County Power Financial News

New Delhi: Rays Power Infra, a solar power company, on Monday said it has signed an engineering, procurement, and construction (EPC) term sheet for a 283-MW solar project with Serentica Renewables, an end-to-end energy solutions company focusing on industrial decarbonisation. Based on the agreement between the two companies, Rays Power Infra shall be responsible for the engineering, procurement, and construction of a 283MWdc solar PV project using single-axis trackers and bifacial modules, it added. “We are pleased to inform you that Rays has signed a 283 MWp Solar EPC project with Serentica Renewables.

Q1 results today: Amid weak sentiments at Indian stock market, experts are buys advising intraday trading members to indulge in stock specific trade. So, for such day traders, Q1 results 2023 becomes an important event in deciding their buy or sell stocks. So, stock market investors are expected to remain vigilant about the Q1 results 2023, which is expected today.

The week ahead is also expected to be a busy one for Dalal Street investors, as a slew of companies are scheduled to release quarterly earnings. This is likely to keep action extremely stock-centric. Moreover, foreign investors have slowed down their pace of buying. While the overall trajectory for markets remains positive, consolidation is likely on cards after the strong rally in the recent months. “In the coming days, domestic earnings will remain a crucial driver, while global cues will also play a vital role in shaping market trends,” said Vinod Nair, head of research, Geojit Financial Services.

New Delhi, Power Grid Corporation's board has approved a proposal to raise up to Rs 5,700 crore through issuance of bonds on private placement basis in multiple tranches in 2023-24. The fund raised will be used to part finance its capex requirement, for providing inter corporate loans to wholly-owned subsidiaries/JVs and for general corporate purposes.

A top official in charge of the Fukushima Daiichi nuclear power plant says an upcoming release of the treated radioactive water into sea more than 12 years after the meltdown disaster marks “a milestone."

Nalwa Steel and BTL EPC plan for bankrupt McNally Bharat Engineering resulted in a tie, as both resolution plans received an equal number of votes from lenders, said people aware of the development. Resolution plans given by Naveen Jindal-promoted Nalwa Steel and Power and Kolkata-based Shrachi Group-promoted BTL EPC received 90.16% voting resulting in a tie-breaker situation on Wednesday when the voting deadline ended for the company undergoing insolvency proceedings. As per the Insolvency and Bankruptcy Board of India (IBBI) the resolution professional is mandated to invite lenders to vote on all eligible plans.

ReNew Power and clean energy solutions provider Gentari on Wednesday announced a strategic collaboration to form a 50:50 joint venture for exploring avenues to invest in 5 GW renewable capacity in India. The collaboration between the parties follows Gentari's initial investment for a 49 per cent equity stake in ReNew's 403 MW Peak Power project in May this year, a company statement said.

allianceof the leading opposition parties called INDIA has moved the no-confidence or (no-trust) motion agaisnt Prime Minister Narendra Modi governement in Lok Sabha on Wedneday to force the PM to speak on Manipur violence. Congress leader Gaurav Gogoi submitted a notice for no-confidence motion against the government in the Lok Sabha today. Earlier this month, 26 opposition parties formed Indian National Developmental Inclusive Alliance (INDIA).

Tata Power - Delhi Distribution Ltd (DDL) said that it met the demand of 2,182 MW on Tuesday. “Today, Tata Power-DDL successfully met the demand of 2,182 MW. This has successfully demonstrated that our customers‘ increasing energy needs were taken care of without any network limitations or power disruptions." Although the peak demand this year touched a record high of 223 GW last month, the overall power demand this year has largely been in check amid the sporadic rains across the country.

Excessive heat continues to bear down on sections of the United States, a reminder of the impetus for the The Inflation Reduction Act, the significant climate legislation that turns one year old on August 16

Ashok Leyland(up 3.27 per cent), TIINDIA(up 0.71 per cent), Sona BLW Precision Forgings(up 0.66 per cent), Tata Motors(up 0.44 per cent) and Maruti Suzuki(up 0.18 per cent) were among the top gainers. Bosch(down 0.75 per cent), Hero MotoCorp(down 0.68 per cent), Bharat Forge(down 0.53 per cent), Balkrishna Industries(down 0.43 per cent) and Samvardhana Motherson International(down 0.36 per cent) were the top losers on the index.

State Bank of India(up 1.29 per cent), IDFCBANK(up 1.04 per cent), Bank of Baroda(up 0.63 per cent), Kotak Mahindra Bank(up 0.52 per cent) and Punjab National Bank(up 0.23 per cent) were among the top gainers. Federal Bank(down 1.79 per cent), IndusInd Bank(down 0.99 per cent), HDFC Bank(down 0.63 per cent), ICICI Bank(down 0.55 per cent) and Axis Bank(down 0.47 per cent) were the top losers on the index.

Azure Power India is in talks with their onshore lenders to modify the terms of the ₹1,680-crore loans, which gives banks the right to increase the pricing on the rupee loan or even recall the debt facilities if the rating is downgraded from the current level, said a research report. Last week, Crisil Ratings downgraded the loan facility of Azure Power India to BBB+, citing a delay in releasing audited results for the financial year ending March 2022.

utpidan, pakshpat and atyachar' - oppression, favoritism and atrocities, He also added Congress has no right to be in power in Rajasthan even for a minute. Addressing a rally after launching the BJP's "Nahi Sahega Rajasthan" campaign, Nadda said, "UPA of Congress stands for 'utpidan, pakshpat and atyachar'." "Whereas the NDA (National Democratic Alliance) government led by Prime Minister Narendra Modi is working with the mantra of 'sabka saath, sabka vikas, sabka vishwas and sabka prayas'," he said.

Tata Power on Friday said its 7.5 lakh consumers in Mumbai to get substantial tariff reduction after an order by Appellate Tribunal for Electricity (APTEL), staying hike by state regulator MERC. «The APTEL today passed an order granting interim relief sought by Tata Power by staying the Maharashtra State Electricity Regulatory Commission's (MERC) revised tariff schedule on MTR (multiple tariff revision) frameworks approved by the Hon'ble Maharashtra Electricity Regulatory Commission (MERC),» a company statement said.

Japan’s Inpex Corporation has plunged into renewable energy development in Australia with an investment of more than $650 million, significantly reducing its concentration in the under-pressure gas sector.

Italian renewables player Enel is expected to sign terms this afternoon to sell 50 per cent of Enel Green Power Australia to Japan’s INPEX in a deal that values the entire business at €400 million ($655 million) including €140 million debt.

In a move likely unnoticed by most Ontarians, the province has inched closer toward a decade-defining victory of energy policy. Last week, Ontario Power Generation submitted an application to the Canadian Nuclear Safety Commission (CNSC) to extend the life of the Pickering nuclear generating station until the fall of 2026.

Jyoti Structures(up 4.85%), KPI Green Energy(up 4.08%), Suzlon Energy(up 3.46%), SJVN(up 2.77%), Kalpataru Projects International(up 2.06%), Reliance Power(up 1.99%), NHPC(up 1.85%), JSW Energy(up 1.64%), Voltamp Transformers(up 1.64%) and DPSC(up 1.59%) stood among the top gainers. Inox wind(down 3.96%), Inox Wind Energy(down 3.07%), Power & Instrumentation(Gujarat)(down 2.70%), GE Power India Limited(down 1.28%), RTNPOWER(down 0.99%), Hitachi Energy India(down 0.89%), Energy Development Company(down 0.85%), Karma Energy(down 0.83%), Jaiprakash Power Ventures(down 0.82%) and Gujarat Industries Power(down 0.75%) were among the top losers of the day.

BSE MidCap stocks displayed impressive performance as ABB India, Bharat Electronics, Polycab India, CG Power and Industrial Solutions, Samvardhana Motherson International, Muthoot Finance, Power Finance Corporation, and REC reached new 52-week highs. The data was sourced from BSE at 12.50 pm, and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.1. ABB IndiaABB India, a leading global technology company, soared to new heights as its stock reached a 52-week high of Rs 4,521.35.2. Bharat ElectronicsBharat Electronics, a premier defense electronics company, achieved a significant milestone by hitting a 52-week high of Rs 127.95.3. CG Power and Industrial SolutionsCG Power and Industrial Solutions witnessed a remarkable surge as its stock touched a new 52-week high of Rs 398.80.4. Samvardhana Motherson InternationalSamvardhana Motherson International, a leading automotive component manufacturer, achieved a new 52-week high of Rs 93.5. Muthoot FinanceMuthoot Finance, a renowned non-banking financial company, witnessed strong market momentum as its stock surged to a 52-week high of Rs 1,279.35.6. Power Finance CorporationPower Finance Corporation, a leading financial institution in the power sector, demonstrated strong performance as its stock touched a 52-week high of Rs 230.40.7. Polycab IndiaPolycab India, a leading manufacturer of wires and cables, witnessed a significant breakthrough as its stock surged to a new 52-week high of Rs 3,745.95.8. RECREC Limited, a government-owned infrastructure financing company, achieved a new milestone with its stock touching a 52-week high of Rs 171.

Government of Meghalaya and NTPC Limited have signed a series of Memorandum of Understanding (MoUs) aimed at enhancing the power scenario in Meghalaya. The signing ceremony took place at New Delhi in the presence of Chief Minister Conrad K Sangma, Power Minister Abu Taher Mondal, Gurdeep Singh, Chairman and Managing Director of NTPC Limited and Sanjay Goyal, CMD, MeECL. These strategic MoUs mark a significant milestone in the collaborative efforts to uplift the power infrastructure and connectivity across Meghalaya.