MES Invites Bids for Solar Project

IEX reports 13.7% spike in annual volume; 110.1 billion units in FY24

The Indian Energy Exchange (IEX) disclosed a notable 13.7% uptick in total volumes, reaching 110.1 billion units (BU) for the fiscal year ending March 31, 2024. The company unveiled its audited standalone financial outcomes on May 15, 2024, spotlighting a robust revenue surge of 16.2% to Rs5.508 billion. Profit After Tax (PAT) for the year marked a commendable ascent of 16.7 %, reaching Rs3.414 billion, while consolidated PAT escalated by 14.7 % to Rs3.508 billion. In the fourth quarter alone, IEX observed a notable 15.5 % surge in total volumes, recording 30.1 BU. Quarterly revenue soared to ..

DLF Expands into Mumbai and Goa with Luxury Homes

DLF, a prominent real estate developer, has unveiled plans to enter the Mumbai and Goa markets this year with luxury residential projects. This strategic move marks DLF's expansion beyond its traditional strongholds, signalling a bold step into high-potential real estate markets.

In Mumbai, DLF intends to launch upscale residential offerings, catering to the city's demand for premium housing. The projects in Goa, known for its scenic beauty and tourist appeal, will similarly focus on luxury homes, targeting affluent buyers seeking exclusive living experiences in a tropical setting.

Piramal Group's subsidary invests Rs 6 bn in Annapurna Finance

Piramal Alternatives, the fund management arm of the Piramal Group, has made a significant investment in Annapurna Finance Private Limited, amounting to Rs billion. This investment includes Rs 3 billion to acquire a 9.85% stake in Annapurna through a secondary purchase of shares, along with an additional Rs 3 million for subscribing to Annapurna's optionally convertible debenture.

“The deal involved a combination of secondary purchase of shares and providing Tier-II capital. The structured capital solution will help fuel the risk-calibrated growth of the company's assets under ma..

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..