US-based Augment Infrastructure to acquire Mumbai-based CleanMax with Rs 1650 crore equity investment

Mumbai-based rooftop solar developer CleanMax, is set to be acquired by a US-based investment firm, Augment Infrastructure. The deal will have Augment picking up a majority stake in CleanMax for an equity consideration of Rs 1,650 crore. According to a media statement, CleanMax will use this investment to accelerate its growth in the commercial and […]

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S&P downgrades outlook for Adani Mumbai discom to ‘negative’

S&P Global Ratings has downgraded the outlook for Adani Electricity Mumbai (AEML) to negative from stable, mainly over apprehensions that the leverage levels of Adani Transmission (ATL), AEML’s holding company, will rise over the next two years as it undertakes significantly higher spending to grow its asset base. The agency has retained ‘BBB-‘ credit rating on AEML. […]

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Crude falls, but no respite for fuel prices in India; petrol price in Mumbai cross Rs 107 a litre mark

On Friday, 16 July, crude oil prices headed for their biggest weekly drop since May this year as expectations of more supplies spooked investors. In India, however, the price of petrol and diesel touched record highs. Mumbai’s petrol cost is the highest across metro cities, standing at a staggering Rs 107.54 per litre. Diesel in the […]

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