Following the cancellation of a Rs 5,454 crore worth tender for the supply and operation of about 79 lakh smart prepaid electricity meters by Madhyanchal Vidyut Vitran Nigam Ltd (MVVNL) in which Adani Group was said to be the lowest bidder, the Uttar Pradesh Power Consumer Council has demanded scrapping of similar tenders issued by […]
Category: Power
Power
Indian electrical technicians fined for trying to steal cable at Singapore police department
Three Indian-origin electrical technicians were fined for attempting to steal electric cable from their assigned place of work at a Singapore police department while another person handling live wire was electrocuted in 2020. Murugan Kothalam, 27, was electrocuted to death while handling the cables. Technicians Ezhilarasan Nagarajan, 26, and Radhakrishnan Elavarasan, 28, were fined Singapore […]
NASA’s X-57 Maxwell electric plane gets closer to first flight with successful thermal tests
NASA announced that its X-57 Maxwell all-electric aircraft completed thermal testing of its cruise motor controllers, reaching another milestone on the journey towards its first flight. The thermal testing validated the design, operability and quality of the controllers, which are critical components that power the X-57’s experimental electric motors. What is NASA’s X-57 Maxwell electric […]
Pune startup to launch India’s first solar electric car Eva in 2024
Pune-based startup Vayve Mobility is launching India’s first solar-powered electric car Eva in the market in 2024, with deliveries set to begin in the middle of the year. The car contains 150 watt solar panels on the sunroof that can give it 10-12 km of range everyday — or 3,000 km a year — in […]
Adani Enterprises stock jump 15% after promoters repay loans of $1.1 bn
A day after the Adani Group promoters prepaid $1.114 billion worth of loans ahead of their maturity to release pledged shares in its three listed entities, the stock of Adani Enterprises Ltd (AEL) Tuesday rose sharply by 14.63 per cent. The share of AEL closed at Rs 1,802.5 apiece on BSE compared to the previous […]
Indian banks exposure to Adani Group not large to pose risk, say rating agencies
Indian banks’ exposure to the controversy-hit Adani Group is not very large to pose a threat to the credit ratings of lenders at present, global rating agencies Fitch Ratings and Moody’s Investors Service said on Tuesday. However, they believe that a higher reliance of the ports-to-energy conglomerate on banks in absence of funding from the […]
Adani mulls independent review after short-seller’s criticism
India’s Adani Group is considering independent evaluation of issues relating to legal compliance, related party transactions and internal controls following a U.S. short-seller’s critical report on its businesses, disclosures showed on Tuesday. The group, led by billionaire Gautam Adani, has been roiled by days of market turmoil after Hindenburg Research on Jan. 24 alleged it […]
High-tension power lines: ‘No compensation’ for land | HC rejects fast-track hearing plea by APDR, farmers
A division bench of the Calcutta High Court on Tuesday dismissed a plea seeking a fast-track hearing of a public interest litigation (PIL), filed by the Association for Protection of Democratic Rights (APDR) along with 30 fruit farmers, against the installation of high-tension electricity lines by an Adani Group-owned power plant in Murshidabad district. The […]
Chennai power cut today: These areas will face a power cut in Chennai
The Tamil Nadu Generation and Distribution Corporation (Tangedco) has announced that power will be suspended in parts of Chennai today in Perambur carrying out maintenance work in the city. Parts of Chennai will face a power shutdown from 9 am to 2 pm, with supply expected to resume before 2 pm if the work is […]
Bid to boost confidence, Adanis prepay USD 1.1 billion to free pledged shares
In a bid to boost market confidence in the wake of their share rout and pre-empt any move by the lenders, the Adani Group promoters Monday announced prepayment of $1.114 billion (around Rs 9,215 crore) to release pledged shares in three group companies: Adani Ports & Special Economic Zone Ltd, Adani Green Energy Ltd and […]
Adani-Hindenburg row: Congress launches nationwide protests, Parliament adjourned
The Congress on Monday launched a nationwide protest over the Hindenburg report against the Adani Group. While Congress workers staged a protest outside the State Bank of India office in Hyderabad, hundreds of Congress workers, led by senior party leaders Vikar Rasool and working president Raman Bhalla, took out a rally in Jammu. Protesters in […]
Adani-Hindenburg fallout: What you need to know today
Even as shares of most of Adani group companies continue to plummet following a report by Hindenburg Research, the conglomerate on Monday announced that promoters will pre-pay USD 1,114 million (1.1 billion) for the release of pledged shares of its firms ahead of the maturity in September 2024. The step, the group said, was taken […]