Top Headlines: India's nuclear power push gains traction; Adani-NDTV deal

Gautam Adani's group said it will buy a majority stake in New Delhi Television Ltd (NDTV) as it looks to boost media investments as part of an ambitious expansion plan

India’s largest power producer is looking to develop another massive nuclear project just weeks after announcing its entry into the sector, a sign that PM Modi’s expansion into atomic energy is gaining momentum. Gautam Adani's group said it will buy a majority stake in New Delhi Television Ltd (NDTV), one of the nation's most popular news channels, as it looks to boost media investments as part of an ambitious expansion plan. Read more on these in our top headlines.

Adani to acquire 29.18% in NDTV; makes Rs 493-cr open offer for another 26%

Richest Indian Gautam Adani's group on Tuesday said it will buy a majority stake in New Delhi Television Ltd, one of the nation's most popular news channels, as it looks to boost media investments as part of an ambitious expansion plan. An Adani Group firm first acquired a company that in the past was linked to rival billionaire Mukesh Ambani. Read more

India's nuclear power push gains traction as NTPC eyes new plants

India’s largest power producer is looking to develop another massive nuclear project just weeks after announcing its entry into the sector, a sign that Prime Minister Narendra Modi’s expansion into atomic energy is gaining momentum. A venture between NTPC Ltd., which relies mostly on coal to supply energy to the world’s fastest growing population, and India’s monopoly nuclear developer is in advanced talks with the government to develop two 700-megawatt reactors in the central state of Madhya Pradesh. Read more

India to make second foray into chip manufacturing as demand seen rising

The United States of America, on August 9, signed the Chips and Science Act to provide $52.7 billion in government support to domestic semiconductor companies. The European Union is working on a similar legislation. The Indian government in December 2021 approved a $10 billion (Rs 76,000 crore) package for the semiconductor industry. Read more

Value of benami properties decreased by 54% in the past three years

On Tuesday, the Supreme Court struck down Section 3(2) of the Benami Transactions (Prohibition) Amendment Act, 1988 and called it “arbitrary” and violative of Article 20(1) of the Indian Constitution, which prohibits retrospective application of law. A Business Standard analysis of the finance ministry’s annual reports found that show cause notices issued for provisional attachment of benami properties had decreased to 154 in FY 2021-22 from 430 in FY 2019-20.  Read more

Accidental firing of Brahmos missile: Three IAF officers sacked

Three officers of the Indian Air Force were sacked on Tuesday for the March 9 accidental firing of a Brahmos missile that landed in Pakistan. An official statement said the services of the officers were terminated after a Court of Inquiry (CoI) found that deviation from the Standard Operating Procedures (SOP) by them led to the accidental firing of the missile. Read more