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<keyword id="45008" type="CITY" weightage="100" keywordseo="Tata-Power">Tata Power</keyword> said its customer base in Mumbai crossed the 5 lakh mark in April. 
 "We are happy to have achieved this milestone and stay committed to delivering superior services at competitive prices," said <keyword id="175186" type="PERSON" weightage="100" keywordseo="Anil-Sardana">Anil Sardana</keyword>, Tata Power’s managing director. The company added 2 lakh new customers, consuming less than 300 units of power. 
 
Tata Power's consumers, who use less than 300 units, constitute almost 65% of its total consumers in the city. "We are undertaking steady network expansion within the city with a focus on 11 clusters and had 695 km of cable network till March," said Sardana. The company has also added seven additional distribution sub-stations and 118 consumer sub-stations. 
Image: Thinkstock

Tata Power's Consumer Base In Mumbai Surpasses
5 Lakh Mark

Mumbai, May 11 () If the economic activities continue to get impacted for the next four months amid COVID-19 crisis, the regulatory assets of power discoms will increase to up to Rs 90,000 crore, which will then have to be recovered from consumers, an industry expert has said. Regulatory assets in the power sector include previously-incurred losses that are in the nature of deferred expenditure and can be recovered from consumers in future provided allowed by regulatory authorities."Everyone talks about 25-30 per cent dip in demand, but what constitutes behind that is nearly 80-82 per cent is decline in demand from the commercial sector and there is a rise in domestic consumer demand which is subsidised," Adani Transmission CEO Anil Sardana said during a webinar organised by Care Ratings. Whereas the industrial and commercial are the subsidising customers, he said adding that therefore, subsidising revenue has gone down while the subsidised customers are high.According to him, if the situation continues for two months, there will be nearly Rs 30,000-40,000 crore worth of regulatory assets."However, if this continues for four months which is estimated in terms of demand at least, because the industry will actually take time to start to consume as much, that (regulatory assets) would be Rs 80,000-90,000 crore, which is going to reflect in the ARR of the discoms as regulatory assets," he said.Sardana further said that this means a tremendous amount of carrying cost over the next 4-5 years and consumers will see regulatory asset surcharge, and tariffs will have to be paid along with carrying cost which will be a steep burden on customers."The government has announced a Rs 90,000 crore credit line to fund discoms afresh, but what is important is to revive the economy. And for this, the government will have to address key issues of the construction, labour and logistics sectors," Sardana added.He further said that there are thousands of crores of rupees with the government agencies stuck in arbitration which they need to release to ensure that the construction industry survive as liquidity is a key challenge. "Liquidity crisis is not a pandemic related situation but has been impacting the sector even before that. Instead of giving stimulus package, we want the government to at least release the amount stuck in arbitration," he added. PSK HV MKJMKJ

Regulatory assets of discoms may touch Rs 90,000 cr if economy stalls for another 4 mths: Expert

<keyword id="2687606" type="PERSON" weightage="20" keywordseo="Adani-Transmission">Adani Transmission</keyword> Ltd on Thursday reported a 22 per cent rise in its consolidated net profit for the April-June quarter at Rs 433.34 crore. During the same period of the last fiscal, the company had reported a consolidated net profit of Rs 355.40 crore. Its total income during the period under review was Rs 2,935.72 crore, higher by 15.45 per cent from Rs 2,542.84 crore earned during the first quarter of FY21. In a statement, the company said that the results are a validation of strong fundamentals of Adani Transmission Ltd and reiterates reliability, responsiveness and sustainability of Adani Electricity Mumbai Ltd thus creating value for ATL. "Adani Transmission is constantly evolving and growing into a trend setting organization. ATL's recent acquisitions (<keyword id="3800290" type="PERSON" weightage="20" keywordseo="APTL">APTL</keyword> and <keyword id="11798453" type="UNKNOWN" weightage="20" keywordseo="wktl">WKTL</keyword>) and robust under construction pipeline will further bolster its <keyword id="106831" type="COMPANY" weightage="20" keywordseo="pan-India">Pan-India</keyword> presence, consolidating further its position as the largest private sector transmission company in India and moving it closer to its goal of 20,000 ckt km of transmission lines by 2022," said Anil Sardana, <keyword id="176295" type="ORGANIZATION" weightage="20" keywordseo="MD-CEO">MD &amp; CEO</keyword>, <keyword id="5283750" type="COMPANY" weightage="20" keywordseo="Adani-Transmission-Ltd-">Adani Transmission Ltd.</keyword> "ATL is maintaining 24x7 quality power supply despite challenges posed by health and pandemic issues. The journey towards robust ESG framework and practicing the culture of safety is integral to its pursuit for enhanced long-term value creation for all stakeholders," Sardana added. SEE ALSO <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

Adani Transmission's net profit grows 22% in the June quarter, revenue up more than 15%

<keyword id="2688212" type="COMPANY" weightage="20" keywordseo="Adani-Transmission-Ltd">Adani Transmission Ltd</keyword> on Saturday said it has entered into a pact with <keyword id="987578" type="PERSON" weightage="20" keywordseo="Essel-Infraprojects">Essel Infraprojects</keyword> to acquire Warora-Kurnool Transmission Ltd (WKTL) for an <keyword id="174605" type="PERSON" weightage="20" keywordseo="enterprise-value">enterprise value</keyword> of ₹3,370 crore. The acquisition is in sync with <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Transmission's strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities, ATL said in a statement. ATL, India's <keyword id="11007517" type="UNKNOWN" weightage="20" keywordseo="largest-private-sector-power-transmission">largest private sector power transmission</keyword> and retail distribution company, has signed definitive agreements with Essel Infraprojects Limited (EIL) for the acquisition, it said. The regulatory approval for substitution of original awardee in the contract by ATL has already been received from the <keyword id="103658" type="COMPANY" weightage="20" keywordseo="Central-Electricity-Regulatory-Commission">Central Electricity Regulatory Commission</keyword>. The lenders consent and other necessary regulatory approvals shall be obtained before closure of transaction, the company said. With this acquisition, which is valued at an enterprise value of ₹3,370 crore, the cumulative network of ATL will reach 17,200 ckt km (circuit kilometres), out of which 12,350 ckt km is already operational and 4,850 ckt km (including this asset) is in various stages of execution. With this enhanced scale of operations, ATL will enjoy substantial benefits in terms of cost optimisation and shared resources and will also fortify its position of being the largest private sector transmission company in the country, the statement said. Anil Sardana, MD and CEO, Adani Transmission Ltd, said, "The acquisition of WKTL will bolster ATL's pan-India presence, consolidating further its position as the largest private sector transmission company in India. This strategic West to South 765 KV interconnector with Substation in Southern India, completes ATL presence in all regions of the country." This asset will not only increase ATL's size and scale but will also take ATL closer to its target of setting up 20,000 ckt km of transmission lines by 2022, he said. "The acquisition is a further demonstration of ATL's drive towards differentiated capability through inorganic growth, successful integration &amp; making such assets value accretive, for long term sustainable value creation for its stakeholders," Sardana said. Warora-Kurnool Transmission Ltd will develop, operate and maintain transmission lines aggregating to 1,750 ckt km. The 765 kV inter-state transmission line links Warora-<keyword id="6357155" type="LOCATION" weightage="20" keywordseo="warangal">Warangal</keyword> and Chilakaluripeta-Hyderabad-Kurnool with a 765/400 kV new sub-station at Warangal. The project was awarded through competitive bidding process on a build, own, operate, maintain basis. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/asteroid-apophis-wont-be-hitting-earth-for-at-least-another-century/articleshow/81719171.cms">‘God of Chaos’ asteroid Apophis won’t be crashing into Earth for at least another century</a> <a href="https://www.businessinsider.in/science/health/news/making-vaccines-available-to-indians-may-not-be-enough-it-depends-on-how-judiciously-we-employ-them/articleshow/81720507.cms">Making vaccines available to Indians may not be enough, it depends on how judiciously we employ them</a> <a href="https://www.businessinsider.in/thelife/article/madhya-pradeshs-kanha-national-park-hosts-a-special-guest-and-no-its-not-the-tiger/articleshow/81721513.cms">Madhya Pradesh’s Kanha National Park hosts a special guest. And, no, it’s not the tiger</a>

Adani Transmission to acquire Warora-Kurnool Transmission for over ₹3,370 crore

<keyword id="45417" type="COMPANY" weightage="20" keywordseo="Adani-Power">Adani Power</keyword> on Thursday posted a consolidated net profit of ₹13.13 crore in the March 2021 quarter, mainly on account of higher revenues. The company had posted a consolidated net loss of ₹1,312.86 crore in the quarter ended March 31, 2020, a <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword> filing said. Total income of the company rose to ₹6,902.01 crore in the quarter from ₹6,327.57 crore in the same period a year ago. For the entire fiscal year (2020-21), the company's consolidated net profit stood at ₹1,269.98 crore. It had reported a loss of ₹2,274.77 crore in 2019-20. Total income in 2020-21 came in at ₹28,149,68 crore as compared to ₹27,841.81 crore in 2019-20. During fourth quarter of 2020-21, Adani Power, along with the power plants of its subsidiaries achieved an Average Plant Load Factor (PLF or capacity utilisation) of 59.6 pe cent, and aggregate sales volumes of 14.8 Billion Units (BU). In comparison, during the fourth quarter of 2019-20, Adani Power and its subsidiaries achieved an average PLF of 65.5 per cent and sales volume of 16.5 BU. Operating performance was affected due to lower merchant sales and grid backdown in various plants, as well as reserve, shutdown at <keyword id="48302" type="COMPANY" weightage="20" keywordseo="Udupi">Udupi</keyword> due to higher penetration of renewables, the company said. The decline in PLF was offset partially by higher merchant sales at Raipur and Raigarh, and higher grid demand at Kawai, it added. <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, Chairman, <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, said in the statement, "<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> is facing a renewed challenge in the form of a sudden surge of the COVID-19 pandemic. The Adani Group stands shoulder-to-shoulder with the nation in facing and surmounting this challenge." "We are expending all efforts to help India recover quickly and resume on its path to progress and prosperity for all. The Adani Group remains committed to sustainable growth of energy infrastructure and becoming a key contributor to the nation's economic progress," he added. Anil Sardana, Managing Director, Adani Power, said, "As India's largest private sector power producer, <keyword id="381623" type="COMPANY" weightage="20" keywordseo="Adani-Power-Ltd-">Adani Power Ltd.</keyword> is committed to fulfilling the demand for reliable and cost-effective electricity for diverse needs, from farms to metro railways, factories to hospitals, and malls to households." "We have taken a pledge to serve our customers with uninterrupted supply of power, while ensuring that precautions to curb the spread of COVID-19 pandemic are followed strictly in all our establishments," Sardana added. In the coming years, "we will continue to tap promising business opportunities, while striving to improve our operating efficiencies on all parameters and leveraging our deep experience as well as complementarity with the Adani Group's energy portfolio, to bring about sustainable and profitable growth", he further said. Adani Power (APL), a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 MW solar power plant in Gujarat. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/wazirx-users-dogecoin-cryptocurrency-report-failed-transactions-and-delays-in-orders/articleshow/82425709.cms">Dogecoin surge sends WazirX servers panting for help – users report failed transactions, delays in orders</a> <a href="https://www.businessinsider.in/india/news/india-supreme-court-quashes-election-commissions-plea-against-madras-high-court/articleshow/82427416.cms">‘Internet has revolutionised courtroom reporting’ – India’s Supreme Court quashes Election Commission’s plea against Madras High Court</a> <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-is-now-official-check-out-launch-date-downloads-and-more/articleshow/82427206.cms">Battlegrounds Mobile India is now official, but comes with several restrictions for minors</a>

Adani Power registers profits after a disappointing loss-making quarter last year

<keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword>’s appointing of CEOs has been quite different from other companies in India. So the business experts of the country are curious to know who would fill the gap after Mistry’s exit from <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>. 
 Going by the record, Tata has often appointed outsiders and even foreigners to head its concerns. RK <keyword id="104932" type="PERSON" weightage="20" keywordseo="Krishna-Kumar">Krishna Kumar</keyword> moved from <keyword id="46021" type="PERSON" weightage="20" keywordseo="Tata-tea">Tata Tea</keyword> to Indian <keyword id="6368036" type="PERSON" weightage="20" keywordseo="Hotels">Hotels</keyword> in 1997. Homi <keyword id="3817876" type="UNKNOWN" weightage="20" keywordseo="khusrokhan">Khusrokhan</keyword>, who came from <keyword id="62362" type="COMPANY" weightage="20" keywordseo="Glaxo">Glaxo</keyword>, first headed Tata Tea and then moved to <keyword id="6354310" type="CITY" weightage="20" keywordseo="Tata-Chemicals">Tata Chemicals</keyword>. Firdose Vandrevala, a <keyword id="6357147" type="CITY" weightage="20" keywordseo="Tata-Steel">Tata Steel</keyword> deputy MD was moved to head <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> and was also chairman of the board for <keyword id="6359475" type="CITY" weightage="20" keywordseo="Tata-Teleservices">Tata Teleservices</keyword>. Among the current leadership at Tatas, N Srinath who heads Tata Teleservices, headed <keyword id="6370462" type="CITY" weightage="20" keywordseo="Tata-Communications">Tata Communications</keyword> in the past. Anil <keyword id="828638" type="CITY" weightage="20" keywordseo="Sardana">Sardana</keyword>, current <keyword id="3817874" type="UNKNOWN" weightage="20" keywordseo="md-of-tata-power">MD of Tata Power</keyword>, headed Tata Teleservices before Srinath. 
 There have been instances when the CEOs were removed midterm, much like Mistry. Bickson was replaced mid-tenure and <keyword id="2503475" type="PERSON" weightage="20" keywordseo="Rosling">Rosling</keyword> left unexpectedly, and so was the case of Green and Vandrevala. 
 However, <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> always preferred CEOs to have prior experience of heading companies or businesses and opted to move up CEOs from smaller companies to larger ones. 
 
While appointing Ratan Tata’s successor both the search committee and Tata himself chose Mistry amongst 6 other internal candidates. It was then told that Tata himself would mentor Mistry for a year. While the hunt for perfect candidate is still on, it’s kind of a déjà vu for Tata Sons. With hardly any time left to train new CEOs, Tata may be considering another paratrooper.

Ratan Tata’s choice of next CEO deconstructed

Adani Transmission Ltd (<keyword id="447291" type="General" weightage="80" keywordseo="atl" source="Orion">ATL</keyword>), India's largest private power distribution company and the transmission arm of the diversified <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword>, has submitted its Green House Gases (GHG) emission reduction plans, focussing on Science Based Targets initiative (SBTi), an international drive for containing global warming. ATL has submitted its detailed plan and targets for GHG emission reduction to SBTi within one year towards its commitment to contribute to contain global warming. As a part of its continued focus on sustainable growth and its net zero journey, ATL committed for the SBTi in October 2021. ATL will act in alignment with the much-needed climate action and devise a strategy to restrict global warming to 1.5 degree Celsius. To meet these targets associated with the SBTi commitment, ATL has rolled out definite strategies. In a first-of-its-kind initiative in the country, ATL's subsidiary AEML (Adani Electricity Mumbai Ltd) has introduced green tariffs, which enables AEML consumers to opt for green energy and receive a Green Power Certificate every month. This initiative is popular with consumers who wish to reduce their carbon footprint. "We take seriously all initiatives focused on contributing to India's climate commitment through resolute climate action," said <keyword id="175186" type="General" weightage="50" keywordseo="anil-sardana" source="Orion">Anil Sardana</keyword>, MD &amp; CEO, Adani Transmission Ltd. "Submitting targets for the SBTi reiterates our commitment to devising sustainable ways of doing business. It also reinforces India's efforts to reduce climate risk through individual and collective action. A culmination of several smaller actions such as energy efficiency initiatives at sub-stations, de-linking of substations from the grid for auxiliary power while connecting them with solar energy, and introduction of efficient transmission lines aimed at reducing losses, combined with wider actions such as introduction of green tariff at AEML, will significantly contribute towards achieving positive climate action." Signing up for the SBTi is an important step in the context of India's commitments to the Paris Climate Agreement. ATL became a signatory of UN Energy Compact at COP26 held in Glasgow in 2021. Through SBTi, companies are setting science-based emissions reduction targets - across their entire value chain - that are consistent with keeping global warming at 1.5 degree Celsius above pre-industrial levels. SBTi committed companies get 24 months to submit their targets. ATL, after committing to SBTi in Oct 2021, is one of the few companies to submit the emission reduction targets within one year. SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (<keyword id="1044129" type="General" weightage="50" keywordseo="wri" source="Orion">WRI</keyword>) and the <keyword id="62483" type="General" weightage="50" keywordseo="world-wide-fund-for-nature" source="Orion">World Wide Fund for Nature</keyword> (<keyword id="18630" type="General" weightage="50" keywordseo="wwf" source="Orion">WWF</keyword>). It defines and promotes best practices in science-based target setting and independently assesses companies' targets. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rec-gets-maharatna-company-status/articleshow/94368132.cms">REC gets 'Maharatna' company status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-slumps-51-paise-to-all-time-low-of-80-47-against-us-dollar/articleshow/94367387.cms">Rupee slumps 51 paise to all-time low of 80.47 against US dollar</a>

Adani Transmission to become net-zero by 2050

Gurugram, Expanding its successful 'M' series, <keyword id="10591" type="COMPANY" weightage="20" keywordseo="Samsung">Samsung</keyword> on Monday launched Galaxy M02 with a large 5000mAh battery, good camera and large screen starting from ₹6,999 (2GB+32GB variant) in India. The 3GB+32GB variant will cost ₹7,499 on Amazon.in, Samsung.com and all key retails stores. As an introductory offer, consumers can avail a special discount of ₹200 on Amazon.in for limited time, the company said in a statement. The 6.5-inch screen with HD+ Infinity V Display device is powered by the <keyword id="6369515" type="COMPANY" weightage="20" keywordseo="MediaTek">MediaTek</keyword> 6739 processor and will be available in four colours: Black, Blue, Red and Gray. "With the launch of Galaxy M02, we are confident that this mega entertainer will further strengthen our positioning in the sub-₹10K segment," said Aditya Babbar, Head, Mobile Marketing, <keyword id="107877" type="COMPANY" weightage="20" keywordseo="Samsung-India">Samsung India</keyword>. Galaxy M02 has a dual rear camera with 13MP main lens and 2MP macro sensor. The device offers a 5MP front-facing camera. "We are excited to remain Samsung's partner of choice and bring the powerful yet affordable new Galaxy M02 for customers on Amazon.in," said Nishant Sardana, Director, Mobile Phones, <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-ratan-tata-and-anand-mahindra-might-come-together-for-indias-new-national-hydrogen-mission/articleshow/80645570.cms">Mukesh Ambani, Ratan Tata, and Anand Mahindra might come together for India’s new National Hydrogen Mission</a> <a href="https://www.businessinsider.in/stock-market/news/indigo-paints-shares-listed-at-2607-which-is-at-75-premium-to-the-set-price-band-at-1488-1490-per-share/articleshow/80643645.cms">India’s fifth-largest paint maker Indigo Paints IPO lists at 75% premium over the issue price</a>

Samsung launches affordable Galaxy M02 smartphone in India

New Delhi, Apr 15 () Startup Cipla Health, a subsidiary of Cipla, on Wednesday said it has partnered with Swiggy, Zomato and Dunzo for home deliveries of over-the-counter wellness products in the wake of the nationwide lockdown. Leveraging on the extensive service delivery mechanism of the partners, Cipla Health will cater to 4 lakh people and cover 250 stores in 45 cities across the country. A home-delivery system makes it very convenient and safe for customers to get access to the wellness products, which otherwise might be difficult due to these lockdown conditions, the company said in a statement. Cipla Health CEO Shivam Puri said, "We have collaborated with these premier delivery partners as their expertise coupled with our suppliers will allow us to reach out to a larger segment of the population." Further, he said, "Our set of offerings are specially curated to meet the varying needs of our consumers especially in these times and hence, this association helps us in ensuring our products reach their consumers who are finding it difficult to purchase them due to the lockdown..." Zomato COO - Food Delivery - Mohit Sardana said, "Through our partnership with Cipla Health, we will employ our logistics capabilities to ensure our users have easy access to OTC wellness products from the safety of their homes. "Currently available in the metro cities, we will expand this partnership to tier-II cities by the coming week." Similarly, Swiggy COO Vivek Sunder said, "Our partnership with Cipla will ensure that health, hygiene and wellness products, which are just as essential, will reach customers in need as required. This is another step forward in helping citizens stay at home during the nationwide lockdown." Dunzo CEO and Co-Founder Kabeer Biswas said whether it is medicines for the sick or groceries for the elderly, the company is committed to helping cities and users fight the Covid-19 pandemic. RKL ANSANS

Cipla Health partners Swiggy, Zomato, Dunzo for home delivery of OTC wellness products

New Delhi, Feb 4 () Adani Transmission Ltd (ATL), the largest private sector power transmission company operating in India, on Tuesday said it raised USD 310 million in foreign currency debt.
 "This USD denominated notes are raised by six wholly owned subsidiaries of ATL amounting to USD 310 million," the company said in a statement.
 The USD notes carries fixed coupon over the tenor of notes, it said without giving details. "These instruments have an amortising structure matching the concession period and revenue profile of the issuer companies."
 "This is the first time that an Indian company has circled up transaction for its proposed US private placement in over a decade. From transmission business, this is first of its kind transaction," the company said.
 ATL said the proceeds will be used to cater to the growing demands for power by expanding network especially in the deficit parts of the country.
 Anil Sardana, MD &amp; CEO, Adani Transmission Ltd, said: "We are delighted to raise these funds from our US stakeholders. This will help us mitigate interest rate risk in our TBCB (tariff-based competitive bidding) projects. Further, we aim to expand our network to meet the growing demands of a T&amp;D sector. The funds will enable us to support efforts toward scaling infrastructure and improving electrification and bridging gap between the supply and demand for power. The placement is a strong endorsement of global investors' confidence in ATL as a value creator and leader in the power sector contributing toward sustainable growth the country."
 Barclays and Bank of America acted as the financial advisors in securing the deal and have held roadshows for the Baa2/BBB- rated borrower over the past few months.
 ATL is the transmission business arm of the Adani Group, one of India's largest business conglomerates. It is the country's largest private transmission company with a cumulative transmission network of more than 14,800 circut kms, out of which more than 11,470 ckt kms is operational. ANZ MKJ

Adani Transmission raises $310 mn

New Delhi, Jun 12 () Global hospitality major Marriott International on Friday said its home delivery service will now be available in more cities through an agreement with food aggregator Zomato. This association further expands and strengthens Marriott's home delivery service across India, while making it a mutually beneficial tool that allows outreach and exposure to thousands of customers using the platform, Marriott International said in a statement. The company's home delivery service, 'Marriott on Wheels', has also branched out into providing corporate outdoor catering services and Bento Box meals, it added. The partnership will start with close to 30 hotels in cities Bengaluru, Gurugram, Delhi, Pune, Chandigarh, Mumbai, Hyderabad, Ahmedabad, Raipur, Chennai, Kochi and Surat, Marriott International said. This facility will extend to additional cities, as more hotels join the service provider. Leveraging on the equity and outreach of Zomato, every meal delivery comes with the assurance of responsible and safe handling and packaging measures from start to finish with every order, it added. "Revolutionising the way food delivery works and elevating the service elements, we have partnered with an established brand like Zomato. This will help us provide seamless end-to-end solutions that involve quality, speed with all the necessary protocols followed," Marriott International South Asia Senior Vice-President Neeraj Govil said. There is a synergy of values between both brands and "we believe the partnership will take our food delivery service under the 'Marriott On Wheels' programme to the next level as we see the country opening up slowly", he added. Zomato will execute contactless delivery on all prepaid orders, the statement said. "We are happy to partner with Marriott International and feature 'Marriott on Wheels' on the Zomato app. As consumers look for new ways to indulge and celebrate special occasions in the 'new normal', we believe this partnership will be important in rendering premium food experiences," Zomato Food Delivery Chief Operating Officer Mohit Sardana said. There would also be a sanitisation station as well as a temperature-measuring station for Zomato delivery partners at all Marriott locations so that there is no lapse in food safety, the statement said. Marriott International has a portfolio of over 7,300 properties under 30 leading brands spanning 134 countries and territories. AKT HRS

Marriott enters into pact with Zomato to expand home delivery service

<keyword id="2687606" type="General" weightage="20" keywordseo="Adani-Transmission" source="Orion">Adani Transmission</keyword> expects strong growth opportunities through its acquisitions and improvement in the last mile connectivity. Adani Transmission is the transmission and distribution arm of the Adani Group. "Acquisition has been our very formidable growth paradigm in the transmission side and, we of course acquired the distribution business in Mumbai... (and)... the distribution business in Mundra. So, we will continue to look at various holdings of the private sector in the distribution as possible growth opportunities," Anil Sardana, the Chief Executive Officer of the company said. "We all know that in the power sector, as a country, we are doing well with the generation side... the transmission side. What we have to actually reform is the last mile. And that's where the company's presence is going to really help multiply and grow in the days ahead." The company, which generates more than two-third of its revenue from the distribution business, recognizes distribution as one of its key and core strengths. In the ninth-month ending 2021, the company quadrupled its transmission network to 3,080 circuit kilometres from 749 circuit kilometres in the same period last year. It commissioned 890 circuit kilometres at Ghatampur Transmission in Uttar Pradesh, 481 circuit kilometres at Bikaner Khetri Transmission and 292 circuit kilometres at Fatehgarh- Bhadla Transmission in Rajasthan. Apart from the key transmission assets, the company will build, own, operate and maintain the transmission project in the state of Madhya Pradesh for a period of 35 years, the company said in a statement. "One of ATL's key strengths lies in providing seamless electricity to some of the most populous regions of the nation, traversing through complex geographies. Across its network, ATL has ensured a robust transmission system availability at 99.62 per cent." Though the transmission and distribution business has a strong potential, the biggest roadblock in India's mission to provide 'Power for All' is the transmission and distribution losses. To put things in perspective, India's energy losses in transformation, transmission and distribution during the year 2019-20 was at 20.46 per cent, it said. SEE ALSO: <a href="https://www.businessinsider.in/international/news/college-dropout-gautam-adani-who-survived-a-terrorist-attack-and-a-kidnapping-is-now-asias-richest-person-with-a-88-5-billion-fortune/articleshow/89426208.cms">College dropout Gautam Adani, who survived a terrorist attack and a kidnapping, is now Asia's richest person with a $88.5 billion fortune</a> <a href="https://www.businessinsider.in/stock-market/news/power-banking-and-it-stocks-see-sharp-sell-off-on-fii-pull-out-and-as-investors-carve-out-money-for-lic-ipo/articleshow/89427072.cms">Power, banking and IT stocks see sharp sell-off on FII pull out and as investors carve out money for LIC IPO</a>

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