The Arunachal Pradesh government has launched an ambitious plan to build 50 mini hydropower projects along the border with China for electrification of remote villages that are facing challenges of poor connectivity and mountainous terrain.
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
The airport located at Hollongi, around 15 kilometres from the state capital Itanagar, will link the border state with other Indian cities with commercial flights as well as other parts of Arunachal Pradesh through helicopter services.
Zaporizhzhia power plant spokesperson Andrey Tuz said the plant has not sustained any critical damage, although only one power generation unit out of six is operational as the fire continued at the facility.
Tata Power will target 10,000 micro grids across India, for which it has formed a company, TP Renewable Microgrid.
Innovation ranging from exterior designs of vehicles to EV charger locks grabbed eyeballs at the expo
Tata Steel was the top gainer in the Sensex pack, jumping around 4 per cent, followed by NTPC, PowerGrid, Reliance Industries and Bajaj Finserv.
Equity benchmarks snapped their six-session rally to close marginally lower on Thursday amid profit booking in banking and energy counters. Investors also stayed on the sidelines ahead of the RBI's policy meet outcome on Friday. In choppy trade, the 30-share BSE Sensex ended 51.73 points or 0.09 per cent lower at 58,298.80. During the day, it hit a low of 57,577.05 and a high of 58,712.66.
The benchmark BSE Sensex and Nifty closed marginally higher in a volatile trade on Tuesday as gains in FMCG, power and energy stocks helped the indices extend gains for a fifth straight day. The 30-share BSE benchmark ended 20.86 points or 0.04 per cent higher at 58,136.36 with 16 of its constituents ending in the red. During the day, it hit a high of 58,328.41 and a low of 57,744.70.
Fitch Solutions on Thursday said the new climate targets announced at the COP26 summit by Prime minister Narendra Modi pose an upside risk to its outlook for renewable growth in the country. With the new targets, it expected to see attempts to alleviate the issues regarding supply chains, manufacturing and project development that have long plagued renewable proliferation.
RIL subsidiary Reliance New Energy Solar, Ola Electric, Hyundai Global Motors Company and Rajesh Exports have been approved for receiving incentives under the Rs 18,100 crore Production Linked Incentive (PLI) scheme for battery manufacturing in India, sources said on Thursday. "The ministry had received bids from 10 companies with a capacity of 130 GWh. Reliance, Ola Electric, Hyundai and Rajesh Exports have qualified for ACC batteries," a source said. Other companies which had applied for the PLI scheme for Advanced Chemistry Cell (ACC) batteries were Lucas-TVS, Mahindra & Mahindra, Amara Raja Batteries, Exide Industries, Larsen & Toubro and India Power Corporation Limited.
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
Shares of Adani Green Energy (AGEL) continued their upward movement, hitting a new high of Rs 1,955.90, up 2.6 per cent on the BSE in Wednesday's intra-day trade in an otherwise weak market. The S&P BSE Sensex was down 0.77 per cent at 60,285 at 11:01 am. In the past 14 trading sessions, the stock of the renewable energy arm of the diversified Adani Group has zoomed 50 per cent from Rs 1,307.05 on December 30, 2021. In comparison, the S&P BSE Sensex was up 4.3 per cent during the same period.
Equity benchmark Sensex tanked 372 points on Thursday, tracking losses in index majors L&T, Infosys and TCS amid a negative trend in global markets. The 30-share index ended 372.32 points or 0.62 per cent lower at 59,636.01. Similarly, the NSE Nifty fell 133.85 points or 0.75 per cent to 17,764.80.
'If there is a sudden drop or increase in the demand or supply in the grid, there could be disturbance in the grid frequency'
Benchmark indices turned highly volatile in the last hour of trade on Monday, with the Sensex falling 86.61 points after three days of gain amid heavy selling in IT counters and weak trends in global markets. The 30-share BSE benchmark declined 86.61 points or 0.16 per cent to settle at 54,395.23. During the day, it fell by 391.31 points or 0.71 per cent to 54,090.53.
Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.
Things are looking up for engineering firms and Siemens is likely to be one of the leading beneficiaries. Apart from the generic revival in activity, which is expected to continue through the 2023-24 financial year (FY24), the Budget has a strong infrastructure thrust, which works in Siemens' favour. The company reported a standalone Ebitda (earnings before interest, tax, depreciation and amortisation) of Rs 550 crore (up 66 per cent year-on-year or YoY) in Q1FY23 (Siemens follows the October-September accounting year).
Benchmark Sensex declined 224 points on Wednesday, snapping its four-session winning streak, mainly due to sell-off in IT and pharma counters amid rising concerns over possible aggressive interest rate hikes to tame high inflation. The 30-share index rebounded more than 1,200 points from the early lows before settling at 60,346.97 points, a total loss of 224.11 points or 0.37 per cent compared to Tuesday's closing level. The broader NSE Nifty closed lower 66.30 points or 0.37 per cent at 18,003.75 points.
Of the 170 million rural households in the country, a government website claims to have connected 82 per cent of them. The metered households are 50 per cent of the total. As on February, 2018, of the 780,000 villages to be intensively electrified or provide connection to all in households, 493,000 have been covered. However, the amount and quality of the power supply cannot be ascertained from this data. No clause in any of the rural electrification programmes promises 24 hours' power supply.
''I don't revisit any of my work once it's complete because I'm very self-critical.' 'I will probably exclaim, "Oh God, such bad acting!"'
Kolkata trams -- now in their 150th year -- are the last to survive modernity in Indian cities, writes Ishita Ayan Dutt.
'The 24x7 power for all vision is inspiring, because as we've so often seen, where India leads, the world follows,' says Rajiv J Shah, President, The Rockefeller Foundation.
Given India's reliance on coal, electric vehicles could at best be 10% more efficient than petrol in terms of CO2 savings.
India's largest oil firm IOC will build the nation's first 'green hydrogen' plant at its Mathura refinery, as it aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy. Indian Oil Corporation (IOC) has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years, its chairman Shrikant Madhav Vaidya said. The company will not set captive power plants at all its future refinery and petrochemical expansion projects and instead use the 250 MW of electricity it produces from renewable sources like solar power, he told PTI in an interview.
L&T was the top gainer in the Sensex pack, rallying over 4 per cent, followed by Dr Reddy's, Sun Pharma, NTPC, IndusInd Bank, PowerGrid, ONGC and M&M. NSE Nifty jumped 119.20 points to 14,942.35.
Equity investors are a happy lot as their wealth jumped by over Rs 5.36 lakh crore in the first two days of trading in the New Year, driven by optimism in the broader market amid firm global cues. The 30-share Sensex zoomed 672.71 points or 1.14 per cent to settle at 59,855.93 on Tuesday. The benchmark had jumped 929.40 points or 1.60 per cent to close at 59,183.22 on Monday, the first trading day of 2022.
IndusInd Bank was the top gainer in the Sensex pack, jumping nearly 5 per cent, followed by Bharti Airtel, HCL Tech, Reliance Industries, Titan and Asian Paints.
Prime Minister Narendra Modi's three-day visit to Britain has seen India and the UK agreeing on Rs 90,000 crore deals.
Kotak Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, PowerGrid, HDFC, IndusInd Bank and Axis Bank. NSE Nifty declined 45.75 points to 16,568.85.
Modi's unexpected announcement of achieving net zero by 2070 may have neatly deflected the pressures on India to sign up to an ambitious pledge but it does nothing to dispel the ecological emergency that threatens all life on the planet, , points out former forerign secretary Shyam Saran, the prime minister's special envoy and chief negotiator on climate change 2007-2010.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
Corporate earnings grew in double digits during the April-June 2022 (Q1FY23) quarter but the momentum waned. Overall corporate earnings in the quarter were down sharply from their highs in FY22. The combined net profit of 2,981 listed companies across sectors in the Business Standard sample was up 22.4 per cent YoY to Rs 2.24 trillion in the June quarter, driven by a big jump in the earnings of banks, non-banking lenders, oil & producers, and FMCG companies. Also, earnings in the corresponding quarter a year ago were affected because of the second wave of the Covid pandemic, even though the numbers were a lot better than Q1FY21 when there was a nationwide lockdown.
The Adani group struck first coal from its Carmichael, Australia project on Thursday and will start shipping to its customers according to schedule. With this, the project will not only lift the economic prospects of the hitherto barren Australian outback, but also help Indian power plants to source cheap coal. The project had faced protests from a section of population with several banks even refusing to fund it. The group, however, went ahead with the project which included construction of a brand new railway line connecting an Australian port to the mine -- situated 300 kilometers away in Queensland.
Train movement halted between Andheri and Churchgate railway stations as the power supply stopped, Western Railway's chief public relations officer Sumit Thakur said.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
Nearly a decade ago, the first fully electric vehicle (EV) caught fire on the road in the US. It was a model from Tesla, the world's most admired EV maker. A metal fragment punctured the underbelly of the vehicle, penetrating its battery pack, leading to a fire. Indian lawmakers and automakers have had nine years to study the incident (in fact, three Tesla Model Ss caught fire in two months in 2013) but seem to have learnt little.
PowerGrid was the top gainer in the Sensex pack, rallying over 4 per cent, followed by NTPC, UltraTech Cement, Tech Mahindra, Reliance Industries and IndusInd Bank.
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