Latest news with #JSWEnergy
Time of India
a day ago
- Business
- Time of India
JSW Energy to bid for Raigarh Champa Rail Infra as NCLAT allows fresh bidding
National Company Law Appellate Tribunal quashed a Hyderabad bench NCLT order that denied permission to the lenders of debt-ridden Raigarh Champa Rail Infrastructure to start a fresh bidding process. This is a relief for JSW Energy , which had sought permission to participate in the insolvency resolution process of Raigarh Champa Rail Infrastructure, an ancillary company of KSK Mahanadi. JSW Energy had acquired KSK Mahanadi Power, a 3,600 MW thermal power plant in Chhattisgarh, for Rs 16,084 crore through the insolvency process, earlier in March this year. The Chennai-bench of the NCLAT said it saw no demerits in the decision of the lenders' body CoC to invite fresh Expression of Interest (EoI) by re-issuing fresh Form G, inviting new prospective buyers as it "will certainly increase competition and in all likelihood, result in higher bids." ".... since, the EoI is proposed to be reopened for everybody and not for JSW alone, it is fair and transparent and not discriminatory and that since, existing PRAs (Prospective Resolution Applicants) are proposed to be retained with option given to them to participate in challenge mechanism, it is also fair to the existing Resolution Applicants," it said. The tribunal had said it is" proposed to be the Reserve Price, there cannot be any value erosion of the Corporate Debtor, if EoI process is reopened" over the bid submitted by Medha group, which was the highest and also approved earlier by RCRIPL lenders with 100 per cent votes. Five companies, including Adani Power, Jindal Power, Medha Servo Drives, Sherisha Technologies and Vedanta, had bid to acquire the special Purpose Vehicle (SPV) promoted by KSK group. Earlier, on April 3, 2025, the Hyderabad bench of the NCLT denied permission to the RP and the lenders' body Committee of Creditors (CoC) for issuance of a fresh Form G and invitation of EoI from new eligible Prospective Resolution Applicants, including JSW Energy. In the fresh bidding, the NCLT had directed to conduct the challenge mechanism amongst the bidders as earlier decided by the CoC. However, NCLAT said it sees no demerits in the proposal of the RP and decision of the CoC, as going by previous decisions, the lenders' body has the power to call for fresh Form G and permit other PRAs to participate even after submission of EoI. "The Impugned Order of April 3, 2025, is hereby quashed and as a consequence. The relief as sought for, by the Resolution Professional, to be permitted to issue fresh Form G and to invite Expression of Interest (EoI) from new and interested eligible Prospective Resolution Applicants is granted," said the NCLAT order passed on June 19, 2025 by a two member comprising Justice Sharad Kumar Sharma and Jatindranath Swain. Form G under IBC is an Invitation for Expression of Interest (EoI) and is published by the Resolution Professional (RP) to invite potential resolution applicants to submit their proposals for taking over a company undergoing CIRP. This was challenged before the appellate tribunal NCLAT, which on June 16 quashed the NCLT order.
Hans India
3 days ago
- Business
- Hans India
JSW Energy plans to raise Rs 10K cr
New Delhi: JSW Energy will seek shareholders' approval for raising funds of up to Rs 10,000 crore in one or more tranches through the issuance of securities, in its annual general meeting on July 11. In a regulatory filing, the company said it is exploring various avenues of business growth in line with its vision to achieve a target of 30 GW installed capacity and 40 GWh of storage capacity by FY 2030 and is pursuing various growth opportunities, including organic and inorganic opportunities. The growth and expansion plans may necessitate raising funds, it stated adding that the company will raise funds up to Rs 10,000 crore in one or more tranches through issuance of securities by way of private offerings and/or on preferential allotment basis and/or qualified institutions placement. On May 15, 2025, the Board of JSW Energy had approved the proposal to raise Rs 10,000 crore in one or more tranches, through the issuance of eligible securities of the company by way of private offerings and / or on preferential allotment basis and / or qualified institutions placement or any other method or combination thereof.
Mint
3 days ago
- Business
- Mint
Buy or sell: Vaishali Parekh recommends three intraday stocks for today — 20 June 2025
Buy or sell stocks: Amid rising geopolitical tension caused by the Israel-Iran war, the Indian stock market extended its downside trend for the third straight session on Thursday. The Nifty 50 index ended 18 points lower at 24,793, the BSE Sensex finished 82 points lower at 81,361, while the Bank Nifty index corrected 251 points and closed at 55,577. Tata Consumer, Eicher Motors, and M&M emerged as top performers on the Nifty. Conversely, Adani Ports, Bajaj Finance, and Shriram Finance concluded the session as major losers of Nifty. Trading volumes on the NSE cash market were lower by 23% compared to average volumes of the last ten days. Across sectors, the selling pressure was widespread. Barring Nifty Auto, all other sectoral indices ended in the red. Nifty PSU Banks, Media, Realty, Metal, and IT witnessed the most significant declines among them. The Nifty Midcap and Smallcap Indices witnessed considerable selling pressure, with the Nifty Midcap 100 Index plummeting by 1.63%, while the Nifty Smallcap 100 Index plunged by 2%. Market breadth remained weak for the seventh consecutive day, with declining stocks sharply outpacing advancing ones, as indicated by a BSE advance-decline ratio of 0.32, the lowest since 06 May. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market trend is cautious. The Nifty 50 index is sustaining above its immediate support of 24,800. The Prabhudas Lilladher expert said the benchmark index has crucial support at 24,500, whereas the 50-stock index is facing hurdles at 25,200. Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index amid the geopolitical tensions has managed to show resilience sustaining near the 24,800 zone for quite some time with very narrow movement witnessed as of now and currently is precariously placed having the crucial and important support zone positioned at 24,500 and at the same time, would need a decisive move above the 25,200 to anticipate for further fresh upward move." "The Bank Nifty index witnessed some profit booking from near the 56000 zone and closed near the 55600 level with overall bias maintained with a cautious approach and anticipating fresh developments in the coming sessions, which shall decide the further directional move of the index. The index has been precariously placed and would need a decisive move above the 56000 zone, as mentioned earlier, to turn the bias positive and, at the same time, would need to sustain the near-term support positioned near the 55000 level to maintain the overall trend intact," said Parekh. Parekh said the Nifty's support today is at 24,600, while the resistance is at 25,000. The Bank Nifty's daily range would be 55,200 to 56,000. Regarding intraday stocks for today, Vaishali Parekh recommended three buy or sell stocks: JSW Energy, Vishal Mega Mart, and Voltas. 1] JSW Energy: Sell at ₹ 482, Target ₹ 470, Stop Loss ₹ 490; 2] Vishal Mega Mart: Buy at ₹ 126, Target ₹ 135, Stop Loss ₹ 120; and 3] Voltas: Sell at ₹ 1259, Target ₹ 1240, Stop Loss ₹ 1270. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
13-06-2025
- Business
- Mint
Battery energy storage stocks: A small-cap watchlist
Energy cannot be created or destroyed. It only changes form. The principle many of us read in school textbooks is now unfolding in a powerful way, defining how we power homes, cities, and the economy. The sun and the wind are becoming the backbone of India's energy story. In 2024-25, India added 34 gigawatts (GW) of power capacity. The most telling part? A staggering 29.5GW of that came from renewable sources—mostly solar and wind. The country's installed renewable capacity now stands at nearly 220GW, and the government aims for 500GW by 2030. Also Read: SMIDs vs bluechip: Make safer bets as experts see a deeper correction But here's the challenge with nature: it doesn't follow our schedule. The sun doesn't shine at night (sometimes not even during the day), and the wind doesn't blow on demand. This is where the next big opportunity in the energy sector is emerging: energy storage. To turn inconsistent renewable energy resources into a reliable source of power, we need a way to store the energy they produce. The solution: Battery Energy Storage Systems, or BESS. Without BESS, the rise of green energy would be just reduced to a concept. BESS takes excess electricity when it's abundant and stores it for times when the grid needs it most. Battery systems help buildings with solar panels use their own energy at night. They help reduce pressure on the grid when demand surges at once. They also perform complex tasks like stabilizing voltage and frequency on the power grid. Without storage, the shift to renewables could hit a wall. India recognizes this. Every new solar project in the country is now required to include co-located energy storage, with enough battery capacity to store at least two hours' worth or 10% of the installed solar capacity. Well, the bottom line is that storage is not optional anymore. It's integral and mandatory. But are BESS projects viable? Well, increasingly yes. The cost of lithium-ion batteries, which power most BESS today, has crashed in recent years. Innovations, improved supply chains, and mass production have all contributed to making these systems more affordable. Also Read: Gold is back under pressure after a stunning surge. What's driving the dip? The government, too, is putting its money where its mouth is—offering viability gap funding to support up to 30% of capital costs for storage projects. What does this mean for the market? A massive runway for growth. India's National Electricity Plan aims for 47GW of battery energy storage by 2032. For context, the current installed capacity is just 300MW. That's a projected growth of over 150X in under a decade. According to the industry players, by 2030, the Indian BESS market could reach $32 billion, growing at a compound annual rate of 27%. This shift is already beginning to show in the markets. Established names in power generation and renewable energy are either entering or expanding their storage portfolios. Tata Power, JSW Energy, Adani Green, NHPC, KPI Green Energy, Sterling & Wilson, and Acme Solar are all making moves in this direction. But the real intrigue lies in the less obvious names. Advait Infratech, for example, is a company that primarily operates in telecom and power transmission infrastructure. It has quietly announced plans to develop 1GW worth of battery energy storage projects over the next five years. Bondada Engineering (SME), a small but nimble player, has emerged as the lowest bidder for a BESS project for Telangana GENCO, worth ₹240 crore and is eyeing a pipeline of projects totalling ₹1,000 crore. For IEX, storage increases its relevance. BESS allows energy to be charged and discharged at optimal times, increasing energy liquidity on exchanges and potentially boosting volumes. Also Read: GE Vernova's impressive turnaround has stretched the stock's valuation Then there are players like Jupiter Wagons, best known for making rail freight wagons. It has diversified into electric mobility and received orders for full-fledged battery storage systems. Quality Power Electrical Equipments recently acquired a majority stake in STATCON Energiaa, a domestic power electronics manufacturer whose offerings include BESS. Himadri Specialty Chemicals is working on key lithium-ion battery materials and boasts backward integration—a rare edge in this space. Similarly, PCBL is developing ultra-conductive battery chemicals and helping build a local supply chain for battery materials. These companies may not be traditional energy giants, but they're positioning themselves for tomorrow's market. For investors, that spells opportunity. Of course, no big opportunity emerges without its fair share of risks. And there are some real risks to consider. Technological disruptions and different cell chemistries, for instance. And then there is China, producing around 75% of lithium-ion batteries. This creates exposure to geopolitical and supply disruptions, and competition risk. Government policy, though supportive now, can change course. And scaling BESS projects comes with execution risks. Still, it's an interesting emerging space to watch out for. It may not be long before it becomes as essential as the energy it stores. The time to pay attention isn't when everyone is already onboard. It's when the pieces are just starting to come together. That's where we are with BESS. So, stay alert. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
Hans India
10-06-2025
- Business
- Hans India
L&T bags major order from JSW
New Delhi: Infrastructure major Larsen & Toubro (L&T) on Monday said it has bagged a 'significant order' valued between Rs 1,000 crore to Rs 2,500 crore from JSW Energy to execute a pump storage project in Maharashtra. The order was bagged by the heavy civil infrastructure vertical of L&T, the infrastructure major said in a regulatory filing. Larsen & Toubro (L&T) uses the term 'significant order' to refer to contracts valued between Rs 1,000 crore and Rs 2,500 crore. The order has been bagged for the "execution of Bhavali Pumped Storage Project (PSP) in the state of Maharashtra," the filing said. The project is strategically located across the Nashik and Thane districts of Maharashtra and is designed to have a total installed capacity of 1,500 mw, comprising various small units. The scope of work encompasses complete execution of all civil works related to the project, including construction of approach roads, upper and lower reservoirs, water conductor system, pressure tunnels, and the underground powerhouse unit. Pump storage projects like the Bhavali PSP are pivotal to grid stability, particularly in the context of growing integration of variable renewable energy sources.
