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Prozeal Plans To Launch Rs 700-Crore IPO In Q2; Bags Rs 2,000-Crore Contract From ONGC
This project will further strengthen Prozeal's position in India's renewable energy ecosystem.
China stocks dip as Middle East tensions pressure markets
Chinas large oil reserves and growing renewable energy sector have softened the blow from higher energy costs, but prolonged price pressures could hurt company profits and household spending. On the corporate side, Eoptolink Technology plunged nearly 32% after announcing plans to list in Hong Kong. Other big names also slipped, including China Mobile (-1.34%), Foxconn Industrial Internet (-2.26%), and Zijin Mining Group (-1.34%).
PM Modi-led govt's 12 years in power are 'transformational for industry': Maruti Suzuki chairman
Maruti Suzuki Chairman R C Bhargava lauded Prime Minister Narendra Modi's economic policies. He stated these policies have transformed Indian industry over the past 12 years. Vehicle exports and car manufacturing have seen significant growth. Rural sales also increased substantially. Infrastructure development reduced logistics costs. India is becoming a preferred global supply chain destination.
Fueling Demand: Inside India’s ethanol mobility revolution in reverse
India is launching an ambitious green mobility initiative. The country is establishing E100 fuel stations nationwide before flex-fuel vehicles become common. This strategy aims to reduce oil imports and boost the rural economy. Major automakers are now introducing flex-fuel cars and motorcycles. This rapid development marks a significant shift in India's energy landscape.
Macquarie bets on $85 billion grid capex opportunity; Check out its top picks
Macquarie said India's power sector is entering a multi-year investment cycle as the country expands its transmission infrastructure to accommodate growing electricity consumption and renewable energy capacity.
INR extends downside as dollar firms and oil renews surge
The Indian rupee slipped back against the dollar in opening trades on Thursday as dollar index renewed gains and crude oil prices took flight. The dollar index traded around 100 on Thursday, lingering near its highest levels in two months amid fresh US attacks over Iran and as US consumer inflation accelerated in May to its fastest pace in more than three years due to soaring energy costs. INR opened at Rs 95.55 per dollar and slipped further to a low of 95.64 so far during the day. Yesterday, rupee was largely flat and settled almost unchanged at Rs 95.25 per dollar. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Local equities are likely to open on a cautious note on Thursday as concerns mounted about a re-escalation of the Middle East conflict and a stronger U.S. inflation print reinforced expectations that borrowing costs would remain higher for longer. On Wednesday, Indian shares gave up early gains to end little .
Japan's Chubu Electric set to buy $150 million stake in Continuum Green
Japanese power giant Chubu Electric is set to invest around $150 million in Indian renewable energy firm Continuum Green Energy. This deal will give Chubu a significant stake in Continuum, a company focused on wind, solar, and hybrid power for businesses. The acquisition highlights Chubu's growing interest in India's clean energy sector.
Power finance cos turn to global markets for cheaper funds
Indian power and renewable energy firms are looking abroad for loans. The Reserve Bank of India's new dollar-rupee swap facility has made foreign currency borrowing cheaper. Companies like REC and PFC are planning to raise significant funds through external commercial borrowings. This move is expected to lower borrowing costs for these public sector undertakings.
UltraTech Cement buys stake in renewable energy firm to cut power costs
UltraTech Cement Ltd has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement to acquire a 13.99% equity stake in FPEL Services Pvt. Ltd., a company engaged in the generation and transmission of renewable energy through wind power.
INR pares initial losses and settles largely unchanged
The Indian rupee was largely flat and settled almost unchanged at Rs 95.43 per dollar, down just 2 paise on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Indian shares gave up early gains to end little changed on Wednesday as investors weighed rising U.S.-Iran tensions and awaited key U.S. inflation data later in the day for fresh insights into market expectations for future interest rates in the face of rising energy-driven inflation risks. The BSE Sensex ended the day at 73,983.18, up by 64.42 points (0.09%), while the NSE Nifty 50 settled at 23,214.95, slipping by 27.15 points (-0.12%).
BSNL, IIT Kanpur sign MoU for next-generation telecom technologies
Bharat Sanchar Nigam Limited (BSNL) and the Indian Institute of Technology (IIT) Kanpur have signed a Memorandum of Understanding (MoU) for joint research, development, testing, deployment and commercialisation of next-generation telecom technologies, BSNL Chairman and Managing Director A. Robert Jerard Ravi said on Wednesday.
Can rising debt dampen Adani Green’s renewables push?
The installed base Adani Green Energy's renewable capacity is 19.3 GW, and analysts have pencilled in 34%-plus Ebitda growth through FY28.