Tag: electric

Adani Power's share price soared 5 percent to a new 52-week high of Rs 419 apiece on Friday, taking its rally so far in 2022 to 307 percent. Adani Power surpassed the state-owned electric utility company NTPC in terms of market capitalization (market-cap) after a sharp rally in the share price of Gautam Adani-led Group company. Adani Power stood at 35th position with an m-cap of Rs 160,4291 crore, while NTPC stood at 37th spot in the overall ranking with a market cap of Rs 154,710 crore, BSE data shows. Adani Power also surpassed automobile company Mahindra & Mahindra (M&M), which has an m-cap of Rs 156,394 crore, data shows. Adani Power's share price has risen over 40 percent in the last month. Adani Power reported a 17-fold jump in its consolidated profit after tax (PAT) at Rs 4,780 crore in the June quarter (Q1FY23). The Adani Group electric utility company had posted PAT of Rs 278 crore in Q1FY22. Read more

Soon, in India, anyone buy can sell or trade electricity – both conventional (coal, gas hydro) and renewable energy (solar, wind). The over-the-counter (OTC) market allows buyers and sellers to directly transact electricity, and negotiate the price and contract. To facilitate this trade Indian electricity market will have a new platform. Apex regulator Central Electricity Regulatory Commission (CERC) last week issued the guidelines for setting up an OTC platform in India, which the sector executives said would be the world’s first regulated OTC platform. The CERC in a 2017 order identified the need for a regulatory framework in India to help electricity consumers buy directly. Read more

Shares of Bajaj Electricals surged 11 percent to Rs 1,159.95 on the BSE in Friday’s intra-day trade after the household appliances company announced that its board approved business restructuring. The Board has informed the exchanges that it would explore a full range of options and alternatives, including demerger, subsidiarization, and strategic partnerships. The board has also approved the formation of a wholly-owned subsidiary of the company, which could provide a ready vehicle to enable the above restructuring it added. Considering the varied nature and potential opportunities of each of the business segments and the need for a focused approach to unlock these opportunities, the Board of Directors of the Company has decided that the Company should undertake a comprehensive review of the existing corporate structure, the company said in a press release.The board of directors has authorized the BEL management to evaluate and recommend such options and alternatives, Read more

Indian Energy Exchange (IEX) gained 20% to a record high of Rs 956.15 on Tuesday, after the energy trading platform said it would consider a bonus issue of shares on october 21st.Increased economic activity after the second wave of the coronavirus has resulted in a shortage in coal supply and driven up electricity demand, proving a boon for New Delhi-based IEX which controls 95% of the power exchange market.The company board will consider and approve the unaudited financial results for the quarter and half year ended September 30, 2021 on Thursday. IEX is the premier electricity exchange in India, which facilitates electricity trade. IEX commands a market share of around 95% in the power exchange market. The stock has surged surged around 160% in the past six months whereas it has delivered multibagger return of over 315% in 2021 (year-to-date) so far. Read more

Shares of tata power gained 6.5 percent and hit a 52 week of Rs 179.65 on the back of forming a partnership with TVS Motor Company for the implementation of electric vehicle charging infrastructure and deploy solar power technologies at TVS Motor locations. The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India. This will also give the customers of TVS iQube Electric access to the widespread charging network by Tata Power through the TVS Motor customer connect app and Tata Power EZ Charge app across India. The partnership aims to create a regular AC charging network and a DC fast-charging network for electric two-wheelers. This partnership will further help drive EV adoption in the country among two-wheeler customers who aspire to take a step in going electric. The two companies will also explore opportunities to use solar energy to power select TVS Motor locations. Read more

So far shares of household appliances companies have seen a mixed trend during the current year. Among individual stocks, shares of Bajaj Electricals and Orient Electric have beaten the overall segment with a surge of 100 percent 50 percent, respectively. On the other hand, Blue Star surged over 20 percent before retracing, while stocks like Symphony Limited and Whirlpool have not delivered any significant return, so far. Although the overall trend in the segment seems sideways, the ongoing consolidation in some stocks may lead to a breakout, according to technical charts' observations. Read more

Shares of electric utilities and power finance companies gained up to 13 per cent on the BSE on Thursday after Finance Minister Nirmala Sitharaman announced a special liquidity infusion scheme for the ailing power distribution sector, through which it is looking to infuse around Rs 90,000 crore in the distribution companies (discoms) to help them fight the current financial stress. Power Finance Corporation and Rural Electrification Corporation will infuse liquidity in the discoms to the extent of Rs 90,000 crore in two equal instalments. This amount will be used by discoms to pay their dues to transmission and generation firms,” the FM said. Adani Power, Tata Power, Torrent Power, CESC, Adani Transmission and Indian Energy Exchange (IEX) were up between 3 per cent and 13 per cent. In today’s trade REC share price fell 2.33 per cent to Rs 98.15, while Power Finance Corporation (PFC) shares dropped 2.17 per cent to Rs 87,65 apiece.