Latest news with #Kanwar
Time of India
4 days ago
- Business
- Time of India
Apollo Green Energy plans entry into green hydrogen, BESS; eyes 1 GW EPC order book by 2026
New Delhi: Apollo Green Energy Limited is targeting a 1 GW EPC (Engineering, Procurement, and Construction) order book by 2026 and expanding into new segments such as green hydrogen , battery energy storage systems (BESS), and electric vehicle (EV) infrastructure as part of its long-term growth strategy. The company is currently executing over 400 MW of solar projects across multiple states and has a growing order pipeline of over ₹3,000 crore. A part of the Apollo International Group, Apollo Green Energy reported a consolidated revenue of ₹72,616 lakh for the financial year 2024–25. Its profit after tax stood at ₹4,436 lakh. The company declared a 15 per cent dividend for its shareholders for the year ending March 31, 2025. The firm is also advancing its Independent Power Producer (IPP) plans. It has established a 100 per cent subsidiary under the IPP model and secured its first two Power Purchase Agreements (PPAs) of 4 MW each under Component A of the PM-KUSUM Scheme with Jodhpur Vidyut Vitran Nigam Limited (JVVNL). 'This has been a productive year of execution and expansion. We have ongoing EPC projects with NHPC across Odisha, Kerala, and Gujarat totalling 290 MW (AC), along with the successful delivery of a ₹700 crore FGD project in Anuppur,' said Raaja Kanwar, Chairman and Managing Director, Apollo Green Energy. He added, 'Our solar streetlight project in Bihar, with over 1,40,000 installations, is set to significantly enhance energy access and public lighting. We are now focusing on scaling our EPC pipeline and expanding our presence in emerging areas like IPP and energy storage.' The company stated that it operates in eight states and follows an asset-light, technology-enabled business model. It is actively engaging with global partners for joint development of green hydrogen and long-duration storage projects. 'As we move forward, our goal is to grow responsibly, support climate objectives, and deliver reliable, cost-effective clean energy solutions across the country,' Kanwar said.
Hindustan Times
30-04-2025
- Hindustan Times
‘Drunk' driver injures four in Gururgam; FIR registered
Four people were injured, one critically, after a 24-year-old allegedly intoxicated woman rammed her speeding car into an autorickshaw in Sector 53 at around 1.30am Saturday, Gurugram police said on Tuesday. According to police, the accident took place near Shalom Hills International School on Saint Thomas Marg. One of the victims, Mansi Gupta, 28, suffered severe head injuries and was kept under observation at a private hospital in Sector 43. 'She had a several-inches-long deep cut and required a dozen stitches,' police said. Three others — Harsh Sharma, 30, an investment banker; Niharika Gupta; and the auto rickshaw driver — were also injured but discharged later, police said. The car driver, Guntas Kanwar, a resident of Park View Spa, Sector-47, was allegedly found 'completely drunk' at the scene with two friends, said Sandeep Kumar, Gurugram police PRO. 'They lay there disoriented in an injured state for several minutes until some commuters scrambled for help,' Kumar added. Police said Kanwar was taken for a medical examination at the Sector 10A civil hospital, where the doctors confirmed alcohol consumption. However, she refused to provide a blood sample, officers aware of the incident said. The Creta and the rickshaw were seized, they added. Initially, no FIR was registered as victims were unable to file a complaint. An FIR was finally lodged on Monday, based on Sharma's complaint, under sections 125(a) and 281 of the Bharatiya Nyaya Sanhita and section 185 of the Motor Vehicle Act at Sector-53 police station. Kanwar has been served a notice and will be arrested by Wednesday, police said.
Business Upturn
29-04-2025
- Business
- Business Upturn
Paras Defence share price jumps 18% in 2 days
By Aditya Bhagchandani Published on April 29, 2025, 11:36 IST Shares of Paras Defence and Space Technologies Ltd surged 8.29% to ₹1,238.55 on Tuesday, April 29, 2025, adding ₹94.80 from the previous close of ₹1,143.75. The stock touched a high of ₹1,249.90 during the session and was among the top gainers on NSE. The rally in Paras Defence came alongside broader momentum seen in India's defence sector stocks, including Data Patterns (India) Ltd, Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL), and Bharat Dynamics Ltd (BDL). This surge is being attributed to continued optimism around the Indian government's long-term defence spending plans. Amid the evolving global geopolitical landscape, many nations—including Japan, Germany, and Spain—are increasing their defence budgets toward 3–5% of GDP. India, currently spending around 1.9%, may need to reallocate substantially more over the coming decades. Speaking at an event hosted by Motilal Oswal Financial Services (MOFSL), Captain Vishal Kanwar, Managing Director at PwC Advisory India, said India must move toward a 4% defence spending target to meet national security and modernization requirements. Kanwar noted a likely shift in capital expenditure allocation within the Indian armed forces, increasing from the current 22% to 40% by 2047, alongside a tenfold rise in R&D spending from 1% to 10% of the defence budget. India's aerospace sector is also accelerating, led by public sector giants HAL, BEL, and Mazagon Dock Shipbuilders. Kanwar highlighted the need for HAL to improve productivity and infrastructure to maintain its aerospace leadership. Private players such as Tata Group, Mahindra, Aequs, Dynamatic Technologies, and Bharat Forge were also acknowledged for their growing footprint in aerospace manufacturing via global collaborations. At the time of reporting, Paras Defence had a market capitalization of ₹5,019 crore and a P/E ratio of 91.17. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hindustan Times
23-04-2025
- Hindustan Times
Ludhiana: Punjab government suspends MC official held for corruption
The Punjab government has suspended municipal corporation superintendent engineer Sanjay Kanwar, who was arrested on April 14 for allegedly demanding a commission in exchange for awarding a contract to renovate the city's Rose Garden. The suspension order, issued under Rule 4(2)(A) of the Punjab Civil Services Rules, 1970, takes immediate effect from April 16. During his suspension, Kanwar will report to the local bodies department headquarters in Chandigarh. Following his arrest, several other officials from the municipal corporation have come under Vigilance scanner. The ongoing investigation is examining the wider network involved in the alleged kickback scheme. Vigilance officers had recovered two luxury cars, cash, jewellery, and property documents from Kanwar's possession. While he has been sent to judicial custody, further inquiries are being carried out to uncover other possible beneficiaries of the tender scam.
