Current Affairs - Business

360 ONE Asset is set to acquire a 15% stake in Bharti AXA Life Insurance. This acquisition is part of the company's strategy to infuse fresh capital, drive innovation, and enhance its market presence. The move will provide Bharti AXA with the necessary financial resources to expand its operations, improve its product offerings, and strengthen its competitiveness in the rapidly evolving insurance sector. This stake acquisition will play a pivotal role in Bharti AXA's growth strategy and financial stability.

Reliance New Energy Battery Limited, a subsidiary of Reliance Industries, secured a 10 GWh capacity under India’s PLI ACC Scheme, which aims to enhance domestic battery manufacturing and reduce import dependence. This allocation is part of India's broader push for self-reliance in advanced battery technologies, which are crucial for the electric vehicle and renewable energy sectors. The move strengthens Reliance's position in the battery manufacturing sector and aligns with its clean energy investments, helping the company play a significant role in India's electric mobility and renewable energy growth.

Reliance Industries Limited (RIL) secured the 2nd spot in the FutureBrand Index 2024, surpassing global giants such as Apple, Nike, and Disney. This marks the first time an Indian company has entered the top three. Reliance's rise from 13th place in 2023 to 2nd position in 2024 reflects its strong brand perception, diversification into key sectors like energy, telecommunications, and retail, and its growing global influence. This achievement underscores Reliance's strategic expansion and its leadership in building consumer trust and brand value across multiple industries.

ADNOC Gas and Indian Oil Corporation have finalized a 14-year agreement for the supply of up to 1.2 million tonnes of LNG annually, starting in 2026. The deal, valued between $7 billion and $9 billion, is part of India's broader strategy to increase gas usage to 15% of its energy mix by 2030. The LNG will be sourced from ADNOC Gas's Das Island facility, which has been operational for years and has delivered over 3,500 LNG cargoes since its inception.

ONGC has signed a Memorandum of Understanding (MoU) with Tata Power Renewable Energy Ltd to collaborate on Battery Energy Storage Systems (BESS). The partnership aims to improve grid stability, integrate renewable energy sources, and support India’s clean energy target of 500 GW by 2030. Additionally, ONGC has set a goal to achieve 10 GW of renewable capacity by 2030, which aligns with its broader objective of reaching net-zero carbon emissions by 2038. This collaboration strengthens efforts to transition toward sustainable energy solutions.