Linde India buys 26% stake in Avaada MHYavat for over Rs 11 cr

26 Apr 2022 CW Team

Linde India purchased 1.13 crore equity shares or a 26% stake in Avaada MHYavat for Rs 11.40 crore to help its renewable power purchase under the captive mechanism, resulting in a lower tariff and cost savings.

In December 2021, the board had approved a proposal for an aggregate capital expenditure of Rs 28.70 crore for sourcing renewable power for the merchant Air Separation Units owned and operated by Linde India at Taloja in Maharashtra and Dahej in Gujarat and the under-construction air separation plant at Sri City in Andhra Pradesh.

The company plans to enter into joint venture (JV) agreements with the identified solar power generating companies through the Special Purpose Vehicles (SPVs) to be set up in some time to allow as captive consumers of the power.

The board approved Linde India's plan to acquire equity shares in JV SPVs up to 26% with solar and wind power generators for supplying renewable energy to the merchant air separation units.

Linde India recorded a 19.4% increase in its consolidated net profit to Rs 67.83 crore in the fourth quarter (Q4) of December 2021 from Rs 56.80 crore during the same period the previous year.

Its revenue from operations grew 35.4% to Rs 644.15 crore in Q4 December 2021 from Rs 475.4 crore registered in the previous year.

Shares of the company increased by 0.05% to Rs 3,477.60 on the Bombay Stock Exchange (BSE). The company has its appearance in the industrial gases business, providing a complete solution to all businesses for gas supply and related equipment and services. The company is a manufacturer of cryogenic and non-cryogenic vessels and also designs and commissions projects.

Image Source

Also read: Linde launches new C-MATIC robotic trucks

Infrastructure Urban

07 Oct 2025

DDWS, BISAG-N Partner To Build GIS Platform For Water Missions

The Department of Drinking Water and Sanitation (DDWS) under the Ministry of Jal Shakti has signed a Memorandum of Agreement (MoA) with the Bhaskaracharya National Institute for Space Applications and Geo-informatics (BISAG-N), an autonomous scientific society under the Ministry of Electronics and Information Technology (MeitY). The agreement, signed at the CGO Complex, New Delhi, marks a significant step in developing a GIS-integrated decision-support platform for the Jal Jeevan Mission (JJM) and Swachh Bharat Mission (Grameen) [SBM(G)].The platform will strengthen data-driven decision-making..

SAIL Supplies Steel For Indian Navy’s INS Androth

Steel Authority of India Limited (SAIL), the country’s largest public sector steelmaker and a Maharatna company, has supplied the entire requirement of special-grade steel for the INS Androth, commissioned into the Indian Navy on 6 October 2025. The achievement marks a key milestone in India’s naval modernisation journey.INS Androth is the second vessel in the series of Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) corvettes, following INS Arnala, which was commissioned on 18 June 2025.SAIL supplied the full quantity of special-grade steel — including hot-rolled (HR) sheets and pl..

CCI Releases Market Study On AI And Competition

The Competition Commission of India (CCI) has published its report titled Market Study on Artificial Intelligence and Competition, conducted through the Management Development Institute Society (MDIS). The study aims to deepen understanding of India’s AI markets and ecosystems, identify potential competition concerns, and assess existing and emerging regulatory frameworks governing AI systems.Using both primary and secondary research, including literature review, data analysis, stakeholder interviews, and surveys, the study provides a comprehensive view of the AI ecosystem, market dynamics, ..