India’s nuclear power capacity to increase by 70% in five years
The country's installed capacity is projected to rise from the current 7.48 GWe to 13.08 GWe by 2029, representing an addition of seven new reactors. Key Points
India TodayHigh capacity usage, fresh borrowings & new orders — why FY25 could be a big year for pvt investment
Companies are borrowing more from banks and public. Economists say high capacity utilisation & growing new orders could set stage for renewed investment push by India Inc. Key Points
ThePrintAdani to invest Rs 2.3 lakh cr in renewable energy, manufacturing capacity
Khavda/Ahmedabad (Gujarat), Apr 7 (PTI) Adani Group will invest about Rs 2.3 lakh crore through 2030 in India’s most ambitious renewable energy expansion and solar and wind manufacturing capacity addition ever as it shrugs off a short-seller attack to pursue its trademark rapid growth plans. Adani Green Energy Ltd, India’s largest renewable energy company, will […] Key Points
ThePrintDomestic load factor up in January: IATA
India Business News: In January, air travel demand increased by 17%, seat capacity by 14%, and passenger load factor reached 80%. IATA reported a 20.8% rise in internation Key Points
Times Of IndiaPM Narendra Modi to inaugurate 15 airport projects on Sunday, including Delhi's new terminal
Prime Minister Narendra Modi will inaugurate 15 airport projects, including in Delhi, Lucknow, and Pune airports. The projects also include new airports in Uttar Pradesh at Chitrakoot, Shavasti, Azamgarh, and new terminals at Belgaum, Hubli in Karnataka, Jabalpur, and Gwalior in Madhya Pradesh. Key Points
Economic Times
Govt plans to lease strategic oil reserve space to private companies
About 0.75 mmt of capacity in Mangalore and about 0.25 mmt in Visakhapatnam is currently vacant and needs to be filled, L R Jain, the CEO of Indian Strategic Petroleum Reserves Limited (ISPRL), said on Tuesday. Key Points
Economic TimesThe world’s last wave of oil refining bets all about India
India is embarking on a capacity expansion of its oil refineries to meet the country's rising thirst for fossil fuels. The building blitz aims to raise production of traditional transport fuels such as gasoline and diesel, which will increase India's refining capacity by more than 20% over the next five years. This boost comes at a time when the global refining industry is declining in the US and Europe, making India a rare exception. The slower adoption of electric vehicles in India and the country's growing transport demand will keep the appetite for gasoline and diesel higher for longer. Key Points
Economic TimesAdani Green Energy Q3 net profit swells 148% at Rs 256 crore
India Business News: Adani Green Energy Limited, the renewable energy arm of Adani Group, reports a 148% increase in net profit for Q3 FY 2024. Find out more about their revenue growth and capacity utilisation factor. Key Points
Times Of IndiaCommitted to achieve 50 pc of renewable power sources ahead of 2030, says official
India aims to achieve its target of 50% renewable energy capacity by 2030, ahead of schedule. The country plans to have 485 GW of renewable energy out of a total capacity of 500 GW from non-fossil sources. Currently, renewable energy accounts for over 42% of India's total energy capacity. The renewable energy capacity has increased from 76 GW in 2014 to 180 GW at present. Another 175 GW of renewable energy capacity is under implementation. Key Points
Economic TimesHonda Motorcycle commissions 6.5 lakh additional production capacity at Gujarat plant
New Delhi, Jan 8 (PTI) Honda Motorcycle & Scooter India (HMSI) on Monday said it has commissioned a third assembly line at its Vithalapur (Gujarat)-based manufacturing plant. The third line will add an additional production capacity of 6.5 lakh scooter units, taking the total capacity of the facility to 19.7 lakh units per annum. “To […] Key Points
ThePrint
M&M to roll out expansion plans to meet robust demand
We are ramping up capacity to 49,000 SUVs per month by March 2024. With the introduction of the Thar five-door and our subsequent plans on electric vehicles (EVs), we anticipate further expansion. We will share the fresh capacity addition plan by May 2024. Key Points
Economic TimesFlood warning for Chennai after water release from Chembarambakkam lake
Heavy rainfall flooded several areas of Chennai, leading to the release of 200 cubic feet of excess water from Chembarambakkam Lake, the city's main drinking water source, at 10 am. This has prompted a flood warning for low-lying regions and six villages along the Adyar River. Key Points
Economic Times10 best IFB front load washing machines: Shopping guide
Invest in an IFB front load washing machine if you are looking for efficiency and durability. Here are top 10 options to consider before buying one. Key Points
Hindustan TimesLooking for IFB top load washing machine? Here are 10 best options to consider
IFB top load washing machines come with a trust of a well known brand. They are efficient machines that can significantly reduce washing chores. Key Points
Hindustan TimesIndia's Adani Green posts surge in profit on higher sales, capacity
Adani Green Energy (ADNA.NS), India's largest renewable energy firm by total capacity, reported a 50.5% rise in first-quarter profit on Monday, aided by strong power sales and improved capacity utilisation in its solar and wind-solar projects. Key Points
Reuters/cloudfront-us-east-2.images.arcpublishing.com/reuters/ZHLGG56HJRIUJJMDMF5UEB3AJQ.jpg)
India's steelmaking goals risk quadrupling emissions unless net zero pursued -report
India's plans to build out coal-powered steelmaking capacity will quadruple emissions from 2021 to 2050 unless it takes significant steps to meet its 2070 net zero goal, U.S.-based think tank Global Energy Monitor (GEM) said on Thursday. Key Points
ReutersFresh bids for advanced chemistry cells
The Indian Ministry of Heavy Industries will issue a fresh tender for the production-linked incentive scheme, inviting bids for the ?18,000-crore Advanced Chemistry Cells (ACC) project. The scheme aims to incentivize the production of 20GWh battery storage capacity. Three companies, Ola Electric, Reliance New Energy, and Rajesh Exports, qualified for incentives in the initial round. Ola Electric and Reliance New Energy have presented production roadmaps, while Rajesh Exports is likely to be disqualified for failing to submit plans. The government will also provide additional incentives for a 10GWh capacity project using new battery technologies. Key Points
mintAdani Green raises capacity by 43%
Adani Green Energy Ltd, the renewable energy arm of the Adani group, increased its capacity by 43% to 8,316 MW in Q2, making it India's largest renewable energy company. The company added 1,750 MW of solar-wind hybrid capacity, 212 MW of solar capacity, and 554 MW of wind power plants. Adani Green aims to achieve 45 GW of renewable energy capacity by 2030 and is actively working towards its net-zero target by 2050. The stock price of Adani Green rose 1.6% after the announcement. Key Points
mintIndia's HPCL gets bids to lease part of Chhara LNG terminal
India's Hindustan Petroleum Corp Ltd (HPCL.NS) has received six or seven bids from industries to lease a part of its Chhara liquefied natural gas (LNG) import terminal on the west coast, the LNG unit's chief executive said on Monday. Key Points
ReutersJyotiraditya Scindia to meet senior airline representatives on rising airfares
Before flight suspension, the airline had a capacity of carrying around 35,000 passengers on nearly 180 flights per day. To tide over the capacity constraint, the Centre allocated adhoc airport slots to other airlines. Key Points
Financialexpress
Rs 33-trn power sector investment planned
As per the NEP document, the projected all-India peak electricity demand is 277.2 GW for 2026-27 and 366.4 GW for 2031-32. Key Points
Financialexpresscapacity expansion of its existing plants: Triveni
Triveni is planning a capacity expansion of its sugar unit at Sabitgarh using INR85 crore of capex. The funds will add 2,000 tonnes of cane per day of capacity, raising the total crushing capacity of the company to 63,000 TCD. The company achieved the highest-ever sugarcane crush of 9.33 million tonnes in the sugar season 2022-23, which increased 11% YoY, and predicts achieving record crushes next year assuming favourable monsoon conditions. Key Points
Economic TimesAdani's Ambuja Cements places order for capacity expansion
The capacity expansion projects will enable production of Blended Green Cement of 14 million tonnes, post all requisite approvals. These projects are also expected to generate substantial value to the existing business and enable more employment and growth opportunities, beneficial for all stakeholders. Key Points
Economic TimesEnergy PSUs eye 38,000 tonnes per annum green hydrogen capacity
India is placing a big thrust on green hydrogen in its energy transition plan. It aims to develop green hydrogen production capacity of at least 5 million metric tonnes per annum by 2030, which would involve an investment of ₹8 lakh crore. Key Points
Economic TimesAdani Green Energy profit more than triples to Rs 507 crore
Ahead of the earnings announcement, AGEL’s shares closed up 3.67% at ₹950.60 on the BSE on Friday. Key Points
Financialexpress
3,110 MW hydro power units to go on stream this fiscal
India will add 3,110 MW hydro power generation capacity built at an investment of about Rs 45,000 crore this fiscal, expanding the current installed capacity of 46,850 MW by 6.6%. Key Points
FinancialexpressReliance Industries Ltd rides PLI schemes to close in on $1-1.5/kg Green H2 target
Reliance is making progress towards its goal of producing green hydrogen at a cost of $1-1.5 per kilogram. The company has secured product-linked incentives in the renewable energy sector, including for solar modules and advanced chemistry cell battery storage. These incentives are expected to help RIL achieve its target cost. Key Points
Economic TimesKKR’s IndiGrid acquires Virescent for ₹4,000 cr
India Grid Trust, backed by KKR & Co., will acquire all units of KKR-sponsored Virescent Renewable Energy Trust (VRET) for an enterprise value of INR4,000 crore ($544m). VRET is India's first renewable infrastructure investment trust (InvIT). The acquisition includes the investment manager and project manager. KKR had previously planned to sell its 77% stake in VRET with JP Morgan running the sale process. The transaction is subject to requisite regulatory and unitholder approvals. Key Points
mintElectric two-wheeler makers to expand footprint
The electric vehicle (EV) industry has touched the milestone of 1 million unit-mark in the calendar year 2022, accounting for 4.7% of overall automobile sales. Major electric two-wheeler manufacturers are looking to expand the capacity to meet the growing demand. Key Points
The Tribune IndiaJSW Infra’s profit more than doubles to ₹251 cr in Oct-Dec
The total cargo handled by JSW Infrastructure in the third quarter stood at 28.1 million tonnes, 17% higher on-year. Key Points
mint
Climate change may cut labour productivity in India to 40% by 2100: Study
Labour productivity could fall as low as 40 per cent in countries like India and Pakistan due to climate change, threatening global food production. Other regions in Southeast and South Asia, West and Central Africa, and northern South America are also at risk with reduced physical work capacity. Assessments conclude that climate change will worsen food security challenges by reducing crop yields. Key Points
Economic TimesIndia's power demand to stay strong, rise 7% in 2023-24: Fitch
New Delhi [India], November 17 (ANI): India’s power sector demand is expected to rise by around 7 per cent in the financial year ending March 2024 amid robust industrial activity, according to Fitch Ratings. The rating agency said it expects that strong power demand would keep thermal power plant load factors high. However, coal import […] Key Points
ThePrintAdani Green Energy shares hit 5% upper circuit after Q4 profit surges four-fold
Adani Green Energy's shares increased by 5% after it reported more than a four-fold rise in consolidated net profit in Q4 of FY22 compared to the previous year. The company's revenues also increased by 58% YoY to 14,880 mn units in FY23, supported by strong capacity addition and deployment of latest renewable technologies. In contrast, on a year-to-date basis, the stock has fallen by 47%, while in the past year it has declined by 65%. The average target price of the stock is Rs 360, indicating 64% downside from current market prices. Key Points
Economic TimesStar Cement’s Rs 2200cr capex expansion drive on fast track: CEO
Kolkata, Dec 8 (PTI) In a bid to capitalise on the anticipated growth in cement demand in East and Northeast India, Star Cement is fast-tracking its expansion plans in both greenfield and brownfield projects, so that the total capacity reaches 9.7 million tonnes per year by 2025-26, an official said on Friday. The largest player […] Key Points
ThePrintMaruti 3.0: Automaker aims to double production capacity in 9 yrs
Maruti Suzuki India plans to double its production capacity to four million (40 lakhs) units in nine years from now, said Chairman RC Bhargava, hinting at what could be said to be the start of 'Maruti 3.0'. It took 40 years for it to create a capacity of 2 million units. The required investments will all come from internal resources Key Points
Economic Times
India will have 230-240 airports by 2030: Jyotiraditya Scindia
In 2013-14, there were 6 crore passengers; now the airlines are carrying about 14.5 crore passengers (annually). Pre-Covid, our high was about 420,000 passengers a day. In the non-peak season this year, we crossed 460,000 on a single day. This indicates a new demand surge in the sector. Also, the fleet size of aircraft grew from sub-400 in 2014 to about 700 now. So, there has been a 75% increase in the number of aircraft in nine years, Scindia said. Key Points
Economic TimesIndia to reimpose restrictions on procurement of solar modules from April 1
Import restrictions on solar modules return April 1, aiding local capacity. Exemptions exist for projects till March 31, 2024. Domestic manufacturing capacities are projected to grow significantly by 2026. Key Points
Economic TimesAdani Green Energy ranks among top 3 global solar PV developers
Adani Green Energy Limited (AGEL) has secured the second position among global solar PV developers, according to the Annual Global Report by Mercom Capital Group. AGEL's impressive performance and contributions to the renewable energy sector earned it this ranking, boasting a total solar capacity of 18.1 GW, covering operational, under-construction, and awarded projects. Key Points
Economic TimesRe-auction of PLI for batteries soon
The Indian government will re-auction the performance-linked incentives (PLI) for 20 GW advanced chemistry cell (ACC) battery manufacturing, following the allocation of the capacity to Hyundai Global Motors, which was found to be impersonating Hyundai Motor. Estimated incentives of ₹7,240 crore will be offered under the ₹18,100 crore PLI scheme disbursed over five years. Key Points
Economic TimesAvoid cement stocks, tough to play capex cycle now: Anand Tandon
I do not think that there is a great way to play the capex cycle right now. If you are looking for capex cycle plays, it is better off dealing with companies which are in a more traditional business of capex, somebody like Thermax or some of the other names may be better positioned to benefit from there, says Anand Tandon. Key Points
Economic Times
Budget 2024: How budget planning can help stimulate growth of renewable energy
Interim Budget 2024: The Government of India aims to achieve 50% cumulative installed power generation capacity from non-fossil fuel sources by 2030. However, there is a need for increased annual capacity addition to reach the target. The upcoming budget for FY 2024-25 is expected to focus on sustainable financing for renewable energy (RE) projects, including distributed RE installations, localizing the supply chain, and boosting rooftop solar installations. Key Points
Economic TimesJSW Energy commissions 350 MW unit at Ind-Barath thermal power in Odisha
New Delhi, Jan 15 (PTI) JSW Energy Ltd on Monday announced commissioning of the first unit — having a capacity of 350 MW — at its Ind-Barath thermal power plant in Odisha. Following the commissioning of this unit, the company’s operational capacity rises to 7,189 MW, JSW Energy said in an exchange filing. The unit […] Key Points
ThePrintSummer Rush: Consumer companies' production in top gear
White goods makers are increasing production and running their cooling product line of air conditioners, refrigerators, coolers and chest freezers at 90-100% capacity compared with 60-70% in January-February. Even fast-moving consumer goods (FMCG) and beer companies are running their assembly lines at full steam. Key Points
Economic TimesBracing for trade surge once India-Middle East-Europe Corridor is ready, govt ramping up western ports
Jawaharlal Nehru Port, upcoming Vadhavan Port in Maharashtra, and Deendayal & Mundra ports in Gujarat could be linked to the corridor, it is learnt. Efforts on to boost capacity. Key Points
ThePrintWaaree Energies raises ₹1,000 crore in funding led by ValueQuest
Within the next two years, Waaree Energies will have 20 GW of module capacity, 11.4 GW Cell and 6GW wafers manufacturing capacity. This expansion plan will consolidate Waaree’s position as the world’s largest solar module manufacturer outside China Key Points
mint
Government to build foodgrain godowns in every block
The scheme will utilise funds already allocated for other schemes, Thakur said. Under this scheme, a godown of a capacity of 2000 tonnes will be constructed in every block, or district subdivision. An inter-ministerial committee will be formed for this. The initiative will help reduce damage of foodgrains due to a lack of storage, check distress sales by farmers, reduce import dependence, and create employment opportunities in rural India, the minister said. Key Points
Economic TimesClimate change may cut labour productivity in India to 40 per cent by 2100: Study
Research predicts that other regions in southeast and south Asia, west and central Africa, and northern South America are expected to see physical work capacity reduced to 70 per... Key Points
The Tribune India