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Kumar Mangalam Birla-owned Hindalco faces its most serious challenge yet from Gautam Adani’s Kutch Copper. Neither side is willing to cede ground in a battle royal seen as a plus for copper-starved India.

The Adani group plans to spend Rs 1 lakh crore over the next five years to develop its airport business. While everything—including the funding—is sorted, a prolonged war could disturb the math.
Despite a higher offer, creditors chose Gautam Adani’s Adani Enterprises—setting up a courtroom fight that raises questions over the bankruptcy resolution process’s priorities.
From crippling solar tariffs and a sovereign fund exit to revived power contracts, a turbulent week highlights the group’s contested yet indispensable role in India’s energy transition.