Business & Finance

India amends power policy draft to halt new coal-fired capacity sources

Govt assessing monetary impact of EU’s carbon tariff set to hit in Oct – EQ Mag

May 16, 2023 Anand Gupta

Sarangi also said that the government hopes to make substantial progress in the India-UK free trade agreement (FTA) in the 10th round of negotiations from 5-9 June in the national capital The government is assessing the monetary hit of the European Union’s (EU) Carbon Border Adjustment Mechanism (CBAM) that is set to hit the transition […]

Business & Finance

IIFCL profit doubles to highest ever of Rs 1,076 cr in FY23 – EQ Mag

May 16, 2023 Anand Gupta

India Infrastructure Finance Company Ltd (IIFCL) on Monday reported a two-fold jump in standalone net profit to Rs 1,076 crore for the fiscal ended March 2023 aided by an increase in lending and reduction of bad loans. The state-owned infrastructure finance company had earned a net profit of Rs 514 crore in the previous fiscal. […]

Business & Finance

Adani Transmission seeks shareholders’ nod to raise up to Rs 8,500 crore – EQ Mag

May 16, 2023 Anand Gupta

The company explained that it anticipates growth opportunities in its existing operations and continues to evaluate various avenues for organic expansion and achieving inorganic growth Adani Transmission has sought shareholders’ approval to raise up to Rs 8,500 crore through issuance of equity shares on qualified institutional placement basis. The company has sought shareholders’ approval through […]

Business & Finance

EIB Global’s finance worth Euro 10.8 billion in 2022 – EQ Mag

May 15, 2023 Anand Gupta

Brussels [Belgium] : Despite the challenges of investing in an economic recovery after the pandemic, EIB Global, the development arm of the European Investment Bank, financed Euro 10.8 billion in 2022, 50 per cent more than the previous year’s figures, in its first year of existence. In 2022, the EIB Group continued to support global […]

Business & Finance

TotalEnergies ENEOS Expands Partnership With Golden Victory Vietnam To Develop A 4.6 MWp Solar Rooftop Project – EQ Mag

May 15, 2023 Anand Gupta

NAM DINH, Vietnam : TotalEnergies ENEOS has signed a long-term agreement with Golden Victory Vietnam Co., Ltd., one of the biggest shoes and footwear manufacturers and a key supplier for globally renowned sportwear brands, to develop a 4.6 megawatt-peak (MWp) solar photovoltaic (PV) system at its facility in Nam Dinh Province, Vietnam. This new phase […]

Himachal targets to be first green energy state by 2025 CM Sukhu

Business & Finance

Govt aims at bringing Rs 20,000 cr investment, creating industry-friendly environment: CM – EQ Mag

May 15, 2023 Anand Gupta

Creating an industry-friendly environment in Himachal Pradesh is the topmost priority of the state government, Chief Minister Sukhvinder Singh Sukhu said on Sunday. The government is aiming to bring an investment of about Rs. 20,000 crore in manufacturing, tourism, energy, construction and housing with the potential of providing direct employment to about 40,000 persons and […]

Business & Finance

Harnesing 10% of coal bed methane reserves can cut India’s energy import bill by $2 billion: Experts – EQ Mag

May 15, 2023 Anand Gupta

New Delhi: Experts said India could cut its energy import bill by $2 billion if the country harnesses 10 per cent of its 2,600 billion cubic meters of coal bed methane reserves. This assumes significance considering India’s coal production hit a record high during the last financial year and plans to further increase it. Experts […]

ONGC Floats Tender For 5 MW Solar Plant At Hazira Plant

Business & Finance

ONGC arm raises $500m in foreign currency loan – EQ Mag

May 15, 2023 Anand Gupta

ONGC Videsh, the overseas arm of the Oil and Natural Gas Corporation, has raised a foreign currency loan of $500 million from a consortium of banks comprising DBS, Bank of Baroda and State Bank of India, according to people familiar with the matter. The syndicated loan, denominated in dollars and with a tenure of five […]

India’s Gautam Adani Asia’s richest man in the eye of a storm

Business & Finance

Adani eyes Rs 21,000 crore from stake sale in two group firms – EQ Mag

May 15, 2023 Anand Gupta

US short-seller Hindenburg Research in January released a damning report alleging accounting fraud and stock price manipulation at Adani Group, triggering a stock market rout that had erased about USD 145 billion in the conglomerate’s market value at its lowest point. Billionaire Gautam Adani’s group will raise Rs 21,000 crore (over USD 2.5 billion) through […]

Business & Finance

Samsung SDI and GM Will Invest Over USD 3 Billion to Build EV Power Battery Plant in US – EQ Mag

May 15, 2023 Anand Gupta

After SK On’s announcement that it has formed a joint venture with Hyundai to set up an EV power battery plant in the US, Samsung SDI as the other major South Korean battery supplier is following suit. In late April, Samsung SDI announced via its official website that it has reached a tentative agreement with […]