India

Skipper Limited has reported a new order inflow of Rs 7.65 billion in the first quarter of FY25, driven by significant contracts from Power Grid Corporation of India Limited (PGCIL) and other state utilities, as well as projects in the Middle East and Africa. The company’s order book as of June 30, 2024, totals Rs 58.44 billion, with 86 per cent coming from domestic sources. The portfolio includes a significant share from the T&D sector,…

Torrent Power Limited has concluded the sale of 100 per cent equity shares of Torrent Electricals Private Limited (TEPL) to Torrent Investments Private Limited (TIPL), a holding company, for a consideration of Rs 850 million.  The sale involves TEPL, which contributed Rs 6.51 billion in revenue, representing 2.4 per cent of Torrent Power’s total revenue, and had a net worth of Rs 153 million, constituting 0.12 per cent of the total net worth. 

Torrent Power Limited has announced its financial results for the quarter ending June 30, 2024.  Let’s have a look at the key highlights. Financial Performance Revenue Growth: The company’s revenue from operations surged to Rs 71.93 billion, an increase of 50.3 per cent from Rs 47.87 billion in the prior quarter and 33.6 per cent from Rs 53.83 billion in the same quarter last year.   Profit Metrics: Profit before tax reached Rs 12.73 billion, nearly…

NTPC Limited has released its key performance highlights and unaudited financial results for the quarter ending June 30, 2024. Let’s have a look at the key performance highlights. Installed and Commercial Capacity As of June 30, 2024, NTPC’s installed capacity reached 76,048 megawatts (MW), an increase of 3,024 MW from June 2023. Similarly, NTPC’s standalone installed capacity rose to 59,168 MW, an uptick of 2,130 MW. The commercial capacity stood at 76,048 MW—an increase of…

The government of Jammu and Kashmir has approved a Rs 4 billion rooftop solar project to be installed on government buildings across the region. This project, to be implemented by the Jammu and Kashmir Energy Development Agency (JKEDA), is part of the Union Territory’s efforts to increase renewable energy usage and reduce carbon emissions. The project aims to install 270 MW of solar power plants, reducing carbon emissions by approximately 8.3 million tons over 25…

Coal India Limited (CIL) is advancing 119 projects with a sanctioned capital of Rs 1.33 trillion to enhance coal production and meet the growing energy demand.  The projects are in various stages of implementation and are expected to significantly augment CIL’s output. In the financial year 2023-24, CIL aims to achieve a production target of 780 million tonnes, an increase from the previous year’s 703 million tonnes. This target aligns with India’s objective of reducing…

Ola Electric Mobility is set to launch its initial public offering (IPO) on August 2, 2024, aiming to raise Rs 55 billion. The IPO will consist of a fresh issue of shares worth Rs 30 billion and an offer-for-sale (OFS) of Rs 25 billion by existing shareholders. The price band for the IPO has been set at Rs 200-215 per share. Ola Electric, a subsidiary of ANI Technologies (the parent company of Ola Cabs), is…

REC Limited’s market capitalization surged by 219 per cent in the first quarter, reaching Rs 600 billion. Additionally, REC’s net profit saw an increase of Rs 3.44 billion, resulting in a total profit of Rs 32.23 billion for the quarter. This performance is attributed to higher income from operations, reduced finance costs, and improved asset quality. REC’s income from operations rose to Rs 100.71 billion, an 11 per cent increase compared to the previous year….

The Economic Survey 2024 reveals significant strides in India’s green transition, aiming for 500 GW of renewable energy capacity by 2030. As of March 31, 2024, India’s renewable energy installed capacity has reached 190.57 GW, 43.12 per cent of the nation’s total power generation capacity. The survey highlights advancements in India’s power transmission infrastructure, which now supports the transfer of 118,740 MW across a network of 485,544 ckm with a transformation capacity of 1,251,080 MVA….

The Ministry of Science and Technology announced the discovery of 1,600 tonnes lithium reserves in Karnataka’s Mandya and Yadgiri districts. The Atomic Minerals Directorate for Exploration and Research (AMD) located these resources in the Marlagalla area of Mandya through initial surveys and subsurface exploration. AMD is exploring other potential lithium sources in India, including Korba district in Chhattisgarh, mica belts in Rajasthan, Bihar, and Andhra Pradesh, and pegmatite belts in Odisha, Chhattisgarh, and Karnataka. Lithium,…