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Commissioning of AGEL’s RE projects, cash flows may get delayed

An immediate fallout of the US’s bribery charges against Adani group would be a slowing of the pace of its massive renewable energy (RE) ventures, and a delay in start of cash flows from the power supply contracts that looked lucrative and but have now come under a cloud. The latest developments could also have

PharmEasy halves loss to Rs 2,533 crore in FY24, revenue shrinks 15 per cent

After a year of cost-cutting measures, online pharmacy startup Pharmeasy has reduced its losses by 51% to Rs 2,533.5 crore in FY24, primarily due to lower goodwill impairment charges and an overall decline in expenses. In FY23, the Mumbai-based company’s losses stood at Rs 5,211.7 crore. However, revenue from operations shrank 14.8% to Rs 5,664

Tata Power, ADB sign $4.25-billion pact for project financing

Tata Power on Thursday said it has signed a memorandum of understanding (MoU) with Asian Development Bank (ADB), coinciding with the ongoing climate conference (COP29) at Baku, Azerbaijan, to evaluate financing for its several projects. The total estimated project cost is nearly $4.25 billion. Also ReadKenya cancels airport and energy deals with Adani group after

Visas backlog for Chinese technicians for PLI reducing

The fast tracking of visa restrictions for Chinese technicians for companies under the Production Linked Incentive (PLI) scheme has resulted in a reducing the backlog of applications, a senior official said.  “Now that pendency has come down. Lot of improvement is there. There is a relief in this for those companies. The ministry of home

After Shipway, Unicommerce in talks for more acquisitions

Unicommerce’s recent acquisition of Shipway could give it a big opportunity of over Rs 4,000 crore, according to MD and CEO Kapil Makhija. “We haven’t done a detailed external study, but our internal assessment suggests that the market is roughly Rs 3,800-4,300 crore annually, which is a large opportunity, he said. The acquisition aligns with

Backer GQG’s $10-billion Adani bet under threat

GQG Partners, one of the biggest backers of Adani Group post the US short-seller Hindenburg Research row, said it is reviewing the need to potentially act on its investments in the group companies after the US authorities indicted founder Gautam Adani in an over $250-million bribery case. GQG Partners’ shares tumbled over 19% in Australia

93 per cent of Adani Green portfolio has pacts with govt bodies

About 93% of Adani Green Energy (AGEL)’s portfolio has executed power purchase agreements (PPA) with government-owned entities such as Solar Energy Corporation of India (SECI) NTPC, NHPC and state power distribution companies (discoms). AGEL primarily serves B2B customers such as state utilities and discoms. AGEL has entered into long-term PPAs with discoms to offtake the

SEBI to probe disclosure violation against Adani

The Securities and Exchange Board of India (SEBI) will probe allegations of disclosure violation that has come to light as part of an indictment filed by the Department of Justice (DOJ) and the US Attorney for the Eastern District of New York, according to sources. “SEBI will take action if there is any disclosure violation.

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Welspun Corp bags new orders worth Rs 2,400 crore for supply of coated pipes in the US

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Upcoming IPOs: 1 mainboard, 3 SME issues open for subscription this week, 2 new listings to hit the market

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