Adani Group stocks, especially energy, have been indicted by US prosecutors for taking part in a scheme in which he promised to pay more than $250 million in bribes to Indian government officials to secure solar energy contracts. The focus will be on the field. Prosecutors in Brooklyn, New York, alleged Wednesday that Adani and other defendants lied about their plans in an attempt to raise money from U.S. investors. The five-count indictment also accuses Indian renewable energy company executives Sagar R. Adani and Buneet S. Jain of violating federal law. “The defendants orchestrated an elaborate scheme to bribe Indian government officials to win contracts worth billions of dollars,” Breon Peace, the U.S. attorney for the Eastern District of New York, said in a statement.
Nokia has signed a multi-year, multi-billion dollar extension with Bharti Airtel to provide 4G and 5G equipment to major cities and states in India. Under the agreement, Nokia will deploy technologies from its 5G AirScale portfolio, including base stations, baseband units, and advanced Massive MIMO radios, supported by energy-efficient ReefShark system-on-chip technology.
The Power Grid Corporation of India (PowerGrid) on Wednesday announced that it has acquired the Kavda VA power transmission project through a tariff-based competitive bidding route. Power Grid said in a statement that the Kabda VA Power Transmission is the first-ever high-voltage direct current (HVDC) project to be tendered through the Toll-Based Competitive Bidding (TBCB) process.
BEML has bagged an order worth Rs 246.78 crore from Central Coalfields Limited (CCL). The order includes the supply of 48 BH60M rear dump trucks, spare parts and consumables, and comprehensive after-sales support, the Bangalore-based company said in a release. The truck is a high-performance vehicle powered by a Cummins engine that produces 480 kW (644 FHP) at 2000 rpm and is mated to an advanced Allison transmission.
LatentView Analytics has appointed Remadevi Tottatil as chief human resources officer (CHRO), the company announced Wednesday. With more than 20 years of experience in talent management, leadership, and organizational development, Ms. Thottathil will lead LatentView’s HR strategy, employee engagement, talent acquisition, and related functions.
Cipla is recalling more than 1,800 boxes of its generic drug in the United States due to complaints that the pills broke, according to U.S. health regulators. Cipla’s U.S. operations are recalling 1,875 boxes of lanthanum carbonate chewable tablets (1000 mg, 10-count bottles) on the U.S. market, according to the latest enforcement report from the U.S. Food and Drug Administration (USFDA). This drug is indicated for the treatment of high phosphate levels in the blood.
Dr Reddy’s Laboratories announced that the US health regulator has issued Form 483 with seven observations to its drug substance manufacturing facility in Bolaram, Hyderabad. It added that the tests were conducted from November 13 to 19, 2024. “The company has been issued Form 483 with seven observations. We will respond within the stipulated deadlines,” the company said.
Tata Power has entered into a strategic partnership with Bhutan’s Druk Green Power Corporation Ltd (DGPC) for the development of 5,000 MW of clean energy capacity in the Himalayan country. DGPC is a subsidiary of Druk Holding and Investments Ltd, Bhutan’s sole power producer.
Vedanta Aluminum on Wednesday announced that it has signed an agreement with state-owned gas utility company GAIL (India) Ltd. for the supply of natural gas to its smelter in Jharsuguda, Odisha. The country’s leading aluminum producer has signed a gas sales agreement with GAIL Gas Ltd., a subsidiary of GAIL (India) Ltd.
French energy giant Total Energy and Oil India have signed a cooperation agreement to carry out a campaign to detect and measure methane emissions at the Indian company’s sites. The French company said in a statement that both companies will use TotalEnergies’ pioneering AUSEA technology. OIL recently joined the Oil and Gas Decarbonization Charter (OGDC), a global industry initiative launched at COP28, co-chaired by the CEO of TotalEnergies.
Adani Energy Solutions Ltd (AESL) on Wednesday announced that it has signed an agreement with PFC Consulting Ltd for the acquisition of Pune-III Transmission Ltd., a special purpose vehicle for the project. The Pune-III Transmission Limited (PTL) project involves setting up of new 2×1500. MVA, 765/400 kV and 3×500 MVA, 400/220 kV Pune III substation and 816 ccm transmission lines, according to installation regulatory filings.
JSW Steel on Tuesday announced that it has been declared the preferred bidder for Kodri Mineral Block XII in Dharbandra, Goa. The company has received a communication from the Office of the Director General, Mines and Geology Department, Government of Goa, JSW Steel said in an exchange filing. The company has been declared a ‘preferred bidder’ with the highest final bid amounting to 92.60 per cent of the value of the shipped mineral.”
Wipro collaborated with Lineaje to strengthen the security of open source components within enterprise software applications. The partnership is in conjunction with Wipro Ventures, the company’s corporate investment arm, which recently invested in Lineaje, a US-based company specializing in software supply chain security.
UPL’s board of directors has approved the terms and conditions for the rights issue of Rs 3,378 crore. The company plans to issue 9,38,25,955 partially paid up shares at a price of Rs 360 per share, which includes a premium of Rs 358 per share on full payment. Eligible shareholders can subscribe to one right share for every eight fully paid shares as of the November 26 record date.
Gujarat Narmada Valley Fertilizers and Chemicals Limited has entered into a Memorandum of Understanding (MoU) with INEOS Acetyls to explore the possibility of constructing a world-class 600,000 tonne acetic acid plant at its premises in Bharuch, Gujarat. ) was concluded. INEOS Acetyls is the world leader in acetic acid production, while GNFC is currently India’s sole acetic acid producer.
Aditya Birla Capital has invested Rs 100 crore in its wholly owned subsidiary Aditya Birla Capital Digital Ltd (ABCDL) through a share issue. The investment, which was completed on November 19, will enable ABCL to retain 100 percent ownership of ABCDL. This capital injection is expected to support ABCDL’s digital initiatives and expansion plans.
Easy Trip Planners has partnered with BNZ Green to promote green travel and reduce the tourism industry’s environmental impact.
