Tata Power, one of India’s leading power companies, has announced a massive investment of ₹20,000 crore towards capital expenditure in the financial year 2025. The investment will focus on expanding the company’s renewable energy and distribution business, showcasing Tata Power’s commitment to sustainability and growth in the energy sector.
In other news, Air India has introduced Gift Cards that can be used to purchase flight tickets, extra baggage, and seat selection. Available in denominations ranging from ₹1,000 to ₹200,000, these Gift Cards offer customers a convenient and flexible way to plan their travel with the national carrier.
Meanwhile, Ola Electric is gearing up for its IPO with a reported valuation of around $4.5 billion. This valuation is slightly lower than the last private equity round, indicating the competitive landscape in the electric vehicle market.
On the global front, the International Monetary Fund (IMF) has raised India’s growth forecast for the financial year 2025 to 7%, with expectations of 6.5% growth in the following year. This positive outlook reflects India’s resilience and potential for economic recovery.
Additionally, the Securities and Exchange Board of India (Sebi) has proposed a new asset class to bridge the gap between mutual funds and portfolio management services. This move aims to attract investors with investible funds ranging from ₹10 lakh to ₹50 lakh, offering them a new avenue for wealth creation.
Overall, these developments in the business world highlight the dynamic and evolving nature of the economy, with companies and regulatory bodies adapting to new challenges and opportunities in the market.