TORRENT POWER DIRECTOR
Torrent Power seeks shareholders nod to raise up to Rs 5,000 cr via equity shares
The generation of internal funds may not be adequate to meet all the requirements of the company's growth plans, it stated, adding that the requirement of funds is proposed to be met from both equity and debt from issuance of appropriate securities and from both domestic and international markets.
Ahead of June 4, be relatively light & in cash; curtail trading: Dipan Mehta
Dipan Mehta advises caution and light trading ahead of the upcoming election dates. He emphasizes the importance of being in cash and watching the election results closely for investment decisions.
Torrent Power Q4 Results: Net profit falls 8% to Rs 447 crore
Torrent Power on Wednesday reported a 7.6 per cent dip in its consolidated net profit at Rs 447 crore in March 2024 quarter mainly due to high expenses. The company had reported a consolidated net profit of Rs 484 crore in the quarter ended March 2023, a BSE filing showed.
SKS Power resolution faces roadblock as HC orders CBI probe
Torrent Power and Sharda Energy and Power are the two entities in the fray to acquire the 600 MW power generation company. The committee of creditors last year approved a ₹1,800-crore debt resolution plan for Sharda Energy. However, Torrent Power claimed it gave a higher offer and alleged an improper sale process.
Stocks in news: Jio Financial, Paytm, Axis Bank, Torrent Power, Asian Paints
Jio Financial has been added to BSE Allcap and LargeMidcap indices in a major rejig. The changes will be effective from March 18.
Stocks in news: Dr Reddy's, Alkem Labs, Cochin Shipyard, IDFC First Bank, Torrent Power
Three promoter entities cumulatively sold around 3% stake in Kolte-Patil Developers for Rs 111 crore through the open market on Friday.
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Twenty companies begin operations from Delhi-Mumbai Industrial Corridor cities
National Industrial Corridor Development Corporation (NICDC) managing director Rajat Kumar Saini said the four industrial smart cities are coming up on 2,500-3,000 acres of industrial land. He said 65% of the land is occupied where 274 companies have set up or are in the process of setting up their units. The four cities are Dholera (Gujarat), Greater Noida (UP), Vikram Udyogpuri (MP) and Shendra-Bidkin (Maharashtra).
India Hydrogen Alliance gets seven new industry members
Industry body India H2 Alliance on Tuesday said it has expanded its membership with seven new industry members. The India H2 Alliance is an industry coalition of global and Indian companies committed to the creation of a hydrogen value-chain and economy in India.
21 BSE500 stocks cash in to deliver double-digit returns as markets scale new highs
The IPO market also continued its momentum, which has seen five listings and out of which, four have exceeded expectations, led by Tata Technologies
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.
Stocks in news: RIL, ICICI Bank, Tata Steel, TVS Motor, Torrent Power
Power Grid Corp has been declared as the successful bidder to establish an inter-state transmission system project for evacuation of power from REZ in Rajasthan (20 GW).
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.
India Inc braces for major boardroom shake-up
"India Inc. will witness a huge dearth of good and experienced independent directors next year," said Berjis Desai, a veteran lawyer and director on several boards. "There are about two dozen professionals who can actually bring value to the table but hundreds of boards will require experienced independent directors and hence we may see a mega churn in several boards," adds Desai, who is on the board of several companies including Great Eastern Shipping, Man Infraconstruction and Jubilant Foodworks among others.
Gujarat’s newer strides towards EV manufacturing hub
Gujarat, one of India's newer automobile manufacturing hubs, is showing promise in the electric vehicle (EV) space. With demand for EVs on the rise on the back of falling operating costs and subsidies, car and two-wheeler manufacturers are ramping up their capabilities in Gujarat, which is offering tax incentives and developing its charging infrastructure.
Torrent Power enters e-mobility infrastructure space; sets up four charging stations in Gujarat
Torrent Power on Thursday said it has forayed into the electric mobility infrastructure segment with four charging stations in Gujarat. The first set of charging stations have been installed in Ahmedabad, Torrent Power said in a statement on Thursday.
Torrent Power launches EV charging stations
Electric utility Torrent Power has ventured into electric mobility infrastructure by launching four EV charging stations in Ahmedabad and two in Surat. The company is collaborating with Siemens to develop the charging network, which will provide affordable, accessible, and convenient charging facilities for users in a bid to promote the widespread adoption of electric vehicles.
HDFC Bank expects 17-18% credit growth this year
HDFC Bank expects 17-18 per cent loan growth during the current financial year as there is enough credit demand. Effective July 1, the parent mortgage firm HDFC Ltd merged with its subsidiary HDFC Bank making it the second biggest lender after State Bank of India.
Stocks in news: IndusInd Bank, Avenue Supermarts, RIL, Bajaj Finance, Vedanta, IDFC First Bank
Tube Investments arm TI Clean Mobility has entered into an agreement with Anand Jayachandran for pursuing electric small commercial vehicle business through a subsidiary to be incorporated by TI Clean Mobility.
Sensex jumps 200 points, Nifty above 18,650 on gains in IT, financials
Indian equity markets opened higher on Wednesday on hopes of an interest rate pause by major central banks and the Reserve Bank of India's upcoming monetary policy decision. Various sectors such as IT, banking, financial, auto, media, metal, pharma, healthcare and consumer durables witnessed gains. Torrent Power surged 9% due to its commitment to invest INR 27,000 crore in pumped storage hydro projects.
Torrent Power board to consider plan to raise up to Rs 3,000 cr via NCDs
Torrent Power board will consider a proposal to raise up to Rs 3,000 crore through the issuance of non-convertible debentures on a private placement basis. A meeting of the Board of Directors is scheduled to be held on Monday, May 29, 2023, to consider and approve the raising of funds by issuance of non-convertible debentures up to Rs 3,000 crore through private placement basis, a BSE filing showed
Vedanta, Torrent, among companies in race for Coastal Energen
In February last year, the Chennai bench of the National Company Law Tribunal (NCLT) admitted the power producer for corporate insolvency after the promoter and lender failed in their repeated attempts to revive the company.
Stocks in news: Infosys, HDFC Bank, ZEE, Angel One, Brightcom
Infosys has reported a weak set of numbers for the fourth quarter as its revenue in constant currency terms slumped 3% sequentially. The operating margins were also under pressure at 21%. Following the results, Infosys ADRs on Thursday slumped nearly 9%. The stock is likely to react negatively on Monday
Lalit Malik resigns as Torrent Power CFO; co appoints Saurabh Mashruwala
The board also approved the appointment of Saurabh Mashruwala as the next CFO and Whole Time Key Managerial Personnel of the company effective April 14, 2023. Mashruwala has over 33 years of experience in the fields of corporate finance, treasury, accounting, corporate restructuring, mergers, takeovers, tax planning & execution, budgeting, corporate governance, risk management, regulations and compliances etc.
Stocks in news: DLF, Atul Auto, Delhivery, HDFC, Torrent Pharma
Realty major DLF will invest around Rs 3,500 crore over the next four years to construct a new luxury housing project in Gurugram as it seeks to tap strong demand for residential properties.
Tata Power, 3 others in fray for PTC India stake
The Adani Group, which was also widely expected to participate in the bidding process, has not submitted an EoI, the people said. Five public sector undertakings, including four promoter firms of PTC India, are planning to sell their stake in the power trading company that is hit by a controversy over alleged governance issues at its financial services subsidiary.
Stocks in news: Adani Wilmar, Shree Cement, LIC, IRCTC, Zomato
Adani Wilmar's consolidated net profit rose 16% year-on-year to Rs 246 crore for the three months ended December period. Revenue from operations increased 7% year-on-year to Rs 15,438 crore in the December quarter.
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.
Torrent Power Q1 Results: Profit more than doubles to Rs 502 crore
Total income also rose to Rs 6,618.62 crore in the quarter under review from Rs 3,135.23 crore in the same period a year ago.The company's board has approved the appointment of Varun Mehta as its whole-time director, liable to retire by rotation, for five years effective from August 8, 2022, subject to the approval of shareholders.
Torrent Power appoints Varun Mehta as director
During his tenure with Torrent Power, he has worked across different business segments of the company – namely Renewables, Thermal Generation and Distribution.
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