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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.

Vaishali Parekh picks two stocks that are showing trend reversal on charts

The stock of BSE has witnessed a decent correction from 1,400 level and has bottomed out at 1,070, near the significant 50EMA level of 1,065, and is showing signs of reversal

Two stock ideas by Vaishali Parekh: Buy CESC, Cadila Healthcare

Cadila Healthcare's stock has taken base near Rs 600 levels on two occasions recently, forming a good support zone

CESC surges 6%, hits 52-week high post Q4 results, stock split approval

The company intends to improve the liquidity of its shares in the stock market by reducing the nominal value of the shares through the process of subdivision

Stocks to watch: Power Grid, SBI, Tata Steel, CESC, Federal Bank, Wipro

SBI Board is slated to meet on June 21 to consider a fundraising plan for FY22

CESC consolidated net profit rises 25% to Rs 328 crore in December quarter

Power utility CESC Ltd on Wednesday reported a 25-per cent on-year rise in consolidated net profit to Rs 328 crore for the December quarter.

Reliance Infrastructure removes KPMG from BSES stake sale process

KPMG's exit from the mandate means the entire process will now start afresh, led by RInfra itself

Cyclone Amphan ravages West Bengal; PM Narendra Modi to visit today

State readies initial fund of Rs 1,000 crore for relief and restoration work

Tata group, Adani, CESC may join the race to buy BSES companies

Clouding the valuation will be dues to generation firms and a possible CAG audit

CESC drops plan to demerge power generation and distribution business

Shashwat Goenka inducted to the board of CESC as its vice-chairman and additional director, subject to the necessary approvals

CESC trades ex-date for demerger; stock gain 5%

CESC transferred the retail undertaking business into RP- SG Retail and of the IT undertaking into RP- SG Business Process Services.

CESC: Analysts see benefits even in part demerger, stock price recovers

Though split of power segment is still awaited, separate listing of retail and other businesses will help unlock value

Delay in tariff increase, higher coal prices keep CESC muted in Q1

On account of lower own generation, its cost of electricity purchase increased 7.72 per cent to touch Rs. 8.37 billion

CESC touches all-time high on BSE on clarity over the demerger date

The CESC scrip touched its all-time high on the BSE on Monday closing at Rs. 1020.15 apiece, up by 6.65 per cent than the last closing. On August 29, last year, the company's shares were valued at Rs. 649.90, which is 57 per cent lower than its current valuation.Analysts opined that the rise is primarily on account of the clarity over the demerger date which is expected to be October 1 with the company expected to complete the due diligence process by the end of September."As a result of the demerger, the value which will be unlocked will be very high. The shareholders previously were unsure on the date on which it'll happen. Now, since there is some clarity and October 1 is the expected date of demerger, its shareholders are reacting positively", Rupesh Sankhe, research analyst with Reliance Securities told Business Standard.Sankhe further reasoned that when the company had announced the demerger process, its scrip had touched Rs. 988.30 in May this year but then hovered around Rs. ..