'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
Reliance Jio, the telecom business of the Mukesh Ambani-promoted conglomerate, is expected to go for an initial public offering (IPO) of over $6.25 billion either in the second or the third quarter of the calendar year 2025, sources said. Reliance Retail is likely to be listed around the same time with a short gap, it is learnt. The timing of the two IPOs, however, will depend on the company's assessment of the market conditions among other factors.
French oil and energy group Total has agreed to a $2.5 billion deal that includes buying a 20 per cent minority stake in Adani Green Energy Ltd (AGEL) from Adani Group, as it builds up its presence in the renewable energy sector. The deal involves Paris-based Total getting a board seat in the largest solar energy developer in the world, as well as a 50 per cent stake in a 2.35 gigawatts portfolio of operating solar assets, the two firms said in statements. Total had in 2018, agreed to buy a 37.4 per cent stake in Adani Gas Ltd - the city gas distribution firm of the Adani Group, and a 50 per cent stake in the billionaire Gautam Adani-run ports-to-energy conglomerate's under-construction Dhamra LNG project in Odisha.
After a much-needed two-day respite, Team India returned to the training grounds with renewed vigour, setting their sights on a pivotal showdown against New Zealand on Sunday.
Lee Jae-myung's decisive victory in South Korea's snap presidential election marks a major political shift driven by public backlash against authoritarian, with significant implications for domestic reform and the future of the US-South Korea alliance, observes Dr Rajaram Panda.
Brazilian authorities have rescued 163 workers from conditions similar to 'slavery' at a construction site for a factory of Chinese electric vehicle company Build Your Dreams (BYD) in Camacari, Bahia.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, plans to raise $409 million through US dollar-denominated bonds to repay a debt obligation falling this year. In a regulatory filing, the company said the bond will have a door-to-door tenor of 18 years. The proceeds will be used to redeem the $500 million 6.25 per cent senior secured notes due 2024, it said adding these notes were issued on June 10, 2019.
US President Donald Trump signed an executive order directing the Department of Justice to pause enforcing a nearly half-century-old law that was used to launch a bribery investigation against the Adani Group. Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
While the government is pushing for the use of renewable energy in rural areas to address the twin problems of climate change and scarcity of power, the nodal ministry for carrying out the exercise has not been performing well.
Chinese Ambassador to Pakistan Jiang Zaidong urged that the government should launch a crackdown against all anti-China terrorist groups after two deadly attacks took place in Pakistan within only six months, The Express Tribune reported.
The growing decline of MTech applicants in Indian colleges is due to multiple factors, including outdated curricula, poor return on investment and lucrative non-engineering alternatives, say experts.
The government on Tuesday said it has notified the Green Open Access Rules 2022 to further accelerate India's renewable energy programmes. These rules are notified for promoting generation, purchase and consumption of green energy including through waste-to-energy plants. It enables a simplified procedure for the open access to green power, the power ministry said in a statement.
"Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award in Jaipur.
A US-based manufacturer of microturbine energy systems would provide a biogas-to-energy demonstration project in West Bengal.
Coal India would open 60 new mines soon, the minister said.
Billionaire Gautam Adani-led group's renewable energy firm on Thursday announced plans to raise Rs 12,300 crore through a share sale to investors as the group continues to build on a comeback strategy to emerge out of allegations of fraud levelled by a US short-seller. Adani Green Energy Ltd in a stock exchange filing said its board has approved raising up to Rs 12,300 crore through an issue of equity shares by way of qualified institutional placement (QIP). The funds are intended to be used for meeting capital needs of the company's expansion plans.
For instance, Indian Oil Corporation, the nation's biggest marketer and refiner, doubled its R&D spend from Rs 30 crore to Rs 60 crore (Rs 600 million) this year. The company is conducting research in areas like biodegradable lubricants and oil refining technology. The company will shortly commission a pilot at its Faridabad centre, where it will install technology for coal gassification and production of ethanol from biomass.
It is now official. Nitish Kumar, chief minister of the power-starved state of Bihar, has decided to go green. The chief minister will use solar energy to power his official residence in Patna, an official on Wednesday said.
Global supermajor BP Plc's exclusivity with Reliance Industries Ltd has ended but the energy giant will continue to pursue oil and gas as well as mobility ventures in India with the Mukesh Ambani firm owing to an unwritten strategic partnership, BP's outgoing India head Sashi Mukundan said. BP in 2011 spent $7.2 billion to acquire 30 per cent interest in 23 oil and gas blocks of Reliance. Eastern offshore KG-D6 block was the cornerstone of the deal that also provided for a 10-year exclusivity period which meant that BP would take up energy projects or investments in India only in partnership with Reliance.
'I have always played wherever the team wanted me to play. Team thinking has always come first.'
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
Prime Minister Narendra Modi on Friday said the world has seen the power of India's indigenous weapons during Operation Sindoor, which is 'not over yet'.
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Climate change and US-India collaborations in renewable energy resources will be up for discussion at the US-India energy summit coinciding with Prime Minister Narendra Modi's visit to Washington, DC, later this month, reports Aziz Haniffa.
The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
India witnessed a record-breaking surge in deal activity in February, with 226 M&A and private equity deals totaling $7.2 billion -- the highest monthly deal volume in the last three years, according to the Dealtracker report of Grant Thornton Bharat. "This represents a 67 per cent increase in volumes and a 5.4-fold increase in values compared to February 2024, while a 14 per cent increase over the previous month," it said.
US-based boutique investment firm GQG Partners and other investors have bought close to $1 billion worth of stocks in Adani group's two firms from the founding family in large block trades. The group's flagship Adani Enterprises Ltd saw 18 million shares, or 1.6 per cent, trade in a single block while the renewable energy firm Adani Green Energy saw a total 35.2 million shares, or 2.2 per cent, change hands, sources aware of the matter said.
A steel workers union in the US has filed a trade case identifying "illegal" Chinese practices that threaten America's renewable energy sector and asked the Obama Administration to sue Beijing over its green energy subsidies, a demand swiftly supported by a key Senator.
A billion dollars in renewable energy is huge.
US prosecutors' case against Gautam Adani and others may stumble on the extraterritorial application of American law.
Novelis' Q3FY25 volume stood at 904,000 tonnes (down 1 per cent Y-o-Y, down 4 per cent Q-o-Q), due to lower VAP and automotive shipments. Revenue stood at $4.1 billion (+4 per cent Y-o-Y, down 5 per cent Q-o-Q).
Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
Aiming at reduction of carbon emission by using clean energy, Indian Railways has embarked upon a renewable energy action plan as part of the national policy to address the impact of climate change.
The Energy Efficiency and Renewable Energy (EERE), US Department of Energy, is in talks with several Indian government departments for creating a bio-mass roadmap for India similar to the one being planned with China.
Noting India's need to raise power generation capacity to four lakh MW by 2030, President A P J Abdul Kalam on Wednesday sought 'intensive cooperation' with the European Union in the field of energy, including nuclear, to help achieve the goal.
Tata Power's Q2FY25 reported results were above consensus despite challenges like low plant availability at Mundra and Odisha discom operations affected by rain. A positive development for the power major included module manufacturing hitting nearly 100 per cent capacity utilisation. The Board has approved an investment proposal for a 1GW pumped storage project (PSP).
The Caribbean side will back themselves to spoil James Anderson's farewell Test after breaching Australia's fortress, The Gabba, earlier this year.
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