Saturday, August 29
JSW Energy on Friday said its arm JSW Energy (Utkal) Ltd has signed a Power Purchase Agreement (PPA) with multiple Karnataka discoms for supply of 400 MW of power, starting April 1, 2026. The electricity will be supplied for a tenure of 25 years at a tariff of Rs 5.78 per kWh, a JSW Energy statement said. With this PPA, JSW Energy's open capacity reduces to 5 per cent of the current operational capacity from about 8 per cent, further strengthening long-term revenue visibility and de-risking the company's generation portfolio. The company's total locked-in generation capacity now stands at 30.5 GW, comprising 13.3 GW of operational capacity, 12.4 GW under construction across thermal and renewable projects, 150 MW of hydro capacity under acquisition, and a 4.6 GW development pipeline. It als
India’s decision to allow 100% foreign direct investment (FDI) in insurance marks one of the most consequential reforms in the country’s financial sector in recent years. The much-anticipated move was approved by the Union Cabinet led by Prime Minister Narendra Modi on Friday, sources told ET. As the government opens the floodgates for foreign capital, this economic reform will directly touch millions of people. *This is a watershed moment for the Indian insurance landscape. Allowing 100% FDI is a strong signal of confidence in the sector's potential and commitment to economic reforms. This move will not only boost foreign investments but also fundamentally improve the quality and reach of insurance services for every Indian citizen," said Narendra Ganpule, Partner and Insurance Indust
Lloyds Engineering Works (LEWL) on Friday announced the incorporation of a subsidiary 'Lloyds Advance Defence Systems' as a strategic push into the defence sector. This marks a definitive step in its roadmap to become a significant player in the defence landscape. Lloyds firmly believes that the defence vertical holds immense strategic importance and offers substantial growth potential for the future, the company said in a regulatory filing. The newly incorporated wholly-owned subsidiary Lloyds Advance Defence Systems Ltd. is dedicated exclusively to the rigorous demands of the sector enabling agility, specialised compliance, and a concentrated approach to indigenous manufacturing. "LEWL believes that this strategic synergy of global technology and robust local execution will serve as a c
