Adani Group, one of India’s leading conglomerates, has announced a massive investment of Rs 2.3 lakh crore in renewable energy expansion and solar and wind manufacturing capacity. Despite facing a short-seller attack, the group is determined to pursue its growth plans. Adani Green Energy, a subsidiary, will invest Rs 1.5 lakh crore to increase its capacity to generate electricity from solar energy and wind power in Gujarat’s Kutch region. Additionally, Adani New Industries Ltd will invest Rs 30,000 crore in expanding solar cell and wind turbine manufacturing capacity in Gujarat.
In other news, India’s coal imports have increased by 13% in February, reaching 21.64 million tonnes. This rise in imports is attributed to the growing demand for non-coking coal in the country. Vodafone Idea, a telecom company, has approved raising Rs 2,075 crore from its promoter, Aditya Birla Group, to fund its operations and reduce debt. The company plans to raise a total of Rs 45,000 crore through a mix of equity and debt.
The National Stock Exchange of India is investigating alleged manipulations in the SME market following concerns raised by the Securities and Exchange Board of India chairperson. The exchange has also cautioned investors against deepfake videos featuring its CEO giving stock recommendations. Apple has issued a warning to users in India and other countries about potential exposure to spyware similar to Pegasus, urging them to take the threat seriously.
In the auto sector, fashion brand Huem and motorcycle brand Royal Enfield have collaborated to launch ‘A Shot of Mumbai’ collection, inspired by the Royal Enfield Hunter 350. The collection features apparel and helmets designed to reflect the spirit of exploration and adventure on two wheels.