&w=3840&q=100)
Adani Group denies report of battery tie-up with China's BYD, Welion
The statement came after Bloomberg, citing unnamed sources, reported that the Gautam Adani-led conglomerate was exploring a partnership with BYD to manufacture batteries in India as part of its clean energy expansion.
An Adani Group spokesperson said: 'We categorically deny Bloomberg's report on 4 Aug 2025 suggesting a tie-up between the Adani Group and Chinese companies BYD and Beijing Welion New Energy Technology. This report is baseless, inaccurate and misleading."
"The Adani Group is not exploring any form of collaboration with BYD for battery manufacturing in India. Similarly, we are not engaged in any discussions with Beijing Welion New Energy Technology for a partnership of any kind," the statement added.
The Bloomberg report claimed that Adani was personally involved in the discussions, which it said had taken place as recently as last week. The report further claimed that any agreement would likely be routed through BYD's subsidiaries located in other countries, rather than its headquarters in Shenzhen, due to diplomatic tensions between India and China.
The Adani Group is one of India's largest conglomerates with diversified interests across ports, power, renewable energy, airports, mining, data centres, and FMCG. While the Adani Group is not directly involved in the automobile sector now, it has shown interest in the electric mobility ecosystem through EV charging infrastructure and green hydrogen.
In April 2024, Adani TotalEnergies E-Mobility Limited, a joint venture of Adani Group and French major TotalEnergies, announced that it was establishing EV charging networks across India, including agreements with Mahindra & Mahindra and MG Motor India to install DC charging points at dealerships and build large super-charging hubs.
Shares of Adani Enterprises were trading at ₹2,369.35 apiece at 2.09 pm on the BSE on Monday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
32 minutes ago
- Business Standard
Paytm block deal: Chinese investor Ant group may sell remaining 5.84% stake
Chinese investor Ant Group is expected to exit fintech major Paytm by offloading its remaining 5.84 per cent stake through block deals worth approximately $434 million (₹3,800 crore), according to a report by Reuters. Ant is anticipated to sell the stake at a floor price of ₹1,020 per share. This is a 5.4 per cent discount to Paytm's closing price of ₹1,078.30 per share on August 4 on the BSE. Goldman Sachs India Securities and Citigroup Global Markets India are expected to lead the sale. Antfin (Netherlands) Holding BV, which is the entity of Chinese technology conglomerate Alibaba Group, has been paring down stake in Paytm over the past two years. In May, it sold about 4 per cent of its total holding in Paytm operator One97 Communications. As of March 2025 (Q4FY25) quarter, its stake in the company stood at 9.85 per cent in Paytm. In August 2023, it had offloaded a 10.3 per cent stake in the company. Prior to it, the investor held a 23.79 per cent stake in Paytm as of the June 2023 (Q1FY24) quarter, data from the BSE shows. The sale of stake comes amid regulatory sentiment regarding investments by investors of Chinese origin. The first quarter of 2025-26 (Q1FY26) turned profitable for One97 Communications, parent of fintech player Paytm, after a steep loss of ₹838.9 crore in Q1FY25. The net profit of ₹122.5 crore in Q1FY26 was largely driven by sharp cost controls. The fintech firm had posted a net loss of ₹539.8 crore in Q4FY25.
&w=3840&q=100)
Business Standard
32 minutes ago
- Business Standard
Bosch Q1FY26 profit more than doubles to ₹1,115 cr, revenue up 11%
Bosch India on Monday reported a significant jump in consolidated net profit for the first quarter of the financial year 2025-26 (Q1 FY26), at ₹1,115.3 crore, up 140 per cent year-on-year (Y-o-Y) from ₹465.4 crore in Q1 FY25. On a sequential basis, the profit surged 101.7 per cent from ₹553.6 crore in Q4 FY25. The sharp increase in profit was largely driven by an exceptional gain of ₹556 crore from the sale of its 'Video Solutions, Access and Intrusions and Communication Systems' business, which was transferred to Keenfinity India Private Limited in May 2025, the company said in a BSE filing. The company's revenue from operations in Q1 FY26 grew 10.9 per cent Y-o-Y to ₹4,788.6 crore from ₹4,316.8 crore in the same quarter last year. Sequentially, revenue dipped slightly from ₹4,910.6 crore in Q4 FY25. The auto components and equipment firm's earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 23 per cent Y-o-Y and declined marginally by 1.2 per cent sequentially, the company said. Bosch's mobility business expanded 14.3 per cent, with the two-wheeler segment growing 75.4 per cent, followed by power solutions (up 13.7 per cent) and mobility aftermarket (up 5.2 per cent). The consumer goods segment grew 9.3 per cent, while the energy and building technologies business declined sharply by 65.3 per cent, the company said.
Time of India
an hour ago
- Time of India
PM Modi to address NDA parliamentary meeting on Tuesday
Prime Minister Narendra Modi will address the BJP-led NDA parliamentary party meeting on Tuesday, a get-together of the ruling alliance's MPs which is being held after a considerable gap. The NDA meeting comes a couple of days before the filing of nomination for vice president's election begins from August 7. The NDA will have to announce its candidate, whose election will be a certainty due to the alliance's majority in the electoral college, by August 21, the last date of nomination-filing and the Monsoon Session of Parliament. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The meeting comes in the middle of a session which has been all but a washout so far, except for a two-day discussion on the Pahalgam attack and Operation Sindoor, due to a united Opposition's ceaseless protest against the Special Intensive Revision (SIR) of electoral rolls in Bihar by the Election Commission. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Egypt: Unsold Sofas at Bargain Prices (Prices May Surprise You) Sofas | Search Ads Search Now PM Modi is expected to speak on a host of current issues as the Opposition has been raising the heat over the poll body's alleged partisan conduct favouring the government, and the Pahalgam terror attack and Operation Sindoor. The prime minister is also likely to be felicitated by the parliamentary party over his government's military response to the terror strike. Live Events The electoral college for the vice president poll includes MPs of the Lok Sabha and the Rajya Sabha, and its current strength is 782. If the Opposition also names a candidate, a distinct possibility, then the poll is scheduled to be held on September 9. Sources said Parliamentary Affairs Minister Kiren Rijiju and a few BJP national general secretaries are likely to be coordinating with allies for the vice presidential poll. Since the 2024 Lok Sabha elections, when the BJP lost its majority but comfortably crossed the halfway mark with allies, the sessional meeting of the party's MPs was expanded to include its allies. PM Modi had addressed the first such meeting on July 2. However, no meeting has been held in the last few sessions. Before the last national elections, he used to address the weekly meetings of BJP parliamentary party, now expanded to include party's allies such as the TDP, JD(U), and LJP (Ram Vilas). The meeting is attended by MPs of the ruling alliance, and PM Modi often covers a sweep of political and governance issues, and at times touches on the government's agenda in Parliament. He often offers to the MPs talking points to be raised in public, especially their constituencies.
