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Earnings could improve from Q2 as oil eases; Enam's Sridhar Sivaram stays underweight on IT, banks
Enam Holdings Investment Director Sridhar Sivaram remains underweight on IT and banks, citing weak earnings growth and intense competition, while favouring manufacturing, power equipment, pharmaceuticals, NBFCs and gold. Sivaram also recommends international diversification and expects gold to deliver double-digit annual returns over the next five years.
Talent fight heats up in India finance hub as two chiefs quit
GIFT City, India's international finance hub, is experiencing intense competition for talent as two foreign bank chiefs have recently resigned. Taral Shah of DBS Bank and Saiju Gandhi of Standard Chartered have left their roles, highlighting a challenge for the growing hub. This comes as global banks expand their presence, attracted by tax incentives and a lighter regulatory framework.
India’s peak power demand hits 271 GW, breaks record for fourth straight day
India's peak power demand neared 271 GW on Thursday, a significant increase driven by intense heat. This marks the fourth consecutive day of record demand. Thermal power met over 62% of the need, with coal supplies monitored. The ministry is assessing trends for future projections. Peak demand in solar hours has been met without issues this week.
Delhi's Power Demand Hits New Record As Mercury Shoots Past 45 Degrees Celsius
Intense heatwavescaused a substantial increase in the use of cooling devices.
Temperatures rise! NTPC Green, Adani Power shares jump up to 7%; what lies ahead?
Soaring temperatures across India are fueling a surge in power demand, boosting shares of NTPC Green and Adani Power. Heatwave warnings are in effect for Mumbai and Delhi, with Gujarat and Madhya Pradesh also experiencing intense heat. Experts anticipate a record summer, benefiting power companies as they prepare for heightened electricity needs.
Coal India shares near 52-week high; Jefferies sees more upside on multiple factors
The brokerage said a recovery in power demand, supported by expectations of an intense summer and weak rainfall, could boost Coal India’s volumes.