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Power Grid of India board okays raising borrowing limit to Rs 2.2 lakh cr
The board of Power Grid Corporation has approved a substantial raise in its borrowing limit to Rs 2.2 lakh crore, up from Rs 1.8 lakh crore, subject to shareholder consent. Furthermore, the company intends to obtain USD 500 million in foreign currency resources via External Commercial Borrowings. The board has also sanctioned an investment of Rs 772.
Power Grid of India board okays raising borrowing limit to Rs 2.2 lakh crore
Power Grid Corporation's board has greenlit a significant increase in its borrowing limit to Rs 2.2 lakh crore, pending shareholder approval. Additionally, the company plans to secure $500 million in foreign currency funds via External Commercial Borrowings. An investment of Rs 772.65 crore has also been approved for upgrading a key transmission line, expected to be completed within 30 months.
Anti-dumping duty on electrical steel may push transformer costs, impact grid expansion: GTRI
A potential anti-dumping duty on crucial cold-rolled grain-oriented electrical steel (CRGO) imports could significantly hike transformer manufacturing costs and impede India's ambitious power grid expansion plans. With domestic production meeting less than 10% of demand, imposing duties might raise prices without reducing import reliance, impacting vital infrastructure development and renewable energy integration. The probe follows a complaint by JSW JFE Electrical Steel Nashik Pvt Ltd.
Cummins India to invest more in green tech
Cummins India is aggressively investing in electric, fuel blending, and hydrogen technologies to secure growth beyond 2030 and counter rising Chinese competition. The company, a leader in engines and power generators, is also strengthening its supply chains against geopolitical risks. Managing Director Shveta Arya highlighted the importance of reliability and customer relationships in a dynamic market, while also eyeing opportunities in India's burgeoning data center sector.
How Kunal Shah ‘came in as an angel’ for Intervue founder Rahul Arora in 2021 — A look at the power of ‘cold email’
Entrepreneur Rahul Arora shared how he secured seed funding from Kunal Shah through a cold email. Intervue founder emphasized that waiting for introductions isn't necessary; proactive outreach can bring opportunities and beneficial partnerships.
Om Power Transmission bags Rs 19-cr transmission line order from SAEL Industries
Om Power Transmission has secured a Letter of Award (LoA) from SAEL Industries for the supply, erection, stringing, testing, and commissioning of a single-circuit 220 kV transmission line, valued at Rs 18.50 crore.
Refex Industries bags Rs 21-cr ash transportation order
Refex Industries announced that it has secured an order worth approximately Rs 21.15 crore from a major power producer, a Maharatna Central Public Sector Enterprise (CPSE).
Tata Power Mundra Operations Extension Approved | Ola Electric Achieves Major Battery Milestone | Top Buzzing Stocks Today - Equitymaster
Tata Power Mundra Operations Extension Approved | Ola Electric Achieves Major Battery Milestone | Top Buzzing Stocks TodayEquitymaster
PFC, REC seek to help centre retain majority at low cost
Power Finance Corp and REC are finalizing a merger plan to help the government maintain its majority stake cost-effectively. Two primary options are being considered: issuing preference shares at ₹10 each, requiring an estimated ₹800 crore outlay, or subscribing to non-tradable bonds worth around ₹24,000 crore. Advisors favor the preference share route, deeming it less expensive than the recurring interest costs of bonds.
PFC, REC seek to help centre retain majority at low cost
Power Finance Corp and REC are finalizing a merger plan to help the government maintain its majority stake cost-effectively. Two primary options are being considered: issuing preference shares at ₹10 each, requiring an estimated ₹800 crore outlay, or subscribing to non-tradable bonds worth around ₹24,000 crore. Advisors favor the preference share route, deeming it less expensive than the recurring interest costs of bonds.
Torrent Power Completes Rs 3,632-Crore Acquisition Of L&T's Nabha Power
The deal adds Nabha Power's 1,400 MW supercritical thermal plant in Punjab to Torrent Power's generation assets.
Sensex closes 109 points higher, Nifty above 24,050; IndiGo, M&M among top gainers
Indian stock markets closed with modest gains on Sensex monthly expiry day, as both indices erased significant intraday advances. Sensex added 109 points to 77,100.47, and Nifty 50 climbed 34 points to 24,056. Strong performances from IndiGo, M&M, and Maruti Suzuki bolstered the gains, while Power Grid shares saw notable declines. The broader market, however, dipped into the red.