POWER GRID TRUST
NIT Mizoram achieves impressive placement record for 2023-2024 academic session with 86.7% overall placement
NIT Mizoram posted an 86.7% placement rate for 2023-2024, with the highest salary package at 14.5 LPA and an average over 7 LPA. Over 75 companies, including Adobe, Deloitte, Vedanta, and Mahindra & Mahindra, recruited students. Among the students, Shristi Sharma and Nishant Nitin Mishra, who secured four job offers, praised the Training and Placement Office. Internships, part of the curriculum, involved 100% student participation with organizations like SAIL, Indian Railways, and Google, offering stipends between ₹5,000 to ₹20,000 per month.
Share market update: Most active stocks of the day in terms of total traded value
The NSE Nifty index was trading 60.65 points up at 23383.6
Power demand to grow 8-9% in India, capacity will grow, but cost will fall from 2030: Praveer Sinha, Tata Power
Praveer Sinha discusses challenges in the power sector, emphasizing the upcoming reduction in power costs by 2027-2030. He underscores the crucial role of battery storage in the transition to clean energy for reliable 24x7 power availability. Sinha says energy transition is a big thing because it is the need of the hour with concerns about climate change and sustainability.
IndiGrid acquires 300 MW solar power plant for Rs 1,550 cr
IndiaGrid acquires a 300 MW solar project, expanding its portfolio to 36 power projects, 46 transmission lines, 13 substations, and 855 MWAC of solar generation capacity. The acquisition aims to make IndiaGrid a sustainable and superior risk-adjusted yield platform for investors.
KKR raises $6.4 billion for Asia Pacific infrastructure fund
KKR first established its global infrastructure team and strategy in 2008 and the Firm manages approximately $56 billion in assets under management across more than 80 infrastructure investments and has a team of more than 90 dedicated infrastructure investment professionals globally.
ReNew to sell 300 MW solar project to India Grid Trust for Rs 1550 crore
India Grid Trust is an infrastructure investment trust (InvIT). The transaction is expected to close following power purchase agreement conditions. ReNew has signed a Share Purchase Agreement with India Grid Trust to sell a 300 MW solar project in Rajasthan – ReNew Solar Urja Private Limited (RSUPL)- for a total enterprise value of Rs 1550 crore.
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Bright future comes in small sizes: Mini grids promise to electrify the country
Patchy electricity connection in India’s hinterlands remains a big obstacle for development. Solar’s ability to be successfully deployed in smaller sizes can change the energy landscape.
Sensex, Nifty start 2024 on a muted note tracking mixed global cues
However, key benchmark indices Nifty50 and Sensex clocked a 20% rise in 2023, aided by steady domestic inflows, return of foreign inflows, strong domestic growth, steady earnings and an easing global interest rate outlook.
IndiGrid raises Rs 670 crores through institutional placement
The Board of Directors of IndiGrid Investment Managers acting in the capacity of investment manager of IndiGrid, approved the issuance and allotment of 5.27 crore new units through the institutional placement to 11 eligible investors on December 8, 2023. More than 90% of incremental units were issued to insurance companies, mutual funds, pension funds, and domestic institutions.
BSE-listed firms' mcap touches record high of Rs 324 lakh crore
"Nifty has finally managed to touch the much-anticipated 20,000-mark in the second attempt after July 2023. Robust flows from local investors amid mixed/negative flows from foreigners have helped Nifty achieve this landmark
Momentum Pick: Coal India up 23% in 7 sessions. How long can the fire last?
A strong demand outlook amid growing power consumption scenario along with robust chart structure puts the stock in an enviable position with a potential upside of up to 28% seen over the next 12 months.
Pashupati Advani on his top bet among new age stocks, M&M buying RBL stake and more
"I am still looking at Paytm as the mover for the market. I think that should be looked at. I would like it to be a little cheaper. It has come down a little bit from Rs 800 plus. In the mid 700s, it was probably a good play. As I said, I am in and out and so I am taking it as a trading stock as well."
Stocks in news: TCS, ICICI Securities, BPCL, Adani Enterprises, SBI Life
Promoter company Housing Development Finance Corp (HDFC) has further bought 0.77% stake in its subsidiary HDFC Life through bulk deals on Wednesday.
7 Nifty stocks reach new 52-week high: Britannia, HCL Technologies, Tata Consumer Products lead way
Several Nifty stocks, including Britannia Industries, HCL Technologies, and Tata Consumer Products, have reached new 52-week highs, signaling robust growth and promising investment opportunities. Investors are closely watching Britannia Industries for continued momentum, while HCL Technologies' achievement reaffirms its position as a key player in the tech industry. Tata Consumer Products' strategic acquisitions and expansion into new markets have contributed to its remarkable performance, and HDFC Life Insurance Company's consistent growth and product offerings have garnered investors' attention. Similarly, Tata Motors' strategic initiatives, Power Grid Corporation's renewable energy focus, and NTPC's commitment to clean energy have resulted in market success.
KKR's two InvITs - IndiGrid and Virescent - merge in first-of-a-kind deal
Infrastructure Investment Trust (InvIT) IndiGrid, owned by KKR in the Indian power sector, has taken over Virescent Renewable Energy Trust, another fund floated by the same company. Valued at INR40bn ($533m), Sebi approval is being sought for the transaction. Although Indian law currently prohibits such mergers, the deal is the first of its kind. About half a dozen domestic and global energy developers, including Jindal Steel and Power, Actis, and an Abu Dhabi-based conglomerate, competed in the final round.
IndiGrid to acquire Virescent Renewable Energy Trust for up to Rs 4,000 cr
Infrastructure investment trust IndiGrid has signed a share purchase agreement for the acquisition of Virescent Renewable Energy Trust (VRET) at an enterprise value of up to INR40bn ($533m) in cash. IndiGrid executed the agreement to acquire 100% of the units of VRET from the unitholders of VRET in May 2023. The Virescent portfolio includes 16 operating solar projects with an asset under management of INR41.21bn as of the end of March.
IndiGrid raises Rs 1,140 cr via bonds
India Grid Trust has announced that IFC (International Finance Corporation) has subscribed to a listed NCD (non-convertible debenture) issuance of IndiGrid, aggregating to Rs 1,140 crore, according to a statement.
The real-world costs of the digital race for bitcoin
In Texas, the computers kept running until just after midnight. Then the state’s power grid operator ordered them shut off, under an agreement that allowed it to do so if the system was about to fail. In return, it began paying the bitcoin company, Bitdeer, an average of $175,000 an hour to keep the computers offline. Over the next four days, Bitdeer would make more than $18 million for not operating, from fees ultimately paid by Texans who had endured the storm.
India Grid commissions its first battery energy storage system in Maharashtra
It will not only "reduce our emissions but also act as a prototype for expanding our presence in energy transition opportunities in the sector," it stated.
So folks, shall we go with the flow, or get stuck in the rut of audit books?
Nation-building and business ethics, as the Vanderbilts, JP Morgans, Rockefellers, Carnegies and Fords who made America knew all too well, are incompatible.
'Market volatility doesn't deter these top stock picks from energy & auto sectors'
"One of my previous picks was TD Power and I would like to suggest another trade, which is Cummins India. It has already gained 21% this year and is currently trading at 1683. It has been outperforming the benchmark index. One can accumulate it at current levels or on a decline towards 1650."
IndiGrid completes acquisition of Khargone Transmission Ltd
"IndiGrid announces the completion of acquisition of 100 per cent shareholding and economic interest in Khargone Transmission Ltd (KTL) from SPTL," it said in a statement.
Indi Grid to buy Khargone Transmission for ₹1,497cr
"IndiGrid signed a share purchase agreement on January 21, 2023, for the acquisition of a 100% shareholding and economic interest, in one or more tranches, in Khargone Transmission from Sterlite Power Transmission (one of the sponsors of IndiGrid)," the company said in a statement.
IndiGrid to acquire Khargone Transmission at about Rs 1497.5 cr
The Khargone Transmission was incorporated on November 28, 2015. The transmission project was awarded by the Ministry of Power for a 35-year period from the scheduled commercial operation date, on a BOOM basis.
IndiGrid, G R Infraprojects partner to bid for power transmission projects worth Rs 5,000 crore
An agreement has been signed to jointly bid for identified TBCB (Tariff Based Competitive Bidding) transmission projects aggregating to approximately Rs 5,000 crore, it stated.
Stocks in the news: SBI, Wipro, Tata Motors, IRCTC, Power Grid and multiplexes
State Bank of India said its board has approved Rs 10,000 crore capital raising plan through Tier I bonds. The fund raising through Additional Tier 1 capital up to an amount of Rs 10,000 crore is subject to approval from the government.
Can stocks of India’s Maharatna cos bring ‘mahalaxmi’ to D-Street investors in 2023?
Some experts believe that stocks in this space are up for big gains in 2023 in the run-up to the Union Budget for 2023-24 (April-March) in February. This would be the last one ahead of the general elections in 2024, and experts are eyeing a growth-oriented budget from the incumbent government to give further impetus to capital investments.
KKR India launches Highways Infrastructure Trust
HIT is KKR’s third InvIT in India, in addition to Virescent Renewable Energy Trust- India’s first renewable energy InvIT, and India Grid Trust, a transmissions InvIT. Together, these platforms operate and manage 33 assets valued at over $3.8 billion across 22 states or union territories across India.
Can’t say the market has bottomed out; but don’t sit on cash either: Ajay Srivastava
“The beauty of this market is one does not have to sit in cash. Now there are opportunities. I am not recommending but I am just giving you what my portfolio has. It has things like the IndiGrid Trust, Power Grid Trust, real estate REITs which are giving quarterly returns, the share prices are good, people are buying because the asset values are going up at the end of the day.”
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