Author: Staff Writer

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Corporate

Adani Power’s Vidarbha takeover gets final nod

Adani Power has overcome a significant legal challenge in its bid to acquire Vidarbha Industries Power Ltd (VIPL) for ₹4,000 crore. The National Company Law Appellate Tribunal (NCLAT) has upheld the company’s resolution plan under the Insolvency and Bankruptcy Code (IBC), dismissing appeals from Western Coalfields Ltd., a key coal supplier and a group of employees. This decision affirms the earlier approval by the National Company Law Tribunal (NCLT), providing final clarity to the long-pending takeover of the 600 MW Vidarbha power project.

The disputes centered on creditor treatment and procedural compliance. Western Coalfields, an operational creditor claiming around ₹500 crore, argued that Adani Power’s plan violated IBC timelines for debt resolution. Meanwhile, employees raised concerns over inadequate payouts, receiving only ₹1 crore collectively against claims exceeding ₹550 crore. They contended that the plan unfairly prioritized secured creditors, leaving operational dues undervalued.

NCLAT rejected these claims, ruling that the Committee of Creditors (CoC) had approved the plan well within legal deadlines. The tribunal noted that Adani Power’s subsequent modifications to operational debt handling were permissible, as they neither reduced creditor recoveries nor prejudiced any party. On employee dues, NCLAT clarified that asset values could not fully cover all claims post-secured creditor payments, a common outcome in insolvency cases. Crucially, statutory obligations like provident fund and gratuity contributions remain fully protected and must be disbursed in full, safeguarding worker interests.

This ruling marks a pivotal moment for Adani Power’s expansion strategy in the power sector. The acquisition bolsters its capacity amid India’s growing energy demands, aligning with the group’s aggressive growth in renewables and thermal assets. Market analysts view the verdict as a strong endorsement of the IBC framework, which has resolved over stressed assets since 2016. By balancing swift corporate rescues with creditor rights and employee protections, it signals judicial confidence in India’s bankruptcy regime.

For the broader economy, the decision underscores the maturing insolvency ecosystem. It demonstrates how tribunals can navigate complex stakeholder conflicts, encouraging more strategic investments in turnaround opportunities. Adani Power shares rose marginally post-ruling, reflecting investor optimism. As the company integrates VIPL, focus shifts to operational synergies and long-term value creation in a competitive power landscape.

Also Read: S4Capital chief praises India at WEF 2026, Davos

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Corporate

Sensex tumbles 1,065 points, Nifty slips under 25,250

Indian stock markets fell sharply on Tuesday, 20 January 2026, with major indices hitting their lowest levels in over two months. The BSE Sensex dropped 1,065.7 points to 82,180.47, while the Nifty 50 slipped 353 points to 25,232.50, reflecting broad-based selling across sectors.

While defensive and some large-cap stocks like ITC and Tata Capital managed gains, several heavyweights suffered steep losses. Sun Pharma and Eternal shares fell around 3–4%, dragging the indices lower. Mid-cap and small-cap stocks also saw widespread declines, and only a few counters provided support.

Foreign investors continued to withdraw funds, adding to the pressure. The Indian rupee weakened against the dollar, raising concerns about currency risk. Technical levels for Nifty were breached, signaling market vulnerability and prompting investors to reduce exposure.

Global cues also weighed on sentiment. European markets retreated, and U.S. futures, including the S&P 500 and Nasdaq, were down, reflecting risk-averse investor behavior worldwide.

Analysts note that the combination of foreign outflows, weak corporate results, and global volatility drove Tuesday’s market slide. Investors are now closely watching upcoming earnings and macroeconomic data for signals on market direction.

Also Read: S4Capital chief praises India at WEF 2026, Davos

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Leaders

S4Capital chief praises India at WEF 2026, Davos

At the World Economic Forum (WEF) 2026 in Davos, global advertising veteran Sir Martin Sorrell offered strong praise for India’s economic performance and political leadership, describing the country as a rare “pocket of growth” in an otherwise uncertain global environment.

Speaking on the sidelines of the annual summit, the S4Capital chairman said Prime Minister Narendra Modi is “on fire”, crediting his leadership for sustaining India’s growth momentum at a time when several major economies are struggling to expand. Sorrell pointed out that India is expected to grow at around 6 percent, significantly higher than the global average, which remains below 3 percent.

Comparing India with other major economies, Sorrell noted that growth in the United States is likely to remain in the range of 2.6 to 2.8 percent, while China is projected to grow at about 5 percent. Against this backdrop, India stands out as one of the fastest-growing large economies, strengthening its appeal to global investors and businesses looking for stability and scale.

Sorrell said India’s strong economic fundamentals, combined with its demographic advantage and expanding digital ecosystem, make it an attractive alternative within Asia. He described the country as a “beacon of growth” and a natural destination for companies seeking long-term opportunities amid geopolitical and economic uncertainty.

The S4Capital chief also highlighted the growing visibility of Indian corporate leaders at Davos, noting that executives from leading Indian groups are increasingly confident, outward-looking, and active on the global stage. According to him, this rising presence reflects India’s growing influence in global business and policy discussions.

On the diplomatic front, Sorrell praised Modi’s handling of international relationships, particularly with the United States, saying the prime minister has managed global expectations effectively while strengthening India’s brand abroad. Drawing from his background in branding and communications, Sorrell said India’s current global positioning is strong and largely positive.

Also Read: Sun Pharma linked to possible $10 bn Organon buyout

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1 Minute-Read

Tata Capital posts 17% jump in Q3 profit

Tata Capital delivered a strong performance in the October–December quarter, reporting a 17 per cent rise in net profit to ₹1,257 crore, compared with ₹1,076 crore in the same period last year.

The Tata Group’s financial services arm saw its revenue from operations grow by around 12 per cent, supported by higher interest income. Its assets under management increased 26 per cent year-on-year to ₹2.34 lakh crore, indicating healthy expansion in its loan portfolio.

The company’s motor finance segment also achieved breakeven during the quarter. The robust results were welcomed by investors, leading to a positive reaction in the market.

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Beyond

IMF raises India’s FY26 growth forecast to 7.3%

India’s economy is showing renewed strength, prompting the International Monetary Fund (IMF) to raise its growth forecast for the 2025–26 financial year to 7.3 per cent, up from its earlier estimate of 6.6 per cent. The upgrade reflects stronger-than-expected performance in recent quarters and growing confidence in India’s economic momentum.

In its latest assessment, the IMF noted that India’s economy has benefited from resilient domestic demand, improved corporate performance and steady activity across key sectors such as manufacturing, services and infrastructure. A better third-quarter showing and continued momentum into the final months of the fiscal year played a significant role in the revised outlook.

This positive view broadly aligns with official Indian estimates. The National Statistical Office has projected GDP growth of 7.4 per cent for the year ending March 2026, indicating that the economy is holding up well despite global uncertainties.

However, the IMF also offered a note of caution. While near-term prospects remain strong, growth is expected to slow to around 6.4 per cent in FY27 and FY28. According to the Fund, some of the factors supporting current growth, such as post-pandemic recovery effects and supportive fiscal measures, are likely to fade over time, leading to a more moderate but stable growth trajectory.

Even with this expected moderation, India is projected to remain one of the fastest-growing major economies globally, outperforming many advanced and emerging peers. The IMF also pointed to easing inflation pressures, with price levels expected to move closer to the Reserve Bank of India’s target range, helped by lower food inflation and better supply conditions.

In essence, the IMF’s revised forecast paints a balanced picture: confidence in India’s current growth story, coupled with a reminder that sustaining high growth over the long term will require continued reforms, investment and policy discipline.

Also Read: JioHotstar introduces monthly plans from Rs. 79

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Corporate

Sun Pharma linked to possible $10 bn Organon buyout

Sun Pharmaceutical Industries, India’s largest drugmaker, is reportedly exploring a possible $10 billion acquisition of US-based pharmaceutical company Organon & Co, according to media reports. If the deal goes through, it would be one of the biggest overseas acquisitions ever made by an Indian pharmaceutical company and could significantly boost Sun Pharma’s presence in the United States.

Organon is a global pharmaceutical firm that focuses mainly on women’s health medicines, including treatments for fertility, contraception, and menopause. It also has a growing business in biosimilars, which are lower-cost versions of complex biological drugs. The company was created in 2021 after being separated from Merck (MSD) and carries a large debt of around $9.5 billion.

Reports suggest Sun Pharma has appointed a European financial advisor to study the deal and assess its feasibility. The estimated value of $10 billion includes Organon’s existing debt. Industry observers say Organon’s product portfolio and strong presence in the US market could fit well with Sun Pharma’s long-term growth plans, especially in specialty medicines and biosimilars.

If completed, the acquisition would be larger than Sun Pharma’s 2014 purchase of Ranbaxy Laboratories and could help the company expand faster in the highly competitive US pharmaceutical market. Analysts believe the deal could give Sun Pharma access to new therapies, a wider customer base, and a stronger global footprint.

However, Sun Pharma has clarified that the reports are “speculative in nature.” In a statement to stock exchanges, the company said there is no material information to disclose at this stage and that it follows strict regulatory guidelines. It added that any confirmed development will be shared with investors as required by law.

Organon has not made any public comment on the reported talks.

Also Read: Ola Electric CFO quits, Deepak Rastogi takes over

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Technology

JioHotstar introduces monthly plans from Rs. 79

JioHotstar has rolled out monthly subscription plans across all its service tiers, giving users the option to pay on a month-to-month basis instead of committing to longer durations. The new plans will be available to new subscribers from January 28, 2026, while existing users will continue on their current plans as long as auto-renewal remains active.

Under the revised structure, the Mobile plan is priced at Rs. 79 per month. It allows streaming on a single mobile device and is ad-supported. Hollywood content is not included by default but can be added for an extra Rs. 49 per month. Quarterly and annual options for this tier remain unchanged.

The Super plan, priced at Rs. 149 per month, supports streaming on up to two devices simultaneously. It offers full access to JioHotstar’s content library, including Hollywood titles, but continues to carry advertisements. Users can also choose quarterly or annual subscriptions at higher discounts.

For viewers looking for a premium experience, the Premium plan is now available at Rs. 299 per month. This tier supports up to four devices, offers 4K streaming quality, and provides an ad-free experience, except during live sports and live events. Quarterly and annual plans continue to be available for this category as well.

JioHotstar said the introduction of monthly plans is aimed at meeting changing viewer preferences, especially the growing demand for flexible payments and large-screen viewing through connected TVs. The move is expected to attract more users who prefer short-term subscriptions and greater control over their spending.

Also Read: China’s economy grows 5% in 2025

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Beyond

China’s economy grows 5% in 2025

China’s economy grew by 5 per cent in 2025, meeting the government’s annual growth target despite sluggish domestic activity and ongoing trade tensions with the United States. The growth was supported primarily by strong exports, which helped the country navigate challenges from slower consumer spending, low investment, and deflationary pressures.

Data released by Chinese authorities show that GDP rose 5 per cent year‑on‑year, although growth slowed in the fourth quarter to 4.5 per cent, marking the weakest quarterly expansion since the country reopened after the pandemic. Nominal GDP, which does not account for inflation, rose only 4 per cent, highlighting the pressure on domestic economic activity.

Exports remained the key driver of growth. Demand from overseas markets, including Europe, Southeast Asia, Latin America, and Africa, helped offset a slowdown in shipments to the United States caused by higher tariffs. China’s trade surplus reached about $1.2 trillion in 2025, underlining the strength of its external sector.

Domestic consumption and investment, however, showed uneven performance. Retail sales rose only modestly, while fixed‑asset and private investment weakened. Deflation continued for a third straight year, limiting consumer spending and overall confidence. Industrial production held up better, but the domestic economy’s recovery remained fragile.

Policy makers in Beijing acknowledge the imbalance between strong exports and weak internal demand. Plans under the new five‑year strategy aim to strengthen household consumption and the service sector, but authorities are cautious about large-scale stimulus due to local government debt and inflation concerns.

Analysts warn that China’s heavy reliance on exports makes growth vulnerable to future global trade disruptions. Sustainable long-term expansion will depend on boosting domestic demand and implementing structural reforms to encourage private investment and household spending.

Also Read: UAE signs $2.5bn LNG deal with HPCL

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1 Minute-Read

Shadowfax launches ₹1,907 cr IPO, mixed market response on Day 1

Shadowfax Technologies launched its ₹1,907 crore IPO on January 20, priced between ₹118–₹124 per share. The issue combines new shares and an offer for sale by existing investors and will remain open until January 22.

Early data shows moderate overall subscription, with retail investors showing the strongest interest. The grey market indicates potential listing gains of 5–6%, though analysts warn valuations are on the higher side compared to industry peers.

Investors are advised to consider the company’s growth prospects before applying.

Categories
Corporate

UAE signs $2.5bn LNG deal with HPCL

UAE and India have signed a landmark liquefied natural gas (LNG) supply agreement that will deepen energy cooperation between the two nations. The deal, inked between ADNOC Gas, the gas marketing division of Abu Dhabi National Oil Company, and Hindustan Petroleum Corporation Limited (HPCL), is valued at $2.5 billion and spans ten years.

Under the agreement, ADNOC Gas will supply about 500,000 tonnes of LNG annually to HPCL. The gas will be sourced from ADNOC’s Das Island facility, one of the world’s established LNG plants, known for its consistent production and export capacity.

This long-term supply is expected to enhance India’s energy security and support its growing demand for cleaner fuels. HPCL plans to use the imported LNG to fuel its refining operations, as well as expand city gas distribution networks for industrial, residential, and commercial use.

The contract formalizes prior commercial arrangements and converts a heads-of-agreement into a binding sale and purchase pact. Officials from both sides emphasized that this deal positions India as a key LNG customer for the UAE, with Indian companies projected to take a significant portion of ADNOC Gas’ exports in the coming years.

The signing coincided with the official visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan to New Delhi. During the visit, both countries highlighted the broader significance of energy cooperation and reiterated commitments to strengthen trade, technology, and strategic partnerships.

Also Read: Global markets fall on US Greenland tariff threats