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EquityPandit

EquityPandit
BUSINESS

Adani Buys Macquarie Infra’s Toll Roads in Andhra

Picture Source: Internet

On Thursday, Adani Road Transport Ltd (ARTL), a subsidiary of Adani Enterprises, signed an agreement with Macquarie Asia Infrastructure Fund. The purpose of this agreement is to acquire 56.8 per cent shares in Gujarat Road and Infrastructure Company Ltd (GRICIL) and whole shares in Swarna Tollway Pvt Ltd.

Till September, the deal, which was executed at Rs 3,110 crore, will give Adani control over four stretches of toll roads in Andhra Pradesh and Gujarat, as per the company’s statement. There are two stretches in Swarna Tollway for toll roads in Andhra Pradesh, Tada to Nellore on NH-16 connecting important ports such as Chennai and Krishnapatnam in Andhra Pradesh, and Nandigama to Ibrahimpatnam to Vijayawada.

Two toll roads which operated by GRICL, whereas Adani owns its flagship Mundra Port, Ahmedabad to Mehsana on SH-41, with a majority of passenger traffic connecting important northern Gujarat corridors. Also, WDFC (Western Dedicated Freight Corridor passes through Mehsana. On the other hand, the second road from Vadodara is part of the Delhi Mumbai Industrial Corridor.

Recently, eight Hybrid Annuity Mode (HAM) projects were operated by Adani, five builds operate transfer projects, and one toll operates road projection in ten states in India. Moreover, the projects under management are also operated by Adani for Rs 41,000 crore.

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WORLD

Pentagon plans to cut up to 60,000 civilian jobs

Dhruva Kulkarni

The Department of Defense plans to cut 50,000 to 60,000 civilian jobs, targeting a 5% to 8% reduction in its 900,000-strong workforce.

Around 6,000 positions per month will be eliminated by not replacing departing workers, raising concerns that service members may fill vacant roles.

The reduction will occur through voluntary resignations, firing probationary workers, and leaving vacated positions unfilled.

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Defense Secretary Pete Hegseth assured that military readiness would not be affected, though some veterans will be impacted.

A federal judge has temporarily halted the termination of 5,400 probationary employees, initially dismissed for poor performance or misconduct.

Officials are reviewing personnel to ensure essential national security roles remain unaffected.

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WORLD

China welcomes PM Modi’s remarks on India-China ties

Dhruva Kulkarni

China welcomed Prime Minister Narendra Modi’s positive remarks on India-China ties, emphasising that cooperation between the two nations is the way forward.

Chinese Foreign Ministry spokesperson Mao Ning said the Xi-Modi meeting in Kazan last year provided strategic guidance for improving ties.

She noted both countries have strengthened exchanges and cooperation, achieving positive outcomes in various areas.

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China expressed readiness to work with India to enhance cooperation and advance stable bilateral relations, marking 75 years of diplomatic ties.

In a podcast with Lex Fridman, Modi said normalcy has returned to the India-China border after talks with Xi, emphasising their long-standing cultural ties.

He stressed that India-China cooperation is crucial for global stability, adding that competition between the two should be healthy, not conflict-driven.

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Russia, US May Start Ukraine Peace Talks Today

Dhruva Kulkarni

Russia has signalled its willingness to have peace talks with the US over Ukraine, with discussions possibly beginning as early as today, according to Foreign Ministry spokeswoman Maria Zakharova.

The development comes after high-level diplomatic talks in Saudi Arabia, where Ukraine showed openness to a 30-day ceasefire, and the US agreed to present the proposal to Moscow.

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The Kremlin confirmed that US negotiators were heading to Russia, indicating a potential step forward in diplomatic engagements between the two nations.

Kremlin adviser Yuri Ushakov spoke with US National Security Adviser Mike Waltz on Wednesday, emphasising ongoing diplomatic efforts to find a resolution to the conflict.

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WORLD

Greenland Opposition Party Secures Victory in Legislative Elections

Dhruva Kulkarni

Greenland’s centre-right opposition secured a surprise victory in the legislative elections, with rising support for the nationalist Naleraq party advocating swift independence.

The Democratic Party won 29.9% of votes, tripling its 2021 result, while Naleraq more than doubled its share to 24.5%.

Outgoing PM Mute Egede’s Inuit Ataqatigiit party and its coalition partner Siumut placed third and fourth.

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With no party securing a majority, coalition talks will shape the next government and its approach to independence.

Trump’s renewed push to acquire Greenland influenced the campaign, driving higher voter turnout.

Naleraq seeks immediate independence, but others prefer financial stability first, as Greenland relies on Danish subsidies.

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WORLD

Can Europe’s $20 Billion AI Gigafactories Compete?

Dhruva Kulkarni

Europe plans to invest $20 billion in four AI gigafactories to compete with the US and China, but experts question their feasibility.

These data centres face major challenges, including chip shortages, power constraints, and a lack of cloud service providers like Google or Amazon.

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The project is part of InvestAI, a €200 billion initiative, but still trails US efforts like Stargate.

Each gigafactory will house 100,000 advanced chips, requiring billions in investment.

Experts debate whether funds should focus on AI applications instead, as past EU tech initiatives struggled to meet goals.

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