Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The market's recent bearish trend deepened yesterday as news of bribery charges against the Adani Group triggered a major sell-off in its stocks. Adding to the pressure, most Asian and European markets traded in the red, further dampening investor sentiment.

TOP STORIES

EESL Looks to Exit IntelliSmart

What happened?

EESL, the government-run energy efficiency giant, is ready to part ways with its 49% stake in IntelliSmart Infrastructure. This joint venture with NIIF, formed in 2019, has been leading India’s massive smart metering mission. 

IntelliSmart is swapping 27.6 million conventional meters for smarter ones—out of the country’s total 250 million. The sale, which could be one of the biggest in India’s energy services sector, will kick off once an investment banker is onboard.

Why it matters

IntelliSmart has already secured orders for 20 million meters and, by May, had completed 620,000 installations in Assam under a government scheme. 

• IntelliSmart is soaring, recording a ₹27.06 crore profit in FY24—a striking rebound from a ₹2.06 crore loss the previous year. 
  
  

• Its revenue also skyrocketed, nearly tripling to an impressive ₹243.52 crore.
  
  

EESL, however, isn’t exactly rolling in cash. With a ₹277.77 crore loss in FY23 and pending payments from states, selling its stake in IntelliSmart could provide some extra cash. 

The broad look

Private players like Tata Power and Adani Group are raising the stakes in the energy services game, making this deal even more exciting. IntelliSmart’s smart meters are a big part of the Time of Day tariff system, where electricity prices change based on demand—cheaper during the day and pricier at night. 

Whoever grabs EESL’s stake won’t just invest in a company; they’ll join one of the world’s largest smart metering programs and help shape the future of energy use.

PAISON KA KHEL

₹60,000 crore refinery coming to Andhra

A massive oil refinery and petrochemical hub worth ₹60,000 crore is set to come up in Ramayapatnam, Nellore district. The project, developed by BPCL on 1,000 acres, will also feature a dedicated jetty at the nearby port, ensuring smooth operations.

This initiative fulfils a long-standing promise made during the state’s bifurcation in 2014. 

Tata Power's $4.25 billion spark for a greener future

Tata Power has teamed up with the Asian Development Bank (ADB) to power up India’s clean energy game with a massive $4.25 billion financing plan. This green pact covers projects like a 966-MW solar-wind hybrid setup, pump storage systems, and advanced battery storage initiatives.

ADB isn’t just funding—it’s also backing Tata Power's efforts to upgrade its distribution networks. The duo aims to hit India’s 2030 goal of 500 GW of non-fossil energy while also championing gender and climate inclusivity.

TOP STORIES

Uniqlo turns up the heat in India 

What happened?

Japanese retail giant Uniqlo is hitting the fast-forward button in India. After opening 15 stores in five years, including eight in Delhi-NCR and two in Mumbai, the brand is planning to speed up expansion. 

• In FY2024, Uniqlo India recorded a 32% income rise to ₹823.4 crore from ₹624.6 crore the previous year, with profits growing 24% to ₹85.3 crore. 
  

Known for its cozy winter wear and versatile basics, Uniqlo credits its growth to high demand for products like jackets, linen shirts, and HEATTECH apparel. 

Why it matters

India’s apparel market is booming, expected to grow from $75 billion in 2022 to $160 billion by 2030. While many retailers have battled inventory excess and slashed prices to survive, Uniqlo has stayed immune, focusing on essentials. 

• Despite inflation challenges, the brand has managed consistent year-on-year growth of over 50% until FY2023 and 30% in FY2024.
  

The brand’s CFO & COO, Kenji Inoue, remains bullish on India’s potential, citing Mumbai’s success as a springboard for more openings. 

Zoom out

Uniqlo’s parent company, Fast Retailing, had a stellar FY2024, raking in a record ¥3 trillion in revenue and ¥500 billion in operating profit. With India marked as a key growth market, the country is expected to play a big role in driving future earnings.

In India, Uniqlo’s plans go beyond just opening stores—it’s a well-thought-out strategy in a rapidly growing fashion market. By offering high-quality, comfortable clothing that appeals to budget-conscious shoppers, Uniqlo has managed to stand out in a challenging retail environment.

GLOBAL NAZARA

US authorities charge Adani executives over bribery 

US authorities have charged top executives, including Gautam Adani, in a bribery and investor fraud case involving $250 million (around ₹2,100 crore). The allegations claim bribes were paid to secure solar energy contracts with Indian government entities.

The contracts, tied to Adani Green Energy Ltd., promised profits exceeding $2 billion over 20 years. Prosecutors allege misleading statements to investors to secure over $3 billion in funding.

Bikaji Foods gives its US plans extra crunch

Bikaji Foods has extended its $500,000 investment timeline for its US arm by three months. The move, aimed at boosting expansion and distribution in the USA, involves buying 50,000 shares at $10 each.

Bikaji USA, which is fully owned by the parent company, reported a turnover of $1.1 million in FY24 but also a $70,130 loss—proof that even snacks can have bad days! 

TOP STORIES

IndiGo’s Fog-Busting Plan 

What happened

As winter rolls in with its foggy fury, IndiGo Airlines isn’t taking chances. The low-cost carrier is ramping up its efforts to minimise flight disruptions due to poor visibility and smog. The airline has gone all-in with a game plan that includes scheduling Low Visibility Operations (LVO)-trained crews, ensuring they’re stationed near fog-prone airports to reduce delays. And forget about conditional captains—those are out for the season to keep things smooth. 

What is the plan?

Fog and smog during North India’s winter months are infamous for causing flight chaos—delays, cancellations, and even diversions. But IndiGo is ready to tackle this head-on. The airline ensures that only fully qualified crews fly during the foggiest times, so safety is never compromised. Crews are also given pre-arranged accommodations and transportation, ensuring they're ready to jump in as soon as conditions improve. 

To handle operational disruptions, the airline uses a combination of weather reports, terminal forecasts, and risk assessments to avoid unnecessary delays. Extra fuel is also stocked up, so there's no need to worry about those frustrating diversions and gate returns.

Conclusion

With a well-oiled operation and a plan to keep things moving despite the fog, IndiGo is all set to tackle the winter season. From meteorological predictions to on-the-ground crew coordination, the airline’s proactive measures are designed to keep its flights on schedule, even when the weather is trying to do its worst. 

PARTNER SECTION

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