Reliance Invests in Adani’s Power Project: Ambani-Adani Alliance
The Indian business landscape witnessed a historic shift on March 28, 2024, as Reliance Industries (RIL), led by Mukesh Ambani, acquired a 26% stake in a specific 500 MW unit of a 1,000 MW power project owned by Gautam Adani’s Adani Power Ltd. This Madhya Pradesh project, under Mahan Energen Ltd, marks the first-ever collaboration […]
NTPC Secures JBIC Loan for $200M Renewable Projects
State-owned power giant NTPC has ignited its renewable energy ambitions with a strategic $200 million loan agreement from the Japan Bank for International Cooperation (JBIC). This financing marks a substantial leap forward in NTPC’s diversification plans, transitioning from its traditional reliance on coal-fired power generation. The loan is expected to propel NTPC’s renewable energy project […]
RBI Advises Banks on Alternative Investment Fund Investments
The Reserve Bank of India (RBI) took a cautious step towards harmonizing regulations for bank investments in Alternative Investment Funds (AIFs) with a recent advisory issued on March 27, 2024. This revision follows a December 2023 circular that caused a ripple effect within the banking sector, with estimates suggesting a potential freeze on ₹2 lakh […]
Sonata Finance Acquired by Kotak Bank for Rs 537 Cr
Continuing its aggressive growth strategy, Kotak Mahindra Bank (Kotak Bank) announced a significant acquisition on Thursday, March 28, 2024. The bank signed a definitive agreement to acquire Sonata Finance Pvt Ltd, a prominent NBFC-MFI (Non-Banking Financial Company – Microfinance Institution), for Rs 537 crore. This strategic move strengthens Kotak Bank’s position in the rapidly expanding […]
LIC Crowned World’s Strongest Insurance Brand by Brand Finance
The Life Insurance Corporation of India (LIC) has rewritten insurance history by claiming the title of the world’s strongest insurance brand in the recently published Brand Finance Insurance 100 2024 Deciphering Brand Strength: Beyond the Numbers While a steady brand value of USD 9.8 billion showcases LIC’s financial stability, true strength lies in its exceptional […]
Audi Launches Pre-Owned Car Facility in Guwahati
On March 27, 2024, Audi India inaugurated its newest pre-owned car facility, Audi Approved: plus, in Guwahati, Assam. This marks the 26th outlet for the brand’s pre-owned car program in India, signifying a strategic expansion in the pre-owned car segment. Strategically located at Balughat, Jayanagar Tripura Road, Guwahati, the new showroom boasts a display capacity […]
Starcharge Energy, Uno Minda Team Up for EV Charger Venture
Indian auto component giant, Uno Minda, has struck a strategic partnership with Starcharge Energy, a global leader in EV charging technology with a presence in 67 countries and manufacturing facilities in the US, Vietnam, and China. This collaboration marks a significant step towards bolstering India’s domestic EV charging infrastructure, with a specific focus on manufacturing […]
Reliance Industries Signs PPA with Adani Power Subsidiary
In a move that sent ripples through the Indian business landscape, Adani Power announced that its subsidiary, Mahan Energen Limited (MEL), signed a long-term Power Purchase Agreement (PPA) with Reliance Industries Limited (RIL) . This strategic partnership, finalized on March 27, 2024, guarantees a stable supply of 500 megawatts (MW) of power to Reliance Industries […]
Adani Ports Buys 95% Stake in Gopalpur Port
India’s port sector is undergoing a significant transformation, with Adani Ports and Special Economic Zone (APSEZ) emerging as a clear frontrunner. To solidify its leadership position, APSEZ has inked a strategic deal to acquire a commanding 95% stake in Gopalpur Port, located in Odisha. This decisive move, valued at a total enterprise value of Rs […]
Adani Power’s Acquisition of Lanco Amarkantak Gets CCI Nod
The Indian thermal power market witnessed a major shakeup on March 26, 2024, as the Competition Commission of India (CCI) approved Adani Power Limited’s acquisition of Lanco Amarkantak Power Limited. This move signifies a strategic step by Adani Power to solidify its position as a dominant player within the sector. Lanco Amarkantak’s Insolvency Paves the […]