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Adani Energy Solutions Ltd (AESL) will be in focus on Monday after it secured a Rs 2,800 crore power transmission project in Gujarat. According to an exchange filing, the project will supply green electrons for the production of Green Hydrogen and Green Ammonia at Mundra in Gujarat. This marks AESL's sixth order win for the fiscal year, bringing its total order book to Rs 57,561 crore.

Subscribe to enjoy similar stories. Indian trade officials are pushing their American counterparts to stitch their recent critical minerals deal into an upcoming trade agreement, two people aware of the discussions said, a tweak that may unlock US tax benefits for electric vehicles and batteries using these scarce resources.

Hindustan Copper aims to generate around Rs 2,400 crore revenue over the next 20 years from its recent contract with a JSW Group firm which has been appointed as a mine developer and operator for two blocks in Jharkhand, a top company official said on Sunday. JSW Group's South West Mining Ltd (SWML) secured a contract on a revenue-sharing basis in January through a competitive bidding process for Rakha copper mining, comprising two blocks — Rakha and Chapri — in Jharkhand, for a period of 20 years, extendable by another 10 years. «The contract is an important development and key to the revival of Jharkhand operations. It is on a revenue-sharing basis. We estimate earning a revenue of around Rs 2,400 crore over the next 20 years,» Hindustan Copper Chairman and Managing Director (CMD) Sanjiv Kumar Singh told PTI in his first interaction after assuming the charge. Singh, who took over as the chief of the Kolkata-based PSU on Friday, was the director (mining) since 2022 and was also holding additional charge of director (operation) until early March.

startups have raised Rs 286 crore in funding from investors, a top official of the organisation said. While speaking at an event, Software Technology Parks of India (STPI) director General Arvind Kumar said the organisation, formed under the Next Generation Incubation Scheme (NGIS) of the Ministry of Electronics and IT, has given early-stage seed capital of Rs 30.87 crore to 136 startups and financially incentivised 359 others through a stipend amount of Rs 3.57 crore. «Amongst these supported startups, 134 have also been able to raise external funding from an investor community comprising angels and venture capitalists of about Rs 286 crore, which is not only a validation of their business but also the testament of the progress made by these startups,» Kumar said during the STPI Sangam event on Friday. «I am proud to share that 44 per cent of STPI's startup portfolio consists of women entrepreneurs, many of whom come from Tier-2 and Tier-3 cities. We are not just honouring startup success stories today; we are also reflecting on how we can improve, refine our policies, expand our outreach, and ensure that our startup ecosystem reaches its full potential,» Kumar said.

electronics and automobile sectors, Union Finance Minister Nirmala Sitharaman said. Addressing an event organised by Chennai Citizens' forum on Saturday evening, Sitharaman dismissed charges of the state government that the Centre has neglected Tamil Nadu in terms of funding. She said major 'big ticket' projects have been announced and are progressing at various stages of implementation across the State. «Tamil Nadu has been the largest beneficiary under the PLI- scheme in electronics, electronic parts and automobiles. Out of the 27 companies that have received approval from the Centre, 7 are based out of Tamil Nadu,» the Union Minister of Finance and Corporate Affairs noted. Sitharaman highlighted that 25 per cent of the companies availing benefits from the PLI scheme are from the state, she said drawing applause from the audience at the M O P Vaishnav College in the city. Without naming the government or any individual, she rejected claims that the state received minimal revenue from central taxes. «These people arrive at a calculation that the Centre was giving a minimal amount of revenue from the central taxes. I really do not know how they pose such an argument. All I have to say is that the State has been a beneficiary in various central schemes and sector specific initiatives in the last 10 years.» She also pointed out that Tamil Nadu hosts one of the country's two major electronic parts manufacturing clusters, alongside Gujarat. An allocation of Rs 1,100 crore has been made for setting up the cluster in Tamil Nadu.

Production-Linked Incentive (PLI) schemes for ten sectors, including electronics and pharma, since the launch of the support measure to boost domestic manufacturing, an official statement said on Saturday. In 2021, the government announced Production-Linked Incentive (PLI) schemes for 14 sectors like telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharma, with an outlay of Rs 1.97 lakh crore. «The incentive amount of around Rs 14,020 crore disbursed under PLI schemes for 10 sectors,» the commerce and industry ministry said.

strong upside potential for silver at the beginning of March, and since then, the price of future contracts has risen by 6.6%. As mentioned in the previous article, one of the major data points supporting silver’s upside potential is the Silver-to-Gold ratio. Excluding the COVID-period decline, the current ratio of 1.09% is near a 30-year low. Gold, which has moved up phenomenally, has also paved the way for silver to gain momentum, as it closely follows in the precious metals category.

non-resident Indians (NRIs) those who claimed benefit of lower or nil rate of taxation under the Double Taxation Avoidance Agreement (DTAA) are receiving income tax notice(s) for failing to file Form 10F. The Income Tax Act, 1961, allows NRI taxpayers to declare their income and file ITR by applying for lower or nil rate of income tax (in some cases) under DTAA. For availing the benefit of lower or nil taxes under DTAA, NRIs must submit a Tax Residency Certificate (TRC) and Form 10F. This form could be filled any time before filing Income Tax Return (ITR). As per the existing Indian tax law, there is no deadline to file Form 10F and it can be filed electronically by all NRIs who may or may not have a PAN card. The mentioned income tax notice given to NRIs read as follows: “Incorrect claim u/s 143(1)(a)(ii): Adjustment to total income has been done as per Schedule Capital gains & Special Income, and for this DTAA benefit is to be claimed then relevant statutory form shall be filed. This required adjustment to the income within the meaning of Section 143(1)(a) and accordingly this is an opportunity provided to respond within the time allowed.”

capital markets regulator Sebi to raise Rs 550 crore through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of Rs 250 crore by promoters and promoter group entities, according to the draft red herring prospectus (DRHP) filed on Thursday. At present, promoters and promoter group entities hold 100 per cent stake in the company.

«As far as other two-wheelers are concerned, by and large, they are doing reasonably well. We have to keep focusing from long-term on Bajaj. I do not see much of a problem there,» says Sudip Bandyopadhyay, Group Chairman, Inditrade Capital. Want to get your view on this entire auto space because today we have news flow coming in from Ola Electric on one end. On the other side, over the last couple of days, we have seen major auto players announcing price hikes that they will be rolling in from next month. How much do you think this price hike could aid the bottom line of these auto companies for FY25 and what is the outlook on the sector in general? Sudip Bandyopadhyay: The auto price hikes are definitely good news as far as the industry is concerned. Obviously, it kind of shows that there is demand, that is how the manufacturers are taking the risk of hiking prices.

Subscribe to enjoy similar stories. New Delhi: India's auto parts manufacturers are bracing for an uncertain future, as large automakers boost production of electric vehicles (EVs) at the expense of petrol and diesel models, in a shift that is transforming the requirements for components and increasing the role of technology.

Subscribe to enjoy similar stories. The billionaire-led Berkshire Hathway earlier this week disclosed it had increased its shareholding in Japan’s five biggest trading houses. The Omaha-based conglomerate hiked its stake in Mitsui to 9.82%, in Mitsubishi to 9.67%, in Itochu to 8.53%, in Marubeni to 9.3% and in Sumitomo to 9.29%.

DCM Shriram Industries Ltd.(up 4.10%), Bannari Amman Sugars Ltd.(up 3.82%) and Balrampur Chini Mills Ltd.(up 0.22%) stood among the top gainers.

AI for All' mantra is backed by concrete action with the country leading in AI skill penetration and talent concentration, Union Minister Jitin Prasada said on Thursday as he urged industry leaders to prioritise research and development (R&D) to capitalise on India's position as a global skill capital. Prasada, Union Minister of State for Ministry of Commerce & Industry and Ministry of Electronics & Information Technology, was delivering a keynote address at the Nasscom Global Confluence 2025. «Our mantra 'AI for All' is backed by concrete action. India is number one in the world in AI skill penetration — the AI skill index even outstrips the US and Germany. »It's just not about numbers, it's about impact. As nations across the globe embrace digitalisation to modernise traditional sectors and fuel economic growth, India stands ready to be a strategic technology partner," the minister asserted.

Delhi Transport minister Pankaj Kumar Singh said the e-bus service will operate from Sarai Rohilla, Anand Vihar and Kamla Market. However, the frequency and the routes will be decided later, a senior official told TOI. «The buses will not drop passengers at a location near the airport, but will go to the airport terminal,» he added. Currently, Delhi Transport Corporation (DTC) operates bus services to Indira Gandhi International (IGI) Airport. It also maintains bus services between Delhi and Noida across 12 routes, extending to Noida Electronic City. Initially, the buses will be introduced on a trail run to assess daily passenger traffic. More buses will be added after a few months of evaluation. Women can travel for free with ‘pink passes' while men may face a modest fare increase.

Ajay Bagga, Market Expert, says it will not be very politically prudential or possible to bring the value chains back into the US. But when it is organised chaos and insanity as a stated policy, it is very difficult then for markets and it turns volatile. So, April 2nd is a very big event risk. That might just end with a whimper and get postponed for another three months, and that means volatility will again get enhanced. Yesterday, the Bank Global Manager survey showed 55% are putting the risk of a global recession because of Trump trade wars as the biggest risk. Bagga says by June, a bottom should be in place. Price wise, 21,800 was probably a bottom price level. Now from here, markets could go down in the very short term on some event risk, but fundamentally, we are better off than we were in September. Let us first address the big market setup. The markets are finally rebounding. Is relief finally on the anvil or there is more concern on the horizon? Have we bottomed out? Ajay Bagga: It is difficult to say that we have bottomed out but if we look at the macro, we are much better off than we were in September.

Subscribe to enjoy similar stories. Mumbai: Global private equity firm TPG Capital and Singapore government’s sovereign wealth fund GIC have entered the race to acquire up to 49% stake in the Indian operations of Chinese consumer durables maker Haier, four people aware of the development said. While TPG has teamed up with the Burman family, GIC is bidding along with the Goenka family of the Welspun Group, these people said.

defence stocks attracted strong investor interest, with gains of up to 19%. Garden Reach Shipbuilders & Engineers led the rally, followed by Ideaforge Technology, Mazagon Dock Shipbuilders, Bharat Dynamics, and Cochin Shipyard, which saw gains ranging from 8% to 14%. There were no losers in the 16-stock Nifty India Defence Index which was 5% higher today.

Samsung Electronics said on Wednesday it is looking to drive growth as it faced tough questions from shareholders after its failure to ride an artificial intelligence boom made it one of the worst-performing tech stocks last year. The South Korean firm has been suffering from weak earnings and sagging share prices in recent quarters after falling behind rivals in advanced memory chips and contract chip manufacturing, which have enjoyed strong demand from AI projects. «I have never been to a Samsung AGM since I became its shareholder in 2000, but I wanted to see what executives have to say (this time) and what they will do,» a 65-year old shareholder who only gave his family name, Lee, told Reuters ahead of the meeting. «They should go all-in on the memory chip business, where they can excel, or do something about the foundry,» he said. In internal meetings, Samsung has acknowledged it has lost ground. This is particularly true in semiconductors, where it lags SK Hynix in high bandwidth memory (HBM) chips that Nvidia and others rely on for AI graphic processing units.

The moves come as India Inc faces a severe dearth of C-suite talent in the semiconductor space due to the absence of any fab or a robust semiconductor ecosystem in the country, leaving these companies to rely exclusively on hiring expats for senior roles, the experts said. For instance, Tata Electronics tapped Intel's Foundry Services president Randhir Thakur as its CEO and MD while Murugappa Group's CG Semi roped in Filipino semiconductor industry veteran Jerry Arucan Agnes as CEO. The extended list includes past hires such as Vedanta which hired David Reed as CEO of semiconductor business and YJ Chen as CEO of display business in 2023.

inter-ministerial committee to address issues being faced by the country’s fintech industry that has run into multiple regulatory hurdles over the past few years. The committee comprises representatives from the Department of Financial Services, Department of Economic Affairs, NITI Aayog, Ministry of Electronics & Information technology (MeitY), Department for Promotion of Industry and Internal Trade (DPIIT), Department of Economic Affairs (DEA), the Reserve Bank of India, markets regulator Sebi and founders of fintech firms Billdesk, Acko General Insurance, Groww, and Jupiter. ET has reviewed an order for the same issued by the financial services department on March 17.