Page 17 - Power Sector

Stocks to Watch today, Aug 18: Concord, Adani Group, JSW Steel, EKI Energy

Stocks to watch on August 18, 2023: The Rekha Jhunjhunwala backed IPO, Concord Biotech, is set to debut on the bourses today at 10-15 per cent premium to its issue price.

Genus Power Infrastructures arm bags order worth Rs 2,209.8 crore

Genus Power Infrastructures on Tuesday said its subsidiary has bagged a Rs 2,209.84-crore order for supply and installation of 21.77 lakh smart pre-paid electricity meters. The company has received a letter of award (LOA) of Rs 2,209.84 crore (net of tax) for the appointment of advanced metering infrastructure service provider. This includes the design of the advanced metering infrastructure, supply, installation and commissioning of 21.77 lakh prepaid smart meters on design, build, finance, own, operate, transfer (DBFOOT) basis under revamped distribution sector scheme (RDSS), a company statement said. "Post this order inflow, our total order book stands in excess of Rs 8,200 crore (net of tax). Many state electricity boards have initiated the process of inviting bids for the deployment of smart meters, which serves as a testament to the positive impact of the 'reforms-based, result-linked power distribution sector scheme'," it stated. Based on our analysis, the company anticipate

Adani Power Q1FY24 results: Net profit up 83.3% YoY, revenue rises 16%

During the quarter, Adani Power achieved an average consolidated plant load factor of 60.1 per cent and sales of 17.5 billion units on an installed capacity of 15,250 MW

NTPC, Adani Power: Power stocks may surge up to 12% on robust trend

So far this year, NTPC has soared 36 per cent, Torrent Power zoomed 39 per cent and Power Grid Corporation of India advanced 21 per cent. Overall trend in these power stocks continues to remain sturdy

Tata Power surges 10% in 3 days on positive outlook; stock nears 52-wk high

The base and peak demand is expected to maintain growth at above long-term trajectory during FY24 driven by higher industrial and commercial activities, digitalization and electric transportation.

NTPC consolidated net profit rises 23% to Rs 4,907 cr in June quarter

State-owned power giant NTPC on Saturday posted over 23 per cent rise in consolidated net profit at Rs 4,907.13 crore for June quarter 2023-24. In the year-ago period, net profit was Rs 3,977.77 crore, NTPC said in a BSE filing. Total revenue from operations dipped slightly to Rs 43,390.02 crore from Rs 43,560.72 crore in the same period a year ago. "NTPC Group generated 103.98 Billion Units in Q1 FY24 as compared to 104.42 Billion Units in Q1 FY23. NTPC's standalone gross generation in Q1 FY24 is 88.55 Billion Units as compared to 90.49 Billion Units in the corresponding previous period," it said. NTPC coal stations achieved a plant load factor (capacity utilisation) of 77.43 per cent as against the national average of 70.38 per cent during Q1 FY24. On a standalone basis, total income of NTPC in Q1 FY24 was Rs 39,681 crore as against Rs 40,726 crore earlier. Profit After Tax (PAT) on standalone basis was Rs 4,066 crore as against Rs 3,717 crore in Q1 FY23, registering an incre

Larsen & Toubro bags orders up to Rs 2,500 crore in India, abroad

Larsen and Toubro (L&T) on Tuesday said it has bagged orders in the range of Rs 1,000 crore to Rs 2,500 crore in the power transmission and distribution segments within the country and abroad. New orders have been secured in India and markets abroad, the infrastructure major said in a regulatory filing. Its arm "L&T Construction wins significant orders for its power transmission and distribution business", the company said. On the domestic front, the business has won an order to implement SCADA/DMS and related IT infrastructure for urban area power distribution systems in central Gujarat. Another order is for building a 400kV double circuit transmission line in Jharkhand. In the Middle East, the company has received an order for the construction of a High Voltage Direct Current (HVDC) transmission segment. This link is part of a large capacity Voltage Source Converter (VSC) based HVDC system that connects Neom Industrial City and Yanbu city in western Saudi Arabia. In the ...

SJVN hits new high on strong order inflows; stock surges 37% in one week

Government of Arunachal Pradesh has allotted five projects totalling 5.097 MW to the SJVN.

Power, infra, fertilsiers: How centre is incentivising states for reforms

Fund transfer linked to them meeting certain benchmarks in improving sectors

How infrastructural challenges, legacy issues could impact power reforms

A series of regulations aimed at improving electricity supplies and empowering customers could reshape India's electricity market, provided infrastructure and legacy issues are sorted out first

This smallcap company stock has zoomed nearly 100% in 6 weeks

In past two trading days, the stock of Genus Power has rallied 30% after signing definitive agreements with Gem View Investment, an affiliate of GIC, Singapore.

Adani Electricity's technical, commercial losses shrink to 5.93% in FY23

There were over 18,542 raids in FY23 as against 10,458 in FY22, while the irregularity assessed went up to Rs 38.48 crore in FY23 from Rs 21.75 crore in the year-ago period

Power sector lender REC set to raise $1 bn via loans to fund infra projects

The state-owned company's fundraising via external commercial borrowing is split in two tranches, with the first expected to close this month amounting to $505 million

Pace of lending to infrastructure sector tumbles sharply to 1.8% in May

The share of power sector loans is around half of the bank's infrastructure loan portfolio of Rs 12.22 trillion as of May 2023

UP to Bihar: Power supply dips in rural areas of some major states

The CEA's data (till February 2023) showed it was 23.7 hours in urban India

NERPC meet takes decision on key issues of Northeast's power sector

The 24th Technical Coordination Committee meeting of the North East Regional Power Committee (NERPC) discussed various crucial issues pertaining to the power sector in the region. The meeting chaired by Arunachal Pradesh Deputy Chief Minister Chowna Mein at Tawang on Wednesday discussed the challenges and opportunities for the development of the power sector in the northeastern states. Mein, who is the chairman of the NERPC, in his address, lauded the successful deliberation of the meeting towards resolving issues through the spirit of cooperation, leading to significant improvement of the power sector in the North Eastern Region. The deputy chief minister said the power sector holds immense importance as one of the core industries contributing to the Index of Industrial Production (IIP). "Power is not only a raw material for industries but also a basic necessity for the general public. Therefore, discussions on power sector issues in forums like NERPC are vital," he said. Mein ad

World Bank to provide $200 mn for power sector reforms in Himachal

The World Bank will provide USD 200 million (about Rs 1,600 crore loan) to finance the Himachal Power Sector Development Program to bring improvements in renewable energy integration in the state, Chief Minister Sukhvinder Singh Sukhu said on Wednesday. With the addition of state equity, the total outlay for the programme would be Rs 2,000 crore and the World Bank funding is expected to be available by August 2023 for a duration of five years up to 2028, he said in a statement issued here. He also informed that the World Bank Board has approved the programme on June 27, 2023, in Washington. Improvements in the utilisation of renewable energy, reliability of grid at transmission and distribution level and strengthening of the institutional capacities of the various power utilities/agencies of the state would be undertaken under the programme, he said. Efforts will be made towards the promotion of integrated resource planning of the power sector, piloting demand response management,

States offered Rs 1.4 trillion loans linked to power sector reforms

Govts unable to complete reform process in 2021-22 and 2022-23 may also benefit from additional borrowing

12 states to get Rs 66,413 crore in incentives for power sector reforms

The Ministry of Finance has granted permission to 12 state governments to raise financial resources of Rs 66,413 crore through borrowing permissions

Electricity prices to hike in Delhi: AAP, BJP indulge in blame game

Delhi Power Minister Atishi on Monday blamed the Centre's "mismanagement" for the hike in power purchase adjustment cost (PPAC), while the BJP claimed it was a result of "collusion" between the AAP government and power discoms. An "artificial shortage" was pushing up coal prices in the country. The Centre is forcing the power generation companies to buy at least 10 per cent of imported coal, which is 10 times costlier than domestic coal, Atishi charged. "Delhi's consumers are being forced to bear the brunt of the central government's coal crisis through a hike in the power purchasing adjustment charge. Its power generation company NTPC is selling electricity to Delhi at a massive 25-50 per cent hike over DERC (Delhi Electricity Regulatory Commission) stipulated rates," she charged. "Why is the BJP-led central government forcing power companies to purchase 10 per cent of imported coal, which is 10 times more expensive? Is the BJP also colluding with coal importers," she asked. Domes