Battery-as-a-Service (BaaS) startup VoltUp on Wednesday said it has partnered with BSNL for setting up electric vehicles battery swapping stations in the country. Initially, under the partnership battery swapping stations will be set up in four locations across Gurugram, enabling an infrastructure of over 150 charging docks, the company said in a statement. It will [...]
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a [...]
JK Tyre & Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing. The investment by IFC in JK Tyre & Industries will part-finance the expansion of manufacturing capacities [...]
Adani Airports chief Arun Bansal on Wednesday said the cost of operating airports has to come down by 30-50 per cent in the coming years as he highlighted the growth potential of the Indian aviation market. Currently, the company is operating seven airports and is building another one. Bullish on the Indian market, Bansal said [...]
Mahindra & Mahindra on Wednesday said World Bank Group arm IFC will invest Rs 600 crore in a new unit of the company, which is being incorporated to scale up the last-mile electric mobility business. IFC is investing Rs 600 crore in a new last-mile mobility (LMM) company -- a wholly-owned subsidiary of Mahindra & [...]
Vedanta Group firm Hindustan Zinc Ltd (HZL) on Tuesday said its board has approved a fourth interim dividend of Rs 26 per equity share or 1,300 per cent for FY2022-23 amounting to Rs 10,985.83 crore. This takes the Udaipur-based Hindustan Zinc's total payout to shareholders at a record Rs 32,000 crore this fiscal, making it [...]
The Department of Telecom has sought Rs 33,111 crore for payment of adjusted gross revenue dues of state-run BSNL which is likely to be made in the upcoming April-June quarter, according to a Parliamentary panel report. In a submission to the Standing Committee of Communications and Information Technology, the Department of Telecom shared that against [...]
Tata Power Renewable Energy Ltd (TPREL) on Tuesday said it has received a letter of award from MSEDCL to set up a 200 MW solar project in Solapur, Maharashtra. The letter of award has been received from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project will be commissioned within 18 months from the [...]
State-owned Power Finance Corporation (PFC) on Tuesday said its board has approved raising up to Rs 80,000 crore through various financial instruments. An amount of Rs 40,000 crore will be raised through long-term domestic borrowings, and another Rs 20,000 crore by way of long-term foreign currency borrowing, according to a filing. Besides, proposals have been [...]
E-vehicle manufacturer Ola Electric is close to raising funds of around USD 300 million for its expansion plans and to meet other corporate needs, sources close to the company said. The fresh round of fundraising comes amid expectations that Ola Electric would break even soon and achieve profitability. The fundraising would be managed by investment [...]
