🇮🇳 India Daybook: Adani Duo Wins Massive 6,600 MW Power LOI, Max Healthcare Inks Jaypee Buyout

📍 ORDER WIN & POWER CONTRACTS

• Adani Power & Adani Green Energy: Maharashtra State Electricity Distribution Company (MSEDCL) issued a Letter of Intent (LoI) to the companies to supply 6,600 MW of hybrid power. Adani Green Energy will supply 5,000 MW of solar capacity from its Khavda renewable energy park in Gujarat, while Adani Power will supply 1,496 MW of thermal power from an upcoming 1,600 MW ultra-supercritical facility.

📍 ACQUISITIONS & RESOLUTIONS

• Max Healthcare Institute: The hospital operator signed a binding agreement to acquire a 64% controlling stake in Jaypee Healthcare Limited (JHL) as part of the Corporate Insolvency Resolution Process (CIRP), with provisions and options to acquire the remaining equity.

📍 PARTNERSHIPS & COLLABORATIONS

• Dixon Technologies: The electronic manufacturing services provider announced that its subsidiary, Padget Electronics, signed a Memorandum of Understanding (MoU) with ASUS India to manufacture IT hardware products, primarily notebooks, in India.

📍 PROJECT COMMISSIONING

• JSW Energy: JSW Renew Energy Two, a wholly-owned step-down subsidiary, commissioned 300 MW of wind power capacity in Tuticorin, Tamil Nadu. The capacity forms part of the 450 MW ISTS-connected wind power project awarded by SECI under Tranche X.

📍 TAX & LEGAL DEVELOPMENTS

• Hindustan Unilever (HUL): The FMCG major moved the Bombay High Court to challenge an Income Tax assessment order demanding ₹962.75 crore. The dispute pertains to a TDS withholding controversy stemming from its acquisition deal with GlaxoSmithKline (GSK) Consumer Healthcare.

📍 BULK & BLOCK DEALS

• Godrej Agrovet: Temasek Holdings arm V-Sciences Investments offloaded a 1.4% equity stake (around 27.1 lakh shares) in the agribusiness company for approximately ₹212 crore through open market transactions.

📍 REGULATORY & SECTORAL MOVERS

• Basmati Rice Producers (KRBL, LT Foods, Kohinoor Foods): Shares of basmati rice exporters came into sharp focus following the central government's decision to completely remove the Minimum Export Price (MEP) floor of $950 per tonne, paving the way for enhanced export realizations and volumes.

• InterGlobe Aviation (IndiGo): According to monthly aviation traffic data released by the DGCA, IndiGo’s domestic market share climbed to 62.4% in August from 62.0% in July, ferrying over 8.19 million domestic passengers.

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