Adani Power cuts Bangladesh supply by over 60% on payment dispute
Fri, Nov 8, 2024 3:32 PM

Adani Power cuts Bangladesh supply by over 60% on payment dispute

A Flip by Shubhangi Gupta
Get it on Google Play
Adani Power has further reduced electricity supply to neighbouring Bangladesh as it seeks to recover more than $800 million in dues, according to data from Bangladesh’s grid operator and two sources familiar with the move. Adani Power, which exports power to Dhaka from its dedicated 1,600 megawatt (MW) Godda plant in eastern India’s Jharkhand state, had reduced supply this month to 700 MW-750 MW.

More great flips

DCX Systems bags significant order worth Rs 460.30 crore

DCX Systems bags significant order worth Rs 460.30 crore

DCX Systems secures a Rs 460.30 crore order from Lockheed Martin USA for electrical assemblies, building on a prior Rs 16.53 crore deal, and strengthening its position with top global defence contractors. The company's order book stands at Rs 1,937 crore, with a growing pipeline, as India's defence sector is expected to reach $70 billion by 2030.

Open Flip
Welspun Corp Q2 Results: Net profit declines 26%, revenue plunges 18.6%

Welspun Corp Q2 Results: Net profit declines 26%, revenue plunges 18.6%

Homegrown Welspun Corp on Friday announced the results for the second quarter of fiscal year 2025. The company, a leading player in the steel, sponge iron, and pig iron industry, reported a net profit of ₹287 crore for the quarter, a 26.3% from the same period last fiscal. The company had posted a profit of ₹386.57 crore in the last corresponding quarter.

Open Flip
Chile Inflation Tops All Forecasts in Alert to Central Bank

Chile Inflation Tops All Forecasts in Alert to Central Bank

Chile’s consumer prices rose more than expected in October as electricity costs jumped by double digits, damping the outlook for interest rate cuts even as growth stalls. Prices rose 1% in the month, above all forecasts in a Bloomberg survey of analysts that had a 0.6% median estimate, and the fastest pace since March of last year. Annual inflation sped up to 4.7%.

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon