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EL Nino to hit India's energy system harder than anywhere else in world: CREA report
India's energy system faces a significant El Nino impact, with reduced renewable power generation and increased demand for air conditioning. A CREA analysis predicts a potential 18 TWh generation gap, likely leading to a surge in coal-fired power and substantial CO2 emissions. The report stresses the urgency of accelerating solar and battery deployment to bolster grid resilience against extreme weather.
Oil prices could slip below $60 if China holds back on buying, says energy expert
Global oil supplies are expected to outpace demand in the second half of the year, increasing the risk of lower crude prices. One energy expert says prices could briefly fall below $60 a barrel if China delays replenishing its strategic oil reserves, though he expects Beijing to step in if prices drop too far.
Jindal Stainless appoints former Adani Energy executive Kunjal Mehta as CFO
Jindal Stainless, India's leading stainless steel maker, has appointed Kunjal Mehta, formerly of Adani Energy Solutions, as its new Chief Financial Officer, effective June 25. Mehta, a seasoned finance professional with extensive experience in corporate finance and value creation, is expected to bolster the company's financial strength and growth. Jindal Stainless is currently expanding its production capacity and global reach.
TPG acquires Aseem Infrastructure from NIIF with GIC, ICICI backing
Global private equity firm TPG is acquiring a full stake in Aseem Infrastructure Finance, a leading sustainable infrastructure debt financier. Partnering with Singapore's GIC and ICICI Bank, TPG's climate investing platform will take over the company, which has funded significant renewable energy and power transmission projects. Aseem Infrastructure, founded by NIIF, has disbursed over Rs 40,000 crore in loans, contributing to substantial greenhouse gas emission reductions.
TPG, GIC and ICICI Bank acquire Aseem Infrastructure Finance for ₹5,000 crore
Aseem is a leading sustainable infrastructure debt financier with a core focus on renewable energy, power transmission and other infrastructure assets in India. It was established in 2020 by the National Investment and Infrastructure Fund, India’s sovereign-anchored alternative asset manager.
Top Gainers & Losers on 6 July: Swan Corp, Zen Tech, HFCL, HDFC Bank, Thermax, Hitachi Energy among top gainers - livemint.com
Top Gainers & Losers on 6 July: Swan Corp, Zen Tech, HFCL, HDFC Bank, Thermax, Hitachi Energy among top gainerslivemint.com
Top Gainers & Losers on 6 July: Swan Corp, Zen Tech, HFCL, HDFC Bank, Thermax, Hitachi Energy among top gainers
Indian stock markets rose on July 6, with benchmark indices gaining over 0.60%. The Nifty 50 closed 0.66% higher at 24,420, while Sensex advanced 0.67% to 78,236. HDFC Bank and Axis Bank drove gains, while Nifty Realty led sectoral increases with a 2% rise.
Indian Oil, HPCL buy 7 million barrels of crude via tenders, trade sources say
Indian refiners Indian Oil Corp and Hindustan Petroleum Corp have collectively secured approximately 7 million barrels of crude oil through recent tenders. Indian Oil acquired various grades from Angola and Nigeria, while HPCL purchased Brazilian Tupi crude. These significant purchases are slated for delivery between August and September, bolstering India's energy reserves.
Sunsure Energy secures Rs 262 cr project financing from FMO, Axis Bank
Sunsure Energy has secured a significant Rs 262 crore financing for its 75 MWp open-access solar project in Tamil Nadu. Dutch development bank FMO is leading the funding, with Axis Bank contributing approximately Rs 71 crore. This marks FMO's debut in India's Group Captive C&I renewable energy sector, aiming to power commercial and industrial clients with clean energy.
Nomura names M&M, Hyundai, Ather Energy as top picks after June auto sales; says EV penetration at inflection point
Nomura remains positive on India's automobile sector after strong June sales, saying electric vehicle adoption has reached an inflection point. The brokerage expects continued momentum driven by new launches and improving charging infrastructure, while naming Mahindra & Mahindra, Hyundai Motor India, Ather Energy and Sona BLW among its top picks.
Our AI knew it: Up 13% premarket, this energy stock is now up +57% - in.investing.com
Our AI knew it: Up 13% premarket, this energy stock is now up +57%in.investing.com
GK Energy shares rise 4% on securing ₹236 crore MSEDCL solar pump order
Following the latest contract, GK Energy said its cumulative order book from MSEDCL has risen to ₹637.83 crore. The company said the project is scheduled to be executed within 60 days from the issuance of the work order or Notice to Proceed (NTP).