Power Financial News

renewable energy RK Singh will a 660 MW unit at NTPC’s Barh Super Thermal Power Project in Bihar on 18 August. "The 660 MW unit being inaugurated is unit #2 of stage-one of the project.

SJVN Ltd has inked two pacts with Punjab State Power Corporation Ltd (PSPCL) to supply 1,200 MW of solar power from its projects, Punjab Chief Minister Bhagwant Mann said here on Thursday. Satluj Jal Vidyut Nigam signed two power purchase agreements (PPAs) for 1,200 MW solar power recently. PSPCL had floated tenders for procurement of power from solar projects located in Punjab and other parts of the country.

BSE Sensex ended at 65,151.02 down 388.40 points or down 0.59 per cent while the Nifty also closed at 19,365.25 level, down 99.75 points or 0.51 per cent. Consumer stocks fell 0.89 per cent, led by a 2.05 per cent decrease in heavyweight ITC as analysts warned that the recent rise in its share prices may have limited rerating potential. IT fell 0.49 per cent on concerns about further monetary policy tightening in the US.

National Company Law Tribunal on Wednesday allowed GE Power to withdraw its insolvency petition against public sector undertaking, Bharat Heavy Electricals Ltd, with the liberty to revive if the operational debt is not settled. Counsels for GE Power Akshay Sapre, along with Abhijit Swarup and Aneesha Rastogi from The Guild, a law firm, informed the tribunal that BHEL had sent a letter to GE Power to settle Rs 25 crore of debt amount owed to GE Power.

Power Finance Corporation Limited (PFC) appointed Parminder Chopra as Chairman and Managing Director (CMD), with effect from August 14, 2023 becoming the first woman to lead the company, the NBFC announced on Thursday. Previously, she was holding the additional charge of Chairman and Managing Director (CMD) since June 1, 2023 and was Director (Finance), PFC since July 1, 2020.

Tata Power Company Ltd. rose 0.79 per cent to Rs 233.05 in Thursday's trade. It hit an intraday high of Rs 235.9 and low of Rs 231.9, respectively, during the day.

Survivors of deadly wildfires on Maui contended with intermittent power and unreliable cell service as they sought help rebuilding their lives. Experts, meanwhile, labored to find the dead and identify them.

Stock market today: Goldman Sachs GQG Partners International Opportunities Fund has bought fresh stake in Adani Power Ltd. As per the in formation available on Indian stock market exchanges, the US-based investor bought 10,30,30,127 Adani Power shares paying ₹279.15 apiece. This means, Goldman Sachs fund has invested ₹28,76,08,59,952.05 or ₹2,876 crore in Adani Power.

Alstom T&D India(up 4.99%), Karma Energy(up 3.53%), RTNPOWER(up 2.13%), Adani Power(up 1.68%), Orient Green Power Company(up 1.67%), PTC India(up 1.36%), NHPC(up 1.21%), Reliance Power(up 1.19%), Energy Development Company(up 0.91%) and Indowind Energy(up 0.74%) were among the top gainers. Indo Tech Transformers(down 4.99%), JSW Energy(down 3.02%), Suzlon Energy(down 2.22%), Inox wind(down 1.49%), SJVN(down 1.13%), Power Grid Corporation of India(down 1.03%), GE Power India Limited(down 0.94%), Gujarat Industries Power(down 0.89%), Voltamp Transformers(down 0.85%) and ADANIGREEN(down 0.79%) were among the top losers.

₹288.25 apiece on the BSE. GQG Partners bought 31 crore shares of Adani Power in the largest ever secondary market equity deal.

Adani Ports: Two promoter entities have raised shareholding in Adani Ports and Special Economic Zone Ltd by over 2 per cent. As per the information shared by the company with Indian stock market exchanges two promoter entities Resurgent Trade and Investment Ltd and Emerging Market Investment DDC have acquired fresh stakes in Adani Ports via the open market.

Adani PowerGQG Partners along with other investors picked up 8.1% in Adani Power in a $1.1 billion deal.JSW EnergyGQG Partners Emerging Market Fund bought 10,284,024 shares or 0.6% stake in JSW Energy at Rs 341.70 apiece for Rs 351 crore.Read more: What changed the market while you were sleepingIndiGo The family of IndiGo's co-founder Rakesh Gangwal has sold partial stake in the budget carrier through bulk deals on Wednesday.CiplaThe FDA, Konkan Division, has ordered for suspension of FDA license issued to the company's manufacturing unit at Patalganga (Unit II) for a period of 10 days in December 2023 for non-conformance of good manufacturing practices.Religare EnterprisesInvestment Opportunities fund has sold 2.45 crore shares in the company through block deals on Wednesday.IIFL SecuritiesHamblin Watsa Investment Counsel has sold 1.2 crore shares or 3.9% stake in IIFL Securities in a block deal on Wednesday.Future RetailThe resolution professional of Future Retail has approached NCLT, seeking a further extension till September 15 to complete the corporate insolvency resolution process of the debt-ridden firm.Amara Raja BatteriesAmara Raja Batteries plans to expand into the two-wheeler electric vehicle market, first through chargers and then batteries, as part of an expansion to triple its lithium-ion business this financial year.LupinLupin said it has received approval from the US health regulator to market its generic Bromfenac Ophthalmic Solution used to treat post-operative inflammation in patients who have undergone cataract surgery.

promoter entities of Adani Power Ltd sold shares worth more than ₹8,710 crore (over $1 billion) to US-based investment firm GQG Partners, its co-investors, and others on Wednesday in block deals. Worldwide Emerging Market Holding Ltd and Afro Asia Trade and Investments Ltd, the two promoter entities, together sold 312 million shares translating to an 8.1% stake. Adani Power, the thermal power generation arm of the Adani Group, closed 2.3% lower at ₹279.30 on the BSE Wednesday.

Videos showing downed power lines apparently sparking some of the early blazes in the Maui wildfires have become key evidence in the search for a cause

MUMBAI : The promoters of Adani Group on Wednesday raised around ₹9,000 crore by selling 8.1% of their holding in the energy-generation arm Adani Power Ltd, marking billionaire Gautam Adani’s largest equity capital-raising through a share sale in a single entity. After amassing stakes worth at least ₹26,445 crore ($3.18 billion) in multiple Adani group firms through secondary market transactions since March, India-born Rajiv Jain-led investment management firm GQG Partners Llp bought an additional stake worth over $1.1 billion from the promoters of Adani Power.

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By Isla Binnie

Adani Power to pick up 8.1% stake in company, said PTI in its news report. GQG Partners bought 31 crore shares of Adani Power in the largest ever secondary market equity deal, they said, adding that promoter Adani family sold the stake for over ₹9,000 crore.

Videos showing downed power lines apparently sparking some of the early blazes in the Maui wildfires have become key evidence in the search for a cause

Taliban view their rule of Afghanistan as open-ended, drawing legitimacy from Islamic law and facing no significant threat, their chief spokesman said in an interview marking the second anniversary of the Taliban takeover of the country. He also suggested a ban on female education will remain in place.Zabihullah Mujahid brushed aside any questions from The Associated Press about restrictions on girls and women, saying he had nothing new to say on the matter while also indicating the status quo will remain. The ban on girls attending school beyond sixth grade was the first of what in the second year of Taliban control became a flurry of restrictions that now keep Afghan girls and women from classrooms, most jobs and much of public life.

CoinShares Chief Strategy Officer (CSO) Meltem Demirorsas believes crypto is gaining more and more power in Washington, becoming a political powerhouse.