Adani Group on Thursday bagged two contracts worth Rs 13,888 crore from a state-owned discom to install smart meters.
A total of six tenders were awarded by the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to install smart meters, of which two have been bagged by the Adani Group, according to an official communiqu from the discom seen by PTI.
The diversified group, which has a sizeable presence in the power sector and had recently won a Rs 1,000 crore contract to install smart meters in the area serviced by BEST Undertaking in Mumbai, will act as an advanced metering infrastructure service provider for smart prepaid metering in MSEDCL, it said.
The two zones awarded to Adani include Bhandup, Kalyan and Konkan having 63.44 lakh meters, and Baramati and Pune having 52.45 lakh meters, it said.
Letter of Awards have been issued to the successful firms, as per the communiqu.
Officials from Adani Group were not immediately available for comment.
The group's transmiss

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Irdai Chairman Debasish Panda on Tuesday urged stakeholders in the infrastructure sector to take advantage offered by surety bonds, which complement bank guarantees needed for large scale funding.
Surety bond is a type of insurance policy protecting parties involved in a transaction or contract from potential financial losses due to a breach of contract or other types of non-performance.
He was speaking at a roundtable organised by Confederation of Indian Industry (CII) and The Infravision Foundation (TIF) on the financing of infrastructure projects in the country as part of the massive push to the sector by the government by allocating Rs 10 lakh crore towards it in the Union Budget 2022-23.
The chairman of Insurance Regulatory and Development Authority of India (Irdai) pointed out that India is expected to spend approx Rs 100 lakh crore on infrastructure through the National Infrastructure Pipeline in the next five years.
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Union Home Minister Amit Shah on Tuesday slammed the opposition, particularly the Congress, for showing only "tokenism" on the Narshakti Vandan Adhiniyam and said the party has never been serious about women's reservation in legislative bodies.
He also said the Congress either let legislations lapse or their friendly parties prevented the women reservation bill from being tabled.
The home minister said across the length and breadth of India, people are rejoicing the introduction of the Narishakti Vandan Adhiniyam in Parliament and it shows the unwavering commitment of the Modi government to empower women.
"Sadly, the Opposition is unable to digest this. And, what is more shameful is that except tokenism, the Congress has never been serious about women's reservation. Either they let legislations lapse or their friendly parties prevented the Bill from being tabled. Their double standards will never be hidden, whatever stunts they try to take credit," he wrote on X.
The government on 

Amit Shah

The fiscal burden of states will increase over time

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The report says that judicious use of trade policy is needed to tame inflation at home without hurting farmer earnings

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The Indian Railway Finance Corporation Limited (IRFC) posted a net profit of Rs 6,337.01 crore for the fiscal year 2023, an increase of over four per cent over last year, a company statement said on Friday.
Addressing the Annual General Meeting, Shelly Verma, Chairman and Managing Director of IRFC, said the company reported a total revenue from operations amounting to Rs 23,891.28 crore, a 17.70 per cent year-on-year increase over the last fiscal year.
The company has declared a total dividend of Rs 1,960.28 crore which works out to 30.93 per cent of profit after tax for FY 2022-23, she added.
Verma said IRFC disbursed an amount of Rs 32,392.63 crore in FY23 to the Indian Railways.
The asset under management for FY23 stands at Rs 4,66,938 crore, registering a year-on-year growth of 8.63 per cent. The capital adequacy ratio of IRFC continues to remain strong at 512.02 per cent in FY23, she added.

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The Delhi High Court reserved its orders in three applications filed by aircraft lessors of the airline seeking permission to maintain their aircraft

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The Income Tax department Friday conducted search operations at the various premises of hosiery major city-based Lux Industries Limited, the company said in a regulatory filing.
It is alleged that the company had evaded taxed to the tune of Rs 200 crore.
The company in its regulatory filing with the BSE said that a search is being conducted at the premises of the firm and full cooperation is being extended to the central agency's officials.
"We would like to further inform that as the survey is yet to conclude, we are unable to make the assessment of its impact. Once the survey concludes the company will update the stock exchanges in case there is any material impact resulting from the above survey," the company said.
The company shares fell 3.02 per cent on the NSE and closed at Rs 1473.50 apiece.

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