Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Solarium Green Energy bags contract worth Rs 186.52 cr
For a 50 MW solar power project in Maharashtra
Solarium Green Energy bags Rs 187-cr solar EPC order in Maharashtra
Solarium Green Energy jumped 6% to Rs 190 after the company secured a solar EPC order worth Rs 186.53 crore for a 50 MW AC/65 MW DC solar photovoltaic (PV) power project in Maharashtra.
NLC India inks MoU with Indian Oil Corporation
NLC India has signed a memorandum of understanding (MoU) with Indian Oil Corporation (IOCL) for the formation of a joint venture for the establishment of renewable energy power projects in Tamil Nadu.
India nears 50% domestic coal use in import-based power plants, sources say
India is significantly boosting the use of domestic coal at power plants previously reliant on imports, aiming to slash costly overseas purchases. Over 50% of capacity at these plants is now running on local fuel, with trials expanding this further. This shift is enabled by increased renewable energy generation freeing up domestic supplies and plant modifications to handle local coal's higher ash content.
Ircon International JV secures contract worth Rs 763 cr
The scope of the work includes Design, Engineering, Manufacture, Assembly, Inspection, Testing at Manufacturer's Works before Dispatch, Packing, Supply, Delivery at Site, Including Insurance during Transit, Subsequent Storage at delivery location(s), Erection, Testing and Commissioning of Under Ground Power Cable Network (HT & LT), Smart Grid Applications including Supervisory Control and Data Acquisition (SCADA), Advanced Distribution Management System (ADMS), Outage Management System (OMS), GIS Mapping & integration, Under Ground OFC Communication System by laying of Optical Fiber Cable (OFC), Integration with third party IT application softwares & hardwares (such as Billing, ERP, & CIS) along with Underground Power Cable and establishment of Smart Grid Control Centre (Main & Backup) with Distribution Network Automation (DNA) including facility management and O&M of system in Agartala Municipality Area, Tripura (Package-A) of Agartala Smart Grid.
IRCON JV bags ₹763 crore Tripura power project; RVNL's Saleem Ahmad to take CMD charge
IRCON's joint venture has secured a ₹763 crore smart grid project in Tripura, with the company's share at ₹198 crore. Separately, the Railways Ministry has named RVNL chief Saleem Ahmad as IRCON's interim CMD from July.
Jefferies initiates coverage on GE Vernova, bullish on 2 other power transmission stocks
Jefferies has initiated coverage on GE Vernova T&D India with a Hold rating and a target price of ₹6,000, citing limited upside despite strong sector tailwinds. The brokerage remains bullish on Hitachi Energy India and Siemens Energy India, reiterating Buy ratings with target prices of ₹43,145 and ₹4,500, respectively.
Power Mech Projects shares gain 5% as company secures ₹1,009 crore JSW Thermal Energy contract
Power Mech Projects shares rose 5% after securing a ₹1,008.90 crore order from JSW Thermal Energy for civil and structural works in West Bengal. The contract, to be completed in 36 months, enhances the company’s order book amid a series of recent large contract wins.
Resonia wins Telangana transmission project to boost renewable energy connectivity
Resonia, formerly Sterlite Power's transmission arm, has secured a significant project in Telangana from Power Finance Corporation. This initiative aims to bolster power transmission links between Andhra Pradesh and Telangana, improving grid flexibility and facilitating the integration of renewable energy from the Kurnool REZ. The project involves establishing a new substation and enhancing existing infrastructure to support this crucial connectivity.
Power Mech projects gains after bagging Rs 1,009-cr order from JSW Thermal Energy
Power Mech Projects rallied 3.29% to Rs 2,934.05 after the company announced that it had secured a contract worth Rs 1,008.90 crore from JSW Thermal Energy.
Power Mech Projects jumps 4% as company bags Rs 1,009 crore JSW Thermal Energy contract
Power Mech Projects shares rose after the company secured a Rs 1,008.90 crore order from JSW Thermal Energy for civil and structural works at a thermal power project in Salboni, West Bengal. The order strengthens revenue visibility over the next three years and reinforces the company’s position in the power infrastructure and EPC space.
GVK Power & Infrastructure Ltd Falls 1.77%
GVK Power & Infrastructure Ltd has lost 12.06% over last one month compared to 0.14% gain in BSE Utilities index and 2.31% rise in the SENSEX