UltraTech Buys 8.69% Stake in Star Cement for Rs 8.51 Bn

Adani’s ITD Cementation Bags Rs 16.48 bn Vadhvan Port Contract

ITD Cementation India Ltd, a subsidiary of the Adani Group, is set to secure a contract worth Rs 16.48 billion (bn) ($198 million) for near-shore reclamation and shore protection works at the proposed Vadhvan mega port in Maharashtra. The firm emerged as the lowest bidder during the recent tender opening, with a bid 6.89 per cent lower than the Rs 17.70 bn estimate provided by Vadhvan Port Project Ltd (VPPL). VPPL is a special purpose vehicle (SPV) spearheaded by the Jawaharlal Nehru Port Authority (JNPA), which holds a 74 per cent stake, with the Maharashtra Maritime Board owning the remaini..

HC Questions HYDRAA's Hasty Demolition Orders

Telangana High Court reprimanded HYDRAA commissioner AV Ranganath for rushing to demolish properties in Khajaguda, citing their location in the full tank level (FTL) of Thavutoni (Bhagirathamma) Kunta. The court stayed the eviction of three landowners and warned it might summon the commissioner again. Justice K Lakshman, hearing a petition filed by Mekala Anjaiah and others, questioned the urgency behind demanding owners vacate the 6.2-acre land within 24 hours without proper notice or hearings. The court directed HYDRAA to follow due procedure, issue notices, and hear the petitioners before ..

IREDA Reports 41% Loan Growth in Q3

State-owned Indian Renewable Energy Development Agency (IREDA) reported a 41% increase in loan disbursements, amounting to Rs 172.36 billion in the December quarter of FY24. Provisional figures reveal loan sanctions skyrocketed by 129% YoY to Rs 310.87 billion, compared to Rs 135.58 billion in Q3 FY23. The outstanding loan book surged 36% to Rs 690 billion as of December 31, 2024, against Rs 505.8 billion a year ago, according to the company’s statement. Pradip Kumar Das, Chairman and Managing Director of IREDA, highlighted the agency’s commitment to advancing India's renewable energy tran..