Drawing a comparison between Tesla's long-delayed Cybertruck and Ford's plug-in pick up -- F-150 Lightning, Ford CEO Jim Farley took a dig at tech billionaire Elon Musk while announcing a major investment in a solar energy.

According to The Verge, Farley spoke at a Ford plant in Michigan to announce a deal with DTE Energy that both companies billed as the "largest renewable energy purchase from a utility in US history".

Billionaire Anil Agarwal, who is chairman of Vedanta, said on Wednesday that the company was targeting $100 billion in revenue by 2030 as it continued to diversify its operations across the natural resources spectrum.

The company closed 2021-22 (FY22) with a revenue of Rs 1.31 trillion (or nearly $17 billion) — up 51 per cent over the previous year. It has operations across sectors such as oil and gas, zinc, lead, silver, nickel, and copper in India, South Africa, and Namibia.

Srei group firms, which are undergoing bankruptcy proceedings, received three bids on Wednesday — the last date for submission, said sources.

According to sources, Arena Investors LP and VFSI Holdings, an affiliate of Varde Partners, were among those who submitted plans.

Drug firm Pfizer on Wednesday said its Managing Director S Sridhar has resigned from the company.

Sridhar has expressed his intention to take early retirement and has tendered his resignation, the company said in a regulatory filing.

Hindalco Industries Ltd.’s quarterly profit jumped by almost half from a year earlier, underpinned by strong US sales and higher revenue that cushioned the impact of pricier raw materials.

Hindalco on Wednesday reported a 47.7% rise in consolidated profit after tax (PAT) at Rs 4,119 crore for the quarter ended June 30, on the back of strong operational efficiencies. That beat analysts’ estimates for a profit of Rs 2,850 crore.

India Wednesday recorded 16,047 new coronavirus cases and 54 fatalities including six reconciled by Kerala, according to the latest Union Health Ministry data.

With these additions, the country's overall Covid figures rose to 4,41,90,697 cases and 5,26,826 deaths.

The data updated at 8 am showed active cases came down by 3,546 in a span of 24 hours to 1,28,261, now constituting 0.29 per cent of the total infections.

Shares of Tata Chemicals gained nearly 9 per cent in morning trade on Wednesday after the company posted strong first-quarter earnings.

Shares of Tata Chemicals opened on a bullish note at Rs 999.95, then gained further ground to touch Rs 1,043, registering a jump of 8.96 per cent over its previous close.

BENGALURU (Reuters) - India's JSW Energy said on Wednesday that its unit JSW Neo Energy has agreed to buy some renewable energy capacity from Mytrah Energy (India) for about 105.30 billion rupees ($1.32 billion).

The energy unit will buy a portfolio of solar and wind power assets with a capacity of 1,753 megawatts, boosting parent JSW Energy's operational generation capacity by over 35% to 6,537 MW, according to an official statement.

Billionaire Mukesh Ambani for the second year in a row drew no salary from his flagship firm Reliance Industries in the last fiscal as he voluntarily gave up remuneration in light of the pandemic hitting the business and economy.

In its latest annual report, Reliance said Ambani's remuneration for the financial year 2020-21 was "nil".

Shares of Bajaj Finserv hit over three-month high of Rs 15,584, up 3 per cent on the BSE in Monday’s trade. The stock extended its gain after the company approved 1:1 bonus issue and 1:5 stock split in July. The stock traded at its highest level since April 26, 2022. In the past one month, it has rallied 30 per cent, as against 8 per cent rise in the S&P BSE Sensex.

Bajaj Finserv is primarily engaged in promotion of financial services such as insurance, broking, investments etc. It is a financial conglomerate with holding in financing business (Bajaj Finance), life insurance (Bajaj Life Insurance) and general insurance (Bajaj General Insurance) business.

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