JINDAL GROUP
Waaree Renewable Technologies bags 2 GW solar project in Bikaner
Waaree Renewable Technologies Ltd (WRTL) has secured its largest-ever order for a 2 GW solar project from Sunbreeze Renewables Nine Pvt Ltd, a Special Purpose Vehicle (SPV) of Jindal Renewables. The project in Bikaner, Rajasthan, will use advanced technologies and sustainable solutions.
JSW group in talks with Chinese biggies to charge up its EV drive
JSW Group is exploring collaborations with Chinese companies like Geely and BYD to launch electric cars and e-trucks under its own brand by 2025. It plans to invest ₹27,200 crore in Maharashtra to produce 500,000 electric cars and 100,000 commercial vehicles annually, with operations under JSW Green Mobility.
With Manmohan Singh's demise, India has lost one of its tallest leaders, finest economists: says K M Birla
Former Prime Minister Manmohan Singh, a towering leader and renowned economist, has passed away at the age of 92. His contributions, including the crucial 1991 economic reforms, have left an indelible mark on India. Singh's extraordinary journey from humble beginnings to Prime Minister inspired generations. Leaders and industry figures mourn his loss and remember his wisdom and humility.
SBI to down-sell part of ₹1,800-cr loan for Adani's Lanco buy
State Bank of India is negotiating with other banks to sell a part of the INR 1,800-crore loan given to Adani Power for acquiring Lanco Amarkantak Power. Adani Power bought Lanco Amarkantak for INR 4,101 crore. Adani repaid lenders using generated cash, internal accruals, and raised funds.
To fund expansion, Chinese electronics and auto companies like Xiaomi, SAIC and Haier in India tap reserves, loans
Some like Haier and Midea Group are using a mix of cash reserves and loans including external commercial borrowings (ECBs), while financials of Lenovo and Xiaomi showed an increase in their cash reserves and borrowings, indicating preparations for higher working capital needs for expanding operations.
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Adani’s troubles may give India Inc. a breather
Gautam Adani, facing US bribery charges, sees his vast empire-building challenged. Rivals in cement and energy anticipate shifts in the competitive landscape. The case may slow Adani's expansion, impacting India's solar industry and potentially reshaping power distribution models.
Suzlon Group secures repeat order of 302 MW wind project from Jindal Renewables
Suzlon Group secured a 302.4 MW wind power project from Jindal Renewables in Karnataka, expanding their partnership to a total of 702.4 MW. Suzlon will install 96 wind turbines, powering steel plants in Chhattisgarh and Odisha. This marks Suzlon's largest C&I order and supports India's renewable energy goals.
Suzlon shares rise 3% after winning 302.4 MW wind project order from Jindal Renewables
Suzlon share price: Suzlon Energy has achieved a significant milestone by securing its largest ever Commercial and Industrial (C&I) order from a single customer. The company will be developing a massive 400 MW captive wind power project for Jindal Renewables in Karnataka. This landmark deal underscores the growing demand for renewable energy solutions within the C&I sector and positions Suzlon Energy as a leading player in India's wind energy market.
JSW set to launch its own EV brand to 'Make in India'
Months after forming a $1.5 billion joint venture with China's SAIC Motor for electric vehicles, JSW Group plans to launch its own EV brand. JSW Chairperson Sajjan Jindal emphasized producing and selling in India. A new EV plant in Aurangabad will create 5,200 jobs. This move positions JSW against major competitors like Tata Motors and Mahindra.
Third eye: Will go a long way, Odisha hosts one event after another now and it's still likely to take a little bit longer
Kurukshetra MP Navin Jindal drove an MG Comet Electric to Parliament, aiming to contribute to making Delhi pollution-free. Odisha is gaining recognition for hosting major events, including the DGP-IGP conference and Navy Day. Furthermore, the Allahabad High Court's decision paves the way for a Milkipur by-election, pending further scheduling by the Election Commission.
Turn greenwashing machines off: Timarpur Okhla waste-to-energy plant faces scrutiny over toxic emissions
A New York Times investigation reveals that the Timarpur Okhla Waste Management Plant in Delhi is emitting dangerous levels of pollutants, exceeding permissible limits. Despite earning carbon credits, the plant's inefficiency and lack of waste sorting raise concerns about its environmental impact and potential health risks for local communities.
Leading Indian business group uses Russian tech to revolutionise construction industry
DS Jindal Group has launched Flujo, a brand of Glass Fiber Reinforced Polymer rebars. The company has partnered with Russian Entrepreneur Konstantin Gorchakov. Flujo offers a non-corrosive alternative to traditional steel rebars. The company plans to establish 12 production units by 2026. DS Jindal Group aims to lead the Indian GFRP rebar market by 2030.
JSW Group, South Korea's Posco partner to set up steel plant in India
JSW Group and South Korea's Posco Group have signed an agreement to establish a 5 million tonnes per year integrated steel plant in India. They will also explore collaborations in battery materials, electric vehicles, and renewable energy. This partnership aims to enhance technology and sustainability in manufacturing.
Transformers and Rectifiers (India) gets orders worth Rs 270 cr from Adani Energy, 3 others
Transformers and Rectifiers (India) Ltd announced on Tuesday that it has secured orders totaling Rs 270 crore from Adani Energy Solution, Siemens, and two other companies. The company plans to deliver the transformers by the next financial year. The contracts include Rs 117.03 crore from Siemens, Rs 102.78 crore from Adani Energy Solution, Rs 6 crore from AMNS India Limited, and Rs 44.40 crore from Jindal Group. The company clarified that its promoters and group companies have no interest in the awarding entities.
JSW Group & Korea’s POSCO Group sign MoU to develop integrated steel plant in India
JSW Group has signed a Memorandum of Understanding (MoU) with Korea's POSCO Group to establish an integrated steel plant in India with an initial capacity of 5 million tonnes per annum. The partnership aims to develop a framework for collaboration in steel, battery materials for electric vehicles, and renewable energy.
Jindal Group to expand cement capacity to 7 MnTPA with Rs 2,200 crore investment
Jindal Group has commissioned a 1.5 MnTPA cement grinding unit in Odisha as part of a Rs 2,200 crore expansion. Utilising blast furnace slag from JSPL's nearby steel plant, the facility enhances low-carbon cement production. Future plans include increasing capacity to 7 MnTPA at Angul and Raigarh.
Jindal Group in talks to acquire Czech-based Vitkovice Steel for 150 mn euros
Homegrown Jindal Group is in talks to acquire 100% stake in Czech-based Vitkovice Steel via Jindal Steel International. This will mark their first European acquisition, expected to conclude by fiscal year-end, valued at approximately 150 million euros. The group aims to strengthen its European presence and address CBAM regulations.
India Inc.’s spending splurge may not trickle down
Indian conglomerates plan to invest $800 billion in the next decade. Most funding will go to existing businesses, but 40% will target new sectors like green hydrogen and electric vehicles. High interest rates, fiscal tightness, and local competition could pose risks. S&P sees execution and borrowing challenges due to unproven technologies.
Adani Power, Vedanta, JPL, four others in race for Sinnar Thermal Plant
Maharashtra state government-owned MAHAGENCO and public sector NTPC have also submitted a joint bid for the plant, which is based near Nashik, two people familiar with the process said.
Adani Power, Jindal Power, Vedanta, four others in race for Sinnar thermal plant
Maharashtra state government-owned MAHAGENCO and public sector NTPC have also submitted a joint bid for the plant, which is based near Nashik, two people familiar with the process said. The power plant, a subsidiary of RattanIndia Power, was initially developed by Indiabulls Power and was admitted to insolvency in January following a plea by Shapoorji Pallonji & CoShapoorji Pallonji & Co for non-payment of dues after constructing a part of the plant.
Savitri Jindal tops again, Biological E's Mahima Datla joins Forbes' rich list; Here are top nine richest women
India's wealthiest list sees nine women featured in 2024, led by Savitri Jindal with a net worth of $43.7 billion. Notable names include Rekha Jhunjhunwala, Renuka Jagtiani, and newcomer Mahima Datla. The combined net worth marks significant growth since 2019.
Modi stocks rise in revenge mode as BJP scores hattrick in Haryana elections
After a decline following the Lok Sabha results, Modi stocks surged by 9% as the BJP won Haryana elections. PSU stocks, particularly in railways and defense, gained notably, while Adani Group shares also rose significantly.
JSW Group appoints Rajiv Mehta as Chief of mobility arm
JSW Group has appointed Rajiv Mehta as Chief of Business for its mobility arm, JSW Auto. Based in Mumbai, Mehta will report to Parth Jindal and work closely with Chairman Sajjan Jindal. His extensive experience in the automotive sector will support JSW's expansion into the electric vehicle market.
Jindal India to invest Rs 1,500 crore to expand production capacity
Jindal India, a downstream steel player, plans to invest Rs 1,500 crore to boost its annual production capacity to 1.6 million tonnes. The expansion will focus on coated flat products, pipes, and crash barriers. Completion is expected by FY 2025-26, with production starting within the ongoing fiscal year.
JSW Steel consolidated crude steel output rises marginally to 23.16 LT in August
JSW Steel reported a marginal increase in its consolidated crude steel output for August, reaching 23.16 lakh tonnes, up one per cent from the previous year. The company's Indian operations saw a two per cent rise in production, achieving 22.49 lakh tonnes with a capacity utilisation of 91 per cent.
BC Jindal Group enters renewable energy sector with $2.5 bn investment
BC Jindal Group announces its entry into India's renewable energy sector with a plan to invest $2.5 billion over the next five years. The group aims to generate 5 GW of renewable power and manufacture photovoltaic cells and modules, leveraging its existing power generation capabilities.
JSW Cement files DRHP for Rs 4,000 crore IPO. Check details
India's JSW Cement filed draft papers for an initial public offering worth up to 40 billion rupees ($476.7 million) on Friday, aiming to cash in on the country's booming stock market and strong demand for the building material.
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