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Time of India
26-05-2025
- Business
- Time of India
Andhra Pradesh leads solar manufacturing push, Jupiter plans Rs 2,700 cr facility
Jupiter Renewables will invest Rs 2,700 crore to set up a solar cell manufacturing plant in Andhra Pradesh, becoming the third company to establish operations in the state, which is rapidly positioning itself as a leader in solar module and cell production. Jupiter Renewables, a subsidiary of Kolkata-based Jupiter International, plans to set up a 4.8 gigawatt (GW) solar photovoltaic (PV) cell and 1.5 GW module manufacturing facility at Rambilli in Anakapalli district, with an investment of Rs 2,700 crore, according to state government's Industries & Commerce Department order approving the investment. The project will be set up in two phases (Phase-1 Rs 1,504 crore and Phase-2 Rs 1,196 crore), which has an employment generation potential of 2,216 persons, the order said. Phase-1 comprising 2.4 GW solar PV cell and 1.5 GW solar PV module manufacturing is to be commissioned by March 2026 and Phase-2 of 2.4 GW solar cell facility will come up by July 2026, it said. Ads By Google Ad will close in 30 Skip ad in 5 Skip Ad by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Incredible: The world's toughest smartwatch designed for the military Indestructible Smartwatch Undo Jupiter is the third company to set up a solar manufacturing base in the state, which is now challenging established leaders like Gujarat, Rajasthan, and Tamil Nadu in the arena. Since the N. Chandrababu Naidu government came to power last year, the state has witnessed a surge in investments in the renewable energy sector. Live Events Previously, Indosol had won a nod for a Rs 69,000 crore investment into a vertically integrated solar PV manufacturing unit. Premier Energies is also investing in the state in two phases - first phase of 5 GW ingot and solar wafer manufacturing with an investment of Rs 1,742 crores, and the second phase is 8 GW solar cell manufacturing with Rs 4,200 crore investment. Industry sources said discussions are in progress with other leading solar manufacturers as well. This move aligns with the state's ambitious plans to become a renewable energy hub, aiming to attract investments worth Rs 10 lakh crore and create approximately 7.5 lakh jobs in the clean energy sector. India is introducing non-tariff barriers (NTBs) to strengthen domestic solar manufacturing, particularly targeting imports from China. Key measures include mandating the use of locally made solar cells in government projects starting June 2026 and enforcing the Approved List of Models and Manufacturers (ALMM). These steps aim to expand local capacity, reduce geopolitical dependence, and enhance export potential. Andhra Pradesh is taking advantage of this upcoming import barrier and ramping up incentives for solar cell manufacturers. The order approving Jupiter's investment said the state government has extended a certain special package of incentives to the company. These include in-principal approval for allotment of 142 acres of land (Phase-1: 87 acres and Phase-2: 55 acres), at a concessional rate of Rs 50 lakh per acre. Also approved were grants of tailor-made incentives to be disbursed over 10 years. These include 50 per cent capital subsidy on building cost, plant and machinery cost, limited to Rs 1,096.98 crore, decarbonization subsidy @50 per cent with a cap of Rs 118.18 crore, reimbursement of 100 per cent of stamp duty on purchase of land and land conversion charges, and reimbursement of power tariff at Rs 1 per unit for 10 years from Date of Commercial Production, limited to Rs 341 crore, the order added.
Time of India
18-05-2025
- Business
- Time of India
HC seeks report on MRI and CT scan machines in SCB med college
1 2 3 Cuttack: Orissa high court has fixed June 19 to take further stock of progress in installation of an MRI and two CT scan machines among other high-end equipment at SCB Medical College and Hospital in Cuttack. Mahanadi Coalfields Limited (MCL) had provided Rs 46.34 crore under its CSR initiative for procurement of the MRI machine for the neurosurgery department and CT scan machines for the radiodiagnosis department in Dec last year. The HC was hearing a PIL on the problems in SCB on Friday. Informing about the status of procurement of equipment, senior advocate Bibhu Prasad Tripathy, representing the Odisha State Medical Corporation Ltd (OSMCL), informed the court that the purchase order for 3T MRI machine and two slice CT scan machines was issued on Jan 29. "Timeline for supply of the machines to SCB is by the end of May," Tripathy said. Taking it on record, the two-judge bench of Justices Sangam Kumar Sahoo and V Narasingh directed the superintendent of SCB to file an affidavit "regarding status of operation" of the MRI and CT scan machines when the matter is taken up for next hearing on June 19. The bench also directed the SCB superintendent to file by then an affidavit "regarding status of operation" of visual perimeter machine for the ophthalmology department. Though the ophthalmology department has received the recognition of Regional Eye Institute, the visual perimeter machine has not been functioning for the past five years as it needs repair or replacement. It is an essential tool for assessing the visual field of patients, particularly for diagnosing and monitoring conditions such as glaucoma. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Health: This unbreakable military watch is making seniors happy this year Indestructible Smartwatch Undo Dr Goutam Satapathy, superintendent of SCB, who was present in virtual mode, stated that the purchase order for procurement of visual perimeter was issued on Jan 29 and the machine has already been supplied. "The machine has not only reached, but also has been made functional," Dr Satapathy added. On the court's query about procurement of computerised ultra-brief electroconvulsive therapy (ECT) machines for the Mental Health Institute, it was stated that the purchase order for 14 such machines will be issued by May 17 and timeline for supply will be third week of Aug. ECT is a treatment for severe mental health conditions that involves passing an electrical current through the brain to induce a controlled seizure Managing director of OSMCL, Dr Poma Tudu, who was present through virtual mode assured the court that "the procurement of such machines will be expedited". The bench further directed Tudu to file by the next date "an affidavit relating to the status of procurement of two echo machines" for department of cardiology "for patient care".
Time of India
16-05-2025
- Business
- Time of India
Novo Nordisk CEO to step down amid market challenges and stock plunge
Novo Nordisk outgoing CEO Lars Fruergaard Jorgensen (Image credit: LinkedIn) Danish pharmaceutical giant Novo Nordisk , maker of popular weight-loss drug Ozempic , announced on Friday that CEO Lars Fruergaard Jorgensen will step down, citing ongoing "market challenges" and a significant drop in the company's share value. The board and Jorgensen reached a mutual decision to initiate a leadership transition. He will remain in his role temporarily to "support a smooth transition to new leadership", according to the company. 'The changes are, however, made in light of the recent market challenges Novo Nordisk has been facing, and the development of the company's share price since mid-2024,' the company said in a statement. The board and Jorgensen 'have jointly concluded that initiating a CEO succession is in the best interest of the company and its shareholders," it added. The decision comes as Novo Nordisk grapples with a sharp decline in its stock price- down more than 50 per cent since June 2024. This was after the stock value had experienced a dramatic surge following the launch of both Wegovy and the diabetes medication Ozempic, with both products containing semaglutide as their primary active component. Then, sShares fell a further three per cent on the Copenhagen exchange following Friday's CEO exit announcement. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Incredible: The world's toughest smartwatch designed for the military Indestructible Smartwatch Undo The company recently downgraded its annual sales growth projection, adjusting the forecast from 16-24 per cent to 13-21 per cent. The revision is attributed to rising competition, particularly from compounded versions of its GLP-1 drugs Wegovy and Ozempic, produced in American pharmacies during a recent supply shortage. However, the US regulators, even though had declared the shortage over in February and ordered an end to compounding, the impact continues to be felt. Novo Nordisk stated it is 'actively focused on preventing unlawful and unsafe compounding.' The firm also faces increasing pressure from US rival Eli Lilly , whose weight-loss injection Zepbound is gaining traction in the same market. A research paper published in the New England Journal of Medicine on Sunday revealed that individuals achieved greater weight reduction whilst using Eli Lilly's rival medication Zepbound. Additionally, the announcement of successful clinical trials for Eli Lilly's diabetes and obesity medication orforglipron caused Novo Nordisk's share prices to decline significantly last month. Diabetes affects more than 10 percent of people globally, and treatments for this condition remain central to Novo Nordisk's pharmaceutical operations. The International Diabetes Federation projects a 46 percent rise in adult diabetes cases by 2045. Additionally, the World Obesity Federation anticipates that by 2035, obesity and overweight conditions will affect over 50 percent of global population, potentially resulting in annual economic consequences exceeding $4 trillion. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
04-05-2025
- Climate
- Time of India
Rain, thunderstorm likely in Delhi; 'orange' alert issued for hailstorm in Himachal
NEW DELHI: A day after recording the second-highest 24-hour spell of rain in May since 1901, the IMD forecast a brief spell of rain, accompanied by thunderstorms, lightning and gusty winds, in Delhi on Saturday. The India Meteorological Department (IMD) has forecast winds reaching speeds of 40-50 kilometres per hour for the national capital, with a 'yellow' alert -- "Be Aware" -- in place. As a precaution, people have been advised to stay indoors, avoid sheltering under trees and unplug electronic appliances. Meanwhile, the Met office in Shimla has issued an 'orange' warning for hailstorms in isolated places of Himachal Pradesh till Sunday even as parts of the state received rain on Saturday. Shimla and its surrounding Jubbarhatti area were lashed by a hailstorm and several other places by heavy rain on Friday. Several areas in Delhi, including Jafarpur, Najafgarh, Dwarka, Palam, IGI Airport, Vasant Kunj, Tughlakabad and Deramandi, and parts of the National Capital Region (NCR) such as Gurugram and Faridabad are likely to witness light rain, moderate thunderstorms and lightning accompanied by gusty winds. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trend: This unbreakable health-tracking watch is delighting seniors Indestructible Smartwatch Undo The weather office has also forecast thunderstorms and rain for Sunday. An intense storm with heavy early-morning rain hit the national capital on Friday, causing a house collapse that killed a woman and her three children and delaying more than 200 flights, even as the city grappled with widespread waterlogging. According to IMD data, Safdarjung -- Delhi's primary weather station -- recorded 77 mm of rain between 2:30 am and 8:30 am, the second highest in four years. Visuals from different areas showed uprooted trees and people stuck in waterlogged roads. On Saturday, Delhi PWD Minister Parvesh Verma announced a 21-day special campaign for cleaning civic infrastructure, including roads, drains and flyovers, and removing the beggars staying underneath the flyovers. Following a visit to the New Delhi area, Verma held a meeting with officials and discussed the flood-prevention strategy. "In the next 21 days, all of Delhi must be clean. Roadside debris, open drains, waterlogged areas -- everything must be cleared. No dirty spots should remain. We will not let public money go to waste," Verma said. In a related development, the Met office has issued a 'yellow' warning for thunderstorms, lightning and winds reaching speeds of 30-50 kilometres per hour till May 9 in Himachal Pradesh's Sirmaur, Shimla, Mandi, Kullu, Kangra and Chamba districts. Bilapsur, Reckong Peo, Hamirpur and Tabo witnessed gusty winds during the 24 hours ended at 5 pm. Dehra Gopipur was the wettest place in Himachal Pradesh during the 24 hours ended at 5 pm, recording 37.2 mm of rainfall, followed by Kufri (18.5 mm), Poanta Sahib (17.4 mm), Shimla (16.6 mm), Kandaghat (15 mm), Jubbarhatti (14.8 mm), Dharamshala and Manali (11 mm each) Barrage (10.4 mm) and Solan (10 mm). Several parts of Rajasthan experienced thunderstorms and rain, leading to a significant drop in temperatures, the local Met office said. Jhunjhunu and its nearby areas witnessed hailstorms while light rain accompanied by thunderstorms was reported from many parts. According to the Met office, a series of western disturbances was expected to affect the region over the coming week, bringing light to moderate rainfall, accompanied by strong winds and lightning, in many parts of the state. From May 5-7, parts of southwestern Rajasthan are likely to see intense thunderstorm activity and moderate to heavy rainfall. Isolated areas in Barmer, Jalore and nearby districts may receive heavy rain on May 6-7, the weather office said. In Punjab and Haryana, maximum temperature settled a few notches below normal at many places amid hot weather conditions in parts of the two states, according to the Met office in Chandigarh. Patiala in Punjab recorded a high of 35.6 degrees Celsius, three notches below normal. Ludhiana recorded a high of 36.5 degrees Celsius, 1.5 degrees notches below normal, while the maximum temperature in Amritsar settled at 33.6 degrees, 4.8 notches below normal. In Haryana, Ambala recorded a maximum temperature of 35.4 degrees Celsius, 2.6 notches below normal, while Hisar recorded a high of 36 degrees, four notches below normal.
Time of India
04-05-2025
- Politics
- Time of India
Maldives president holds record 15-hour press conference
Maldivian President Mohamed Muizzu (Photo: PTI) COLOMBO: Maldives President Mohamed Muizzu addressed a press conference for nearly 15 hours, his office said on Sunday, claiming it broke a previous record held by Ukrainian leader Volodymyr Zelensky. Muizzu, 46, began the marathon press conference at 10:00 am (0500 GMT) on Saturday, and it continued for 14 hours and 54 minutes with brief pauses for prayers, his office said in a statement. "The conference extended past midnight -- a new world record by a president -- with President Muizzu continuously responding to questions from journalists," the statement said. In October 2019, Ukraine's National Records Agency claimed that Zelensky's 14-hour press conference had broken an earlier record of over seven hours held by Belarusian strongman Alexander Lukashenko. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trend: This unbreakable health-tracking watch is delighting seniors Indestructible Smartwatch Undo The government of the Indian Ocean archipelago said Muizzu's extended session was also intended to coincide with World Press Freedom Day on Saturday. "He acknowledged the crucial role of the press in society and emphasised the importance of factual, balanced, and impartial reporting," the statement added. During the lengthy session, Muizzu also responded to questions submitted by members of the public via journalists. The statement said Muizzu, who came to power in 2023, was also marking his island nation's rise by two places to 104th out of 180 countries in the 2025 World Press Freedom Index, published by Reporters Without Borders (RSF). During Saturday's session, he answered a wide range of questions, the statement said. Around two dozen reporters attended and were served food. A predecessor of Muizzu set another world record by holding the first-ever underwater cabinet meeting in 2009, to highlight the threat of rising sea levels that could swamp the low-lying nation. Former president Mohamed Nasheed plunged into the Indian Ocean followed by his ministers, all in scuba gear, for a nationally televised meeting. The Maldives is on the frontline of the battle against global warming, which could raise sea levels and swamp the nation of 1,192 tiny coral islands scattered across the equator.
