Current Affairs - Business

The Indian Renewable Energy Development Agency (IREDA) launched its revamped intranet portal to improve internal communication and operational efficiency. Inaugurated by CMD Pradip Kumar Das, the portal features user-friendly functionalities, including access to organizational policies, announcements, and MIS reports. This initiative aligns with the agency's focus on modernizing its workplace and fostering better collaboration among employees, thereby contributing to its overall growth and operational success.

Terminal Investment Limited (TIL), a Switzerland-based company, has announced its plans to invest Rs 20,000 crore in the development of Vadhvan Port near Dahanu, Maharashtra. The project is managed by Vadhvan Port Project Ltd (VPPL), a joint venture between JNPA and the Maharashtra Maritime Board. This investment is part of a larger Rs 76,200 crore initiative to establish a world-class port facility in India.

Honda, Nissan, and Mitsubishi have initiated discussions to merge by 2026, potentially creating a $50 billion company with 8 million annual sales. This collaboration could position the merged entity as the third-largest automaker globally, following Toyota and the VW Group. A final agreement is targeted for June 2025.

Adani Group has acquired an 85.8% stake in Air Works, India's largest private-sector Maintenance, Repair, and Overhaul (MRO) company, for Rs 400 crore. This acquisition strengthens Adani’s presence in India’s civil and defence aviation services sectors, contributing to the country’s growing aviation market and supporting the Aatmanirbhar Bharat initiative. The move also expands Adani’s capabilities in the defence and civil MRO sectors, enhancing its service offerings and footprint across India and internationally.

UltraTech Cement, a flagship company of the Aditya Birla Group, received approval from the Competition Commission of India (CCI) for its ₹3,954-crore acquisition of India Cements Ltd (ICL). This strategic deal involves a significant stake acquisition, including shares from ICL promoters and associates, to enhance UltraTech’s market presence in the southern cement market, especially in Tamil Nadu. The acquisition aligns with UltraTech’s growth strategy to expand its installed capacity and strengthen its position as a global leader in the cement industry.