Lakshadweep's solar storage yields Rs 2.5 billion savings

HDFC Opens First Branch in Lakshadweep

HDFC, one of India's leading private banks, has achieved a significant milestone by becoming the first private bank to establish a branch in the pristine archipelago of Lakshadweep. This strategic move not only marks a historic moment for HDFC but also brings enhanced banking services closer to the residents of this beautiful island territory.

Lakshadweep, known for its stunning coral reefs and crystal-clear waters, has long been in need of expanded banking facilities to cater to the financial needs of its inhabitants. With HDFC's inauguration of its branch, residents and businesses al..

Budget Boost for Port Development

In a significant move to bolster maritime infrastructure and promote tourism, the government has allocated a substantial budget for the development of ports, including those in the scenic archipelago of Lakshadweep. The allocation aims to enhance connectivity, boost economic activities, and unlock the tourism potential of these regions.

The financial commitment underscores the government's commitment to strengthening coastal infrastructure, a key driver for economic growth and tourism. The funds are expected to facilitate the creation of modern facilities, improve port efficiency, and ..

AAI hikes spend by 25 per cent on capex

Airport Authority of India (AAI) plans to spend Rs.50 billion annually on capital expenditure in the coming years with a strong pipeline of projects, Sanjeev Kumar, Chairman, AAI, said. While new terminals are being built and capacity is being expanded at various airports to handle extra flights, AAI is also working on a roadmap for expansion of Agatti airport in Lakshadweep.

He said that as against the capex target of Rs.40 billion in FY 2023-24, AAI till December 2023 has achieved capex of Rs.34.16 billion. He said that it will be surpassing the target of Rs.40 billion and touch a c..

Adani Energy Acquires Essar's Transmission Assets

Adani Energy has finalised the acquisition of Essar's Mahan and Sipat transmission assets for a sum of Rs 1900 crore. This significant move underscores Adani's strategic expansion within the energy sector and consolidates its position as a key player in India's power transmission domain.

The acquisition of Essar's transmission assets represents a strategic investment for Adani Energy, enabling the company to augment its infrastructure and bolster its transmission network. With the addition of these assets, Adani strengthens its operational footprint, enhancing its capacity to deliver r..

IEX Q4 Net Profit Grows 9.5%

The Indian Energy Exchange (IEX) has reported a significant uptick in its net profit for the fourth quarter, marking a notable growth of 9.5%. This financial performance underscores the resilience and strength of the company's business model in navigating through dynamic market conditions within the energy sector.

The impressive growth in net profit reflects IEX's robust operational performance and effective strategic initiatives aimed at enhancing efficiency and driving sustainable value creation. As a leading power trading platform in India, IEX plays a pivotal role in facilitating t..