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Adani power share rallies 300 percent in 8 months

Adani power share rallies 300 percent in 8 months

Friday, August 19, 2022

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

MARKET UPDATE:Sensex at 59,180, down 284 points while Nifty at 18,670, lower by 86 points

MARKET UPDATE:Sensex at 59,180, down 284 points while Nifty at 18,670, lower by 86 points

Friday, January 21, 2022

The Indian benchmark indices today(21 January 2022) made a sharp recovery in early morning trade after starting the session with heavy losses. The BSE Sensex was now at 59,180, down 284 points. This was nearly 500 points higher from its day's low. The NSE Nifty, on the other hand, was at 18,670, lower by 86 points. The indices were seen recouping losses on the back of buying in FMCG major HUL(up 2 percent), HDFC, TCS, ITC (up nearly 0,5 percent each), and PowerGrid (up 1.6 percent). On the Nifty, Hindalco, Bajaj Auto, Tata Consumer Hero MotoCorp were the additional gainers. Meanwhile, the top losers were Bajaj finserv, Tech M Coal India, Divis Labs, Dr. Reddy's, Adani Ports, Axis Bank, Kotak Bank, and Shree Cement. Sectorally, auto, and FMCG were the only gainers on the Nifty wherein the latter was supported by gains in HUL and Asian Paints on the back of their strong Q3 results.

MARKET UPDATE:BSE Sensex 115 points higher at 61,265, while the NSE Nifty 37 points up at 18,250

MARKET UPDATE:BSE Sensex 115 points higher at 61,265, while the NSE Nifty 37 points up at 18,250

Thursday, January 13, 2022

In the Indian markets, benchmark indices today (13th January 2021)steadily held opening gains in early morning trade. The BSE Sensex was 115 points higher at 61,265, while the NSE Nifty was 37 points up at 18,250. On the Sensex, Tata Steel and PowerGrid were the leading gainers, up 3 percent each, followed by Sun Pharma, NTPC, ITC, L&T, and RIL. On the flip side, Wipro was the biggest loser, down 5 percent, after the company fell short of market expectation, as it’s net profit was up 1.3 percent on a quarter on quarter (QoQ) basis at Rs 2,969 crore for the third quarter ended December 2021 (Q3FY22). READ HERE. HDFC Bank, HCL Tech, M&M, Titan, Asian Paints, Axis Bank, and IndusInd Bank were the other notable losers. Read more

Indian Energy Exchange gains 20 percent on bonus share plan

Indian Energy Exchange gains 20 percent on bonus share plan

Tuesday, October 19, 2021

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

Rising prices of coal to effect on steel companies' September qtr earnings

Rising prices of coal to effect on steel companies' September qtr earnings

Tuesday, October 12, 2021

Rising prices of international coal – both coking and thermal - used in the making of ferrous and non-ferrous metals, respectively, are expected to have an impact on margins of metals companies in July-September quarter (Q2) as steel companies may see margins getting eroded, while the base firms could stand to benefit, said experts. Since metals is a cyclical sector, a year-on-year comparison for earnings would give a better picture. However, due to the ongoing pandemic and last year’s low base, sequential comparison has been taken in consideration to show a clearer picture on pricing and volume trend. Read more

Weakening rupee, rising crude oil and gas prices and impending power shortage dragged indices;Sensex tanks 555 pts

Weakening rupee, rising crude oil and gas prices and impending power shortage dragged indices;Sensex tanks 555 pts

Wednesday, October 6, 2021

The weakening rupee, rising crude oil and gas prices and impending power shortage that has the potential to slow down economic recovery weighed on domestic benchmark indices on Wednesday. All quarters of the market saw selling, led by metal and realty names, wiping off Rs 2.78 lakh crore of equity wealth reflected by the total market cap of BSE-listed companies. The 30-share pack Sensex declined 555.15 points or 0.93 percent to close at 59,189.73. The index closed down nearly 800 points from the day’s high. Its broader peer NSE Nifty dropped 176.30 points or 0.99 percent to 17,646. “Spike in crude prices is spooking the Indian market while inflation is affecting US bond yields. RBI commenced its three-day MPC meeting in which the central bank is expected to keep rates unchanged, however, it is likely to announce measures to gradually pump out liquidity from the economy," said Vinod Nair, Head of Research at Geojit Financial Services.

Tatapower hits 52 week high on partnership with TVS Motor

Tatapower hits 52 week high on partnership with TVS Motor

Tuesday, October 5, 2021

Shares of tata power gained 6.5 percent and hit a 52 week of Rs 179.65 on the back of forming a partnership with TVS Motor Company for the implementation of electric vehicle charging infrastructure and deploy solar power technologies at TVS Motor locations. The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India. This will also give the customers of TVS iQube Electric access to the widespread charging network by Tata Power through the TVS Motor customer connect app and Tata Power EZ Charge app across India. The partnership aims to create a regular AC charging network and a DC fast-charging network for electric two-wheelers. This partnership will further help drive EV adoption in the country among two-wheeler customers who aspire to take a step in going electric. The two companies will also explore opportunities to use solar energy to power select TVS Motor locations. Read more

MARKET UPDATE:Sensex touched a low of 59,149, was down around 290 points while Nifty recovered from a low of 17,608 and down 76-odd points at 17,673

MARKET UPDATE:Sensex touched a low of 59,149, was down around 290 points while Nifty recovered from a low of 17,608 and down 76-odd points at 17,673

Wednesday, September 29, 2021

The Indian benchmark indices have recovered partially from the early morning lows on the back of selective buying interest in pharma, realty, and energy shares. The Sensex, which, touched a low of 59,149, was down around 290 points at 59,376 in mid-morning deals today(29th Sept.2021). The NSE Nifty recovered from a low of 17,608 and was down 76-odd points at 17,673. Lupin and Dr.Reddy's are the major gainers up 3.1 percent and 2.5 percent respectively. Sun Pharma, Torrent Pharma, and Biocon are the other prominent gainers on the NSE. The Power index has logged smart gains for the second straight day on the back of follow-up buying in power majors - NTPC and PowerGrid Corporation. Tata Power, CESC, and Adani Power too have logged strong gains.

MARKET UPDATE:Sensex at 52,275 levels, down 53 points and Nifty at 15,740-mark, down 11.5 points

MARKET UPDATE:Sensex at 52,275 levels, down 53 points and Nifty at 15,740-mark, down 11.5 points

Wednesday, June 9, 2021

Indian Benchmark indices traded range-bound around flat line today(9th June 2021). However, broader markets scaled fresh record peaks as stock-specific action dominated the equity markets today. The BSE-barometer of 30 shares ended at 52,275 levels, down 53 points or 0.10 percent while the Nifty50 shut shop at 15,740-mark, down 11.5 points or 0.07 percent. Tata Motors, Tech M, Bharti Airtel, Indian Oil Corporation, HCL Tech, and Infosys were the top gainers on the indices. Hindalco, Tata Steel, JSW Steel, Kotak Bank, HDFC, and SBI, meanwhile, were the top laggards. In the broader market space, the BSE MidCap index hit a record peak for the fifth consecutive day, at 22,822.6 levels, and ended the day at 22,769.5 levels, up 0.36 percent. The SmallCap counterpart, on the other hand, closed 0.9 percent higher at 24,827 levels after hitting a new peak of 24,868 earlier today. Read more

BSE Power index hits over 10-year high; profit booking advised by Analysts

BSE Power index hits over 10-year high; profit booking advised by Analysts

Tuesday, June 8, 2021

Shares of power generation and distribution companies have rewarded investors handsomely over the past two months with returns of Reliance Infrastructure, JSW Energy, Adani Power, Power Grid Corporation, NTPC, Tata Power, and Torrent Power ranging between 8 percent and over 90 percent. In comparison, the frontline Sensex index has advanced around 6 percent while the BSE Power Index added 17 percent during the period, ACE Equity data show. On Tuesday, the S&P BSE Power index hit a 10-year high of 3,008, a level last seen in January 2011, in intra-day trade. Among individual stocks, Adani Power hit a record high of Rs 151, soaring 19 percent in intra-day trade on Tuesday, on the back of heavy volumes while Torrent Power and Tata Power gained over 4 percent each on the BSE. In comparison, the benchmark S&P BSE Sensex was down 0.17 percent. Read more

BHEL gains 7% after it has emerged as the lowest bidder

BHEL gains 7% after it has emerged as the lowest bidder

Thursday, March 18, 2021

Shares of Bharat Heavy Electricals Limited (BHEL) rallied 7 per cent to Rs 53.80 on the BSE in intra-day trade on Thursday after the company said it has emerged as the lowest bidder for supply of equipment for 6x700 MW nuclear power projects of Nuclear Power Corporation of India for Rs 10,800 crore. With this tender, BHEL has retained its market leadership position of being the sole Indian supplier of nuclear steam turbines. "In an open competitive bidding process, Bharat Heavy Electricals has emerged as the lowest bidder (Rs 10,800 crore) for the fleet mode tender floated by Nuclear Power Corporation of India Ltd (NPCIL) for the 6x700 MW Turbine Island Package Projects," the company said in a BSE filing. PHWRs (Pressurised Heavy Water Reactors) are the mainstay of the Indian Nuclear Power Programme and 12 of the 18 operating PHWRs of NPCIL are equipped with BHEL-supplied steam turbine generator sets (10x220 MWe + 2x540 MWe) with the balance from Canada and Ukraine. Read more

Tata Power shares rally 9 per cent after Q1 result and on merger proposal

Tata Power shares rally 9 per cent after Q1 result and on merger proposal

Thursday, August 13, 2020

Tata Power shares surged as much as 9 per cent to Rs 57.9 on the BSE on Thursday after the firm reported a 10 per cent on-year rise in consolidated net profit at Rs 268 crore in the April-June quarter on the back of reduced expenses. The company had posted a net profit of Rs 243 crore in the corresponding quarter of the preceding year. Revenue from operations fell 16.9 per cent YoY to Rs 6,453 crore in the first quarter of FY21Its consolidated profit before tax (PBT) and exceptional items for the June quarter dipped 31 per cent to Rs 480 crore, as against Rs 605 crore PBT posted in Q1FY20.In a span of three months, Tata Power share price has rallied 114 per cent from Rs 27 apiece to Rs 57.85. The company also announced its three wholly-owned subsidiaries, Coastal Gujarat Power Ltd (CGPL), Tata Power Solar Systems (TPSSL) and Af-Taab Investment Company (Af-Taab) are proposed to be merged with the parent company for greater synergies in the financing, compliance, and oversight. Read more

Power stocks rally on Rs 90,000 crore liquidity push for discoms

Power stocks rally on Rs 90,000 crore liquidity push for discoms

Thursday, May 14, 2020

Shares of electric utilities and power finance companies gained up to 13 per cent on the BSE on Thursday after Finance Minister Nirmala Sitharaman announced a special liquidity infusion scheme for the ailing power distribution sector, through which it is looking to infuse around Rs 90,000 crore in the distribution companies (discoms) to help them fight the current financial stress. Power Finance Corporation and Rural Electrification Corporation will infuse liquidity in the discoms to the extent of Rs 90,000 crore in two equal instalments. This amount will be used by discoms to pay their dues to transmission and generation firms,” the FM said. Adani Power, Tata Power, Torrent Power, CESC, Adani Transmission and Indian Energy Exchange (IEX) were up between 3 per cent and 13 per cent. In today’s trade REC share price fell 2.33 per cent to Rs 98.15, while Power Finance Corporation (PFC) shares dropped 2.17 per cent to Rs 87,65 apiece.

Tata Power share price jumps above 10% on bagging Rs 1,730-crore NTPC project

Tata Power share price jumps above 10% on bagging Rs 1,730-crore NTPC project

Tuesday, April 7, 2020

The share price of Tata Power Company jumped 10 per cent intraday on April 7 after the company received a Rs 1,730-crore project from NTPC. It has got a letter of award to build a 300-megawatt plant for state-owned utility major NTPC at an all-inclusive price of Rs 1,730 crore. In September 2019, post reverse auction, the company had received LoA to develop a 105 MWp Floating Solar Project worth approximately Rs343cr including 3 years O&M. The commercial operation date (COD) for this grid-connected solar photovoltaic project is September 2021. With this project, the order book of Tata Power Solar stands at Rs 8,541 crore, including external and internal orders. The stock, which slipped 28 per cent in the last month, was quoting at Rs 33.65, up11.61 per cent.

Tag: power

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