Torrent Power Acquires Stake in Newzone Firms for Rs 2.11 B

29 Sep 2025 CW Team

Torrent Power Limited has acquired shares in Newzone India Private Limited (NZIPL) and Newzone Power Projects Private Limited (NZPPPL) for a total consideration of Rs 2.11 billion. The company will take 1,195,510 shares of NZIPL, representing 49 per cent equity, and 3,000,000 shares of NZPPPL, equivalent to 100 per cent ownership from the Sarawagi family and related HUFs, making Torrent Power the effective owner of both firms.

NZIPL holds around 922 acres of private and government-leased land in Annupur district, Madhya Pradesh, intended for a thermal power project. The acquisition, confirmed to be outside related party transactions, will be executed on a cash basis and is expected to complete within four months. NZIPL was incorporated on 12 October 1999, and NZPPPL on 28 February 2008, both focused on power generation.

In financial updates, Torrent Power posted a 24.7 per cent year-on-year decline in net profit to Rs 7.31 billion for the June 2025 quarter, down from Rs 9.72 billion in the same period last year. Revenue for the quarter fell 12.5 per cent to Rs 79.06 billion, compared with Rs 90.33 billion in June 2024.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..