A greater payment security mechanism for power generation companies to ensure timely payouts for supply of electricity will be in focus in 2022 as stricter rules are on the anvil for 24x7 power supply amid discoms' outstanding dues at a whopping Rs 1.56 lakh crore. Mounting outstanding dues of distribution companies (discoms) to electricity generation companies (gencos) have been a perennial issue affecting the entire value chain in the power sector and are also a hindrance for the ambitious goal of 24x7 power supply across the country even when the payment for coal is made in advance. The situation persists despite the fact that discoms' dues become overdue after 45 days of generating bills and they also have to pay penal interest on the overdue amount in most of the cases to gencos.
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
Areas in East and Central Delhi face a blackout risk from Saturday as the State-run National Thermal Power Corporation on Friday rejected the Delhi government's plea not to stop electricity supply to the BSES Yamuna Power Ltd for defaulting on payments.
Ajit Mishra answers reader queries on the stock market.
State governments in Punjab, Gujarat, Maharashtra and Jammu & Kashmir are on high alert and have come up with contingency plans to ensure the security of residents in case of a war.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
NTPC to be the worst hit, stock slides to five-year low on announcement.
The UT has been facing a widespread power shutdown Since Sunday owing to a deadlock between the Power Development Department (PDD) employees and the administration over the latter's bid to privatise electricity in the region.
M&M was the top loser in the Sensex pack, shedding over 2 per cent, followed by Dr Reddy's Bharti Airtel, Tech Mahindra, HUL, ICICI Bank and Infosys. NSE Nifty dropped 64.80 points to 14,341.35.
Ratnagiri Gas will be an equal JV between NTPC and GAIL if MSEB which has been offered a small stake does not pick up equity
Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap up 0.5% and 0.6%.
The mishap occurred at the fifth unit of the thermal power station-II (210 MW x 7) when workers were in the process of resuming operations on Wednesday morning.
Bharti Airtel was the top gainer in the Sensex pack, rising around 4 per cent, followed by Tech Mahindra, HDFC, Kotak Bank, M&M and HCL Tech. NSE Nifty advanced 21.85 points to 16,280.10.
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
The S&P BSE Sensex has gained 149 points to open at 25,802.
Top losers in the Sensex pack on Friday included Bajaj Finance, ONGC, IndusInd Bank, PowerGrid, L&T, Axis Bank, NTPC, Bharti Airtel, HDFC, HDFC Bank and Kotak Mahindra Bank, falling up to 2.08 per cent.
Banks need assistance to complete projects that they have taken over
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.
Corporate revenues will decline for a third consecutive quarter in March on a YoY basis - one of the worst shows by these companies in many years.
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
The finance ministry has short listed 11 PSUs for a possible buyback of shares in the ongoing financial year
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Shares of Reliance Industries plunged on Friday after a court ruling that the Mukesh Ambani-led company can not sell its KG basin gas to any company except NTPC and Anil Ambani group's Reliance Natural Resources.
'The competition between the two is definitely going to be of great interest to the Indian market.'
Despite their promised and announced reduction in power prices, the Arvind Kejriwal-led Delhi government may want keep the issue on the burner for sometime longer, since none of the concerned players are ready to give an inch, and seem raring for a fight, says Upasna Pandey
Market cap of government companies has remained unchanged in the past 8 years.
The government has garnered Rs 2 lakh crore by auctioning 33 blocks.
Reliance Infra-backed BSES discoms have sought Rs 450 crore "dues" from Delhi government and the Municipal Corporation of Delhi to overcome their immediate "financial difficulties" and avoid black outs in 70 per cent areas even as the AAP dispensation maintained it will not adopt a "lenient" approach in dealing with the firms.
Divestment in BPCL, SCI, Concor, NEEPCO, and THDC would help the Centre keep its fiscal deficit in check in the wake of subdued tax revenues and a Rs 1.45-trillion hit for the exchequer from corporation rate cuts.
Other gainers included SBI, Kotak Bank, Sun Pharma, Tata Motors, M&M and Tata Steel, rising up to 5.19 per cent.
Around 7 billion units of coal power valued at Rs 2,400 crore lost due to drought.
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