani on Thursday said his logistics-to-energy conglomerate will invest $70 billion over the next decade to become the world's largest renewable energy company and produce world's cheapest hydrogen. Adani Green Energy Ltd (AGEL), the world's largest solar power developer, is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest $20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23. Adani Transmission Ltd (ATL), India's largest private sector power transmission and retail distribution company, is looking to increase the share of renewable power procurement from the current 3 per cent to 30 per cent by FY 2023 and to 70 per cent by FY 2030.
The Railway Minister Lalu Prasad Yadav on Thursday ruled out retrenchment of employees in railways and nationalised banks.
