Category: Power

Adani Enterprises (AEL) has set a price band of Rs 3,112-Rs 3,276 per share for its Rs 20,000-crore follow-on public offering (FPO). Shares of the company last closed at Rs 3,595 on the BSE. The floor price is set at a 13.4 per cent discount to the last close, while the top-end is close to […]

Richest Indian Gautam Adani-led group’s flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore […]

Adani Green Energy arm Adani Renewable Energy Holding Two Ltd will acquire 50 per cent equity in Essel Saurya Urja Company of Rajasthan Ltd from Essel Infraprojects for Rs 15 crore. Adani Renewable Energy Holding Two Ltd (ESUCRL) has entered into a binding term sheet with Essel Infraprojects Ltd on January 17, 2023 to this […]

Homegrown Salasar Techno Engineering Ltd (STEL) on Wednesday said it has secured a Rs 143 crore contract from the Nepal government. “The order is for procurement of materials, associated accessories and necessary installation services including design and commissioning of 33/11 KV substations and 33 KV, 11 KV, 400 V lines and distribution systems networks,” the […]

The National Institute of Hydrology on Wednesday said the profiles of water samples taken from JP colony in Joshimath and NTPC project site are different. Citing a preliminary report of the National Institute of Hydrology (NIH) which studied the water samples of the two places, Secretary Disaster Management Ranjit Kumar Sinha said their profiles are […]

Officials of the National Thermal Power Corporation have claimed that the land subsidence in Joshimath is not linked to tuneling for the Tapovan project. Amid the locals blaming the tunnel for the cracks in their houses, NTPC Tapovan Chief General Manager Rajendra Prasad Ahirwar said that the tunnel is not passing through Joshimath, hence there […]

Sundram Fasteners, which serves original equipment manufacturers (OEMs) and automakers, said on Tuesday it had won a $250-million contract by an international company to supply sub-assemblies for an electric vehicle (EV) platform. The deal is one of the largest won by an Indian supplier for this range of products of an EV platform, said Sundram […]

Adani Enterprises on Tuesday signed a deal with Ashok Leyland and Ballard Power to launch a pilot project to develop a hydrogen fuel cell electric truck for mining logistics and transportation — a first in Asia. The FCET is scheduled to be launched in India in 2023. The demonstration project will be led by AEL, […]

Electric two-wheeler company Ola Electric has turned profitable on the back of manufacturing efficiency and economies of scale, said its chief marketing and revenue officer. Though the company declined to share the revenue numbers, it said it is not making a loss. “We are the most capital efficient business out there in terms of our […]

At least 53 per cent of Indian consumers would opt for a gasoline or diesel engine vehicle for their next purchase as opinion slowly turns in favour of electric vehicles (EV), said a report on Tuesday. Around 20 per cent of Indians are open to buying a hybrid electric vehicle and only 8 per cent […]

The European Union pushed forward on Tuesday with a massive clean tech industrial plan which not only should keep the continent in the vanguard of plotting a greener future but also guarantee its economic survival as it faces challenges from China and the United States. EU Commission President Ursula von der Leyen presented the outlines […]

Tata Motors, which dominates the electric passenger vehicles space in India with a market share of around 85 per cent, is likely to face challenges this year from two Chinese companies looking to acquire one-third of the domestic EV market, The Financial Express reported on Tuesday. The Chinese-owned British brand MG Motor and China’s biggest […]