India’s top court and markets regulator are facing their biggest opportunity to show the country’s determination to police its most powerful companies as they investigate the bombshell allegations lobbed at the Adani Group by Hindenburg Research. A six-member expert panel — set up at the Supreme Court’s direction on March 2 to look into any […]
Category: Power
Power
Two Adani Group firms dropped from MSCI’s India gauge
Global index manager MSCI Inc. will exclude two Adani Group firms from its India gauge, potentially dealing a blow to their stocks that are trying to recover from the rout triggered by a short-seller report earlier this year. Adani Transmission Ltd. and Adani Total Gas Ltd. will drop out of the India index effective at […]
Billionaire Adani’s firms weigh raising up to Rs 41,000 cr
Three companies controlled by billionaire Gautam Adani are considering a fundraising that may draw as much as Rs 41,000 crore ($5 billion), according to people familiar with the matter, in a pivotal test of investor confidence in the tycoon’s empire less than four months after a scathing short seller report plunged it into crisis. Adani […]
In major climate step, EPA proposes 1st limits on greenhouse gas emissions from power plants
The Biden administration proposed new limits on Thursday on greenhouse gas emissions from coal- and gas-fired power plants, its most ambitious effort yet to roll back planet-warming pollution from the nation’s second-largest contributor to climate change. A rule unveiled by the Environmental Protection Agency could force power plants to capture smokestack emissions using a technology […]
L&T profit rises 10% to Rs 3,987 cr in Jan-Mar; AM Naik to step down as non-exec chairman
Engineering and construction giant Larsen & Toubro (L&T) on Wednesday reported a 10 per cent rise in its consolidated net profit to Rs 3,987 crore for the quarter ended in March 2023 and announced the stepping down of non-executive chairman A M Naik from the post. A M Naik has decided to step down as […]
No shell company in Mauritius; Hindenburg allegations ‘false, baseless’: Mauritius minister tells Parliament
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation’s Parliament that Hindenburg Research’s allegations of the presence of ‘shell’ companies in the Island nation are ‘false and baseless’ and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 […]
Adani Enterprises to weigh stock sale months after short-seller turmoil
Less than four months after allegations of fraud by a short seller tipped his business empire into crisis, billionaire Gautam Adani is considering tapping equity markets in a major test of investor confidence. Adani Enterprises Ltd., the Indian tycoon’s flagship, said in a statement on Wednesday it’s holding a May 13 board meeting to consider […]
Hescom asks customers to pay bills through website
Hubli Electricity Supply Company (Hescom) has asked its customers to pay electricity bills through its official website, HD-One, Karnataka-One, RTGS or NEFT. In a press statement issued here, the Hescom Superintending Engineer (O&M) has said, people were facing problem while paying bills through online payment apps like Google Pay, Phone Pay and others. Therefore, the […]
Elon Musk and Tesla break ground on massive Texas lithium refinery
Tesla Inc on Monday broke ground on a Texas lithium refinery that CEO Elon Musk said should produce enough of the battery metal to build about 1 million electric vehicles (EVs) by 2025, making it the largest North American processor of the material. The facility will push Tesla outside its core focus of building automobiles […]
Adani Power Q4 profit grows 13 pc Rs 5,242 cr
Adani Power Ltd (APL) has posted around 13 per cent jump in consolidated net profit at Rs 5,242 crore for March quarter 2022-23. The company had clocked Rs 4,645 crore net profit in January-March 2021-22, it said in a statement Friday. “Consolidated PAT (profit after tax) for Q4 FY23 grows…on account of lower finance cost […]
More than 1,600 evacuated from areas near Zaporizhzhia nuclear plant
Some 1,679 people, including 660 children, have been evacuated from areas near the Zaporizhzhia nuclear plant, a Moscow-installed official in the Russia-controlled parts of the Zaporizhzhia region of Ukraine said late on Sunday. The head of the UN’s nuclear power watchdog warned on Saturday that the situation around the plant has become “potentially dangerous” as […]
Odisha Guv seeks report from govt on power disruption at Prez event
Odisha Governor Ganeshi Lal on Monday sought a report from the state government on the nine-minute power blackout during President Droupadi Murmu’s speech at a university’s convocation in Baripada. The governor, who is also the chancellor of the universities, asked Chief Secretary P K Jena and Vice Chancellor of Maharaja Sriram Chandra Bhanjadeo University, Santosh […]