Last month, the business empire of Eike Batista, once the world’s seventh-richest man and a mascot of economically resurgent Brazil, collapsed. The disaster ought to focus our minds on the perils of credit-fueled economic growth and highly leveraged corporations not just in Brazil but also in other BRICS countries.
Adani Power Ltd., controlled by Indian billionaire Gautam Adani, surged in Mumbai trading after the national electricity regulator decided to compensate the utility following an unexpected increase in coal costs.
Adani Power Ltd. , the generation arm of India’s biggest coal importer, said it plans to spend about 825 billion rupees ($17.5 billion) to increase capacity almost 17-fold to 16,500 megawatts in the next four years.
Adani Power Ltd. , the generation unit of India’s biggest coal importer, fell by a record in Mumbai trading after Gujarat state’s electricity regulator ruled that the company must honor a supply agreement.
Lanco Infratech Ltd. , an Indian energy and infrastructure company, plans to borrow from Chinese banks, joining rivals in seeking cheaper funds for equipment contracts for plants in the South Asian nation.