NET METERING
Vedanta to spend $5 bln on decarbonization; to be net neutral by 2050
Vedanta Ltd plans to spend $5 billion to cut carbon emissions by 25% by 2030, aiming to be carbon net neutral by 2050. It targets 2.5 GW of round-the-clock renewable energy by 2030, with 838 MW under construction.
India’s climate dilemma will hang over PM Modi’s next five years
Prime Minister Narendra Modi aims to lead India into a 'green era' while grappling with a reliance on coal energy. He faces pressure to meet climate targets, including net zero emissions by 2070 and massive renewable energy goals.
Adani third Indian business house to cross $10-b mark in operating profit
Adani Group joins Tata Group and Mukesh Ambani's Reliance Group in achieving $10 billion annual operating profit in FY24 despite challenges.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies posted a record 45 per cent rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24 as the apples-to-airport conglomerate made a massive comeback, the group said on Sunday.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies saw a record 45% rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24, marking a massive comeback for the apples-to-airport conglomerate. The group focused on containing debt, reducing founder share pledge, and consolidating the business in core competencies. The five-year compound annual growth rate for profit growth was 54%.
Adani Group FY24 profit jumps 55% to cross Rs 30,000 crore. Jefferies likes 3 stocks
Adani Group Stocks: Adani Group's FY24 profit surges by 55% to Rs 30,768 crore post Hindenburg crisis. Jefferies favors Adani Enterprises, Adani Ports, and Adani Energy Solutions, citing robust EBITDA growth and strategic initiatives. Adani Ports set to join Sensex on June 24.
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GAIL Q4 Results: Net profit triples on gas transmission business turnaround
State-owned gas utility GAIL (India) Ltd on Thursday reported more than tripling of its fourth quarter net profit after the natural gas transmission and petrochemical business saw a turnaround.
Net metering key to rooftop sunshine
The promise of 300 units of free electricity for setting up rooftop solar panels is attractive. However, since many states give free power, setting up solar panels seems like an additional effort with no significant benefit. Outreach to target consumers, and increasing their awareness of the benefits of switching to rooftop solar, must be an integral effort of this programme. The on-ground outreach in Ayodhya for rooftop solar could serve as a template in other towns and cities.
Adani Energy Solutions' Q4 net profit falls 13% to Rs 381 cr
Adani Energy Solutions Ltd reported a 13.26% fall in net profit to Rs 381.29 crore in March 2024, with FY 24 income at Rs 17,218.31 crore. Growth attributed to robust energy demand and market opportunities.
ONGC Q3 net falls 14% as oil prices dip
Oil and Natural Gas Corp (ONGC) reported a 14% decline in profit to ₹9,536 crore in the October-December quarter due to lower production and oil and gas prices. Gross revenue also fell by 10% to ₹34,789 crore during the same period.
ONGC Q3 Results: Net profit falls 10% YoY to Rs 10,356 crore; dividend declared at Rs 4/share
Oil and Natural Gas Corporation (ONGC) reported a 9.9% year-on-year (YoY) decline in consolidated net profit for the quarter ended December 2023 to Rs 10,356 crore, compared to Rs 11,489 crore in the year-ago period.
JSW Infrastructure Q3 Results: Co posts over 2-fold jump in net profit at Rs 254 crore
JSW Infrastructure on Friday reported a more than two-fold jump in its consolidated net profit to Rs 253.57 crore in the October-December quarter of this fiscal, driven by higher income. The country's second-largest private port operator posted a net profit of Rs 116.38 crore during the October-December period of 2022-23.
BARC increases TV viewership meter count to 59,000: Sources
BARC has increased the meter count used for measuring viewership of Indian TV audiences to 59,000 and is on the way to touch 65,000 in the near term. Following the Ministry of Information and Broadcasting's (MIB) policy guidelines for TV rating agencies in India, council had installed 55,000 bar-o-meters as of December 2022.
BSES plans to energise over 1,000 rooftop solar installations in 2024-25
BSES is planning to energise over BSES officials further said that more than 100 residential societies have opted for rooftop solar connections, helping consumers save over Rs 110 crore annually. The electricity provider has energised 6,000 solar installations and plans to add 1,000 more.
Overnight billionaire! Karachi fisherman nets fortune with rare medicinal fish
The Sowa fish, weighing between 20 to 40 kgs and reaching lengths of up to 1.5 meters, is highly coveted in East Asian countries. Valued at around 7 million rupees per fish in auctions, it is renowned for its healing properties, with a thread-like substance from its body even utilized in surgical procedures.
View: GoI must set up an empowered authority reporting to PMO to oversee India’s energy transition
Industry needs a policy glide path, which GoI alone can lay out. While policy support is robust in certain sectors, The absence of a holistic approach leaves vital questions hanging: what recourse exists if competitiveness suffers? Life cycle costs of new assets are not recovered? What if corporate profits are dented?
Millions of Smart Meters to become obsolete as 3G Networks are phased out - Will it impact your phone?
Millions of smart meters in the UK are at risk of becoming outdated as certain 2G and 3G phone networks face imminent shutdown. The impending network closures may lead to these meters becoming nonfunctional, compelling the need for their replacement.
Power companies plug into smart meters for sustainable solutions
Over the past few months, nearly a dozen companies have announced plans and won orders to implement the smart metering project across locations. Why? Consumption data from these smart meters will help power distributors make distribution more sustainable, curb losses, arrest power thefts and leakages, and balance the grid, directly addressing the climate emergency.
'Eye' on GIFT City: 158-meter Ferris wheel to come up as part of social infra zone
Gujarat International Finance Tec-City Company Ltd (GIFTCL) is looking to develop social infrastructure, including an entertainment and retail zone along with a large Ferris wheel called GIFT Eye, in GIFT City. The development will cover a minimum of 1.5 million square feet and will be located adjacent to the riverfront. GIFTCL has invited bids for the project.
GIFT City plans social infra development on 20.5 acres with 158-meter GIFT Eye
The Gujarat International Finance Tec-City Company Ltd (GIFTCL) plans to develop a social infrastructure, including an entertainment, recreational, and retail zone, in GIFT City. The development will cover a minimum of 1.5 million sq ft and will include attractions such as a large ferris wheel and fountain show. The company has invited bids for the project, with interested parties expected to have a minimum net worth of Rs 10,000 crores ($1.2 billion) and a track record of delivering real estate projects.
Will increase share of natural gas 2.5 times by 2030, says IOC executive
Indian Oil has set a net zero operational emissions target by 2046 and increasing the use of less-emitting gas is a key element of that plan. "Our natural gas consumption strategy is part of the national goal to increase the share of gas in primary energy consumption to 15% by 2030 from the current 6%," Sukla Mistry, Director (Refineries), told ET.
Genus Power Infrastructures arm bags order worth Rs 2,210 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.
GAIL India Q1 Results: Standalone net dives 51.5% YoY to Rs 1,412 crore as natural gas marketing drags
GAIL India has reported a 51.5% YoY drop in net profit largely due to weak earnings in the petrochemicals business and gas marketing. Despite this, the company's QoQ net profit more than doubled compared to Q1 2023, largely due to increased gas marketing and transmission volumes, leading to an increased tariff realisation.
Fishing net incident affects ONGC's KG field commissioning operations
ONGC resumed its first deepsea project in India's KG basin after a month of delay caused by Armada Sterling V's fuel-extracting mechanism getting entangled with fishing nets. ONGC sought help from the Indian Navy, whose divers successfully cleared the nets from the vessel. As a result, the operations, which had stopped since the incident happened, were restored, leading to "considerable savings to the exchequer." The first oil from the KG-D5 block is expected to be produced in May 2023.
Multibagger Meter: 86 stocks hit jackpot in 2022, but that’s only one-fourth of 2021
A count of multibagger stocks with a market capitalisation of over Rs 500 crore shows that the number of stocks that at least doubled investor wealth in a given calendar year were 135 in 2020 and 336 in 2021. The pre-Covid years of 2018 and 2019 rewarded investors with only 19 multibagger stocks each.
Adani arm bags Rs 1,300 cr smart meters installation deal from Mumbai's BEST
Adani Transmission's subsidiary Adani Electricity Mumbai distributes power in the suburbs, where it competes with Tata Power. The company has also gone public with its ambitions to expand to other pockets in the state and capitalise on a liberalised policy once it is implemented. The current contract involves installing the smart meters over a 30-month period and maintaining them for the following 90 months, as per a statement.
BSES consumers generated over 100 MWp power from rooftop solar systems
BSES discoms BRPL and BYPL have energised over 3,100 rooftop solar net metering connections, including the highest 1,805 residential, 665 educational institutions and 554 commercial establishments, said a BSES spokesperson.
To popularise solar energy, Bengal allows net metering for individual households
The West Bengal Electricity Regulatory Commission in its recent amendments to the Cogeneration and Electricity Generation from Renewable Sources Regulations 2013 had allowed net metering for individual households from 1 KW but had restricted it to 5 KW, a top official told PTI.
Examining revision of 10kW net metering cap for solar rooftop projects: Power Ministry
The ministry of power tweeted that it received representations on the issue, “which are being examined and based on this a call will be taken for balancing the interest of all stakeholders.”
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