INDIA ENERGY WEEK
We expect policy stability, renewable energy investment from Budget 2024: Sharad Mahendra, JSW Energy
With these PPAs signing, the percentage of open capacity once these capacities get commissioned in a span of 18 to 24 months, ultimately the merchant portfolio will be even lower than 15% going forward. So, more of long-term PPAs will be there.
India's biggest concentrated solar tender likely this year
The tender will be issued by the end of this fiscal, Gupta said. SECI is the nodal agency for implementing the government's renewable energy projects. "There have been solar thermal tenders but not of this scale," Gupta told reporters on the sidelines of India Energy Storage Week 2024 organised by India Energy Storage Alliance.
India taps Africa, Latin America to shore up critical mineral supply
India actively pursues strategic partnerships with Africa and Latin America to secure critical minerals, focusing on lithium for clean energy technologies. The country seeks to reduce import dependency and encourages private Indian investments in overseas mineral blocks.
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Relationship between India, US 'multiplicative': US envoy Garcetti
"This (India-US) is a relationship that isn't just additive. It's not just the US plus India. It's multiplicative. It's the United States times India," Garcetti said at the meeting held in the suburbs of Washington on Monday.
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Stocks to buy: Bet on stocks that regularly beat analyst estimates; 5 stocks with double-digit upside
Stocks to buy: Out of 304 companies, where estimates are compiled by a minimum of three analysts through Reuters-Refinitiv, 50 stocks have consistently surpassed analysts’ net profit estimates in all four quarters of 2023-24. This group of 50 stocks has delivered an average return of 72.4% over the past year, compared to the BSE 500 index’s 38% return over the same period. This data is based on closing values as of 18 June. The article explores the five companies that have been covered by a significant number of analysts and currently offer double-digit share price potential.
Block deals worth over Rs 40,543 crore this week. Indus Towers, HAL, Suzlon Energy among stocks with major action
Despite the Nifty index closing the shortened trading week with a slight increase of 0.4%, significant activity was observed in block deals. Over three dozen companies across various market caps saw block deals worth a total of ₹40,543 crore, involving both buying and selling.
Sri Lanka Police officers in India for specially-designed two-week training course
"At the request of the Sri Lanka Police, the High Commission of India has been facilitating tailor-made capacity building training courses for the personnel of the Sri Lankan Police at the premier police training institutions viz. Central Detective Training Institute (CDTI), Jaipur; CDTI, Hyderabad; CDTI, Kolkata and National Security Guard (NSG), Manesar, in India," the mission said in a press release.
Stock market update: Stocks that hit 52-week lows on NSE
Maruti Suzuki, Dr. Reddys, UltraTech Cem., Divis Labs and Grasim Inds. were among the top losers on NSE.
Feasibility study on proposal to establish land connectivity with India in final stages, says Sri Lankan President
Sri Lankan President Ranil Wickremesinghe announced that the feasibility study for a land connectivity proposal with India is nearing completion. This initiative, along with discussions on a potential power grid connection and the sale of excess renewable energy to India, will be on the agenda during External Affairs Minister S Jaishankar's upcoming visit to Sri Lanka on June 20.
Centre slashes windfall tax on crude oil to Rs 3,250 per tonne
The new rates will be effective June 15, 2024, Central Board of Indirect Taxes and Customs ( CBIC) said in a late night notification Friday.
India Energy Storage Alliance to bring 'white paper' on sustainable future including renewables
India Energy Storage Alliance to release white paper at IESW 2024 addressing EV, cleantech, green hydrogen, and battery storage challenges, aiming to make India a global cleantech hub.
Block deals worth over Rs 7,640 crore this week. Chandrababu Naidu’s Heritage Foods, Adani Ports see top action
The week was an eventful one. Besides the general election results, D-Street saw some prominent block deals which included over three dozen companies from large, mid and smallcap segments. Shares worth Rs 7,640 crore were traded on screen, which included both buying and selling.
Stock market update: Stocks that hit 52-week lows on NSE in today's trade
Adani Ports SEZ, Adani Ent., ONGC, NTPC and SBI were among the top losers on NSE in today's trade.
Powering ahead: How India made big electricity blackouts a thing of the past
The present situation is a far cry from July 30 and 31, 2012, when India experienced the world's largest blackout. During that crisis, the northern and eastern grids collapsed due to overload, leaving 620 million people without power for more than 13 hours. Since then, significant improvements have transformed India’s transmission network into the world's largest unified grid.
Petronas renewable energy arm leads race to climb green tower at Brookfield
Malaysian energy giant Petronas's renewable energy arm Gentari Sdn Bhd is leading the race for a part of India's renewable portfolio from Brookfield Asset Management.
NCLT halts Hiranmaye Energy resolution plan
The Kolkata bench of the bankruptcy court halted the corporate insolvency resolution process (CIRP) of thermal power company Hiranmaye Energy on the promoter's plea that lenders should consider its ₹1,101.5 crore settlement offer, which is about one-fifth of the lenders' debt, showed a tribunal order.
Corporate Actions This Week: Infosys, JSW Energy, IEX to go ex-dividend; Davangere Sugar ex-split
This week, several companies like Infosys and GlaxoSmithKline Pharmaceuticals will go ex-dividend, while Balaxi Pharmaceuticals and Davangere Sugar Company will undergo stock splits. Ex-dividend date is when stock prices adjust for dividend payouts, usually one or two days before the record date.
Ready to build high-capacity nuclear power units at new site in India: Russia
Russia and India are set to expand cooperation in atomic energy. There are plans to construct high-capacity nuclear power units at a new site in India. Department of Atomic Energy secretary Ajit Kumar Mohanty and Rosatom State Atomic Energy Corporation of Russia Director General Alexey Likhachev discussed enhancing nuclear energy collaboration during a visit to the Pilot Demonstration Energy Complex in Russia. Likhachev expressed readiness for extensive cooperation covering various nuclear energy applications.
Election concerns weigh as only 11 smallcaps post double-digit weekly returns
Both the BSE Midcap and Smallcap indices lost over 4% each. In the smallcap pack, 11 stocks rose, with CarTrade Tech leading with 24% returns.
India revises windfall tax to Rs 8,400 per tonne, effective May 1
The export duty on petrol diesel and aviation turbine fuel (ATF) will continue to be nil. The new rates will be effective May 1, the central board of Indirect Taxes and Customs( CBIC) said in a late night notification Tuesday. The government had on April 16 raised the windfall tax on petroleum crude to 9,600 rupees a metric ton from 6,800 rupees.
SAIL, IRFC among 46 stocks with double digit returns this week. SPARC, 82 others deliver negative returns
Notwithstanding high volatility over the week, the BSE 500 index outperformed the headline BSE S&P Sensex with the latter gaining 0.90% (642 points) on a weekly basis.
India going to be the global story on energy, says Petroleum Minister Hardeep Puri
India is poised to become a major growth story in the energy sector by 2030, Union Petroleum Minister Hardeep Puri said. The oil minister also stated that domestic production will increase, and the country is aggressively working on biofuels, compressed biogas, and green hydrogen to augment its energy output.
India for predictable trajectory to cleaner fuel for orderly energy transition
The recent reforms in the sector, including diversification of sources of imports and changes in gas pricing mechanism, ensured that prices of petrol and diesel in India declined while the global prices were shooting up, he said.
Petrobras in talks for projects with Gulf, Indian, Chinese firms, CEO says
Jean Paul Prates said Petrobras has also formed task forces with Indian explorer Oil and Natural Gas Corp and refiner Bharat Petroleum Corp Ltd to look at projects in Brazil as well as overseas, in refining and renewables. The Indian firms already own stakes in Brazilian oil and gas blocks.
Oil cos losing close to Rs 3 a litre on diesel, profit on petrol down
Indian state-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), are reportedly losing nearly Rs 3 per liter on diesel, with reduced profit margins on petrol due to international oil price fluctuations. Despite a record Rs 69,000 crore profit in the first nine months of the fiscal year, the companies have not revised fuel prices for almost two years, citing market volatility and previous unrecouped losses.
India saves $6 bn on Qatar LNG deal renewal; signs $78 billion pact for 20 years
The two sides were engaged in intense negotiations over the last few months. There were heightened tensions when a Qatar court sentenced eight former Indian Navy officials to death in October for allegedly spying for Israel. At December-end, their sentence was reduced.
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