Tag: electricity

Adani Power's share price soared 5 percent to a new 52-week high of Rs 419 apiece on Friday, taking its rally so far in 2022 to 307 percent. Adani Power surpassed the state-owned electric utility company NTPC in terms of market capitalization (market-cap) after a sharp rally in the share price of Gautam Adani-led Group company. Adani Power stood at 35th position with an m-cap of Rs 160,4291 crore, while NTPC stood at 37th spot in the overall ranking with a market cap of Rs 154,710 crore, BSE data shows. Adani Power also surpassed automobile company Mahindra & Mahindra (M&M), which has an m-cap of Rs 156,394 crore, data shows. Adani Power's share price has risen over 40 percent in the last month. Adani Power reported a 17-fold jump in its consolidated profit after tax (PAT) at Rs 4,780 crore in the June quarter (Q1FY23). The Adani Group electric utility company had posted PAT of Rs 278 crore in Q1FY22. Read more

Soon, in India, anyone buy can sell or trade electricity – both conventional (coal, gas hydro) and renewable energy (solar, wind). The over-the-counter (OTC) market allows buyers and sellers to directly transact electricity, and negotiate the price and contract. To facilitate this trade Indian electricity market will have a new platform. Apex regulator Central Electricity Regulatory Commission (CERC) last week issued the guidelines for setting up an OTC platform in India, which the sector executives said would be the world’s first regulated OTC platform. The CERC in a 2017 order identified the need for a regulatory framework in India to help electricity consumers buy directly. Read more

Indian Energy Exchange (IEX) gained 20% to a record high of Rs 956.15 on Tuesday, after the energy trading platform said it would consider a bonus issue of shares on october 21st.Increased economic activity after the second wave of the coronavirus has resulted in a shortage in coal supply and driven up electricity demand, proving a boon for New Delhi-based IEX which controls 95% of the power exchange market.The company board will consider and approve the unaudited financial results for the quarter and half year ended September 30, 2021 on Thursday. IEX is the premier electricity exchange in India, which facilitates electricity trade. IEX commands a market share of around 95% in the power exchange market. The stock has surged surged around 160% in the past six months whereas it has delivered multibagger return of over 315% in 2021 (year-to-date) so far. Read more