A Supreme Court-appointed committee led by retired judge A M Sapre, which inquired into the Adani-Hindenburg issue, said there was no regulatory failure in relation to compliance with the regulatory stipulations governing minimum public shareholding stipulation. It also found no conclusive proof of price manipulations in Adani scrips. It said, “Hindenburg report contained no new […]
Category: Power
Power
Adani stocks lose $10 billion in value as MSCI exclusion weighs
Stocks part of Adani Group have lost a combined $10 billion in market value this week, weighed down by MSCI Inc’s move to exclude two entities from its India gauge and concerns over potential dilution from a fundraising plan. Adani Total Gas Ltd and Adani Transmission Ltd — the two stocks to be dropped from […]
In Asia, India lags with EV penetration only around 1%
As India, which is the fourth largest car market globally, charts a new course for electric vehicles (EVs), the country still has EV penetration at only around 1 per cent (according to Moody’s) – and that too dominated by electric two-wheelers. EV penetration is the sale of electric vehicles as a percentage of the total […]
Goldman funds slash stakes in Adani from active ESG portfolios
The investment arm of Goldman Sachs Group Inc. dramatically reduced its exposure to the Adani Group in its ESG portfolios in the weeks following allegations of fraud against the conglomerate by short-seller Hindenburg Research. Goldman funds registered as promoting environmental, social and governance goals under European Union rules sold about 11.7 million shares in Adani […]
At over 11%, power distribution losses weigh Bescom down
Transmission and distribution (T&D) losses of Bescom have almost stagnated close to 11% for four years now, raising concerns over the management of power by the state’s largest electricity supply company. The recent hike in power tariff has irked consumers who want escoms to focus on bringing down such losses instead of shifting the burden […]
Meghalaya’s power crisis may continue as Umiam Lake water level down: Minister
Meghalaya, which is reeling under a power crisis for the past few days, may have to suffer more in the coming days as the water level at a key dam used in producing hydel electricity is at its lowest, Power Minister A T Mondal said. The power generation may have to be shut down if […]
Bangladesh rocked by power cuts as cyclone hits gas supply
Bangladesh faced its worst power cuts in over seven months as a deadly storm forced the closure of both its floating liquefied natural gas (LNG) terminals, less than a month after a scorching heatwave caused widespread outages in the south Asian country. Cyclone Mocha, one of the strongest storms to hit the region in years, […]
Bengaluru: Industrialists, hoteliers hit hard by power tariff hike
The recent increase in power tariff has dismayed industrialists, hoteliers, and other power-intensive sectors since higher tariff will shoot up operational costs. Several industrialists have fiercely opposed the 70 paise per unit hike by the Karnataka Electricity Regulatory Commission (KERC) last week and plan to make a representation to the new government. The hike, the […]
Finance Ministry contradicts Sebi, stands by Parliament reply on Adani investigation
As a political row erupted over Sebi telling Supreme Court that it has not been probing the Adani group since 2016, the Finance Ministry on Monday said it stands by its July 2021 written reply in Parliament that had stated that the stock market regulator was investigating some Adani group companies. After Sebi filed a […]
Allegations of probe against Adani group since 2016 factually baseless, Sebi tells SC
The Securities and Exchange Board of India on Monday told the Supreme Court the allegation that it has been investigating the Adani group of companies since 2016 was “factually baseless”. In an affidavit, the market regulator told the court its previous investigation related to Global Depository Receipts was conducted against 51 Indian listed companies. However, […]
Sebi cautions against premature conclusion of Adani probe
India’s market regulator told the Supreme Court on Monday that any incorrect or premature conclusion of its investigation into the Adani Group’s possible lapses of regulatory disclosures will be legally untenable and not serve justice. The Securities and Exchange Board of India (Sebi), on April 29, had sought six months to complete its probe, rather […]
Brazil tops G-20 country ranking in power sector decarbonisation
Brazil, which will host the G-20 next year has the highest share of clean electricity in the G-20. However, India, the current host, is behind in decarbonising its electricity system. It has the second highest coal reliance, after South Africa, but is already getting 9 per cent of its electricity from solar and wind. On […]