Power Financial News

NEW DELHI : Three large bidders have entered the last lap for acquiring solar projects totalling 350 megawatts (MW) from O2 Power, promoted by Singapore’s Temasek and European alternative asset manager EQT, two people close to the development said. These include Gentari Sdn Bhd, a unit of Malaysia’s state-run oil and gas company Petroliam Nasional Bhd; Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy Ltd; and private equity firm Actis Llp, the people said on condition of anonymity. The transaction, having an equity and enterprise value of $50 million and $200 million, respectively, is being managed by EY, with these three bidders shortlisted from around a dozen non-binding offers (NBOs) that were submitted.

Kolkata Port, now known as Syama Prasad Mookerjee Port, has offered a 25 per cent waiver on reefer container electricity charges for perishable exports at Kolkata Dock System to attract exporters of eastern and northeastern region who use other ports to ship their cargo, an official said on Sunday. The discount on power for reefers, short for refrigerated containers, will help Kolkata Port to boost exports of perishables considerably from here, the official said. These refrigerated containers play a pivotal role in maintaining the freshness and quality of perishable goods during transportation. «We have the largest infrastructure for reefer container park in the eastern coast and our aim is to take capacity utilisation to 70 per cent in the near term from below 50 per cent now.

Narendra Modi is regarded as a great leader globally, Union minister Kiren Rijiju on Sunday asserted that developed nations' outlook towards India has changed significantly after the BJP-led government came to power in 2014. He was addressing a function here on the occasion of the launch of the PM Vishwakarma scheme, which envisages providing support to traditional artisans and craftspeople. «Earlier, leaders from India were not given importance during their visits to foreign countries.

Australia’s Davis Cup team have produced a bravura display to whitewash Switzerland in a must-win tie and roar into the finals of the men’s “World Cup of tennis”.

Kejriwal on Saturday said his party would implement the Panchayat (Extension to Scheduled Areas) Act in tribal-dominated areas of Chhattisgarh if voted to power in the upcoming assembly elections. Addressing a rally in the Bastar district headquarter Jagdalpur, around 300 km from here, Kejriwal slammed the BJP, saying celebrations were underway at the saffron party's headquarters in Delhi when the sad news of the martyrdom of Army officers in Anantnag trickled in. He also hit out at the BJP over the "India vs Bharat" debate and the 'one nation and one election' agenda. «We guarantee that if AAP is elected to power in Chhattisgarh, PESA will be implemented within a month of the formation of the government in the interest of tribals and to protect their 'jal, jungle, and zameen' (land).

Indian Railway's Darshan Express derailed near Amargarh railway station in Jhabua, Madhya Pradesh on Saturday. Only the engine and power coach of the train are reported to have been derailed.

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

global politics and diplomacy, there are moments that stand as beacons of hope and progress. The G20 New Delhi Leaders' Declaration of 2023 is one such landmark, with the historic commitment towards gender equality and empowerment of women and girls worldwide. Under India's presidency, G20 leaders agreed to set up a Working Group on the empowerment of women to support the G20 Women's Ministerial.

renewable energy (MNRE) R.K. Singh on Friday said that the United Arab Emirates (UAE) has also evinced interest in having grid connectivity with India. On 10 September, India and Saudi Arabia signed a Memorandum of Understanding on cooperation in the field of energy, which also included cooperation in grid connectivity.

Union Power Minister R K Singh on Friday said that India may add 25 GW to 30 GW thermal electricity generation capacity in addition to 50 GW already under works to meet the rising demand.

Alstom T&D India(up 5.00%), Jyoti Structures(up 4.96%), Suzlon Energy(up 4.09%), Orient Green Power Company(up 3.61%), Karma Energy(up 3.37%), Power & Instrumentation(Gujarat)(up 3.28%), Transformers and Rectifiers(India)(up 2.44%), ADANIGREEN(up 2.30%), RTNPOWER(up 2.21%) and Reliance Power(up 2.13%) stood among the top gainers. SJVN(down 2.59%), NLC India(down 2.08%), KEC International(down 2.06%), JSW Energy(down 2.04%), NHPC(down 1.97%), Energy Development Company(down 1.71%), Hitachi Energy India(down 1.33%), DPSC(down 1.19%), Gujarat Industries Power(down 1.00%) and Inox Wind Energy(down 0.94%) were among the top losers of the day. The NSE Nifty50 index ended 89.25 points up at 20192.35, while the 30-share BSE Sensex closed up 319.63 points at 67838.63. Bajaj Auto Ltd.(up 5.9%), Bharti Airtel Ltd.(up 2.31%), Mahindra & Mahindra Ltd.(up 2.24%), Hero MotoCorp Ltd.(up 2.21%), Grasim Industries Ltd.(up 2.13%), HCL Technologies Ltd.(up 1.63%), Tech Mahindra Ltd.(up 1.57%), Tata Motors Ltd.(up 1.54%), SBI Life Insurance Company Ltd.(up 1.47%) and Eicher Motors Ltd.(up 1.35%) stood among the top gainers in the Nifty pack. On the other hand, Bharat Petroleum Corporation Ltd.(down 1.81%), Asian Paints Ltd.(down 1.34%), Hindustan Unilever Ltd.(down 1.24%), Tata Consumer Products Ltd.(down 0.97%), Britannia Industries Ltd.(down 0.9%), Bajaj Finserv Ltd.(down 0.82%), NTPC Ltd.(down 0.73%), Oil And Natural Gas Corporation Ltd.(down 0.66%), IndusInd Bank Ltd.(down 0.56%) and Power Grid Corporation of India Ltd.(down 0.53%) closed in the red.

Also Read: Suzlon Energy, BSE, Godrej, Anupam Rasayan among top 20 smallcap stocks bought & sold by mutual funds in August Meanwhile, equity mutual funds saw a significant surge in net inflows, reaching a five-month high of ₹20,245.26 crore in August 2023. However, large-cap equity funds saw outflows of ₹348 crore. Adani Power, Zomato, Indian Railway Catering And Tourism Corporation (IRCTC) and Tata Power Company were among the largecap stocks that mutual funds bought the most in the month of August.

Tata Motors, Tata Consultancy Services (TCS), Titagarh Rail Systems and CG Power and Industrial Solutions, which might move their stocks on Friday. After the launch of new Tata Nexon EV Facelift, Nomura reiterated a buy on Tata Motors, while HSBC took a buy view on Titagarh Rail as railway stocks see top action. As for TCS and CG Power, buy rating was recommended by DAM Capital and Spark.We have collated a list of recommendations from top brokerage firms from ETNow:Nomura on Tata Motors: Buy | Target: Rs 786 Nomra has maintained a 'Buy' view on the counter while placing the target at Rs 786.

My nephew Noah had a classmate in seventh grade who mocked him for being short. One day he came up to Noah after lunch and crouched down, as if he were trying to make himself the same height. “Is this what you see down here?" he teased.

States and Native American tribes will have greater authority to block energy projects such as natural gas pipelines that could pollute rivers and streams under a final rule issued Thursday by the Biden administration

As the world celebrates Apple's new smartphone and smartwatch line-up, businessman Harsh Mariwala took a page out of late techpreneur Steve Jobs's book to emphasise on the importance of asking. The FMCG guru — who has created massive brands like Saffola and Parachute — took to X (formerly known as Twitter) to share that the Apple founder has left us with «timeless wisdom» that people sometimes forget to think about. Quoting a report by Inc Magazine, the Chairman of Marico said that Jobs once shared an invaluable lesson in a classic 1994 interview. «Most people never pick up the phone and call.

Energy Development Company(up 10.54%), Transformers and Rectifiers(India)(up 8.37%), NHPC(up 7.71%), Gujarat Industries Power(up 7.33%), Suzlon Energy(up 4.97%), Power & Instrumentation(Gujarat)(up 4.85%), Jyoti Structures(up 4.76%), RTNPOWER(up 4.62%), Alstom T&D India(up 4.04%) and KPI Green Energy(up 3.81%) stood among the top gainers. Karma Energy(down 2.38%), KEC International(down 1.32%), Reliance Power(down 1.32%), Inox wind(down 1.26%), Orient Green Power Company(down 0.36%) and ADANIGREEN(down 0.20%) were among the top losers of the day. The NSE Nifty50 index ended 33.1 points up at 20103.1, while the 30-share BSE Sensex closed up 52.01 points at 67519.0. UPL Ltd.(up 3.85%), Hindalco Industries Ltd.(up 2.92%), Oil And Natural Gas Corporation Ltd.(up 2.17%), Mahindra & Mahindra Ltd.(up 1.89%), Eicher Motors Ltd.(up 1.84%), Divi's Laboratories Ltd.(up 1.78%), Tata Steel Ltd.(up 1.65%), Tech Mahindra Ltd.(up 1.54%), Apollo Hospitals Enterprise Ltd.(up 1.46%) and Nestle India Ltd.(up 1.34%) stood among the top gainers in the Nifty pack. On the other hand, Asian Paints Ltd.(down 1.14%), ITC Ltd.(down 0.78%), Coal India Ltd.(down 0.75%), LTIMindtree Ltd.(down 0.73%), HDFC Life Insurance Company Ltd.(down 0.73%), Britannia Industries Ltd.(down 0.73%), Tata Consumer Products Ltd.(down 0.53%), Sun Pharmaceutical Industries Ltd.(down 0.43%), Hindustan Unilever Ltd.(down 0.22%) and Tata Consultancy Services Ltd.(down 0.21%) closed in the red.

Adani Power Ltd. traded 0.7 per cent up in Thursday's trade at 11:11AM (IST).

The Committee of Creditors for IL&FS Tamil Nadu Power Company (ITPCL), a consortium of 17 banks led by Punjab National Bank, have turned down a proposal from the National Asset Reconstruction Co (NARCL) to acquire the debt of ₹9,000 crore and is moving ahead with a debt restructuring plan. During a meeting held last week, the lenders' committee rejected the government-backed bad bank's offer, a source said. Lenders felt that NARCL's offer of ₹4,700 crore in a 15:85 structure was below their recovery expectations through the debt restructuring process. Under 15:85, 15% of the amount is paid upfront while the remaining is paid by way of security receipts. «Lenders have rejected NARCL's offer as the company has cash of around ₹3,000 crore which will improve their recovery in case of restructuring,» a source said.

Japanese Prime Minister Fumio Kishida has shuffled his Cabinet and key party posts to strengthen his position before a key party leadership vote next year, bringing in a new defense minister and the country’s first female foreign minister since 2002

A company seeking to restart a southwestern Michigan nuclear power plant says it has taken a major step forward with the signing of a power purchase agreement