County Power Financial News

Au Small Finance Bank Ltd.(up 5.53 per cent), Bandhan Bank Ltd.(up 3.63 per cent), HDFC Bank Ltd.(up 1.9 per cent), IDFC First Bank Ltd.(up 1.6 per cent) and Kotak Mahindra Bank Ltd.(up 0.42 per cent) were among the top gainers.

GE Power India on Wednesday said it has secured two orders worth Rs 774.9 crore from Jaiprakash Power Ventures. GE Power India got two orders for D&E and supply of wet limestone-based FGDs for the Nigrie Super Thermal Power Plant at Nigrie and Bina Thermal Power Plant at Bina from Jaiprakash Power Ventures, a BSE filing stated.

construction on a major dam site in northwestern Pakistan after being provided with extra security, officials said Wednesday, following a deadly attack on Chinese engineers. Power China and the China Gezhouba Group Company had halted work on a pair of dam projects last month in Khyber Pakhtunkhwa province after a suicide bomber killed five Chinese nationals and a Pakistani driver, causing their van to plunge into a deep ravine.

Indo Tech Transformers Ltd.(up 11.07%), Energy Development Company Ltd.(up 9.88%), GE Power India Ltd.(up 9.17%), JSW Energy Ltd.(up 7.23%), Adani Power Ltd.(up 5.00%), GE T&D India Ltd.(up 5.00%), RattanIndia Power Ltd.(up 4.98%), Reliance Power Ltd.(up 4.96%), Orient Green Power Company Ltd.(up 4.87%) and Indowind Energy Ltd.(up 4.85%) stood among the top gainers.

Brigade Enterprises Ltd.(up 0.86 per cent), Phoenix Mills Ltd.(up 0.57 per cent), Prestige Estates Projects Ltd.(up 0.41 per cent), Mahindra Lifespace Developers Ltd.(up 0.22 per cent) and Swan Energy Ltd.(up 0.13 per cent) were among the top gainers.

Indian Air Force (IAF) Chief VR Chaudhari on Wednesday said Balakot-like operations have shown that, given the political will, aerospace power can be effectively carried out beyond enemy lines, in a no-war, no-peace scenario, without escalating into a full-blown conflict. The IAF Chief said this in his inaugural address at the 15th Jumbo Majumdar International Seminar on Aerospace Power in Future Conflicts in New Delhi on Wednesday. «Balakot-like operations have shown that, given the political will, aerospace power can be effectively carried out beyond enemy lines, in a no-war, no-peace scenario, under a nuclear overhang without escalating into a full-blown conflict. Ongoing conflicts across the globe have brought out significant lessons for nations in general and air power in particular. Fora such as this are crucial towards developing a better understanding of the nuances of air power application in modern battlespaces,» he said.

Ashok Leyland, Mankind Pharma, Vedanta, Lupin, Paradeep Phosphates among others will be in focus due to various developments. Ashok Leyland The Board of Ashok Leyland has declared an interim dividend of Rs 4.95 per share for the financial year ending 2023-24.

By Jamie McGeever

Stock Market News: The domestic benchmark equity indices, the Sensex and the Nifty 50, closed Wednesday's choppy session on flat note. However, the underlying market patterns were not very discouraging. Maruti Suzuki, Nestle India, Power Grid, and SBI were among the stocks that were on spotlight today.

The 30-share BSE benchmark Sensex rose 90 points or 0.12% to settle at 72,102 and the broader NSE Nifty gained 22 points or 0.10% to end at 21,839, led by energy stocks.

made-in-India’ chip from the Micron plant is expected in December 2024. This is significant, as chip shortages during the global pandemic lockdowns heightened realisation of India’s dependency on international supply chains. While the start seems promising, the odds appear to be stacked against India, for now at least.

BSE SmallCap index up 0.70%, and the BSE MidCap index up 0.45%. Sensex Today Live : Mahindra & Mahindra, Tata Steel, Tata Motors, HCL Tech, and Apollo Hospital Enterprises, were the top gainers on the Nifty 50, while Adani Enterprises, Adani Ports & SEX, Eicher Motors, Power Grid Corp., and Grasim Industries, were the top losers.

Vedanta-Foxconn joint venture, is expected to have an investment of around $20 billion. In a significant boost to India's efforts to establish a robust semiconductor ecosystem, Prime Minister Narendra Modi on Wednesday laid the foundation stones for three new chip manufacturing plants, two in Gujarat and one in Assam. The event, titled 'India's Techade: Chips for Viksit Bharat,' marked a milestone in the country's endeavour to ramp up its semiconductor industry.

NEW DELHI : Adani Electricity Mumbai Ltd, Torrent Power Surat, and Torrent Power Ahmedabad have topped in the power ministry’s integrated rating of electricity distribution companies, or discoms, for FY23. Dakshin Gujarat Vij Co. Ltd and Uttar Pradesh Vij Co.

Adani Electricity Mumbai has topped the chart in the performance ranking of power distribution companies for 2022-23, a statement said on Monday. Torrent Power Surat and Torrent Power Ahmedabad were at second and third spots in the 12th edition of Integrated Rating of Discoms released by Union Minister for Power and New & Renewable Energy R K Singh. As many as 14 out of 55 distribution companies received the highest A+ rating. Utilities of Gujarat, Haryana, Karnataka, Madhya Pradesh and Andhra Pradesh were in A+ / A category, a power ministry release stated. In all, out of the 55 utilities which have been rated, 14 have received a performance rating of A+, 4 have received A, 7 have received B, 13 have received B-, 11 have received C and 6 have received the rating of C-. No utility has received the lowest rating of D, the ministry said.

Supreme Court is set to hear the SBI plea seeking an extension on providing details about electoral bonds on March 11. The largest commercial bank in India has requested the court to extend the deadline till June 30, which is after the Lok Sabha elections 2024. A bench led by Chief Justice of India (CJI) DY Chandrachud is also expected to hear the contempt petitions with the case on Monday.

Karnataka government on Friday approved six new projects and eight additional investment proposals worth Rs 17,835.9 crore, with a potential to generate 27,000 jobs across the state, officials said. The State High-Level Clearance Committee (SHLCC), headed by Chief Minister Siddaramaiah, at its meeting here, gave the nod to new projects worth Rs 8,220.05 crore, and additional investment ones worth Rs 9,615.85 crore, they said. The new projects include Wistron Infocomm Manufacturing India's proposal to invest Rs 2,095 crore and provide employment to 21,723 in the state, officials said. According to an official statement, other major proposals that received the government's green signal are: Air India Limited (Rs 1,750 crore investments), ICT Service Management Solutions (India) Private Limited (Rs 1,450 crore), STT Global Data Centres India Private Limited (Rs 1,352.3 crore) and Indian Cane Power Limited (Rs 1,078 crore).

Torrent Power Ltd.(up 1.77%), KKV Agro Powers Ltd.(up 0.16%) and Kalpataru Projects International Ltd.(up 0.06%) were among the top gainers.

IRCTC, JM Financial, Zomato, Samvardhana Motherson among others will be in focus due to various news developments IRCTC IRCTC has signed an MoU with Swiggy to provide pre-ordered meals to passengers via IRCTC e-Catering Services. The services will be made available initially on Bengaluru, Vijayawada, Visakhapatnam & Bhubaneswar stations.

Harsha Upadhyaya, CIO-Equity, Kotak AMC, says it is definitely difficult to find value buys in this market, but there are several sectors which are likely to grow at a decent teens kind of earnings trajectory. Those are the names which will have potential to outperform the market. Maybe the volatility will increase, but still there is enough growth on the table. Upadhayaya further says: “It is not that mid and smallcaps will not give returns or correct a lot at this point of time, it is just that from a risk-reward perspective, it makes sense to have a little bit of tilt towards largecaps and that is what we have been suggesting to most of our investors.”