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ACME looks to sell 35% stake to raise Rs 3,000 crore

ACME, established in 2003 by Manoj Kumar Upadhyay, is the largest solar independent power producer in India with a diversified portfolio of 5.5 GW spread across 12 states and with a mix of central and state utilities. Its portfolio of operational solar power projects has grown to 2.9 GW from 15 MW in 2011. The rest of the 2.6 GW is under different phases of development.
United Kingdom United Kingdom General City Of Nova Scotia Al Wustáu Manoj Kumar Upadhyay

PSUs lead mid and smallcap stocks' sell-off on Dalal Street

In the past three months, the Nifty PSE index surged close to 48%, while the Small-cap 250 and Mid-cap 100 indices rose about 21%. Analysts said the rally in public sector stocks has led to a surge in participation by individual traders, who have mounted bullish bets on them with borrowed money.
Red Sea Djibouti General Vikas Nigam Sneha Poddar Sandeep Raina Nuvama Professional Clients Group

SBI to down-sell half of Rs 11,000 crore loan to Adani's Ganga Expressway project

State Bank of India (SBI) is reportedly in advanced discussions to downsell half of its approximately ₹11,000-crore loan exposure to the Adani Groups Ganga Expressway project. SBI is engaging with institutions like the National Bank for Financing Infrastructure and Development (NaBFID), Punjab National Bank (PNB), and power finance companies for the downselling. The move follows the standard practice in infrastructure financing, allowing banks to diversify risk by selling portions of large loa...
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SBI to down-sell half of ₹11,000 crore loan to Adani's Ganga Expressway project

State Bank of India (SBI) is reportedly in advanced discussions to downsell half of its approximately ₹11,000-crore loan exposure to the Adani Groups Ganga Expressway project. SBI is engaging with institutions like the National Bank for Financing Infrastructure and Development (NaBFID), Punjab National Bank (PNB), and power finance companies for the downselling. The move follows the standard practice in infrastructure financing, allowing banks to diversify risk by selling portions of large loa...
Uttar Pradesh Development Na Union Bank National Bank Adani Group Ganga Expressway Punjab National Bank

REC share price jumps 9% on strong December quarter earnings

RECs net profit rose 13.6 percent year-on-year (YoY) to ₹3,269.3 crore for Q3FY24 versus ₹2,878 crore in the same quarter last year. Meanwhile, its net interest income (NII) for the quarter under review grew 18 percent YoY to ₹4,159 crore.
Pradhanmantri Suryodaya Yojana Karera Power Transmission Ltd Dhule Power Transmission Ltd Power Development Bidar Transmission Ltd Siker Khetri Transmission Ltd

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