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The Economic Times

TRAI seeks views on pricing for spectrum allocation without auctions to OneWeb, Starlink and other global players

The Telecom Regulatory Authority of India (Trai) is seeking views on the pricing and allocation of satellite spectrum for companies like Eutelsat OneWeb, Amazon's Kuiper, and Starlink. The discussion paper addresses whether spectrum should be charged per MHz or as a percentage of adjusted gross revenue (AGR), aiming to ensure fair competition with terrestrial telecom providers.

The Economic Times

Trai seeks views on Satcom spectrum allocation and pricing methodology

Telecom regulator Trai has initiated a consultation process to determine the methodology and pricing for assigning spectrum to satellite companies in India. This move will facilitate satellite-based broadband services from firms like Starlink, OneWeb, and Jio Satellite Communications. The consultation seeks views on spectrum assignment methods and related terms.

The Economic Times

NSE, BSE revise transaction fees; new charges effective from October 1

NSE, BSE has updated transaction charges today following a Securities and Exchange Board of India (Sebi) circular issued on July 1, 2024, in relation to charges levied by Market Infrastructure Institutions (MIIs). The circular directed MIIs that its charge structure should be uniform and equal for all its members instead of the current slab-wise structure, which is dependent on volume of the trading members.

Business Standard

Authum, Mahi Kela to acquire 46.85% stake in Prataap Snacks for Rs 846.6 cr

Authum Investment & Infrastructure, along with Mahi Madhusudan Kela, will acquire a 46.85 per cent stake in Prataap Snacks, the Indore-based packaged foods company that owns the snack brand Yellow Diamond and sweet snacks brand Rich Feast, in a deal valued at Rs 846.60 crore. They have entered into a share purchase agreement on Thursday to acquire the entire 46.85 per cent shareholding, which is around 1.02 crore equity shares, from its three Private Equity promoters, according to an early morning filing by Prataap Snacks. The three Private Equity promoters -- Peak XV Partners Growth Investments I, Peak XV Partners Growth Investment Holdings II and Sequoia Capital GFIV Mauritius Investments hold stakes of 2.48 per cent, 34.65 per cent, and 9.72 per cent, respectively. "The acquirer and PAC (Persons Acting in Concert) have entered into a share purchase agreement dated September 26, 2024, with the sellers, pursuant to which the acquirer has agreed to acquire from the sellers 1.02 ..

Mint

PNC Infra, Ashoka Buildcon, IRB Infrastructure others in focus as order inflows are catching pace

Stock Market Today: Ashoka Buildcon, PNC Infratech, IRB Infrastructure and others share prices are in focus as order inflows for road construction that had remained subdued during first quarter are is seeing some improvement.

The Economic Times

NBCC bags Rs 75 crore contract for IIIT Nagpur infrastructure expansion

NBCC (India) Ltd has secured a Rs 75 crore contract to build additional infrastructure at the Indian Institute of Information Technology, Nagpur. This project includes constructing an Academic Block B, a canteen for 200 students, and a multi-purpose hall for up to 1,000 people. The development aims to enhance educational facilities at the institute.

The Economic Times

There’s a lot of excitement about Meta AI in rural India: global chief product officer Chris Cox

While aiming to build AI compute capacity, India should also invest in building the right infrastructure needed to support it, such as clean energy, said Cox, 42, who joined Facebook in 2005 as one of the first 15 engineers at the company and became chief product officer in 2014.

The Economic Times

Tourism for Viksit Bharat: Vision of our first 'Incredible Indian'

Over the past decade, India's tourism sector has seen significant growth under the leadership of the Prime Minister. Infrastructure improvements, such as new air routes and high-speed trains, have boosted domestic tourist visits. The development of destinations like Ekta Nagar showcases the government's commitment to enhancing tourism offerings.

The Economic Times

HDIL Promoter Wadhawan approaches NCLT seeking reconduct of insolvency process

Rakesh Wadhawan, former promoter of Housing Development & Infrastructure Ltd, has approached the National Company Law Tribunal to restart the company's corporate insolvency resolution process. He claims the company's assets, including intangible ones, were undervalued and seeks to submit a new resolution plan. The defunct realty firm reportedly holds significant land and Slum Rehabilitation Authority rights in Mumbai.

Business Standard

IndiGrid unitholders approve move to raise Rs 695 cr via preferential issue

Infrastructure investment trust India Grid Trust on Thursday said it has received unitholders approval to raise up to Rs 695 crore through a preferential issue. During an extraordinary meeting held on Thursday, the unitholders gave their go-ahead for "issuance of units on a preferential basis for an aggregate consideration of up to Rs 695 crore", according to a regulatory filing. IndiGrid is India's first and largest Infrastructure Investment Trust (InvIT) in the power transmission sector. It owns, operates, and manages power transmission networks and renewable energy assets that deliver reliable power throughout India. As per its website, its assets under management (AUM) stand at Rs 29,255 crore. It has 22,550 MVA electricity transformation capacity.

Business Standard

Tata Electronics, PSMC sign pact for Rs 91,000 cr chip manufacturing unit

Tata Electronics on Thursday said it has concluded an agreement with Taiwan-based Powerchip Semiconductor Manufacturing Corporation, which will provide technology support for the Dholera wafer fab of the Indian tech major. As per the agreement, PSMC will provide design and construction support to build India's first AI-enabled greenfield fab in Gujarat, license a broad portfolio of technologies and provide engineering support to the fab unit. "We are pleased to partner with PSMC, whose technology and expertise will significantly accelerate our roadmap to pioneer semiconductor manufacturing in India. It will position us to play a key role in the growing semiconductor market to serve global customers," Tata Sons Chairman N Chandrasekaran said. The company is setting up a chip manufacturing unit in Dholera at an investment of up to Rs 91,000 crore ( about USD 11 billion). "Tata Group's multi-fab vision for Dholera is projected to create over 1,00,000 skilled jobs," the statement ...

Business Standard

NCLAT gives go-ahead to IECCL resolution, delinks with other IL&FS cos

The NCLAT on Thursday gave a go-ahead to the insolvency resolution of IL&FS Engineering and Construction Company Limited (IECCL) and delinked it with the other listed loss-making companies of debt-ridden IL&FS. However, the National Company Law Appellate Tribunal (NCLAT) also clarified that ICICI-led consortium, which is opposing the IECCL resolution, would have the liberty to press for its "objection on the extinguishment of its entire debt, or mere payment of 42.25 per cent shareholding of IECCL in the ongoing resolution process." IL&FS, which owns 42.25 per cent of IECCL, is selling a stake in the company and has invited bids under the Swiss Challenge method. It has received a binding bid from a prospective buyer and voting by lenders is expected to be completed by September 30, 2024. The consortium led by ICICI has opposed the proposal before the NCLAT, where IL&FS has filed an application seeking its permission to sell its stake with a "haircut" and without ...

Business Standard

India doing well in infra; needs to do more to boost manufacturing: Rajan

India has done well in areas like infrastructure in the last 10 years, but it also needs to do more in other sectors to boost local manufacturing and job creation, former RBI Governor Raghuram Rajan said on Thursday. In an interview with PTI, Rajan further said the government's focus on production, whether it is goods or services is a good thing, but it is also important to do it the right way. Responding to a question on the Modi government's flagship initiative 'Make in India', he said, "I would say the intention is good. I think in some areas, we have done a lot, as I said, in infrastructure...we have done a lot that has been very useful". The Modi government's flagship initiative 'Make in India' was launched 10 years ago on September 25, 2014. "But we need to check the other places. And the best way to check is to ask critics, what do you think? What has happened? Has it happened the way you want it? Should we do more? You get feedback, and then you work along," Rajan said. T

CNBC TV18

India's largest cement company believes industry is at the cusp of a turnaround

In its annual report earlier this year, UltraTech said the demand for cement is projected to grow 7-8% in the current financial year, helped by an increase in construction activities throughout the country.

CNBC TV18

This PSU remains a 'conviction buy' for an analyst despite 34% drop from peak

Elara notes that for a high-growth and superior asset quality play like Hudco, this is just the initial phase of the long-drawn fundamental journey riding on India’s housing and urban infrastructure story.

Mint

JSW INFRASTRUCTURE share are down by -0.4%, Nifty up by 0.26%

JSW INFRASTRUCTURE Share Price Today on 26-09-2024: On the last trading day, JSW Infrastructure opened at ₹340 and closed at ₹338.7. Throughout the day, the stock reached a high of ₹342 and a low of ₹335.45.

The Economic Times

India focused on urban infrastructure, e-mobility, and renewable energy for growth: FM Sitharaman

Finance Minister Nirmala Sitharaman emphasized the need for sustainable infrastructure amid climate change and geopolitical tensions at the AIIB meeting in Samarkand. She urged AIIB to support countries facing debt burdens and highlighted India's focus on urban infrastructure, e-mobility, and renewable energy as key growth drivers.

The Economic Times

SaaS fintech firm Zaggle picks up 26% stake in Mobileware Technologies

This investment of Rs 15.6 crore will let Zaggle leverage Mobileware’s expertise and infrastructure to strengthen its payment offerings, which are now used by over 80 banks and 20 fintech firms. These payment offerings include UPI, IMPS, AePS, BBPS, and its proprietary API banking platform, TransXT.

Business Standard

Trai to discuss OTT apps regulation; expedite Satcom framework: Chairman

Telecom regulator Trai will expedite the process for satellite spectrum pricing before taking up the issue of regulation for over-the-top apps like WhatsApp, Telegram, and Google Meet, Trai chairman said on Wednesday. A consultation paper on pricing for Satellite Spectrum will issued in the next few days, Telecom Regulatory Authority of India (Trai) Chairman RC Lahoti said. "OTT was not part of this paper (Service Authorisation Framework under Telecommunications Act 2023). It is being discussed separately. Right now, we have to take up spectrum pricing on a priority basis," Lahoti said. He said that Trai will explore if OTT apps need to be regulated under the Telecommunications Act 2023. Telecom operators have expressed concern over Trai's recent recommendation on a new regime that proposes to allow the provisioning of telecom service using single authorisation instead of a license, which was the norm under the old regime. Lahoti said Trai has only recommended the framework that

The Economic Times

Trai to discuss regulation for OTT apps separately; prioritise Satcom spectrum framework: Chairman

Telecom regulator Trai will prioritize satellite spectrum pricing before addressing regulation for OTT apps like WhatsApp and Telegram. A consultation paper on satellite spectrum pricing will be issued soon. Trai has recommended a new framework under the Telecommunications Act 2023, simplifying service authorizations and reducing costs for providers.

Business Standard

Adani Energy Solutions, Green Energy join Utilities for Net Zero Alliance

Adani Green Energy and Adani Energy Solutions have joined the Utilities for Net Zero Alliance, a joint statement said on Tuesday. Utilities for Net Zero Alliance (UNEZA) was established at COP28 with the adoption of the UAE Declaration of Action. The alliance unites leading global utilities and power companies to spearhead the development of grids that are ready for renewable energy, promoting clean energy solutions and advancing electrification efforts. Adani Green Energy Ltd (AGEL) and Adani Energy Solutions Ltd (AESL) have become the first in their respective segments in India to join this global alliance, the statement said. As a member of UNEZA, AGEL will focus on areas like the build-out of clean power, enhancement of energy security and improvement of energy efficiency, whereas AESL will redouble its efforts towards developing a reliable grid infrastructure for green energy transmission and distribution. Both AGEL and AESL aim to achieve net zero emissions by 2050.

Business Standard

India hub driving global AI innovation; new campus plans on track: SAP Labs

SAP labs India, the biggest R&D hub for German software maker SAP outside its headquarters, is sharply focused on driving global AI innovations from here, managing director Sindhu Gangadharan said adding that plans for opening a new, sprawling campus in Bengaluru are on track. SAP Labs India is on an expansion drive and the construction of the first of the three phases of a new campus in Bengaluru is already underway, another company official said adding the first phase entailing a capex of Euro 80 million is expected to be completed by Q2 of 2025. Gangadharan said that AI and GenAI (generative AI) have triggered an "incredible" business transformation, enabling companies to leverage the new-age technologies to reimagine customer experiences and processes, she said asserting that India with its talent and skillset has the power to lead AI innovations. SAP Labs India is focusing on Custom AI and multi-agent AI technology to drive the next wave of business transformation for its ...

Business Standard

NBCC moves SC to complete stalled projects of realty major Supertech Ltd

The state-owned NBCC on Tuesday moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years. These 17 projects were launched in the National Capital Region, Dehradun and Bengaluru but completion of the residential units was hit due to financial crisis faced by the realty major which led to insolvency proceedings since 2021. A bench of Justices Sanjiv Khanna and Sanjay Kumar was told by advocate ML Lahoty, appearing for the hassled home buyers, that the National Buildings Construction Corporation Ltd (NBCC) has come forward with a proposal to complete these stalled projects having around 51,000 residential units. Senior advocate Gopal Jain, appearing for NBCC, said the public sector undertaking has filed an intervention application in a matter related to insolvency proceedings of Supertech Ltd to develop the stalled project on the lines of Amrapali

The Economic Times

CrowdStrike exec to apologise for faulty update that caused global IT outage

Adam Meyers, senior vice president for counter adversary operations at CrowdStrike, will tell the House Homeland Security Cybersecurity and Infrastructure Protection subcommittee that CrowdStrike released a content configuration update that resulted in system crashes for many customers.

Mint

Popular Foundations shares make tepid debut on BSE SME, list flat at ₹37

Shares of Popular Foundations, a company specializing in engineering and construction activities with comprehensive end-to-end solutions in the construction sector, made a muted debut on the BSE SME platform today, listing at the same price as the IPO of ₹37.

The Economic Times

Adani Green Energy, Adani Energy Solutions join UNEZA

Adani Green Energy and Adani Energy Solutions have joined the Utilities for Net Zero Alliance, established at COP28. This alliance unites global utilities to promote renewable energy and electrification. AGEL will focus on clean power and energy efficiency, while AESL aims to develop reliable grid infrastructure. Both companies target net zero emissions by 2050.

The Economic Times

Slower deposit growth pushing banks to raise funds from bonds: Icra report

Banks are expected to raise up to Rs 1.3 lakh crore from bond issuances in FY25 due to slower deposit growth and higher credit demand, according to a report by Icra. Public sector banks will dominate the market, driven by an appetite for infrastructure bonds amidst tight liquidity conditions.

The Economic Times

India's power sector has potential of Rs 40 trillion investment over next decade: Motilal Oswal

India's power sector presents investment opportunities worth over Rs 40 trillion in the next decade, driven by rising power demand, infrastructure upgrades, and a shift to cleaner energy. Electric vehicles and data centers are expected to significantly contribute to this growth by 2035. India's energy consumption trends mirror China's early 2000s trajectory.

Business Standard

RPower seeks shareholders' nod to raise Rs 1,525 cr via preferential issue

Reliance Power will seek shareholders' approval to raise Rs 1,524.60 crore through a preferential issue. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company at a price of Rs 33 per share/warrant. The e-voting period that commenced earlier on Tuesday, will end on Wednesday, October 23, 2024. The result of the postal ballot will be announced on or before on Friday, October 25, 2024. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through a preferential issue where promoters will pour Rs 600 crore into the company to advance its business. Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Finan

Mint

Jairam Ramesh raises alarm on SBI move to become stakeholder in Supreme Infrastructure, ‘RBI must step in and examine…’

Congress has expressed concern over the State Bank of India's decision to convert its debt in Supreme Infrastructure India into equity, urging the RBI to investigate the move, which they believe sets a dangerous precedent in corporate debt management.

Business Standard

India to sign Bilateral Investment Treaty with Uzbekistan

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman will embark on an official visit to Uzbekistan from 24th to 28th September, 2024. The Union Finance Minister will lead the Indian delegation of officials from the Ministry of Finance. During the visit, Sitharaman will attend the Ninth Annual Meeting of Board of Governors of Asian Infrastructure Investment Bank (AIIB) scheduled in Samarkand on 25th and 26th September 2024, besides other important bilateral meetings with her counterparts from Uzbekistan, Qatar, China, and AIIB President.

The Economic Times

Operational tech roles log 20% surge in demand

Infrastructure projects, particularly the government's smart city initiative, have spurred an 11% rise in OT hiring, Sharma said. The focus on process automation and regulatory compliance in the chemical and pharmaceuticals sector resulted in an 8-10% growth in OT positions. Smart manufacturing and autonomous vehicle technologies in the automotive sector led to a 12% increase.

The Economic Times

Thermal capacities needed till RE supply matches demand: Power Minister

Union Minister Manohar Lal emphasized the need for new thermal power capacities due to insufficient green power supply. He stated that any reduction in thermal installations can only be considered after 2030. The government plans to add 80 GW coal-based capacity by 2031-32 and has outlined extensive infrastructure development plans.

The Economic Times

Edelweiss-owned Sekura acquires O2 Power's MP assets for Rs 2k cr

Sekura Energy, owned by Edelweiss Alternatives, has acquired 350-MW operational assets of O2 Power for Rewa Ultra Mega Solar in Madhya Pradesh at an enterprise value of Rs 2,000 crore. O2 Power, a renewable energy platform by Temasek and EQT Infrastructure, has a portfolio of 3.7 GW including 1.3 GW operational capacity.

Business Line

Reliance Power board approves ₹1,525 cr preferential issue

Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs ₹600 crore.

Business Standard

Reliance Power to raise Rs 1,525 crore through preferential issue

Parent entity Reliance Infrastructure to increase equity in R-Power by Rs 600 crore

Business Standard

Thermal capacities needed till RE supply equals demand: Power minister

There is a need to continue with installation of new thermal capacities as the supply of green power is not in line with demand, Union Minister Manohar Lal said on Monday. He also said that any call on reducing installation of thermal capacities can only be taken after 2030. The union power minister made the remarks at an event to brief 100-day achievements of the Modi-3.0 government in the national capital. "Till the supply of renewable energy does not matches the demand, it seems necessary to increase the capacity of thermal plant in the country, and reduce its installation gradually. But till 2030-35, We have to take these (thermal projects) ahead," Lal said. The government is looking to set up an additional 80 GW coal-based capacity by 2031-32. According to Power Secretary Pankaj Agarwal, in 100 days of the present government, 12800 MW or 12.8 GW capacity has been awarded for construction, while 28 GW is under progress. The minister further said that the National Electricity

The Economic Times

PM Modi showcases India’s tech prowess during US visit: key takeaways

The prime minister also addressed the Indian American community about India’s Digital Public Infrastructure (DPI) and initiatives for domestic semiconductor production. The CEOs acknowledged India’s increasing prominence as a global technology hub, attributing this to its innovation-friendly policies and burgeoning market opportunities.

The Economic Times

It's a wrap! ET Soonicorns Summit 2024 ends on a song

The post-lunch sessions of ET Soonicorns Summit 2024 covered the spectrum from the dos and don'ts of soonicorn funding and the intersections of fitness and health tech to AI's ethical conundrum, all things SaaS, and the challenges faced by Indian green tech companies

CNBC TV18

PSP Projects bags new construction orders in Bengaluru and Ahmedabad worth ₹555 crore

PSP Projects Share Price | The orders include the construction of Gold Stone Hotel and Commercial Towers at Bengaluru worth ₹389.29 crore in institutitional category and the construction of residential towers in Ahmedabad worth ₹165.04 crore.