As of 9:30 AM, Power Grid shares were trading 0.59 per cent lower at ₹287.45, while CESC fell 0.64 per cent to ₹169.95. By comparison, the BSE Sensex was down 0.29 per cent at 82,260.52 levels.
According to analysts, CESC's bull-case target of ₹200 assumes timely recovery of regulatory assets (RA) by FY30E, 3.2GW of RE at ~17 per cent RoE, and the new solar manufacturing venture.
On the bourses, CESC share price rose as much as 1.16 per cent to an intraday high of ₹156.15 per share.
The deal is for supply of power for contracted capacity of 25 Megawatt for a period of three years from April 1, 2025 to March 31, 2028, CESC said.
Here's a technical outlook on key power stocks - NTPC, Tata Power, NHPC, CESC and JSW Energy - as India braces for a hot summer. Track these key support and resistance levels to trade in power shares.
Retail investors most bullish in last 7 months, with long-short ratio in index futures at 5:2. On the other hand, FIIs hold 5 bearish bets in index futures for ever long trade; shows NSE F&O data.
Power generation and distribution company CESC Ltd on Friday reported 6.3 per cent dip in consolidated net profit at Rs 282 crore for December quarter FY25. The company had logged a net profit of Rs 301 crore in the quarter ended December 31, 2023. Net regulatory income fell to Rs 300 crore in the quarter from Rs 560 crore in the year-ago period. Total expenses rose to Rs 3,595 crore from Rs 3,497 crore. Total income also rose to Rs 3,657 crore in the quarter from Rs 3,301 crore a year ago. The board has declared an interim dividend of Rs 4.50 per equity share for the fiscal. The record date for eligible shareholders to receive the interim dividend is January 16, 2025.
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 arm Purvah Green Power incorporates Redgaint Renewable Power Energy to explore opportunities in renewable power sector
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.
Shares of CESC soared up to 4.55 per cent at Rs 176.65 per share on the BSE in Monday's intraday trade
Across Asia, markets mirrored the losses seen in Wall Street, with Japan's Nikkei leading the decline with a drop of 1.22 per cent, followed by Korea's Kospi down nearly 1 per cent
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Biz outlook and value unlocking to help drive stock price
Demerger of the company's four businesses will lead to further re-rating