Government’s Rs 4,500 crore Production Linked Incentive scheme for renewables finds 18 applicants

India’s big business corporate houses like Reliance, Adani, Tata, and Jindal are some of the 18 companies that have applied for the government’s Rs 4,500 crore production-linked incentive (PLI) scheme. They expect to start or increase their manufacturing capacity with the help of these funds. State-owned giant, Coal India Limited (CIL), which is also trying […]

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Adani loses $13 billion in four days in worst wealth devastation last week

Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raised questions about some offshore investors. The news triggered a stockmarket rout in his conglomerate’s six listed stocks. The 58-year-old tycoon has lost more money this week than anyone else in the world, with his personal fortune tumbling by about […]

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Reliance-BP invites bids for gas from KG-D6, priced against international benchmark

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Reliance Industries and its partner UK’s BP Plc has invited companies to bid for 7.5 million standard cubic meters per day of gas (mmscmd) incremental gas it plans to produce from the second-wave discoveries in the KG-D6 block, pricing them for the very first time against an international gas benchmark. While Reliance-BP had sold the first […]

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Adani Group refutes buying directly from the farmers; only manage grain silos for FCI

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Adani group has denied reports that it is buying harvested crops from the farmers. The group has also rubbished any claim of fixing the price for farmers’ produce. The port-to-energy-to commodities conglomerate said it only develops and operates grain silos for Food Corporation of India (FCI). Recently, Adani’s name has been echoing during farmer protests along with Reliance […]

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Adani, Andhra govt win coal blocks in auction

Four coal blocks, including a coking coal mine, were grabbed by private players, including the Adani group, on the second day of auctions. This has confirmed adequate investor interest in the set of assets offered under the commercial mining policy. More aggressive bidding was seen in the case of smaller blocks. State government undertaking Andhra […]

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Adani promises to complete 1,000 MW transmission line to Mumbai by December 2022

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Adani Electricity Mumbai (AEML) confirmed that the proposed transmission line and sub-station project at Mumbai’s suburban Vikhroli to enhance Mumbai’s power supply by 1,000 MW will be complete by the end of next year, as per the mandated deadline. In a review meeting taken following last Monday’s power outage, Maharashtra Chief Minister Uddhav Thackeray had asked all […]

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