Vedanta ramps up RE power capacity to 1.03 GW
Vedanta Ltd
on Wednesday said it has increased its renewable energy power capacity to 1.03 GW and is on track to achieve 2.5 GW of green energy by 2030.
The company has ramped up its renewable energy round-the-clock equivalent power capacity to 1.03 GW through power delivery agreements, according to a statement.
The goal of achieving 2.5 GW of green energy by 2030 is aimed towards the ambitious target of achieving net-zero emissions by 2050 or sooner, the statement said.
by Taboola
by Taboola
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"The 1 GW renewable energy will potentially enable Vedanta to mitigate more than 6 million tonnes of carbon emissions annually. This is roughly equivalent to carbon sequestration by nearly 350 million trees annually," it added.
The
renewable energy projects
include a mix of wind, solar and pump storage technologies.
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"Our integrated approach to resource management and sustainability is central to Vedanta's vision of transforming for a sustainable future. As the Indian economy expands, Vedanta is undergoing a transformation that will support the rapidly growing needs of the economy.
"By expanding our production of critical minerals and investing in renewable energy, we are powering global efforts to combat climate change," Priya Agarwal Hebbar, Non-Executive Director, Vedanta Ltd and Chairperson
Hindustan Zinc Ltd
, said.
Vedanta Limited is a global leader in critical minerals, energy and technology, operating a diverse
portfolio
of world-class assets. It is the world's largest integrated producer of zinc, the fourth-largest global producer of silver, amongst the world's top aluminium producers, India's only private oil and gas producer, and one of its largest private power producers.
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Time of India
an hour ago
- Time of India
Buyer with ties to Chinese Communist Party got VIP treatment at Trump crypto dinner
The Trump White House has repeatedly sounded an alarm about visitors with ties to China's Communist Party coming to the United States, arguing that they are a potential security threat. But the administration appears to have literally left the door open to a member of a Chinese government group when it went along with a plan to give the biggest purchasers of President Donald Trump's digital currency access to the president and the White House. Trump launched a so-called meme coin, a type of cryptocurrency, just days before his inauguration. To bolster sales, the president's business partners created a contest in April, offering the coin's top buyers a tour of the White House and a private dinner with Trump at his Virginia golf club. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks One of those buyers was He Tianying, who is a member of the Chinese People's Political Consultative Conference, according to government documents in China examined by The New York Times. That government group, referred to as the CPPCC, is an advisory body that seeks to broaden the Communist Party's influence and solicit support from influential people in Chinese society. Live Events He, who was registered at the Trump event as a resident of Hong Kong, advises the Chinese government through his role as a delegate of the Fangshan CPPCC, a district of Beijing. He is listed as a member of the organization's science and technology committee. The Times could find no indication that He is a member of the Communist Party, and the government body he serves on is fairly low-level. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories There were no restrictions on who could buy the Trump meme coin -- which was marketed like a collectible baseball card -- including foreign nationals. But the winning buyers were given the opportunity for close proximity to the president. It is not clear why He wanted to attend. Still, at a time when the administration is seeking to scrutinize and revoke the visas of Chinese students with ties to the Communist Party, the incident illustrates inconsistencies in the Trump administration's approach to how it handles Chinese nationals, as well as potential weaknesses in the background checks the Trump administration did on the guests who bought his meme coin. Karoline Leavitt, the White House press secretary, said in an interview that the dinner was a private event and that government officials were not closely involved. "As the White House has always maintained, this was not an official White House event," she said. Once a crypto skeptic, Trump has done an about-face and declared himself a digital coin enthusiast, raising ethical concerns and blurring the line between his personal business ventures and the presidency. His family's company has issued its own cryptocurrency, and he has also heavily promoted the meme coin, known as $TRUMP. The meme coin dinner engendered strong criticism from Democrats, government watchdogs and even some Republicans about the appearance of monetising the presidency for personal gain. The event was arranged by the president's business partners to directly enrich the first family, even as Trump spoke that evening behind a stand emblazoned with the presidential seal. Bidders competed to accumulate the largest holding of the coin over several weeks. The top 220 won a dinner with Trump, and the top 25 also got a "VIP" tour of the White House. The buyers used self-adopted nicknames that disguised their identities, but the Times obtained copies of several pages of an official sign-in sheet for the dinner and over the past two weeks has been examining the biographies of many of the attendees. He, using the nickname Sky, owned $3.7 million worth of the meme coin, public transaction records show, at the time the contest ended. He was ranked as the seventh-largest buyer of the cryptocurrency, which entitled him to a gold-colored VIP wristband for the event. The day after the dinner at Trump's golf club, He was observed by a reporter from the Times entering the White House for the tour that had been set up by Trump's business partner Bill Zanker, who created the Trump meme coin. Zanker and the Trump family share in the revenues from the meme coin business, which has already totaled at least $320 million, according to an estimate by Chainalysis, a crypto forensics group. After the tour, He, using a social media account under his Sky pseudonym, posted a series of photos from the dinner and White House tour, which he electronically modified to cover his face. The Times was able to establish his identity through publicly available information, including photos and biographical information on his company website. He made several waves of purchases during the three weeks of the meme coin contest, according to the transaction records. "May I have the pleasure?" he wrote in one social media post, showing off his standing as one of the top owners of the meme coin, several days before the contest ended. He declined to comment as he entered the White House, and he did not respond to follow-up emails, calls and text messages from the Times. The dinner invitation sent to He stands in contrast to the statement Trump issued Wednesday, arguing that his administration needed to urgently move to block visas for certain Chinese nationals, including those attending Harvard University, as "the Chinese Communist Party has sent thousands of midcareer and senior bureaucrats" to the United States. He said this order was for "crucial national security reasons." A senior White House official, who asked not to be named because of the sensitive nature of the matter, said this week that the presence of He at the dinner and White House tour was unfortunate and that overall, the meme coin dinner had created unnecessary questions. But the White House official added that it had occurred because Trump "carelessly committed" to his longtime friend and business partner Zanker that he would be a part of it. The official added that Trump was not notified who would be attending and was unaware of He's background. Supporting the party The mission of the Fangshan District division of the CPPCC, which lists He as a member, is to "uphold the overall leadership of the Communist Party of China and strengthen the common ideological and political foundation," the group says in describing one of its meetings this year. CPPCC committees are advisory bodies to China's rubber-stamp legislatures at the national, provincial and, like Fangshan, district or county levels. Members can make policy recommendations to the legislative bodies, called People's Congresses. These committees are part of the Communist Party's United Front system, which is devised to co-opt broad segments of the population, including entrepreneurs like He, into supporting and carrying out the party's policies. The CPPCC bodies also act as networking clubs. "When you are a CPPCC member, you are expected to be a part of the United Front system and carry the water where the party asks you to," said Peter Mattis, the president of the Washington-based Jamestown Foundation who studies the United Front. The Times turned up documentation on Chinese government websites showing He's participation in the CPPCC group, as well as an attendance list for the committee's gathering in Beijing in January that included He's name. Chinese government records show that He is the majority owner of a Beijing-based investment firm, TechSharpe (Beijing) Capital Management Co., which says on its website that it uses artificial intelligence to "conduct quantitative investment in stocks." Recently, He has also promoted a crypto firm called LuckyFuture and has interacted on social media with Changpeng Zhao, the founder of the giant crypto exchange Binance. In a social media post, responding to an inquiry from the Times, Zhao said he learned about LuckyFuture after He reached out to him in the last few weeks. (A Binance spokesperson did not respond to a request for comment.) He came to the United States from China about a decade ago to get a master's degree in finance at the Massachusetts Institute of Technology, before returning to China and becoming active in the CPPCC, which is noted in his TechSharpe biography. This made He just the kind of student Trump is now targeting. But there was no hint of those kinds of fears in gracious invitations sent via email in mid-May to the dinner guests. "Congratulations!" said the notice sent to He, with a photo illustration of a muscular, smiling Trump at a dinner table, with an American flag on his lapel. "We can't wait to see you at the Gala Dinner." (He posted a copy of these emails on his social media account.) A table of foreign visitors According to a video taken at the dinner, the VIPs at just one table illustrated how many of the guests had traveled from overseas, including from China. He's dining companions included Justin Sun, a Chinese-born billionaire who was the contest's single largest buyer and one of the largest investors in the Trump family's other crypto venture, World Liberty Financial. Sun also has experience as a CPPCC member. In 2016, he was named as a delegate for a committee in a district in Guangzhou, a city in southern China. Only 26 at the time, he was among the youngest people in the country to sit on a CPPCC body. "I feel that the responsibility is very heavy, and I must strive to adapt to the new role as soon as possible," Sun was quoted in state media as saying at the time. (His representatives did not respond to a request for comment.) Also seated at the table were Cheng Lu, a Singapore-based crypto investor, who told the Times in an interview outside the White House that he bought a large amount of the family's meme coin because he wanted a chance to privately meet with Trump. Sheldon Xia, the founder of BitMart, a cryptocurrency trading platform backed by China-based Fenbushi Capital, joined them at the table, along with Sangrok Oh, the CEO of Hyperithm, a Seoul- and Tokyo-based firm that manages digital assets for institutional investors. Guests invited to the dinner were "required to fill out a brief form as part of the security background check to gain entry to the event," according to an email sent to the winners. The questionnaire was created with a service called CryptoComply offered by the New York-based firm Canaria Consulting. It requested information such as name, date of birth and place of residence. The 25 top Trump meme coin holders had their names submitted to a background check system called White House Worker and Visitor Entry System, a government official told the Times. This system compares the names of the pending visitors with government databases that include terrorist watch lists and lists of known criminals. "The U.S. Secret Service is responsible for vetting all White House visitors and guests, and we fully trust their process in doing so," Leavitt said. Some guests at the dinner said they were surprised at how lax the security appeared at the event. People not on the guest list were in certain cases allowed to enter the golf club grounds that evening and remain there after Trump arrived, the Times also confirmed. "I expected more from the security questions," said Nicholas Pinto, a Florida resident and crypto trader who attended the dinner. "It was very basic. And next thing you know, I am standing there in the room with President Trump."
India.com
an hour ago
- India.com
Mukesh Ambani reveals why he didn't take admission in..., donates Rs 151 crore to....
Mukesh Ambani reveals why he didn't take admission in…, donates Rs 151 crore to… New Delhi: One of the most richest men in the world Mukesh Ambani has recently donated a hopping whopping amount of Rs 151 crore to the prestigious Institute of Chemical Technology (ICT), making it the biggest donation in the history of the institute. Notably, the chairman of the country's most valuable company – Reliance Industries – studied at the institute. Earlier known as the University Department of Chemical Technology (UDCT), the ICT was established in the year 1933 by the University of Bombay. It was given the status of a deemed university in 2008 and subsequently renamed as ICT. Ambani announced the donation at the launch of Anita Patil's book 'The Divine Scientist'. The book is based on the life of Padma Vibhushan Professor Man Mohan Sharma. Many students consider him to be the greatest guru of Indian chemical engineering. While speaking about Guru Dakshina, the Reliance Chairman discussed several topics and announced a donation of Rs 151 crore to the institute at the behest of Sharma. 'When they tell us something, we just listen. They told me, 'Mukesh, you have to do something big for ICT', and I am happy to announce that it is for Professor Sharma,' Ambani said. Why Did You Not Go To IIT-Bombay Responding to the question, why did you not go to IIT-Bombay? Ambani stated, 'Visiting the UDCT campus always feels like visiting a sacred temple. Professor Sharma, I regard you as my most respected Guru, my guide and source of inspiration.' He recalled his fond memories of the institute and also praised Patil, saying, 'It is a very difficult task to write the life of a great man like Sharma.' I chose UDCT over IIT -Bombay.' Ambani stated that Sharma's inaugural lecture solidified his belief in Sharma's exceptional abilities. He described Sharma as a transformative figure, capable of converting curiosity into practical knowledge, then into profitable ventures, and finally into enduring wisdom. Ambani attributed major growth within India's chemical sector to Sharma bestowing upon him the title of 'Rashtra Guru' (national teacher).
Mint
2 hours ago
- Mint
Week Ahead: Inflation data, US tariffs, FII flow, global cues among key triggers for Indian stock market
The Indian stock market consolidated for the third consecutive week, but also snapped a two-week losing streak, driven by favourable domestic cues, instilling fresh confidence among D-Street investors. This, despite the ongoing trade tensions and uncertainty surrounding tariff negotiations. Next, investors will monitor some key market triggers in the second week of June. India's retail inflation, global tariff announcements, foreign capital flow, macroeconomic data, and global market cues will dictate the market direction. Domestic equity benchmarks Sensex and Nifty 50 were range-bound for most of the week, but surged on Friday to settle near the week's high. Supportive domestic developments helped limit the downside, with the highlight being the Reserve Bank of India (RBI)'s monetary policy, which took the market by surprise. The RBI cut the repo rate by 50 basis points to 5.50 per cent—double the market expectation—and reduced the Cash Reserve Ratio (CRR) by 100 basis points to three per cent, the lowest level since April 2021, further boosting market sentiment. This liquidity boost is expected to lower the cost of funding for banks and spur credit growth, powering rate-sensitive stocks. On Friday, the Nifty 50 logged its best day in three weeks and rose 252 points, reclaiming the psychologically crucial 25,000-mark after investors rallied behind the RBI's bumper policy measures. Sensex added 738 points to end at 82,189, while both indices gained one per cent for the week. The Bank Nifty outperformed, rising 1.5 per cent to settle at 56,578.40 after hitting a fresh all-time high of 56,695, extending its winning streak to four consecutive weeks. In the broader markets, both midcap and smallcap indices outperformed the benchmarks, reflecting a risk-on sentiment among investors, with gains ranging between 2.8 per cent and four per cent. In the coming week, the primary market will witness more action, with some new initial public offerings (IPO) and listings slated across the mainboard and small and medium enterprises (SME) segments. The week will be critical from the domestic and technical points of view. Investors will track domestic macroeconomic data, geopolitical events, and sector-specfic outcomes. Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as the consumer price index (CPI) inflation data and the index of industrial production (IIP) will be closely tracked to gauge demand trends and the central bank's next steps. Additionally, the progress of the monsoon and sowing patterns will be monitored due to their implications for rural consumption. "By front-loading easing measures, the RBI has underscored its commitment to reviving domestic growth amid global uncertainties. While such a bold approach was expected to unfold gradually, this decisive action reinforces confidence in its intent to support economic recovery while managing inflation risks," said Ajit Mishra, – SVP, Research, Religare Broking Ltd. One mainboard IPO, Oswal Pumps IPO, will open for subscription this week, while three new SME issues will also open for bidding in the next five days. Among listings, no new IPO-concluded companies are scheduled to be debut on the stock exchanges in the coming week. Foreign Institutional Investors (FIIs) remained net sellers, offloading ₹ 3,565 crore in equities. However, strong domestic institutional flows offset the pressure, as domestic institutional investors (DIIs) infused ₹ 25,513 crore into the cash segment, providing solid support to the broader market. According to Ionic Wealth by domestic brokerage Angel One, FIIs hold 18.8 per cent of Indian equities, compared to 30 per cent in other emerging markets (EMs), offering 'significant room for capital infusion'. Chemicals, telecom, and financials are the sectors attracting FIIs, driven by strong structural themes like the China+1 strategy. India's unique mix of consumption-led growth, robust capex cycles, and high-return-on-equity companies makes it a strong investment case. On the global front, developments in trade negotiations and movements in US bond yields will continue to influence investor sentiment. Global uncertainties and tariff-related risks could keep markets on edge and add to market volatility. According to market analysts, profit booking was visible last week due to the ongoing global uncertainty. Mid- and small caps outperformed large caps, driven by better earnings and valuations. A mildly positive bias emerged from strong US job data and expectations of easing US-China trade tensions. "Benchmark indices attempted recovery after FIIs turned net buyers, encouraged by strong domestic economic indicators amidst a weakening dollar and US bond yields, fostering a 'buy-on-dip' strategy," said Vinod Nair of Geojit Investments. "While China's rare earth restrictions pose long-term risks and investors await the inflation print in the US, the aggressive RBI rate cut, backed by cooling inflation and a steady GDP outlook, is likely to support investor confidence amidst the ongoing global uncertainties," added Nair. Shares of Adani Ports & SEZ, Asian Paints, Adani Enterprises, Ambuja Cements, Adani Total Gas, Piramal Enterprises, among several others, will trade ex-dividend next week starting from Monday, June 2. Shares of some stocks will also trade ex-bonus and ex-split. Check full list here Technically, Nifty 50 has approached the upper band of its prevailing consolidation range of 24,500–25,100. 'A decisive breakout above 25,200 would mark the beginning of a fresh uptrend, with potential to gradually move toward the 25,600–25,800 zone,' said Ajit Mishra of Religare. On the downside, the 24,400–24,600 range is expected to act as a strong support zone during any corrective phase. Bank Nifty has broken above the key 56,000 mark after trading in a tight range for over a month. Mishra now expects it to move towards 58,000, making this segment crucial for broader market direction. In case of a dip, the 55,350–56,000 range is likely to provide strong support. For the market's trading strategy, Mishra maintains a positive outlook and suggests 'buy on dips' unless Nifty 50 decisively breaks below 24,600. However, he clarified that investors should remain selective and focus on fundamentally strong stocks in sectors such as banking, auto, and real estate, which are poised to benefit from lower interest rates. Other sectors may contribute on a rotational basis. Caution is warranted in areas facing margin pressures or global headwinds, such as FMCG and IT. Traders should remain agile and well-informed, especially in light of the macroeconomic data and persistent global uncertainties. Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
