Anil Ambani-led Reliance Power has partnered with Bhutan’s Druk Holding and Investments (DHI) to develop the country’s largest solar power project in a ₹2,000 crore joint venture. The 500 megawatt (MW) project will be developed under a 50:50 partnership through a Build-Own-Operate (BOO) model. The project is expected to be the largest private sector foreign direct investment (FDI) in Bhutan’s solar sector...
Business
Cabinet approves Rs 3,706 cr HCL-Foxconn semiconductor JV in UP’s Jewar
The Union Cabinet has approved a joint venture between HCL and Foxconn to set up a chip assembly and packaging unit in Uttar Pradesh, making it the sixth project to receive approval under the government’s ambitious Rs 76,000 crore India Semiconductor Mission. The plant will attract an investment of Rs 3,706 crore, with around Rs 1,500 crore coming from the...
India’s retail inflation eases to a 6-year low of 3.16% in April
India’s retail inflation eased to a six-year low of 3.16 per cent in April from 3.34 per cent in March, driven by a further moderation in food prices. This marks the third consecutive month that inflation has remained below the Reserve Bank of India’s 4% medium-term target. A Reuters poll of 43 economists suggested inflation fell to 3.27% in April. Food inflation,...
Adani Power Wins Contract To Supply 1,500 MW Electricity To UP
The Uttar Pradesh Cabinet has approved the signing of a power purchase agreement (PPA) between the Uttar Pradesh Power Corporation Limited (UPPCL) and Adani Power Limited (APL) for the supply of 1,600 MW of power over a period of 25 years. APL had secured the bid through a competitive bidding process conducted in October 2024. The power will be supplied...
Aditya Birla to sell paper, pulp business to ITC for Rs 3,498 cr
Aditya Birla Real Estate Limited (ABREL), the realty arm of the Aditya Birla group, on Monday said it got board approval for selling its pulp and paper businesses to ITC for Rs 3,498 crore via a slump sale. According to the business transfer agreement, Century Pulp and Paper (CPP), situated in Lalkuan, Uttarakhand, will be divested and sold to ITC,...
IndiGo hit with Rs 944 cr tax penalty
InterGlobe Aviation, the parent company of IndiGo, has been slapped with a penalty order of Rs 944.20 crore by the Income Tax Department for the assessment year 2021-22. The airline, however, has termed the order “erroneous and frivolous.” According to IndiGo, the penalty was imposed by the Assessment Unit of the Income Tax Department, while an additional fine of Rs...
Sensex jumps 1,078 points on FII inflows, gains in banks
Benchmark equity indices Sensex and Nifty surged more than 1% on Monday (March 24, 2025) amid fresh foreign fund inflows and buying in banking and oil & gas shares. The NSE Nifty surged by 307.95 points or 1.32% to 23,658.35. Intra-day, the benchmark zoomed 358.35 points or 1.53% to 23,708.75. “A positive trend in the U.S. and European markets powered...
Cars set to get costlier from April as auto majors announce price hikes
Cars are set to get costlier from April, with various automakers like market leaders Maruti Suzuki, Mahindra & Mahindra, and Hyundai, announcing price hikes due to rising input costs and operational expenses. Maruti Suzuki India, which leads the domestic passenger car segment in the country, plans to hike prices of its entire model range by up to 4 per cent from next month....
Bhagavad Gita Teaches Me “Strength And Peace”, Says Tulsi Gabbard
US Director of National Intelligence Tulsi Gabbard expressed her deep admiration for India, describing it as a place where she “always feels at home.” During her visit, she spoke about her fondness for Indian culture, cuisine, and spirituality, highlighting the influence of the Bhagavad Gita in her life. In an interview with ANI on Monday, Gabbard said, “Let me just...
India, New Zealand Announce Resumption Of Free Trade Agreement Talks
India and New Zealand on Sunday announced resumption of negotiations for a proposed free trade agreement, after it was stalled in 2015. India and New Zealand began negotiating the Comprehensive Economic Cooperation Agreement (CECA) in April 2010 to boost trade in goods, services, and investment. However, after nine rounds of discussions, the talks stalled in 2015. “The two nations are...
SpaceX’s Starship explodes in space, again raining debris over Caribbean
SpaceX’s massive Starship spacecraft exploded in space on Thursday minutes after lifting off from Texas, causing the FAA to halt air traffic in parts of Florida, in the second straight failure this year for Elon Musk’s Mars rocket program. Several videos on social media showed fiery debris streaking through the dusk skies near south Florida and the Bahamas after Starship...
RBI To Boost Liquidity With Fresh Rs 1 Lakh Crore OMO, $10 Billion Forex Swap
The Reserve Bank of India said on Monday that it will inject further liquidity into the banking system by conducting open market operation purchase auctions and long-tenure dollar-rupee buy/sell swaps. The RBI will conduct OMO purchases of government securities worth Rs 1 lakh crore in two tranches of Rs 50,000 crore each. The first auction will be held on March...