Cesc

CESC stock climbs 5% on plans to acquire electricity distribution co

Power utility firm CESC shares surged up to 5.17 per cent at Rs 182 a on the BSE in Monday's intraday deals

CESC Q2FY25 results: Net profit grows 3% to Rs 373 cr on higher income

Power utility firm CESC Ltd on Tuesday reported a nearly 3 per cent rise in consolidated net profit to Rs 373 crore in the September 2024 quarter, aided by higher income. It posted a profit of Rs 363 crore during the three months ended September 2024, the company said in a regulatory filing. The company's total income rose to Rs 4,770 crore from Rs 4,414 crore in the year-ago period. Expenses stood at Rs 4,427 crore against Rs 4,314 crore a year ago.

CESC soars 3% on incorporating new subsidiary in renewable power sector

CESC stock price surged up to 3.2 per cent at Rs 200.60 per share on the BSE in Monday's intraday trade

Here's why CESC stock price jumped over 3% on August 21; details here

The shares of CESC rose after the company announced that its subsidiary, Purvah Green Power Private Limited has incorporated a Wholly Owned Subsidiary (WOS) company, Ecofusion Power Private Limited.

CESC Q1 results: Firm posts 9% rise in profit on summer, industrial demand

India experienced a sharp rise in power demand amid sturdy manufacturing activity and scorching weather in a summer that stretched beyond the March-May period into June

Power company CESC acquires 64% stake in Purvah Green Power for Rs 205 cr

Power company CESC Ltd on Monday said it has acquired 63.91 per cent equity shares in Purvah Green Power for Rs 205 crore. Post-acquisition, Purvah Green Power Private Limited (Purvah) will become its direct subsidiary, CESC said in a regulatory filing. "The company (CESC) has acquired today 63.91 per cent equity shares of Purvah Green Power Private Limited ("Purvah"), a wholly-owned subsidiary of Crescent Power Limited (a subsidiary of the company), thus making Purvah a direct subsidiary of CESC Ltd," it added. The cost of acquisition would be Rs 205 crore, the company said. "63.91 per cent of Purvah's shares were acquired by the company by subscribing to 20,50,00,000 equity shares of Rs 10 each for an aggregate consideration amounting to Rs 2,05,00,00,000," the filing said. CESC is into the generation, transmission, and distribution of electrical power.

CESC acquires co building 300 MW solar park in Rajasthan for Rs 3.84 cr

CESC Ltd on Friday said one of its step-down subsidiaries has completed the acquisition of a company that is in the process of implementing a 300-MW solar park in Rajasthan. The acquisition aims at bolstering the renewable energy portfolio of the power utility. In a regulatory filing, CESC said Purvah Green Power has completed the acquisition of the 100 per cent stake in Bhadla Three SKP Green Ventures at a consideration of Rs 3.84 crore. The power utility said that the acquired company is developing a solar park with a capacity of 300 MW in Phalodi district of Rajasthan, and its operations are entirely based in India. "The target company has not yet generated any revenue, as its project is still under development. However, it has obtained the necessary approval from the central transmission unit for interstate evacuation of solar power with a capacity of 300 MW and has partially acquired land," CESC said in the filing. The power utility did not provide details regarding the ...

Nifty SmallCap up 16% in 1 month; key levels to watch on overbought stocks

Apar Industries, CESC, Glenmark, Jubilant Pharma and Power India are trading in overbought zone; charts suggest bias to remain positive as long as these support levels hold.

CESC Q3 net profit falls 10% to Rs 301 crore due to higher expenses

Power utility CESC Ltd's consolidated net profit dipped over 10 per cent to Rs 301 crore in the December quarter, mainly due to higher expenses. Its consolidated net profit was Rs 336 crore in the quarter ended December 2022, a BSE filing showed. The total expenses rose to Rs 3,497 crore in the quarter under review from Rs 3,141 crore in the year-ago period. The company's total income rose to Rs 3,301 crore in the quarter against Rs 3,224 crore a year ago. The Board has declared an interim dividend of Rs 4.50 per equity share (i.e., 450 per cent) on the paid-up equity share capital of the company. The record date to ascertain the eligibility of members to receive the said interim dividend is February 1, 2024. The Board, in its meeting on Friday, also approved the appointment of Arjun Kumar as a non-executive director in the category of an Independent Director of the company for a term of five years with effect from January 19, 2024. Kumar is not related to any Director of the co

CESC gets board's approval to raise Rs 100 crore from Axis Bank via NCDs

Power utility CESC Ltd on Friday said it received board's approval for raising Rs 100 crore from Axis Bank through issue of non-convertible debentures on private placement basis. The committee of the board of directors at its meeting approved the allotment of 10,000 secured, unlisted, redeemable, rated non-convertible debentures having a face value of Rs 1,00,000 each aggregating to Rs 100 crore on a private placement basis to Axis Bank Limited, CESC said in a regulatory filing.

Power utility firm CESC approves proposal to raise Rs 300 cr through NCDs

Power utility firm CESC Ltd board has approved the issuance of 30,000 non-convertible debentures on a private placement basis to raise Rs 300 crore. Under the first issuance, 20,000 NCDs having a face value of Rs 1,00,000 each, for cash, at par aggregating to Rs 200 crore, will be issued on a private placement basis. In the second tranche, 10,000 NCDs having a face value of Rs 1,00,000 each, for cash, at par aggregating to Rs 100 crore, will be issued on a private placement basis. The committee of the Board, at its meeting held today (Wednesday), has approved the issue of the following secured, unlisted, redeemable, rated, non-convertible debentures (NCDs) on a private placement basis, a BSE filing stated.

CESC net profit rises to Rs 363 crore in Sep qtr on higher revenues

CESC Ltd on Wednesday posted a nearly 14 per cent rise in its consolidated net profit to Rs 363 crore in the September quarter, mainly on the back of higher revenues. The consolidated net profit of the company was Rs 319 crore in the quarter ended September last year, according to a regulatory filing. Total income of the company rose to Rs 4,414 crore in the quarter from Rs 3,977 crore in the same period a year ago. The company's board of directors has also considered exploring the possibilities of substantial investments in renewable energy generation space (up to 3 gigawatt) through its subsidiaries in more than one state in India to increase the company's renewable footprint and partially meet the renewables purchase obligations of its distribution business, the filing said.

CESC reports more than 21% rise in Q1 profit on strong power demand

Revenue from operations rose 5.07% at Rs 4310 crore, while total expenses rose 6.61% to Rs 4194 crore

CESC reports collecting 82% of electricity bills through digital payment

CESC Ltd, RP Sanjiv Goenka's flagship company, on Tuesday said it has seen a tremendous increase in digital payments, with 82 per cent of its total revenue from electricity bill collection coming from online mode. The company provides a discount of one per cent for digital payment. "Thanks to a wide variety of user-friendly online payment options, 74.5 per cent of (total 3.5 million) consumers made online payments in 2022-23, which constituted almost 82 per cent of total revenues," its chairman Sanjiv Goenka said in a message to investors. CESC provided over 1,06,101 new connections in 2022-23. West Bengal Power Minister Aroop Biswas had slammed the power during the recent heat waves for a series of power disruptions under its command area. Distribution of electricity, with its own generation facilities, across its licensed area is in Kolkata, Howrah, Hooghly, North and South 24 Parganas districts. With a return to normalcy in 2022-23, your company's system demand grew at 8.7 per

CESC consolidated net profit remains flat at Rs 445 cr in March quarter

Power utility CESC Ltd on Monday posted a flat consolidated net profit of Rs 445 crore during the quarter ended March 31, 2023. Its profit in January-March 2022 was at Rs 445 crore, the company said in a BSE filing. The company's total income was at Rs 3,208 crore in the quarter, higher than Rs 3,092 crore in the year-ago quarter. Expenses were at Rs 3,099 crore, higher from Rs 2,836 crore a year ago. The Board of Directors of the company approved the reappointment of Debasish Banerjee for another year with effect from May 28, 2023. The said re-appointment is subject to the approval of shareholders at the ensuing Annual General Meeting of the company. The present tenure of Banerjee as Managing Director (Distribution) of the company will expire at the close of business hours on May 27, 2023. Kolkata-based CESC Ltd belongs to RP-Sanjiv Goenka Group and is a vertically integrated power utility engaged in generation, transmission and distribution of electricity.

Amp Energy wins CESC's 150 MW 'Wind-Solar Hybrid' auction at Rs 3.07/unit

The company said, the contracted capacity of the project will be 150MW and would require a 250 MW of wind and solar capacity installation

Rebound in power demand to fire up related stks over medium-term: Analysts

On the bourses, shares of Adani Power, Adani Transmission, CG Power, NHPC, NTPC, and Adani Green Energy have surged up to 61 per cent so far in FY23, ACE Equity data shows

Power ministry earmarks 81 thermal units to move coal to renewable by 2026

The list includes generation units of state-owned NTPC, and privately owned units of Tata Power, Adani Power, CESC, Hindustan Power

Power utility CESC receives rare honour from IEEE, third for India

Power utility CESC Ltd on Saturday received a rare honor--IEEE Milestone which is only the third for an Indian contribution after Jagadish Chandra Bose and Nobel Laureate C V Raman, the company said.

CESC registers new high post 1:10 stock split, surges 10%

Shares of the electric utilities company traded with heavy volume, as it surpassed its previous all-time high registered almost 3 years ago.