Vedanta Resources appoints Georgeson for shareholder engagement on delisting issue

UK’s Vedanta Resources (VRL) has appointed US-based shareholder engagement firm Georgeson to convince shareholders to accept its delisting process for India’s Vedanta Ltd (VDL). VRL holds 50 per cent stake in VDL and it requires 40 per cent more to delist the company from Indian stock exchanges. VRL has offered ₹87.5 per share as its […]

BEML dispatches prototype of mainline electric multiple unit to Railways

BEML has dispatched prototype of Mainline Electric Multiple unit (MEMU) to the Indian Railways. The company will be supplying 300 MEMU coaches to the Railways. “The MEMU with three-phase onboard propulsion system, is an existing Indian Railways-approved Carbody design that has been adopted, re-engineered and developed by BEML on a contract from Indian Railways,” said […]

Buyers of electricity contracts in IEX Real Time Market see 21 per cent cheaper average trading prices

Buyers of electricity contracts in the Real Time Market (RTM) platform of Indian Energy Exchange (IEX), witnessed 21 per cent cheaper average trading prices. According to data released by IEX, prices for June 2 delivery were Rs 2.2 per unit, 21.8 per cent cheaper when compared to June 1 when prices per unit were trading […]

Sterling and Wilson Solar commissions solar PV project in Oman

Shapoorji Pallonji-backed Sterling and Wilson Solar Limited (SWSL) has commissioned the operations of its maiden solar PV project in Oman. SWSL, an engineering procurement construction (EPC) company had received the order from Amin Renewable Energy Company SAO to construct this solar project. The Amin Solar PV project is supported by the Japanese-Omani consortium designed by […]

Telangana CM writes to Modi over State’s opposition to Draft Electricity Bill

Telangana Chief Minister K Chandrasekhar Rao has made a request to Prime Minister Narendra Modi highlighting the State’s concerns over the proposed Draft Electricity Bill. In a letter addressed to the Prime Minister late on Tuesday — which was also Telangana State Formation Day — the Chief Minister requested the Centre to withdraw the proposed […]

Brokerage firms back InvIT, IndiGrid due to good recent performances

Power sector InvIT, IndiGrid’s recent performance has got a thumbs up from analyst firms. Equity research and brokerage house firm Edelweiss Securities has given a ‘buy’ rating for IndiGrid. This comes in the wake of a transmission asset acquisition coupled with strong FY20 performance. “We reaffirm confidence in IndiGrid’s business model, which is backed by […]