EMCO ENERGY LTD
GMR's lenders agree to rework power unit's Rs 2,900 crore loans
GMR Warora had defaulted on interest payments on its loans and bonds last year. The power unit has total debt of ₹2,913 crore, of which 81% is deemed as a sustainable portion. The balance loan is unsustainable, which will be substituted with low-coupon non-convertible debentures as per the deal with the lenders.
Stock market update: 55 stocks hit 52-week highs on NSE
Overall, 9 shares were trading in green in Nifty50 index, while 41 were trading in red in the afternoon trade.
Maharashtra: Solar players urge MERC to scrap GSC
The Maharashtra State Electricity Distribution Company Ltd (MSEDCL) has proposed astronomical GSC, which if approved by the MERC, will make solar power costlier than the discom power
After Market: Autos, financials mixed; raters continue to rise
Here is a lowdown on the movers and shakers of Tuesday’s session.
GMR Infrastructure to raise Rs 4,000 crore in a year by selling projects, stake
The loss-making infrastructure company plans to divest projects, monetise land assets and sell stake at holding company level to raise funds.
Poor transmission network hurting projects of Tata Power, Jindal Power, JSW Energy and others
Transmission problems are also hurting power trading, said Rajesh K Mediratta, director business development at Indian Energy Exchange.
Power sector unable to utilise full capacity due to poor transmission
The power sector is unable to use at least 10 per cent of its capacity due to the choked transmission network in the country.
GMR Infrastructure's net loss widens to Rs 441 crore in December quarter
GMR's gross revenues for the quarter under discussion stood at Rs 2,638 crore against Rs 2,382 crore during the same quarter last year.
France's GDF set to make India power sector debut with Rs 650 crore buy
GDF Suez – which is part owned by the French government – will buy a 74% stake in the 1000 MW coastal thermal plant from Meenakshi for around Rs 650 crore.
GMR puts Emco Energy up for sale to reduce debt
GMR has decided to sell Emco Energy Ltd, which has a 600 mw power plant in Maharashtra, part of an exercise to reduce debt.
GMR Infrastructure gains as Emco Energy put up for sale to reduce debt
GMR has mandated global investment bank JPMorgan to help sell the recently commissioned unit, several people with direct involvement in the discussions said.
Second 300 MW unit of GMR's EMCO Energy synchronised
GMR said the second unit of the 2X300 MW power plant of EMCO Energy Ltd has been synchronised with the grid.
First 350 MW unit of GMR's Kamalanga Plant commissioned
The first 350 MW unit of GMR Kamalanga Energy Limited (GKEL) in Odisha's Dhenkanal district was declared commercially operational today.
GMR Group's Warora power plant starts commercial generation
GMR Group's thermal power plant at Warora in Maharashtra has started selling electricity from its 300 MW unit commissioned in December last year.
Capital goods sector not a favourite with mutual fund managers
The Mutual Fund industry is known to invest in stocks and sectors that are most opportune to the market conditions, and Capital Goods sector, for sure, is not on their preference radar.
Investors seek extension for solar project commissioning
At least thirty solar project developers have decided to file a petition before the state electricity regulator to seek extension of the current tariff regime.
GMR to start mining coal in Indonesia next month
GMR Energy would start mining activity at its coal mine in Indonesia from next month, according to a source.
Elecon Engineering bag orders worth Rs 208 cr
Elecon Engineering Company today said it has bagged orders worth Rs 208.50 crore from various vendors, including GMR Infra and SAIL.
Temasek to invest $200-mn in GMR Energy
Singapore-based Temasek Holdings, on Friday said that GMR Rnergy Limited (GEL) has signed a shareholders agreement with it to raise capital for energy expansion plans.
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