Apraava Energy acquires Raigad transmission project SPV in Maharashtra
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Apraava Energy has acquired Raigad Power Transmission Ltd, a special purpose vehicle (SPV) set up to develop an intrastate transmission project across Pune and Raigad districts in Maharashtra.
The project involves the setting up of 400 circuit kilometres of transmission lines and a pooling station.
The company said the project will enable reliable power supply to potential pumped storage plants (PSPs) and facilitate the evacuation of 3 gigawatts (GW) of power in Raigad district.
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EverBrands India Ltd, which operates Subway restaurants, has filed draft papers with markets regulator Sebi to raise ₹600 crore through an initial public offering.
The IPO is entirely a fresh issue of equity shares, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.
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An Indian court on Tuesday quashed the food regulator's order to stop Austrian beverage firm Red Bull using the label "energy drink" on its cans, saying the decision had been taken without allowing the company to explain its position.
The decision will come as a major relief for Red Bull, but also Pepsi, Monster Beverage and billionaire Mukesh Ambani's Reliance, which in private had all criticised India's move.
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Tata Trusts on Monday proposed merging Tata Electronics Systems Solutions (TESS) and Tata Consulting Engineers (TCE) into Tata Sons to avoid the holding company's public listing. The objective is to change the holding company’s business mix so that, according to the Trusts, it would no longer qualify as a non-banking financial company (NBDC) or a core investment company (CIC). The proposal still needs Tata Sons board approval and the Reserve Bank of India's (RBI’s) no-objection.
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President Donald Trump announced Essar-backed Mesabi Metallics' $18 billion investment to build a fully integrated American steel company, including what he called the "largest steel plant in American history" in Iowa.
The investment includes a proposed $15 billion steel complex in Iowa and about $3 billion invested in an iron ore mine and pelletizing facility in Minnesota.
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The US’s 100 per cent tariff on specified patented pharmaceutical products and their associated ingredients takes effect for more companies on Tuesday, but qualifying speciality medicines from India will be eligible for zero duty.
The US Department of Commerce’s Bureau of Industry and Security (BIS), in a September 23 notice published in the Federal Register, listed India among 20 jurisdictions eligible for zero-tariff treatment.
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