Yes Bank has acquired 30% in Reliance Power's subsidiary Rosa Power Supply Company upon invocation of pledged shares, the bank informed bourses late on Tuesday.
The rating has been put after the company announced the acquisition of controlling stake in KPCL.
The talks between billionaire Gautam Adani-led group and Anil Ambani-led Reliance Power are at an early stage, the persons cited earlier told ET.
Tata Power Company announced on Monday that it has emerged as the successful bidder to own the licence for electricity distribution and retail supply in five circles, constituting the CESU. The company, which generates power and distributes electricity in Mumbai, Delhi and Ajmer, will double its customer base.
Reliance Infrastructure said that a three-member arbitration tribunal said on Saturday that DVC will have to pay a sum of Rs 898 crore in favour of Reliance Infrastructure towards various claims. The tribunal has also directed DVC to release bank guarantees of Rs 356 crore within four weeks.
On December 19, a three-judge bench of the Supreme Court issued notices to the government seeking its views on multiple challenges made on the Constitutional validity of the freshly enacted Citizenship Amendment Act (CAA), which grants fast-track citizenship to non-Muslim refugees who fled to India due to religious persecution in Pakistan, Bangladesh and Afghanistan.
Pradhan reiterated that the country was striving to become a gas-based economy, and was improving gas infrastructure to support this ambition. He said changing geopolitical conditions were creating anxiety and uncertainty and increasing fuel price volatility.
Economic growth has decelerated in India since mid-2018, with GDP growth rate slipping to 4.5% in July-September. Other macroeconomic indicators also indicate stress in the economy, but the minister denied that it was a ‘gloom and doom’ situation.
Vaidya is currently director finance at IOC. He would be taking over from the current Chairman Sanjiv Singh, who will retire from the position in June 2020.
The order entails construction of Rishikesh – Karanprayag Tunnel 2 package works comprising tunnels, bridges and formation works in the state of Uttarakhand. L&T's heavy civil infrastructure division will execute this order.
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