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Purvah Green Power (Purvah), a subsidiary of CESC, has today, duly acknowledged the receipt and acceptance of the Letter of Award dated 23 December 2025 issued by the REMC to Purvah, pursuant to open competitive bidding for setting up of Grid-connected Renewable Energy Power Projects, with or without storage Projects(s) for supply of 180 MW Round-the-Clock Power.
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Following a strategic review of Castrol, bp has reached an agreement to sell a 65% shareholding in Castrol to Stonepeak, at an enterprise value of $10.1 billion. The transaction is expected to result in total net proceeds to bp of approximately $6.0 billion, which includes around $0.8 billion for the pre- payment of future dividend income over the short to medium term on bp's retained 35% stake and other adjustments. The implied total equity value of Castrol is $8.0 billion after deducting JV minority interests totaling $1.8 billion, and other debt-like obligations of around $0.3 billion, and subject to customary adjustments. A significant proportion of Castrol JV minority interests relate to the shareholding in the publicly listed Castrol India. Upon completion of the transaction a new joint venture will be incorporated comprising a 65% Stonepeak and 35% bp ownership. bp's retained stake provides exposure to Castrol's growth plan over the coming years, which builds on a strong track record of nine quarters of consecutive year-on-year earnings growth. Following a two year lock-in period, bp has optionality to sell its 35% stake in Castrol. The transaction is expected to complete by end of 2026, subject to regulatory approvals.
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The Transportation Infrastructure business vertical of L&T has won significant order for Mumbai metro railway project. According to the company's project classification, the value of the order is in the range of Rs 1,000 crore to Rs 2,500 crore. The Mumbai metro railway project, Package CA-298, awarded by Mumbai metropolitan Region Development Authority (MMRDA), pertains to the electrification of 24.72 Km long Line 4 that runs between Bhakti Park (Wadala) to Cadbury junction having 22 elevated stations. The scope encompasses design, manufacture, supply, installation, integration, testing and commissioning of power supply and traction systems for 24.72 route km and provision of SCADA system for complete Metro line 4 & 4A for 32 stations, depots and receiving substation. All work will be carried out by L&T's in-house design and execution team. The scope also includes electrical and mechanical works, Lift & Escalators for 22 elevated stations and 2 Depots, along with five years of comprehensive maintenance. This is the third successive order that L&T has won in the Line-4&4A corridor of Mumbai Metro. It had earlier won the order for Package CA-234, involving rolling stock, Communications-Based Train Control (CBTC) signalling, telecommunications, platform screen doors and depot machinery & plant for the entire corridor, and another order for Package CA-168, involving 19.5 km ballast-less track-works across 15 stations.
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