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Adani Energy Solutions Limited (AESL) has signed a binding securities purchase and subscription agreement to acquire a 100% equity stake in IntelliSmart Infrastructure Private Limited for a total consideration of ₹3,050 crore. IntelliSmart, one of India’s top three smart metering operators, was established as a prominent joint venture between the sovereign-linked National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL). The multi-crore transaction includes the total buyout of IntelliSmart's equity share capital alongside the complete redemption of optionally convertible debentures held by NIIF. The absolute finalization of the cash-based deal remains subject to customary closing conditions and…

The number of PM Ujjwala Yojana scheme cylinders has been reduced from 9 to 4 per year. Under this scheme, poor consumers used to receive 9 cylinders a year at a subsidized price, with a concession of ₹300 on each cylinder.That means such beneficiaries only had to pay ₹642 per cylinder. However, due to a shortage of cooking gas caused by the war in West Asia, the Center has decided to reduce the 9 cylinders provided to the poor to four.

India's largest steelmaker by capacity, JSW Steel, has reported a robust 15 percent year-on-year jump in consolidated crude steel production for May, reaching 2.29 million tonnes. According to an official company statement, the growth was primarily driven by the full resumption of operations at its Dolvi plant and a successful ramp-up at JVML. Production from domestic operations alone rose 15 percent to 2.19 million tonnes, while the company's US facility in Ohio registered a 20 percent output increase to 950,000 tonnes. This substantial production surge was achieved despite a major planned outage at the company’s flagship Vijayanagar facility in Karnataka.…

Snapchat has strengthened its position in India’s digital advertising landscape, reporting a tenfold increase in the number of advertisers on its platform over the past two years, driven by growing adoption of immersive advertising formats, AI-powered targeting tools and high-attention ad placements within Chat. The platform, which now reaches more than 250 million users in India, said the number of advertisers spending consistently across all four quarters has tripled during the period. Snapchat attributed the growth to brands increasingly seeking meaningful engagement with Gen Z consumers, a segment that contributes 43 per cent of India’s consumption and is projected to…

The Reserve Bank of India (RBI) kept its key policy rates and monetary policy stance unchanged, while flagging heightened inflation risks, prompting economists to closely watch the central bank's next moves amid evolving domestic and global economic conditions. Reacting to the monetary policy announcement, Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank, said the RBI's decision to maintain rates and stance was largely in line with market expectations. However, she noted that the central bank's emphasis on amplified inflation risks indicates continued vigilance on price pressures and the broader macroeconomic environment. Bhardwaj said Kotak Mahindra Bank expects a cumulative 50…