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Torrent Power Q2 FY26: Profit Surges ~50%, Powered by Strong Generation and Lower Finance Costs
Equities, Markets, Result Updates - December 6, 2025

Torrent Power Q2 FY26: Profit Surges ~50%, Powered by Strong Generation and Lower Finance Costs

Torrent Power Q2 FY26: Profit Surges ~50%, Powered by Strong Generation and Lower Finance Costs

Torrent Power delivered a robust quarter, driven by better generation earnings and lower financial costs. Consolidated revenue rose nearly 10% YoY and net profit jumped about 50%. Generation and merchant power sales from its gas-based and other power plants boosted income, while stable operations in distribution supported underlying stability. Overall, the quarter reflects strong execution and improving financial health.

*Key Highlights*
* Consolidated Revenue from operations: ₹ 7,876 crore in Q2 FY26 (vs ₹ 7,176 crore in Q2 FY25), +9.8% YoY
* Consolidated Net Profit (PAT): ₹ 724 crore in Q2 FY26 (vs ₹ 481 crore in Q2 FY25), +50.5% YoY
* Generation/ Merchant power sales contribution rose, this was a major factor behind profit jump
* Lower finance cost helped improve bottom-line.

*Revenue & Profit Analysis*
Torrent Power’s top line grew by nearly 10% compared to last year, which suggests stable demand for its electricity generation, distribution, and merchant-sales business.
On the profit side, 50% rise in PAT is impressive, significantly outperforming revenue growth. The main reasons: stronger power generation revenues (especially from merchant sales) and lower finance costs. That shows the company is getting more value from its generation assets and managing its debt-servicing costs effectively.

*Business & Operational Performance*
1. Generation & Merchant Power Sales: This quarter, increased generation from gas-based and other plants and higher merchant sales were key. That contributed substantially to growth in total operating income and PAT.
2. Distribution Business (Power Supply & T&D): Torrent Power continues to have a large distribution footprint (serving multiple cities and regions). While generation drove the jump this quarter, the distribution business provides a stable base and recurring revenue, helping stabilise results over cycles.
3. Renewables & Diversification: The company’s renewable generation and other power-generation lines also contributed to income, supporting overall growth beyond conventional business.

*Strengths and Key Risks to Monitor*
1. Strengths:
* Merchant/ generation sales are high, which boosts margins vs distribution.
* Lower finance cost is benefiting profitability.
* Diversified business mix: generation, distribution and renewables helps absorb fluctuations in any single line.
2. Risks:
* Generation-business profits often depend on fuel costs, merchant-tariff environment and regulatory conditions — any adverse change could hurt margins.
* Distribution business has its own risks (demand patterns, payment receivables, regulatory/tariff pressure).
* As the company grows capacity, depreciation and interest costs may rise, these need to be balanced by sustained utilisation and sales.

*Management Moves & Strategic Signals*
According to recent disclosures, the company is investing to expand generation capacity and continues to explore renewable energy and other long-term projects. The improved performance this quarter reinforces the strategy of balancing generation, merchant sales and stable distribution, giving the company flexibility and income diversification.

*Conclusion*
Torrent Power’s Q2 FY26 results are strong and confidence-boosting. The ~50% jump in profit demonstrates that the company is benefiting from generation assets and effective cost control. Torrent Power is not just a distribution-based utility but a diversified power play with generation, merchant sales, and renewables — which can yield good returns when execution holds. If the company continues to manage fuel costs, maintain high plant utilisation and balance debt repayment with growth, future quarters could deliver further upside.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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RVNL Q2 FY26: Revenue Creeps Up, But Profit and Margins Take a Hit

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Adani Power Q2 FY26: Revenue Edges Up, EBITDA Steady and Profit Down ~11% on Higher Costs & Taxes
Equities, Markets, Result Updates - December 2, 2025

Adani Power Q2 FY26: Revenue Edges Up, EBITDA Steady and Profit Down ~11% on Higher Costs & Taxes

Adani Power Q2 FY26: Revenue Edges Up, EBITDA Steady and Profit Down ~11% on Higher Costs & Taxes

Adani Power delivered a modestly better quarter in terms of topline and stable operations, but bottom-line profit declined owing to higher expenses and tax burden. Electric-power sales volume increased, revenue rose slightly, and EBITDA remained steady, showing core business resilience. However, net profit at ₹ 2,906-2,953 crore declined by about 11% YoY, underlining pressure from cost inflation and depreciation on recent capacity additions.

*Key Highlights*
* Total Revenue: ₹ 14,308 crore in Q2 FY26, up +1.7% YoY (vs ₹ 14,063 crore in Q2 FY25)
* Electric-power sales volume (consumption by customers): 23.7 BU (billion units), up +7.4% YoY (vs 22 BU in Q2 FY25)
* EBITDA: ₹ 6,001 crore in Q2 FY26 (vs ₹ 6,000 crore in Q2 FY25)
* Net Profit (PAT): ₹ 2,906 – 2,953 crore for Q2 FY26, down ~11% YoY (from ~₹ 3,332–3,331.8 crore in Q2 FY25)
* Earnings Per Share (EPS): ₹ 1.53 in Q2 FY26 (from ₹ 1.66 in Q2 FY25)
* New Power Purchase Agreements (PPA) added: 4.5 GW of long-term PPAs under SHAKTI scheme (2,400 MW, Bihar; 1,600 MW, Madhya Pradesh; 570 MW, Karnataka) by Oct 2025
* Total capacity (post-acquisition of Vidarbha Industries Power Ltd under Corporate Insolvency Resolution): 18,150 MW as on Q2 FY26

*Revenue & Profit Analysis*
Revenue grew only marginally (+1.7% YoY), reflecting slightly improved power sales volume. The increase in volume (electricity sold) helped counter the impact of softened merchant tariffs and softer demand under seasonal and weather pressures. EBITDA remained stable at ~₹ 6,001 crore, indicating that operational costs and efficiencies held up despite volatility in fuel and input costs.
However, the bottom line took a hit: net profit fell by ~11%, primarily because of higher depreciation (on new plants and capacity additions) and increased tax expense. This suggests that while operations are stable, the returns on newer capacity are yet to fully overcome cost and depreciation drag.

*Business & Operational Performance*
* Power Sales & Volume: The company reported 23.7 BU of power sales in Q2, a healthy +7.4% YoY growth despite monsoon-related demand softness and a high base quarter. This underscores steady demand from DISCOMs and industrial customers under long-term PPAs.
* PPA Book & Capacity Expansion: Securing 4.5 GW of fresh long-term PPAs under the SHAKTI scheme is a key positive. It improves visibility on future demand and revenue flows. Post the resolution-process acquisition, total generation capacity stands at ~18,150 MW, giving Adani Power a sizeable base for long-term generation and supply.
* Cost & Tariff Environment: Despite lower merchant-tariff realisation and import-coal cost volatility, the company maintained stable EBITDA, implying moderate fuel and input cost control.
* Balance-sheet moves & Consolidation: The quarter saw consolidation: several wholly-owned subsidiaries (e.g. power generation/ fuel management entities) were merged under Adani Power (appointed date April 1, 2025), which may improve administrative efficiency and reduce inter-company overhead.

*Risk Factors to Monitor*
* Tariff and Demand Volatility: Merchant-tariff volatility and demand fluctuations (especially due to monsoon, fuel cost or DISCOM payment delays) can affect realisation.
* High Depreciation & Interest Costs: Recent capacity additions increase depreciation and interest burden, so sustained utilisation and long-term PPAs are key for return on capital.
* Fuel & Coal Price Risk: As a thermal-power generator dependent on coal/imported fuel, global coal price swings or supply disruptions could impact margins.
* Capex & Debt Risk: Further expansions to reach 42 GW target by 2031–32 means more capex and possible debt.

*Management Commentary & Strategic Outlook*
According to the company, the quarter demonstrates Adani Power’s “robust and stable performance” even amid weather-driven demand fluctuations and lower merchant tariffs. The management highlights the securing of fresh long-term PPAs (4.5 GW) under the SHAKTI scheme as a strong signal of future demand stability.
The company is also working on its long-term growth goal: expanding capacity toward ~42 GW by FY 2031–32, backed by acquisition of stressed assets and future project pipelines. The consolidation of subsidiaries under the parent company is meant to simplify operations and reduce overhead.

*Conclusion*
Adani Power’s Q2 FY26 is a steady yet muted quarter. On one hand, power sales volume increased, revenue rose modestly and core operations held up, reflecting resilience in demand and execution. On the other hand, profitability dipped by ~11% because of higher depreciation, taxes and cost pressures, highlighting that scaling up capacity brings fixed-cost burden. In short, Adani Power remains a high-potential but cyclical power play, suitable if you’re comfortable with sectoral & commodity fluctuations, but needs careful monitoring of demand, costs and regulatory/ fuel risks.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Fortis Healthcare Q2 FY26: Strong Hospital & Diagnostics Growth Push Revenue and Profit Up Sharply

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BHEL Posts Strong Q2 FY26 Comeback as Profit Rebounds
Business, Equities, Markets, Result Updates - November 22, 2025

BHEL Posts Strong Q2 FY26 Comeback as Profit Rebounds

BHEL Posts Strong Q2 FY26 Comeback as Profit Rebounds

BHEL staged a clear comeback in Q2 FY26, reporting a return to profitability after a loss in the prior quarter. Revenue, margins and segment performance all improved quarter-on-quarter, driven largely by better execution in the Power segment, lower “other expenses”, and positive working-capital movement in a few areas.

*Headline numbers (quarter ended 30 Sep 2025)*
* Revenue from operations: ₹7,511.80 crore (Q2 FY26) vs ₹5,486.91 crore (Q1 FY26) and ₹6,584.10 crore (Q2 FY25)
* Other income: ₹181.75 crore; Total income: ₹7,693.55 crore
* Total expenses: ₹7,201.54 crore
* Profit before tax (PBT): ₹492.01 crore (positive), after a loss of ₹607.43 crore in Q1 FY26 and vs PBT of ₹131.94 crore in Q2 FY25
* Net profit (PAT): ₹367.67 crore vs loss of ₹454.89 crore in Q1 FY26 and ₹96.67 crore in Q2 FY25
* Basic & diluted EPS (not annualised): ₹1.06 vs (₹1.31) in Q1 FY26 and ₹0.28 in Q2 FY25
* Total assets (30 Sep 2025): ₹72,361.98 crore
* Total liabilities: ₹47,577.63 crore

*What Sparked the Q2 Turnaround*
* Revenue recovered strongly QoQ: Revenue rose ~37% sequentially (₹5,487 crore to ₹7,512 crore). That alone gives headroom for profit recovery, provided costs are controlled.
* Expenses were contained: Total expenses in Q2 were ₹7,201.54 crore, only modestly higher than Q1 in absolute terms, but the combination of higher sales and relatively controlled overheads pushed operating profitability to positive levels.
* Big swing in segment profits, especially Power: The Power segment reported a turnaround in segment profit (profit before tax & finance cost) to ₹593.76 crore in Q2 from a loss of ₹510.00 crore in Q1, that swing is the main operational story behind the group PBT recovery. Industry segment also contributed ₹280.04 crore.
* Finance costs stayed elevated but manageable: Finance cost was ₹195.21 crore in the quarter, material but well covered given the operating profit.

*Breakdown of Key Numbers*
* Cost of materials & services: ₹5,741.38 crore (Q2)
* Change in inventories: Negative ₹527.87 crore (this negative number indicates inventory drawdown that supported revenue recognition)
* Employee benefit expense: ₹1,479.97 crore
* Depreciation & amortisation: ₹75.46 crore
* Other expenses: ₹237.39 crore in Q2, notably much lower than Q1’s ₹675.05 crore (this fall materially helped the profit recovery)

*Balance sheet & cash-flow highlights*
* Total assets: ₹72,361.98 crore
* Total liabilities: ₹47,577.63 crore
* Net assets remain healthy with other equity ~₹24,087.94 crore
* Working capital: For the six months ended 30 Sep 2025, OCF was under pressure, inventories and trade receivables movements created headwinds (inventories movement ~₹2,594.79 crore used, trade receivables ~₹655.30 crore increase)
* Net cash from operating activities for H1 was negative ~₹1,181.95 crore

*Key Concerns to Monitor*
* Receivables & project execution: BHEL’s business is project heavy, slower collections or project delays can bite cash flow even when the P&L shows profit.
* Foreign receivables: Auditor’s emphasis notes reference some overdue overseas amounts (e.g., amounts stuck due to geopolitical issues). It doesn’t change Q2 profit but is a contingent concern.

*Conclusion*
BHEL’s Q2 FY26 shows a real and measurable rebound: strong sequential revenue growth, a large swing in Power segment profitability and a return to positive PAT (₹367.7 crore). That’s the operational comeback. The caveat is cash conversion: the company’s cash flow and working-capital lines need attention (inventory and receivables movements), and certain debtor issues flagged in auditor notes need attention.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Larsen & Toubro Q2 FY26: Robust Order Inflows Drive Double-Digit Revenue Growth

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Sustainable transition and energy security: investment implications for Indian utilities and grid players
Economy, Market News, Markets - October 24, 2025

Sustainable transition and energy security: investment implications for Indian utilities and grid players

Sustainable transition and energy security: investment implications for Indian utilities and grid players

India’s energy landscape is in simultaneous transition and tension: record renewable additions are reshaping the generation mix even as thermal fuel volatility and rising peak demand keep energy security squarely on policy and corporate agendas. For utilities, grid owners and institutional investors (including pension funds), the practical question is how to balance exposure to high-growth renewable cash flows with the capex, liquidity and tariff risks that come from managing a grid still dependent on coal and peaking fuels. This article analyses the current facts, financial metrics to monitor and investment implications as of 24 October 2025.

The facts: capacity, demand and fuel prices
India added a record quantum of renewables in 2025: JMK/industry tallies show about 34.4 GW of renewables (≈29.5 GW solar, ~4.96 GW wind) installed in January–September 2025, taking total renewable capacity to roughly 247 GW and lifting the renewable share of installed capacity to about 48.3% by Q2 2025. At the same time, seasonal demand remains material: peak demand around Diwali 2025 was reported near 180.1 GW (mildly below 2024 peaks), and several states forecast further increases into winter. Thermal fuel costs are elevated versus historical averages — API2 thermal coal futures traded in the low-to-mid $90s/tonne in October 2025 — keeping generation costs and short-term procurement bills sensitive to global coal moves.

Investment-relevant metrics to watch
1. Capacity utilisation/ PLF (for thermal fleets): NTPC reported coal-plant PLFs around 76.3% in H1 (notably above the national average of ~70.6%), showing residual reliance on coal for baseload and system balancing. Declining PLFs squeeze fixed-cost recovery on thermal assets and pressure margins for merchant plants.
2. Transmission and distribution capex: POWERGRID and other transmission players are scaling capex to handle renewables-led flows; PGCIL’s FY26 capex guidance is in the range of ₹28,000 crore (revised budgets and project pipeline), which will factor into regulated asset bases and future tariff determinations. Capital intensity and regulated returns dictate investor returns in transmission.
3. Fuel cost pass-through/ tariff design: Regulators’ willingness to permit fuel cost pass-through (short-term power purchases, coal/gas price adjustments) directly affects utilities’ margin volatility. Recent CERC orders and state filings show active use of pass-through mechanisms for specific cases. Where pass-through is limited, distributors face margin squeeze and higher working-capital needs.
4. Project capex per MW and financing mix: Large renewable developers (for example, Adani Green targeting 5 GW additions in FY26 with ~₹31,000 crore capex guidance) show the scale of investment required; financing costs and availability of low-cost long tenor debt materially change project IRRs. Investors should model project level DSCRs and refinancing risk.

Short- and medium-term tradeoffs for utilities and grids
Fast renewable growth reduces average generation cost over time but increases intra-day volatility and the need for firming capacity (storage, gas peakers, pumped hydro) and stronger transmission (HVDC links, regional reinforcements). That in turn lifts near-term capex needs for transmission owners and raises operating complexity for discoms that must manage higher ramping and scheduling costs. Where coal prices spike or shipping/logistics disrupt supplies, short-term procurement bills rise — often visible in costly short-term power purchases by states (MSEDCL estimated spot procurements under ₹5.5/unit ceiling in some emergency procurements). These dynamics affect working capital, tariff petitions and receivables cycles.

Financial implications and ratios investors should monitor
* Regulated Asset Base (RAB) growth and allowed RoE for transmission: For transmission investors, look at capex-to-RAB conversion timelines and allowed returns; rising capex should ideally be matched with clear tariff schedules.
* PLF and heat-rate trends for thermal producers: A falling PLF with the same fixed costs reduces EBITDA margin and raises leverage ratios (Net Debt / EBITDA). NTPC’s relatively high PLF is a buffer, but merchant and smaller thermal players may see Net Debt/EBITDA stress if utilisation declines.
* Working capital days and receivable turn for discoms: Higher short-term purchases and seasonal peaks can blow up payables/receivables; monitor Days Sales Outstanding (DSO) and state government support lines.
* Project-level IRR sensitivity to interest rate shifts: With sizeable capex (Adani Green’s FY26 capex guidance ~₹31,000 crore/ US$3.6bn), even modest increases in finance costs reduce levered returns; track debt mix (project loans vs. bonds) and hedging.

Allocation ideas for institutional investors (pension funds/ long-term investors)
1. Core regulated transmission exposure: Transmission utilities with clear capex pipelines and tariff visibility (e.g., POWERGRID/PGCIL) can offer low-volatility, regulated cash flows; monitor RAB growth and regulatory lag.
2. Brown-to-green transition plays: Integrated utilities/IPP groups that pair renewables capacity with storage and merchant offtake contracts can capture premium returns but need careful project and counterparty credit analysis. Adani Green and other large renewable platform rollouts illustrate scale but also execution and funding risk.
3. Distressed-to-restructuring opportunities in thermal: If thermal capacity faces structural demand declines, there may be selective value in assets with repowering/retrofitting optionality or in firms with strong balance-sheet flexibility. Model residual value and environmental compliance capex.

Conclusion
India’s clean-energy rollout has reached a scale that changes the investment calculus: renewables now account for nearly half of installed capacity and are driving large-scale capex in generation and transmission. But coal-price volatility, persistent peak demand and distributional stresses mean energy security and grid investment remain critical. Institutional investors should combine regulated-asset exposure (for stability) with selective project-level renewable investments (for yield), while rigorously modelling fuel, tariff and financing sensitivities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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The growing role of private equity in defence: a $150bn rethink for the U.S. Army

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Adani Power Q2 FY26: Revenue Edges Up, EBITDA Steady and Profit Down ~11% on Higher Costs & Taxes
business update, Economy, Equities, Markets - September 15, 2025

Adani Power to Build 2,400-MW Thermal Plant in Bihar

Adani Power to Build 2,400-MW Thermal Plant in Bihar

Adani Power signs a 25-year supply deal with Bihar State Power Generation Company. The $3 billion investment aims to boost energy security, create jobs, and stabilize tariffs.

A Game-Changing Power Project for Bihar
Adani Power Ltd., one of India’s largest private sector power producers, has announced plans to build a 2,400-megawatt (MW) thermal power plant in Bihar’s Pirpainti, Bhagalpur district. The company has signed a 25-year Power Supply Agreement (PSA) with the Bihar State Power Generation Company Ltd. (BSPGCL), securing long-term electricity supply for the state.
This project is set to become one of the largest private sector power investments in Bihar, with an estimated cost of $3 billion (₹26,500 crore). It is expected to accelerate industrial growth, improve household power availability, and support the state’s expanding urban infrastructure.

Project Details and Execution Timeline
• Capacity: 2,400 MW (three units of 800 MW each)
• Technology: Ultra-supercritical, offering higher efficiency and lower emissions compared to conventional coal plants
• Coal Linkage: Allocated under the Government of India’s SHAKTI policy, ensuring stable fuel supply
• Execution Timeframe: Fully operational within 60 months (5 years)
• Employment Impact: 10,000–12,000 jobs during construction and ~3,000 permanent roles post-commissioning
The project will be developed under the Design, Build, Finance, Own, and Operate (DBFOO) model, providing Adani Power complete ownership and operational responsibility throughout the plant’s lifecycle.

Competitive Tariff Advantage
A crucial highlight of this deal is the tariff of ₹6.075 per kWh, the lowest bid under a competitive tender. For Bihar, this translates into affordable electricity supply over the long term, reducing power purchase costs for the state government.
The fixed tariff structure also gives Adani Power predictable revenues and cushions it against volatility in market electricity prices.

Economic and Employment Boost for Bihar
The scale of this project will have significant spillover benefits for Bihar’s economy.
• Direct Impact: Thousands of new jobs during the construction phase and stable long-term employment once operational.
• Indirect Benefits: Boost to local suppliers, contractors, and infrastructure services in Bhagalpur and surrounding areas.
• Industrial Push: Reliable power will attract industries in sectors such as textiles, agro-processing, and manufacturing, helping Bihar reduce its dependence on imports of electricity from other states.
This investment also signals renewed confidence of private investors in Bihar’s power sector reforms.

What It Means for Investors
Revenue Visibility
The 25-year PSA ensures steady and predictable cash flows for Adani Power, strengthening its balance sheet. The tariff security lowers risks from fluctuating energy prices.
Capacity Expansion
With this 2,400-MW addition, Adani Power’s total capacity will expand by nearly 13%, cementing its position as a dominant player in India’s fast-growing energy market.
Government Backing
The coal linkage under the SHAKTI policy guarantees uninterrupted fuel supply, reducing operational risk. Rising electricity demand in Bihar, fueled by urbanization and industrialization, ensures a robust customer base.
Capital-Intensive Risk
The ₹26,500 crore capital outlay comes with significant funding needs. Investors should monitor financing costs, debt load, and execution risks such as construction delays or cost overruns.
ESG Considerations
While the plant will use cleaner ultra-supercritical technology, it remains coal-based. This may pose challenges for ESG-focused investors, as global markets increasingly favor renewable energy projects.

Strategic Importance in India’s Power Landscape
Bihar has historically faced energy shortages and relied on imports from neighboring states. This project will reduce dependence, enhance power security, and improve reliability for millions of households.
At the national level, it underscores India’s balanced energy strategy — where renewable energy continues to expand rapidly, but coal-based ultra-supercritical projects still play a key role in ensuring base-load stability.

Conclusion: Balancing Growth and Responsibility
Adani Power’s decision to build a 2,400-MW ultra-supercritical thermal plant in Bihar marks a major milestone for the state’s energy future. With a $3 billion investment, 25-year supply agreement, and lowest tariff in competitive bidding, the project promises affordability, job creation, and energy stability.
However, it also raises questions about the long-term environmental footprint, given the global shift toward renewable energy. For investors, the project offers revenue visibility and growth prospects but requires careful monitoring of execution and ESG factors. If executed efficiently, this project could redefine Bihar’s power landscape and strengthen India’s energy security for decades to come.

 

 

 

 

 

 

 

 

 

 

 

 

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Semiconductor Market Set to Cross $1 Trillion by 2030

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Jio’s Giant Leap: Reliance Confirms IPO in Early 2026
Market News - June 18, 2025

Reliance Power’s Rollercoaster: Stock Hits Lower Circuit Amid Profit Booking After Meteoric Rally

Reliance Power’s Rollercoaster: Stock Hits Lower Circuit Amid Profit Booking After Meteoric Rally

After a stunning 50% surge in a month, Reliance Power shares tumble 17% in just four sessions as investors lock in gains and volatility grips the market.

Introduction: From Rally to Retreat
The Indian stock market has recently seen a textbook example of initial euphoria giving way to caution in the case of Reliance Power. Once the darling of momentum traders for its blistering upward run, the stock has now become a focal point for profit booking and risk management. The sudden reversal, marked by a string of lower circuits and heavy trading volumes, underscores the fickle nature of sentiment in high-beta stocks and the importance of prudent investing.

The Rally: What Fueled the Surge?
1. Renewed Investor Interest
Reliance Power, part of the Anil Ambani-led Reliance Group, had been languishing at multi-year lows until a month ago. A combination of improved sector sentiment, speculative buying, and hopes of a turnaround in the company’s fortunes triggered a sharp rally, propelling the stock nearly 50% higher in just four weeks.
2. Technical Breakouts
Technical analysts pointed to a series of bullish patterns and breakouts above key resistance levels, which attracted both retail and institutional traders. The surge was further amplified by high trading volumes and positive momentum indicators, making Reliance Power one of the top performers in the power sector during this period.

The Correction: Profit Booking and Lower Circuits
1. Profit Booking Sets In
After such a steep ascent, it was only a matter of time before investors began to lock in their gains. Over the past four sessions, heavy selling pressure has emerged, driving the stock down by 17% and pushing it to the 5% lower circuit on June 17. The sharp correction highlights the classic market cycle of greed followed by fear, especially in stocks with a history of volatility.
2. Regulatory Scrutiny and ASM Inclusion
Further intensifying the situation, Reliance Power has recently been brought under the Additional Surveillance Measure (ASM) framework by the stock exchanges. This move, designed to curb excessive speculation and protect investors, has made traders more cautious, further contributing to the sell-off.
3. High Volatility and Trading Volumes
The recent sessions have seen a spike in trading volumes as both buyers and sellers jostle for position. While some long-term investors see the dip as a buying opportunity, many short-term traders are exiting to avoid further losses, intensifying the downward momentum.

Market Sentiment: What Are Analysts Saying?
1. Technical Outlook
Market experts note that Reliance Power’s stock remains highly volatile, with support levels being tested after the recent correction. Technical indicators suggest that unless the stock finds a stable base, further downside cannot be ruled out. However, if the broader market sentiment improves and the company delivers on operational fronts, a recovery could be on the cards.
2. Fundamentals Still in Focus
Despite the sharp moves, analysts caution that Reliance Power’s fundamentals—debt levels, project execution, and financial health—remain key to its long-term prospects. The recent rally was largely momentum-driven, and sustained gains will require tangible improvements in the company’s operational performance.

Investor Perspective: Lessons from the Recent Swings
1. The Perils of Chasing Momentum
Reliance Power’s recent price action serves as a reminder of the risks involved in chasing momentum stocks. While quick gains can be enticing, sharp corrections can wipe out profits just as swiftly. Investors are advised to exercise caution, set stop-losses, and avoid overexposure to highly volatile counters.
2. Importance of Risk Management
Reliance Power’s inclusion in the ASM framework underscores the critical role of regulatory measures in safeguarding the interests of retail investors. Such measures, while sometimes curbing short-term gains, play a vital role in ensuring orderly market behavior and preventing excessive speculation.

What’s Next for Reliance Power?
1. Awaiting Stability
For now, the stock is likely to remain volatile as the market digests recent gains and losses. Investors will be closely watching for any fundamental developments—such as debt restructuring, project updates, or management commentary—that could provide fresh direction.
2. Broader Sector Trends
Reliance Power’s trajectory will also be influenced by broader trends in the power sector, government policy moves, and overall market sentiment. Any positive triggers at the industry or company level could help the stock stabilize and potentially recover.

Conclusion: Navigating the Volatility
Reliance Power’s dramatic rise and subsequent fall encapsulate the excitement and risks of trading in high-beta stocks. While the recent correction has rattled short-term traders, it also offers valuable lessons in risk management and the importance of fundamentals. As the dust settles, investors would do well to focus on long-term value and avoid getting swept up in speculative frenzies.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Aditya Birla Capital Hits 52-Week High Amid Strong Market Momentum

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Diamond Power Lands ₹175 Cr Conductor Deal Under ₹100
business update - June 16, 2025

Diamond Power Lands ₹175 Cr Conductor Deal Under ₹100

Diamond Power Lands ₹175 Cr Conductor Deal Under ₹100

Budget-Friendly Cable Stock Secures Major Supply Order in Gujarat

Diamond Power Infrastructure Ltd (DPIL), has bagged a major purchase order worth approximately ₹175.17 crore. The contract, awarded by Associated Power Structures Ltd, involves delivering AL-59 conductors and OPGW cables* for high-voltage transmission lines across Gujarat. These supplies will follow the exact technical requirements set by *Gujarat Energy Transmission Corporation Ltd (GETCO).

This kilometer-rate based order uses a price variation clause and spans a supply length of 3,569 kilometers of conductor and cable. The delivery and execution are scheduled across various timelines between May and November 2025. Key components of the order include:

400 kV D/C Chorania to Kosamba line*: 347 km of supply, worth ₹17.19 crore
400 kV D/C Veloda to Prantij route*: 39.5 km, amounting to ₹23.63 crore
400 kV D/C Saykha to Jhanor line*: 34 km in length, valued at ₹20.20 crore
220 kV D/C Maglana to Pachham connection*: 80 km, worth ₹23.16 crore

These upcoming installations are expected to reinforce the state’s transmission infrastructure and cater to Gujarat’s expanding energy needs.

Financial Growth & Market Buzz

During the *third quarter of FY25, DPIL posted a consolidated net profit of ₹6.27 crore, a strong rebound from a net loss of ₹3.79 crore in the same period the year before. Revenue from operations also jumped significantly, recording a 412.7% rise year-over-year*, reaching ₹307.42 crore. This impressive growth reflects DPIL’s improving financial standing and successful project execution.

News of the ₹175 crore order has positively impacted market sentiment. The stock, which currently trades *below ₹100*, saw gains following the announcement, attracting interest from small-cap and value-seeking investors who are tracking the infrastructure sector closely.

Final Thoughts

The company’s rising revenue, return to profitability, and healthy order pipeline make it a noteworthy pick among low-priced infrastructure stocks. For investors seeking affordable exposure to India’s growing energy and grid expansion story, DPIL offers a compelling case.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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SBI Lowers Interest on Savings and Term Deposits

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Sustainable transition and energy security: investment implications for Indian utilities and grid players
Market News - June 6, 2025

JSW Energy Boosts Green Power: 531 MW Expansion!

JSW Energy Boosts Green Power: 531 MW Expansion!

JSW Energy has ramped up its renewable energy capacity to 12,499 MW, marking a significant advancement in the energy transition. It has teamed up with Adani Green for a 250 MW wind energy agreement, demonstrating a strong dedication to India’s clean energy objectives.

Summary:
JSW Energy has successfully commissioned 281 MW of renewable energy projects, increasing its total installed capacity to 12,499 MW. In a strategic move to further boost its green portfolio, the company signed a significant 250 MW wind energy agreement with Adani Green Energy. These developments reflect JSW Energy’s aggressive push towards decarbonization, reinforcing its vision of achieving net-zero status and becoming a leader in India’s renewable energy transformation.

JSW Energy’s Renewables Strategy Gains Traction
JSW Energy, a prominent player in India’s power sector, has made significant strides in solidifying its status as a leader in green energy. The company has recently introduced 281 MW of renewable energy capacity, raising its total installed power capacity to 12,499 MW, with a significant portion now derived from solar and wind initiatives. Additionally, as part of its ongoing commitment to reducing carbon emissions, JSW Energy has signed a 250 MW wind energy agreement with Adani Green Energy Ltd, further enhancing its renewable energy portfolio.
These strategic moves reflect JSW Energy’s commitment to transitioning from traditional to sustainable power generation and align with India’s national renewable energy goals, which aim for an impressive 500 GW of non-fossil fuel-based capacity by 2030.

Breakdown of Commissioned Capacity: Solar and Wind Gain Share
Much of the newly commissioned 281 MW originates from solar projects in Rajasthan and Karnataka. The remaining capacity comes from wind farms established in Maharashtra and Tamil Nadu. With these additions, JSW’s renewable energy portfolio has reached approximately 3,400 MW, accounting for about 27% of its total capacity— a significant shift from its previously thermal-dominated approach. The company aims to raise this percentage to 50% by 2030, positioning itself as one of the leading private sector players in India’s transition to green energy.

Partnership With Adani Green: A Win-Win Collaboration
In a significant shift towards collaboration within the industry, JSW Energy has formed a strategic agreement with Adani Green Energy to procure 250 MW of wind capacity. This partnership is viewed as advantageous for both parties:
Adani Green, one of India’s leading players in the renewable sector, secures a long-term offtake agreement for its upcoming projects. Meanwhile, JSW Energy gains access to clean energy at stable tariffs to support its increasing commercial and industrial needs, especially for its steel and cement production operations.
This agreement also highlights a rising trend within the Indian energy landscape: collaborations among power producers that allow for scaling up green energy initiatives while avoiding infrastructure redundancy.

Financial Outlook: Renewable Portfolio Driving Long-Term Value
JSW Energy’s ongoing transition to renewable energy has garnered positive responses from both markets and analysts. With numerous projects in development and decreasing levelized costs for solar and wind energy, the company’s earnings outlook is significantly improving.
Based on the company’s financial report for Q4 FY25:
– Revenue increased by 16% year-on-year, driven by higher Plant Load Factor (PLF) in renewable assets.
– EBITDA margins rose to 35%, aided by operational efficiencies and the monetization of carbon credits.
– Net profit reached ₹752 crore, reflecting a 19% YoY growth.
Management highlighted that most of its future capital expenditure plan, estimated at ₹75,000 crore over the next 6–8 years, will focus on expanding renewable capacity.

Strategic Vision: Targeting 20 GW by 2030
JSW Energy’s sustainability goals are firmly rooted in its “Mission 2030” plan, which includes:
– Achieving a total installed capacity of 20 GW by the decade’s end.
– Ensuring that over 85% of new capacity additions come from renewable sources.
– Attaining net-zero carbon emissions by 2050, setting a benchmark ahead of many other Indian companies.
Beyond solar and wind energy, the company is also investigating:
– Hydrogen and energy storage solutions
– Battery energy storage systems (BESS)
– Collaborative efforts to develop green hydrogen hubs with technology firms and state governments
This strategy positions JSW as more than just a power producer; it is evolving into a forward-thinking, integrated energy company.

Industry Impact and National Relevance
India’s energy sector is at a crucial juncture right now. With over 55% of electricity still generated from fossil fuels, major players like JSW Energy’s move towards green energy is economically and environmentally crucial. This transition aligns with:
– India’s revised Nationally Determined Contributions (NDCs) under the Paris Agreement.
– Government initiatives like the Production-Linked Incentive (PLI) schemes aimed at boosting solar manufacturing and storage.
– There is an increasing trend among corporate India to source renewable energy through open access and RE100 targets.
JSW Energy’s path could serve as a model for other conglomerates as they work towards energy transition.

Conclusion: A Sustainable Future Powered by JSW
JSW Energy’s recent commissioning in renewable energy and its collaboration with Adani Green Energy reflect strategic vision and operational prowess. As the company continues to grow its green energy portfolio, it enhances shareholder value while significantly contributing to India’s energy security and climate commitments.
With an ambitious growth strategy, a focus on innovation, and partnerships that address capacity challenges, JSW Energy is transforming from a conventional power company into a leader in clean energy. It is strategically positioned to guide India towards a sustainable, self-sufficient energy future.

 

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Liminatus Pharma Shares Hit New Peak Post Nasdaq Approval

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REC Board Greenlights ₹1.55 Lakh Crore Bond Fund!
Market News - June 5, 2025

REC Board Greenlights ₹1.55 Lakh Crore Bond Fund!

REC Board Greenlights ₹1.55 Lakh Crore Bond Fund!

The Rural Electrification Corporation (REC) intends to secure ₹1.55 lakh crore through the private placement of bonds in the upcoming year, subject to shareholder approval. This initiative addresses India’s expanding power and infrastructure demands while adjusting the corporate structure following the dissolution of Rajgarh II Power Transmission Limited.

Summary:
In a notable step to enhance financing for India’s infrastructure and power sectors, REC Limited has received approval from its board to raise to ₹1,55,000 crore through the private placement of bonds. This capital will be raised in multiple tranches over the next year, pending shareholder approval at the upcoming Annual General Meeting (AGM). Furthermore, the board has also approved the dissolution of Rajgarh II Power Transmission Limited as part of an operational restructuring. These developments emphasize REC’s ongoing dedication to being a vital funding source for India’s clean energy transition and infrastructure growth.

REC’s Mega Fundraising Initiative: A Strategic Financing Push
In a landmark financial decision, REC Limited—a leading public sector enterprise under the Ministry of Power—has received approval from its Board of Directors to raise to ₹1.55 lakh crore through the private placement of bonds/debentures. The fundraising will be executed in one or more tranches over one financial year, enabling REC to maintain a healthy liquidity pipeline to support India’s ever-growing demand for infrastructure financing.
This decision aligns with the company’s broader mission to finance projects in power generation, transmission, distribution, renewable energy, and infrastructure development, particularly in the rural and semi-urban landscape of India. The proposed fundraising is subject to the approval of shareholders, which is expected to be sought at the next Annual General Meeting (AGM).

Why This Fundraising Matters
The decision to raise funds comes at a time when India is witnessing a massive surge in infrastructure development, with a focus on clean energy, smart grids, urban electrification, and green mobility projects. REC, as one of the principal infrastructure finance companies (IFCs) in India, plays a pivotal role in channelling credit to these high-impact projects.
With India targeting 500 GW of non-fossil fuel capacity by 2030, REC’s role as a financial backbone becomes more critical than ever. The scale of ₹1.55 lakh crore—the largest such bond placement plan in REC’s history—reflects the magnitude of upcoming funding requirements.

Modalities of the Bond Issuance
The funds will be raised via:
Non-Convertible Debentures (NCDs)
Privately placed secured/unsecured bonds
Tax-free or taxable instruments
These will be offered to institutional investors, banks, pension funds, insurance firms, mutual funds, and sovereign wealth funds, both domestic and foreign. The bonds may carry various interest rate structures (fixed or floating) and tenures, depending on market conditions and investor appetite.
REC is already a frequent issuer in the Indian bond market and enjoys high credit ratings (AAA/Stable) from domestic rating agencies like ICRA, CRISIL, and CARE Ratings. The strong rating enhances investor confidence and ensures competitive pricing.

Utilization of Funds: Catalyzing Development
The capital raised will be deployed for:
Financing infrastructure projects, particularly in the power sector
Lending to state discoms (distribution companies) under various central government schemes
Promoting renewable energy and smart grid infrastructure
Strengthening the green financing portfolio
Refinancing of high-cost debt to optimize the cost of capital
REC’s strategic financial roadmap is focused on being a green financier under India’s climate commitments. The fundraising will also support new-age infrastructure projects, including electric vehicle charging networks, battery storage units, green hydrogen plants, and sustainable rural electrification.

Board Clears Dissolution of Rajgarh II Power Transmission Limited
In another important development, REC’s board has also approved the dissolution of Rajgarh II Power Transmission Limited, a wholly owned subsidiary. The dissolution is a result of operational changes in project alignment and resource optimization.
Rajgarh II was created as a special purpose vehicle (SPV) for transmission infrastructure but is now being dissolved due to shifts in planning and execution frameworks. The move is part of a broader corporate restructuring strategy to streamline REC’s operational efficiency and eliminate dormant or non-performing entities from its balance sheet.

Industry Context: Financing the Next Phase of Growth
India’s infrastructure financing needs are projected to exceed ₹111 lakh crore by 2040, as per estimates from NITI Aayog. Within this, the power sector alone will require over ₹30 lakh crore, making dedicated financial institutions like REC crucial for long-term development goals.
The government’s increased capital expenditure in Union Budgets, coupled with PLI schemes for solar modules and green hydrogen, calls for robust private-public capital alignment. Institutions like REC and PFC (Power Finance Corporation) will remain at the forefront of this movement.

Investor Sentiment and Market Reaction
While the bond issuance is not expected to immediately affect share price, the move has been seen as a positive signal by institutional investors. It reflects strong governance, clarity in funding strategy, and long-term commitment to sectoral growth. Analysts have noted that REC’s stable earnings, diversified loan portfolio, and sovereign backing make it a preferred choice for debt investors looking for low-risk, long-duration instruments.
Moreover, as the Reserve Bank of India maintains a tight monetary stance, entities like REC are increasingly tapping into private placements and green bond channels to reduce reliance on high-cost borrowings.

Conclusion: Building India’s Infrastructure Future
The REC board’s green light to raise ₹1.55 lakh crore via bonds is a decisive step in preparing India’s financial ecosystem to support next-generation infrastructure. As the country accelerates its transition toward sustainable development and net-zero targets, capital deployment by institutions like REC will play a transformative role.
Coupled with prudent restructuring moves like the dissolution of Rajgarh II Power Transmission Limited, REC is not only scaling financial resources but also enhancing operational agility. With the right execution and timely approvals, the bond issuance will not just fund infrastructure—it will help shape the next decade of India’s growth story.

 

 

 

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Dixon Tech Pursues ₹400 Cr JV with HKC

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HFCL Shares Zoom 5% as Firm Secures 1,000 Acres for Defence Facilities
Equities - June 3, 2025

Genus Power Stock Surges 9% on Fourfold PAT Growth in Q4 FY2025

Genus Power Stock Surges 9% on Fourfold PAT Growth in Q4 FY2025

Record quarterly earnings, robust order book, and industry tailwinds propel Genus Power to a multi-month stock high

Shares Rally on Exceptional Q4 Numbers
On June 2, 2025, Genus Power shares jumped 9% in intraday trading, reaching levels last seen over five months ago. This surge followed the company’s announcement of its March quarter (Q4 FY25) results, which far exceeded market expectations. The robust financial performance and upbeat management commentary have reinforced investor confidence in the company’s outlook.

Q4 FY25: Financial Performance at a Glance
Revenue and Profit
• Genus Power reported consolidated revenue of ₹937 crore for Q4 FY25, a 123% increase over the same quarter last year.
• Profit after tax (PAT) soared to ₹129.3 crore, more than four times the previous year’s figure.
• EBITDA increased by 276%
Margins:
• The company’s EBITDA margin expanded to 22.3%, up by more than 900 basis points from last year, marking one of the highest quarterly margins in its history.
• The net profit margin also improved significantly, underscoring the company’s ability to convert top-line growth into bottom-line gains.

Drivers of Growth
1. Smart Metering Boom
The nationwide drive to modernize electricity distribution with smart meters has created a massive opportunity for Genus Power. The company’s expertise in advanced metering infrastructure and its proven execution capabilities have helped it win significant tenders under government schemes.
2. Operational Efficiency
Genus Power’s focus on operational excellence has paid off, as reflected in the sharp improvement in margins. The company has streamlined its manufacturing processes, optimized supply chains, and increased its share of value-added products, all contributing to higher profitability.
3. Expanding Market Reach
In addition to its strong domestic presence, Genus Power is exploring opportunities in overseas markets, aiming to replicate its success in other emerging economies that are upgrading their power infrastructure.

Stock Performance and Market Sentiment
The Q4 results triggered a wave of buying interest, with the stock hitting its highest level in nearly six months. The sharp rally comes after a period of consolidation, and analysts believe the strong financials and healthy order book could support further upside. The stock’s performance stands out in a market that has otherwise been marked by volatility and selective sectoral gains.

Management Commentary and Outlook
The company’s management expressed optimism about sustaining the growth momentum, citing the record order book and continued policy support for smart metering. They emphasized ongoing investments in technology and capacity expansion to meet the rising demand. With the government’s push for digitalization and energy efficiency, Genus Power expects to maintain its leadership position and deliver consistent value to shareholders.

Genus Power Q4 FY25 Highlights
In Q4 FY25, Genus Power reported a remarkable 123% year-on-year increase in revenue, reaching ₹937 crore compared to ₹420 crore in Q4 FY24. PAT surged by 310% to ₹129.3 cr, up from ₹31.5 crore in the same period last year. The company also achieved a significant improvement in EBITDA margin, rising by 900 basis points to 22.3% from 13.3%. Additionally, the order book expanded substantially, growing 141% to ₹30,110 crore from ₹12,500 crore.
Genus Power’s latest performance not only highlights its financial and operational excellence but also its pivotal role in India’s energy transition. Investors and industry watchers will be keenly following the company as it builds on this momentum in the quarters ahead.

Conclusion
Genus Power’s Q4 FY2025 results mark a significant leap forward in the company’s growth path.
The quadrupling of profits, sharp margin expansion, and a robust order book underscore its operational strength and strategic positioning in the smart metering revolution. As the company continues to capitalize on industry tailwinds and execute on its large pipeline, it remains a compelling story in India’s power infrastructure sector.

 

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Kody Technolab Soars 5% After Massive Profit Growth

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