Power Grid Corp of India's Q3 profit climbs on demand surge
Electricity generation in India rose 8.7% from a year earlier in the December quarter, which analysts attribute to festive activities and strong industrial demand.
Electricity generation in India rose 8.7% from a year earlier in the December quarter, which analysts attribute to festive activities and strong industrial demand.
During Question Hour of the budget session of the Assembly, Congress MLA Tushar Chaudhary sought to know the rates at which the government purchased electricity from Adani Power Ltd during 2022 and 2023.
"The rating upgrade follows the strong improvement in the business and financial risk profiles of APL," Crisil Ratings said in a report.
Jha, presently serving as Head (Finance & Accounts) within Adani Portfolio of Companies, will assume the role of Chief Financial Officer (a Key Managerial Personnel, categorised as Senior Management Personnel), commencing from April 1, 2024, it stated.
"Adani Power continues to demonstrate its leadership across domains by achieving ever higher standards of excellence, as evidenced by the financial results for the third quarter of FY 2023-24," Adani Power CEO S B Khyalia said in the statement.
"Adani Power has entered into a Memorandum of Understanding (MOU) to sell its 100 per cent equity stake in its two wholly-owned subsidiaries i.e. Aviceda Infra Park Ltd (AIPL); and Innovant Buildwell Private Ltd (IBPL) to AdaniConnex Private Ltd (ACX)," a BSE filing said.
The Supreme Court expressed displeasure with its registry for not listing the Adani Power case despite a judicial order. Senior advocate Dushyant Dave informed the court that the registry claimed to have no instructions for listing the matter. The court questioned the registry's actions and summoned a senior official for discussion. The case has now been scheduled as the first hearing for Wednesday.
Notably, mutual funds have marginally increased or maintained their shareholding across all entities, barring Adani Ports & Special Economic Zone Ltd, and Adani Energy Solutions Ltd in the quarter under review.
IL&FS, as part of its resolution process, had recently invited expressions of interest (EoIs) to acquire a 92% stake in ITPCL held by IL&FS Energy Development Company (80%) and the group holding company (12%). This asset has two coal-based power plants with 1,200 MW capacity in Cuddalore with the potential to add nearly 2,000 MW more, a captive jetty adjacent to the plant, and a captive coal mine in Indonesia.
In a letter, JSW Energy has asked India's insolvency court to allow it to participate in an auction for the Amarkantak project, said the sources, who sought anonymity as they were not authorised to talk to media.
"Our capex will go up to run and develop infrastructure," Singh said, without elaborating on the type of projects the company would undertake.