Power Financial News

₹4,527.68-crore loan to set up a 1,320-MW project at Raghunathpur in West Bengal. "Power Finance Corporation (PFC) and Damodar Valley Corporation (DVC) have successfully executed a loan agreement amounting to ₹4,527.68 crore.

Great Lakes area were slammed with tornadoes as fast as 75 mph on the night of Thursday, August 24, 2023. The effect of the tornadoes was such that over 700,000 people went without power. The area has been facing stormy weather since Wednesday, August 23. As the storm moved into the Northeast on Friday, August 25, there was already destruction and a power outage in the Great Lakes. Over 700,000 citizens had to go without power in the states of Michigan, Ohio, and Pennsylvania. Cleveland also reported a gust of 75 mph, and Detroit registered one of 70 mph.

Q:At Adobe’s Best of SUMMIT event, we discussed how ‘Experience Led Growth’ is foundational to the success of every business. How does digital transformation fit into your company's growth agenda? Khatri: FNP was one of the early adopters of digital. We were one of the first businesses to get an online presence back in 2004 and were way ahead of our competition in the adoption of digital technologies and an ‘App first’ approach.

Devendra Fadnavis met with the officials of one of the largest power generation companies 'JERA', which has invested in the Indian renewables power production space in 2016, and welcomed the company to once again invest in Maharashtra. Fadnavis met JERA's Senior Management officials Yuichiro Kato, Executive Officer, Head of the Low Carbon Fuel Value Chain Division, Toshihiro Oki, Executive Officer, Head of Renewable Energy Business Group and Tsuyoshi Oyama — General Manager, Head of Hydrogen and Ammonia Upstream Business Unit. The officials briefed Fadnavis about JERA business in Japan and globally. «JERA was created through the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company and the Chubu Electric Power Company. They have total assets of JPY 8.7 trillion / USD 60 bn.

Tata Power Company Ltd. traded 1.1 per cent down in Friday's trade at 10:56AM (IST).

A California judge is rejecting an environmental group’s lawsuit that sought to block the state's largest utility from seeking to extend the operating life of the Diablo Canyon Nuclear Power Plant

Reliance Infrastructure and Reliance Power, are between them raising ₹1,043 crore from Reliance Commercial Finance, a wholly owned subsidiary of Authum Investment & Infrastructure, by allotting preferential shares. Last October, Reliance Commercial Finance, an erstwhile Anil Ambani company, was acquired by Authum in an out-of-court debt resolution process. Reliance Commercial has proposed to invest ₹891 crore in Reliance Infrastructure and ₹152 crore in Reliance Power, according to stock exchange disclosures. After this transaction, Reliance Commercial will hold 11% equity in Reliance Infrastructure and 2% in Reliance Power. Reliance Commercial Finance is a subsidiary of Reliance Home Finance, which in turn is a subsidiary of Reliance Capital, an Anil Ambani company that is undergoing corporate insolvency. Prior to 2020, Reliance Infrastructure and Reliance Power had provided a guarantee on the loans availed of by Reliance Commercial Finance and Reliance Home Finance. Authum, as the new owner of Reliance Commercial, invoked these guarantees.

Mother Nature is playing a double game with the natural gas market. The question is, which one will win?

Reliance Industries and HDFC Bank, ahead of the release of Reserve Bank of India (RBI) minutes of the Monetary Policy Committee (MPC) meeting today as well as annual central bank summit in Jackson Hole, Wyoming, on Friday. Officials of the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan are meeting in Jackson Hole, Wyoming, for their yearly conference on central banking. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the positive territory.

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Adani Power(up 4.54%), Transformers and Rectifiers(India)(up 3.96%), Indo Tech Transformers(up 3.71%), RTNPOWER(up 3.64%), Suzlon Energy(up 3.43%), Adani Energy Solutions(up 3.14%), Alstom T&D India(up 2.53%), ADANIGREEN(up 2.11%), GE Power India Limited(up 1.91%) and NHPC(up 1.68%) were among the top gainers. Karma Energy(down 2.12%), Jaiprakash Power Ventures(down 1.31%), Hitachi Energy India(down 0.75%), NLC India(down 0.45%), Indowind Energy(down 0.38%), JSW Energy(down 0.38%), Orient Green Power Company(down 0.34%), Energy Development Company(down 0.31%) and CESC(down 0.18%) were among the top losers. The NSE Nifty50 index was trading 114.45 points up at 19558.45, while the 30-share BSE Sensex was up 362.46 points at 65795.76 at around 10:09AM. Adani Enterprises(up 2.35%), Adani Ports & Special Economic Zone(up 1.94%), UltraTech Cement(up 1.83%), IndusInd Bank(up 1.68%), Larsen & Toubro(up 1.48%), ICICI Bank(up 1.33%), Bajaj Finserv(up 1.23%), Axis Bank(up 1.18%), TATA CONSUMER PRODUCTS(up 1.14%) and Bajaj Auto(up 1.02%) were among the top gainers in the Nifty pack. On the other hand, Hindalco Industries(down 0.14%), Eicher Motors(down 0.12%) and Divis Laboratories(down 0.07%) were trading in the red.

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says “if somebody is taking a long-term view, power is a utility, it is an annuity business and the way they are pivoting towards green energy does augur well. Of course, there is a possibility of spin-off and corporate restructuring whereby value can be unlocked in NTPC. That is the reason why it has been on my list for a long time.”Fundamentally, what is the logic in buying power stocks?I find a strong logic in buying an NTPC or a Tata Power.

Tata Power has rallied over 10% in a month and is inching closer to hitting fresh 52-week highs. Short-term traders can look to accumulate the stock for a possible target of Rs 280 in 2-4 months, suggested experts.The stock ended its 13-years of correction price action in 2021, when it broke above Rs 160 levels.

Barclays initiated coverage of 26 stocks within the U.S. Power & Utilities sector in a note Wednesday, taking a Neutral industry view.

New Delhi: The power ministry has directed imported coal-based power plants to operate at full capacity till 31 October, due to rising power demand. This directive was issued in February of this year, with an initial deadline of 15 June, which was later extended until September. This extension comes against the backdrop of the peak power demand in the country hitting fresh record highs this month.

₹138 crore from Bharat Coking Coal Limited (BCCL) to set up a 20MW AC ground-mounted solar photovoltaic power plant at Dugdha washery area, Dhanbad, Jharkhand. The EPC (engineering, procurement, and construction) phase of this project is slated for completion within 12 months.

NEW DELHI –The power ministry has directed imported coal-based power units to run at full capacity further till October in the backdrop of electricity demand smashing records in August. The ministry had in February directed the imported coal-based plants to run optimally till June 15 starting March 16, under section 11 of the Electricity Act in anticipation of higher demand in summer. It was then extended till September end. However, electricity demand met in India reached record highs this month touching 234 GW on August 17.

New Delhi: It is not true that India is not reducing coal-based power generation capacity in the energy mix, a senor government official said, adding that the country is targeting over 64 per cent of non-fossil fuel-based capacity by 2030. India has set the target of having 500GW of renewable energy by 2030.

Hitachi Energy India(up 7.67%), CESC(up 7.01%), RTNPOWER(up 7.00%), Indo Tech Transformers(up 4.99%), Suzlon Energy(up 4.80%), Karma Energy(up 4.10%), Jaiprakash Power Ventures(up 3.38%), Gujarat Industries Power(up 3.11%), Voltamp Transformers(up 2.69%) and Alstom T&D India(up 2.09%) were among the top gainers. Adani Transmissions(down 2.14%), SJVN(down 1.35%), KPI Green Energy(down 1.31%), KEC International(down 1.18%), ADANIGREEN(down 1.17%), Torrent Power(down 0.82%), Orient Green Power Company(down 0.34%), NTPC(down 0.11%) and Power Grid Corporation of India(down 0.04%) were among the top losers. The NSE Nifty50 index was trading 10.75 points up at 19407.2, while the 30-share BSE Sensex was up 20.81 points at 65240.84 at around 11:15AM. Hindalco Industries(up 3.16%), Divis Laboratories(up 1.9%), Tata Steel(up 1.19%), Apollo Hospitals Enterprises(up 1.09%), Larsen & Toubro(up 1.08%), Axis Bank(up 1.04%), Cipla(up 0.98%), LTIMindtree Ltd(up 0.96%), Eicher Motors(up 0.92%) and State Bank of India(up 0.52%) were among the top gainers in the Nifty pack. On the other hand, Adani Enterprises(down 1.15%), ITC(down 1.01%), Adani Ports & Special Economic Zone(down 0.97%), Sun Pharmaceutical Industries(down 0.87%), Tata Motors(down 0.81%), Bharti Airtel(down 0.79%), Mahindra & Mahindra(down 0.77%), Tech Mahindra(down 0.68%), HDFC LIFE INSURANCE(down 0.59%) and TATA CONSUMER PRODUCTS(down 0.55%) were trading in the red.

Power stocks were among the top gainers on Tuesday, riding the bullish momentum in the past month, as investors bet that the government's increased thrust on manufacturing would boost the demand for energy. The BSE Power Index, which gained 10% in the last month, rose 1.5% on Tuesday.Analysts believe the favourable government policies for the sector, continued peak power deficits and the country's shift towards clean energy will drive the re-rating of power stocks.

Travelers taking off and landing at Dulles International Airport outside the nation’s capital will soon see an array of 200,000 solar panels that comprise the largest renewable energy project ever built at a U.S. airport