Power Financial News

Gas pipelines owner APA Group is set to make its biggest investment in electricity generation and battery storage assets, advancing its transformation into a broader Australian energy infrastructure group.

Congress president Mallikarjun Kharge said that the party will conduct a caste census in the state if voted to power in the next assembly elections. Addressing a public rally in Sagar, Madhya Pradesh, Kharge's first poll outing in MP, he accused the central government of trying to change the constitution. «Some people are trying to change the Constitution.

Stock market today: Adani group shares have been in uptrend for last few trade sessions. Out of 10 Adani shares, Adani Power share price has ascended from ₹280 to ₹343 apiece levels in last four sessions, logging near 22.50 per cent rise in this time. Adani Ports share price has 776 apiece levels to ₹869 per share levels on NSE, logging around 12 per cent appreciation in last four sessions.

Tata Power Company Ltd. traded 0.22 per cent higher in Tuesday's session at 11:58AM (IST).

Voltamp Transformers(up 4.71%), Reliance Power(up 4.59%), RTNPOWER(up 4.21%), Torrent Power(up 4.14%), Inox Wind Energy(up 3.21%), Adani Power(up 2.85%), Inox wind(up 2.75%), Hitachi Energy India(up 2.57%), Suzlon Energy(up 2.51%) and Alstom T&D India(up 1.96%) were among the top gainers. NHPC(down 1.00%), ADANIGREEN(down 0.84%), Kalpataru Projects International(down 0.69%), Orient Green Power Company(down 0.67%), Indo Tech Transformers(down 0.45%), Energy Development Company(down 0.31%), Karma Energy(down 0.12%), PTC India(down 0.08%) and JSW Energy(down 0.08%) were among the top losers. The NSE Nifty50 index was trading 23.05 points up at 19416.65, while the 30-share BSE Sensex was up 61.44 points at 65277.53 at around 10:50AM. HDFC LIFE INSURANCE(up 4.02%), SBI Life(up 2.46%), Adani Enterprises(up 1.46%), Bajaj Finance(up 1.34%), NTPC(up 1.23%), ITC(up 0.93%), Bajaj Finserv(up 0.85%), Power Grid Corporation of India(up 0.67%), Larsen & Toubro(up 0.48%) and Oil & Natural Gas Corporation(up 0.48%) were among the top gainers in the Nifty pack. On the other hand, Cipla(down 0.88%), Titan Company Ltd(down 0.79%), Eicher Motors(down 0.7%), LTIMindtree Ltd(down 0.66%), Tata Consultancy(down 0.57%), Tech Mahindra(down 0.55%), Infosys(down 0.48%), Sun Pharmaceutical Industries(down 0.45%), Divis Laboratories(down 0.36%) and Nestle India(down 0.34%) were trading in the red.

Adani Power have risen 15% in three sessions and are poised for another 10% upside from here riding on the current momentum but any fresh move in the stock should only be made on declines for a favourable risk-to-reward ratio, experts tell ETMarkets. Notwithstanding an 8.1% stake sale to the US-based investment firm GQG and other investors in a $1.1 billion deal last week, the stock has displayed significant momentum since hitting a 52-week low of Rs 132.40 on the NSE on February 28 as a fallout of the Hindenburg report. The stock has since then given multibagger returns of 145%. Despite market upheavals over the past one month where the 50-stock Nifty has delivered a negative return of 1.42%, this Adani stock has rallied more than 37%. Adani Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) and Monday's move has taken the stock into an overbought zone.

Adani Power Ltd. traded 3.73 per cent up at Rs 337.2 on Tuesday at around 10:00AM (IST), while the benchmark BSE Sensex declined 0.71 points to 65215.38. As many as 1,840,866 shares changed hands on the counter with a total value of Rs 6243.0 crore. The stock quoted a 52-week high price of Rs 432.8 and a 52-week low of Rs 132.55. On the technical charts, the 200-DMA of the stock stood at Rs 251.79, while 50-DMA was at Rs 262.94.

Tata Power share price opens nearly a percent higher a day after the company announced its subsidiary Tata Power Renewable Energy has signed a Power Purchase Agreement (PPA) for 9MWp on campus solar plant with Tata Motors Pantnagar plant in Uttarakhand. Tata Power share price started the day at ₹241.50, up ₹2.15, or 0.90%, against yesterday's closing price of ₹239.35.

Adani Enterprises: Kempas Trade and Investment Ltd., a promoter of Adani group, has said that it increased its stake in the group's flagship Adani Enterprises buying a 2.22% stake in the company from the open market between 7 August and 18 August. The stake purchase could be worth ₹6,348.12 crore according to the volume weighted average price of Adani Enterprises during that period. With the latest purchase, Kempas Trade and Investment’s promoter stake in Adani Enterprises has risen to 69.87% from 67.65%.

MUMBAI: Power Grid Corporation is likely to raise up to 1,900 crore next week through the issuance of 10-year bonds, which will have an annual redemption structure for investors. The bond issue is likely to have a base size of 500 crore and a greenshoe option of 1,400 crore, sources said.

PaytmFintech giant Paytm said it is investing in AI to build an Artificial General Intelligence software stack.Adani EnterprisesThe promoter group increased stake in Adani Enterprises in August, buying 2.2% during the month.Welspun EnterprisesWelspun Enterprises has announced the successful acquisition of a 50.10% stake in Michigan Engineers.Union Bank The Board approved raising of funds up to Rs 5000 crore through issue of equity shares via qualified institutions placement.Read more: What changed the market while you were sleepingTata PowerTata Power Renewable Energy signs PPA for 9 MWp on campus solar plant with Tata Motors for Pantnagar plant in Uttarakhand.Jio FinancialShares of Jio Financial Services (JFSL) will move out of the trade-for-trade segment and be part of the rolling segment, effective September 4, BSE and NSE said via separate circulars.Adani PowerAdani Power targets 21,110 MW thermal capacity by fiscal 2029. Net senior debt is seen at Rs 26,690 crore in FY24.BHELBHEL has received an order from Mahan Energen, a unit of Adani Power.

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Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, signed a power purchase agreement (PPA) for 9MWp on-campus solar plant with Tata Motors’ Pantnagar plant in Uttarakhand, the company said in a statement. This solar plant will be the largest on-campus solar facility in the state, it added. The solar installation includes an effective approach towards Tata Motors sustainable future goals, with an estimated carbon emission reduction of 25 tonnes of CO2/kWp in Uttarakhand.

lending rate by 10 basis points. However, it surprised analysts by keeping the five-year rate unchanged. Analysts expected both rates to go down by 15 basis points (bps) as China, the world's second-largest economy, is facing problems like falling property prices, less spending, and decreasing credit growth.

Adani Power(up 5.83%), KEC International(up 4.50%), Adani Transmissions(up 4.44%), Karma Energy(up 3.25%), ADANIGREEN(up 2.18%), NLC India(up 2.15%), Power Grid Corporation of India(up 1.93%), Voltamp Transformers(up 1.89%), GE Power India Limited(up 1.69%) and Tata Power Company(up 1.54%) were among the top gainers. Orient Green Power Company(down 4.24%), Indo Tech Transformers(down 3.82%), K.P.I.

Adani Power shares gained 5% to the day's high of Rs 321.90 on the NSE in Monday's trade, maintaining a two-session winning streak, following an 8.1% stake sale to the US-based investment firm GQG, along with other investors in a $1.1 billion deal last week. The other nine stocks from the Adani Group stable were also up in the morning session, riding on the positive sentiments. In the Nifty pack, Adani Ports & Special Economic Zone was the top gainer, up 2.4% while Adani Enterprises was higher by 2%.

Adani group share price: Adani group shares have been in uptrend for the last few sessions. After bulk deal buzz by GQG partners, Adani Power share price has been rising for the last three sessions. In this time, Adani Power share has surged from ₹280 to ₹323 apiece levels, logging near 15 per cent rise in this time.

British Prime Minister Rishi Sunak is set to spend $130 million (100 million pounds) to buy thousands of computer chips to power artificial intelligence, amid a global shortage and race for computing power.

Donald Trump, who is seeking his term, has once again raised the issue of high tax by India on certain American products in particular the iconic Harley-Davidson motorcycles, and has threatened to slap with reciprocal tax if voted to power in the 2024 presidential elections. During his first term as the US president, Trump described India as a «tariff king» and in May 2019, terminated India's preferential market access — Generalised System of Preferences (GSP) — to the United States alleging India has not given the United States «equitable and reasonable access to its markets.» In an interview to Larry Kudlow of Fox Business News, Trump said came down heavily on India tax rates, which he alleged was quite high. «The other thing I want to have is a matching tax where, if India charges us — India is very big with tariffs.

Australia’s green bank is poised for its first investments in the power grid as it gears up for another busy year after a record 12 months of investment commitments in 2022-23.

Barbie," the captivating creation starring Margot Robbie and Ryan Gosling. Helmed by the directorial prowess of Greta Gerwig, this cinematic venture, which made its theatrical debut alongside Christopher Nolan's "Oppenheimer" on July 21, 2023, unfolded as a fascinating online spectacle. Even before the grand unveiling of these two blockbuster movies, the digital realm was abuzz with fervor, christening the co-release phenomenon as "Barbenheimer." The unique cinematic aura surrounding Gerwig's work promptly struck a chord with the audience, enrapturing their hearts and evoking their love for the film.