Power Financial News

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Power Finance Corporation (PFC) on Monday signed a pact to provide Rs 1,229 crore term loan to Assam Petrochemicals to implement a 500 tonnes per day methanol plant at Namrup and 200 tonnes per day formalin plant at Boitamari in Assam. «PFC and Assam Petrochemicals Ltd (APL) signed a loan agreement on September 4, 2023, for extending a term loan of Rs 1,229 crore for the implementation of 500 Tons Per Day (TPD) Methanol Plant, including their 11 MW Captive Power Plant (CPP) at Namrup and 200 TPD Formalin Plant, including their Captive 0.90 MW power plant at Boitamari in Assam at an estimated Project Cost of Rs 1,827 Crore,» a PFC statement said. The 500 TPD Methanol Plant, including 11 MW CPP, was inaugurated by the Prime Minister on April 14, 2023, on completion. The project, including the 200 TPD Formalin Plant, is scheduled to commence commercial operation by March 31, 2024.

Energy Development Company(up 19.83%), PTC India(up 7.31%), Torrent Power(up 6.06%), Jaiprakash Power Ventures(up 5.49%), CESC(up 5.44%), NLC India(up 4.27%), Transformers and Rectifiers(India)(up 3.80%), Kalpataru Projects International(up 3.76%), Adani Power(up 3.48%) and DPSC(up 3.04%) stood among the top gainers. RTNPOWER(down 5.00%), Suzlon Energy(down 3.60%), Karma Energy(down 3.00%), Inox Wind Energy(down 1.99%), Voltamp Transformers(down 1.65%), Adani Energy Solutions(down 0.88%), Orient Green Power Company(down 0.36%) and Inox wind(down 0.15%) were among the top losers of the day. The NSE Nifty50 index ended 93.5 points up at 19528.8, while the 30-share BSE Sensex closed up 240.98 points at 65628.14. Coal India Ltd.(up 4.6%), Wipro Ltd.(up 4.26%), HCL Technologies Ltd.(up 3.93%), UltraTech Cement Ltd.(up 3.87%), Tata Steel Ltd.(up 3.69%), Hindalco Industries Ltd.(up 2.83%), Tech Mahindra Ltd.(up 2.33%), NTPC Ltd.(up 2.21%), Grasim Industries Ltd.(up 1.63%) and Infosys Ltd.(up 1.47%) stood among the top gainers in the Nifty pack. On the other hand, Mahindra & Mahindra Ltd.(down 0.97%), Axis Bank Ltd.(down 0.89%), ITC Ltd.(down 0.8%), Nestle India Ltd.(down 0.8%), Asian Paints Ltd.(down 0.73%), Bajaj Finance Ltd.(down 0.68%), Bajaj Auto Ltd.(down 0.67%), Titan Company Ltd.(down 0.52%), Cipla Ltd.(down 0.52%) and Kotak Mahindra Bank Ltd.(down 0.5%) closed in the red.

NSW Premier Chris Minns has rubbished claims it would cost taxpayers $3 billion to keep the giant Eraring coal-fired power station running for two years beyond its current used-by date to fill supply gaps as the state transitions to more renewable energy.

Tata Power Company with a target price of Rs 266. The current market price of Tata Power Company is Rs 256.75.

RailTel Corporation of India, India Pesticides and RattanIndia Power. BSE uses a circuit filter mechanism to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.

use of coal to generate electricity as an increase in renewables is struggling to keep pace with record power demand, according to Reuters reports. India's electricity demand typically peaks in May when people crank up air-conditioners to beat the heat. It is unusual for India's electricity use to spike in August when temperatures are lower due to the annual monsoon.

Typhoon Haikui made landfall in Taiwan on Sunday, reported CNN. According to Taiwan's Central News Agency (CNA), the two people who were injured as a result of the Typhoon were travelling in a van, when a tree fell on the vehicle. They suffered injuries but were conscious and taken to hospital, it added. The storm made landfall in the southern coastal township of Donghe at about 3:40 p.m. local time, according to the weather bureau. According to Taipower, the state electricity provider, more than 9,300 households in Taitung and Hualien counties have lost power as of 2 p.m. local time on Sunday, reported CNN. Repairs are now underway. Taipei, Taiwan's capital, is currently receiving heavy rainfall.

NEW DELHI : The union ministry of power is likely to ask for a cut in the goods and services tax on components used in hydropower projects. The ministry may seek a cut in components like turbines, steel and cement which are in the higher slabs, two people aware of the matter said. The suggestions were discussed in a recent meeting at the ministry and may be taken up with the finance ministry, they said.

Congress leader Shashi Tharoor on Sunday said it is unfortunate to «paint fantasies» about a distant future when the country is going through a «tough time» and asserted that it is «too early to speak about super power because too many of our people are still super poor». The remarks by Tharoor came after Prime Minister Narendra Modi, in an interview with PTI, said, «By 2047, I am sure that our country will be among the developed countries.

Congress leader Rahul Gandhi over his visit to poll-bound Chhattisgarh, BJP MLA Ajay Chandrakar on Saturday claimed public money was spent to organise a «political event». During his visit to the Congress-ruled state, Rahul is scheduled to address a public meeting and interact with the youth. Speaking to on Saturday, the BJP MLA said, «Rahul Gandhi will hold a political event to which eminent journalists from across the country have been invited at government expense. Not just this, government officials from various departments were also involved in his programme at public expense.

Pratapgarh district in Rajasthan. Speaking to ANI, Diya Kumari launched an attack on the state government led by Chief Minister Ashok Gehlot. She said that they have no right to be in power. «They have no right to be in power. A few days are left. The people of Rajasthan will show them the right direction», the BJP MP said. «When the video went viral, then the administration went active and arrested some of the accused.

AI is taking the world by storm, a manufacturing revolution is taking place in India, banking on the opportunity of “China-Plus-One” to become the factory of the world. Buoyed by Tim Cook’s visit and the decision of “Friend-shoring” by Apple to Make in India, India seems poised to “Make in India for the World”, paving the way for India to outgrow other economies of the world in this decade. If India is to realise the vision of becoming the factory of the world, it cannot be done by adopting conventional manufacturing techniques that involve loading the shop floors with cheap labour and strenuous work.

New Delhi: Coal India on Friday reported a 13.2% rise in its coal production last month at 52.3 million tonne (MT) of coal in August on a year-on-year basis. In August 2022, the public sector major produced 46.2 MT. So far in the current financial year (FY24), Coal India has produced 281.5 MT of the mineral, registering a 11% growth compared to the same period last fiscal, said a company statement.

₹2,247.37 crore for the supply of smart meters. Genus Power share price opened at ₹271.60 apiece on BSE.

Gujarat Industries Power(up 7.80%), Tata Power Company(up 3.33%), Suzlon Energy(up 3.26%), GE Power India Limited(up 2.88%), NTPC(up 2.34%), SJVN(up 2.23%), CESC(up 2.04%), Inox wind(up 1.94%), Jaiprakash Power Ventures(up 1.88%) and Power Grid Corporation of India(up 1.84%) were among the top gainers. Alstom T&D India(down 3.34%), KPI Green Energy(down 2.65%), Energy Development Company(down 1.69%), Voltamp Transformers(down 1.13%), Karma Energy(down 0.66%), ADANIGREEN(down 0.66%), Kalpataru Projects International(down 0.60%), Adani Power(down 0.30%) and KEC International(down 0.12%) were among the top losers. The NSE Nifty50 index was trading 86.65 points up at 19340.45, while the 30-share BSE Sensex was up 222.98 points at 65054.39 at around 11:20AM. Oil And Natural Gas Corporation Ltd.(up 5.16%), Tata Steel Ltd.(up 3.66%), Coal India Ltd.(up 2.78%), Hindalco Industries Ltd.(up 2.69%), SBI Life Insurance Company Ltd.(up 2.42%), NTPC Ltd.(up 2.31%), JSW Steel Ltd.(up 2.26%), Maruti Suzuki India Ltd.(up 1.94%), Power Grid Corporation of India Ltd.(up 1.9%) and Bajaj Auto Ltd.(up 1.72%) were among the top gainers in the Nifty pack. On the other hand, Asian Paints Ltd.(down 0.92%), Britannia Industries Ltd.(down 0.61%), Cipla Ltd.(down 0.5%), Divi's Laboratories Ltd.(down 0.43%), Dr.

Adani Power shares opened lower and went on to make intraday low of ₹312.25 apiece on NSE, logging over one per cent dip against its Thursday price. Similarly, Adani Enterprises shares are also swinging in gain and loss while Adani Green Energy, Adani Ports, Adani Total Gas, Adani Transmission, Adani Wilmar, etc.

(Reuters) — Over 300,000 homes and businesses were still without power along the U.S. East Coast from Florida to North Carolina after hurricane Idalia battered the region overnight, according to data from power outage tracker PowerOutage.us.

Batteries in older Nissan Leaf electric vehicles are getting a new life as portable power sources that can be used to run gadgets on the go or deliver emergency power in disasters

Karma Energy(up 5.00%), RTNPOWER(up 4.62%), Alstom T&D India(up 4.14%), Voltamp Transformers(up 3.02%), Kalpataru Projects International(up 2.91%), KEC International(up 1.63%), GE Power India Limited(up 1.46%), NLC India(up 1.36%), DPSC(up 1.08%) and PTC India(up 0.83%) stood among the top gainers. Reliance Power(down 5.20%), Suzlon Energy(down 5.03%), ADANIGREEN(down 4.31%), Adani Energy Solutions(down 3.53%), Inox wind(down 3.27%), Transformers and Rectifiers(India)(down 2.78%), Adani Power(down 2.16%), Jaiprakash Power Ventures(down 1.84%), JSW Energy(down 1.64%) and NHPC(down 1.47%) were among the top losers of the day. The NSE Nifty50 index ended 93.65 points down at 19253.8, while the 30-share BSE Sensex closed down 255.84 points at 64831.41. Maruti Suzuki India Ltd.(up 2.11%), Cipla Ltd.(up 1.73%), HDFC Life Insurance Company Ltd.(up 1.2%), Titan Company Ltd.(up 0.72%), Hindalco Industries Ltd.(up 0.67%), Tata Steel Ltd.(up 0.65%), Coal India Ltd.(up 0.56%), Tech Mahindra Ltd.(up 0.39%), LTIMindtree Ltd.(up 0.38%) and UltraTech Cement Ltd.(up 0.38%) stood among the top gainers in the Nifty pack. On the other hand, Adani Enterprises Ltd.(down 3.73%), Bharat Petroleum Corporation Ltd.(down 3.23%), Adani Ports & Special Economic Zone Ltd.(down 3.23%), Eicher Motors Ltd.(down 2.03%), Britannia Industries Ltd.(down 1.82%), Tata Consumer Products Ltd.(down 1.65%), UPL Ltd.(down 1.45%), Bajaj Finance Ltd.(down 1.44%), Bajaj Auto Ltd.(down 1.3%) and Apollo Hospitals Enterprise Ltd.(down 1.23%) closed in the red.