IHC Invests $2bn in Adani Group’s Green Portfolio
Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC), has made an announcement of the completion of an INR 154bn ($2bn) investment transaction in the Adani Group’s portfolio companies. In April, IHC agreed to invest AED...
Bharti Airtel Reports 164% Surge in Profits
Bharti Airtel reported a net profit of INR 20.1bn ($260mn) on a consolidated basis in quarter ending March 2022, surging 164% YoY. The company posted revenues of INR 315bn ($4.1bn), 22% higher YoY driven by healthy growth in mobile services, home business, and digital...
Greenko to Invest $3bn in Setting up World’s Largest Renewable Energy Storage Plant
India-based Greenko Group is setting up the world’s largest renewable energy storage plant in Andhra Pradesh with a $3bn investment. A 5.23GW project is being set up and is expected to be commissioned by 2023. Out of 5.23 GW, 3GW is solar, 550MW for wind and...
Tata Steel and JSW Upgraded to BB+ and BB
Tata Steel was upgraded to BB+ from BB by Fitch, now just one notch below an Investment Grade (IG) rating. The upgrade comes on the back of a “significant improvement” in its financial profile thanks to “record EBTIDA and significant debt...
