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IEX Q4 PAT jumps 35% YoY

On a consolidated basis, Indian Energy Exchange (IEX) reported 35.1% jump in net profit to Rs 61.5 crore on 26% rise in total revenue to Rs 100.3 crore in Q4 FY21 over Q4 FY20.
On the segmental front, Power exchange business recorded 28.3% year-on-year rise in revenue to Rs 101.81 crore during the quarter. The Gas exchange business recorded a revenue loss of Rs 0.74 crore in the fourth quarter compared with revenues of Rs 0.21 crore in the same period last year.
EBITDA increased 34.2% to Rs 83.9 crore in Q4 FY21 compared with Rs 62.6 crore in Q4 FY20.
Electricity Volume increased by 62.1% to 22428.4 million units (MU) in the fourth quarter as against 13,835.1 MU recorded in the same period last year.

India , Indian-energy-exchange , Escerts-energy-saving-certificates , Renewable-energy-certificates-recs , Renewable-energy-certificates , Energy-saving-certificates , Capital-market , Energy-in-india , Ndian-energy-exchange , Nergy , Conomy-of-india

IEX rises after strong biz update for March

Indian Energy Exchange (IEX) rose 1.77% to Rs 347.40 after the company said its power market traded highest ever monthly volume of 8249 MU, achieving 92% YoY growth in March 2021 on increased consumption of electricity.Spurred by the increasing demand for electricity across the various states, the electricity market at IEX achieved an all-time high volume of 8248.52 MU in the month of March 2021 surpassing all the previous milestones. The robust volumes led to a 92% YoY growth in electricity market during the month.
Cumulatively for the fiscal year ended March 2021, the exchange market performed well despite the COVID-19 induced lock-down. The electricity market achieved all time high volume of 73,941 MU during the year, leading to 37.2% year on year growth. The new market segments introduced during fiscal year 2021 - the real time market as well as the green market, made 14% contribution to the volume traded during the year.

India , Indian-energy-exchange , Renewable-energy-associations , Green-term-ahead-market , Renewable-purchase-obligation , Capital-market , Energy , Electric-power , Renewable-energy , Electric-power-distribution , Renewable-electricity

IEX hits record high; rises 11% in two days

Indian Energy Exchange (IEX) jumped 8.43% to Rs 334.50, rising for the second trading session.Shares of IEX surged 11% in two trading days from its previous closing low of Rs 301.25 on 9 March 2021. The counter hit a record high of Rs 349 in intraday today. The stock is up 200% from its 52-week low of Rs 111.05 posted on 23 March 2020.
On the BSE, 4.89 lakh shares were traded in the counter so far compared with average daily volumes of 2.11 lakh shares in the past two weeks.
The counter saw demand after the company on Wednesday announced a strategic divestment of 26% of its equity holding in Indian Gas Exchange (IGX) to National Stock Exchange of India and additional 5% equity holding to ONGC. Under the agreement, NSE will purchase 1,92,07,500 equity shares having a face value of Rs 10 each representing 26% stake of IGX from IEX for Rs 19.20 crore. Further, ONGC will purchase 36,93,750 equity shares representing 5% stake in IGX from IEX for Rs 3.69 crore.

India , Hazira , Haryana , Dahej , Gujarat , Indian-energy-exchange , Indian-gas-exchange , National-stock-exchange-of-india , National-stock-exchange , Total-gas , Torrent-gas

Power Grid Corp acquires Ramgarh New Transmission for Rs 5.61 cr

State-run Power Grid Corporation of India (PGCIL) on Tuesday said it has acquired Ramgarh New Transmission (RNTL), which it has won in a tariff-based competitive bidding.PGCIL, pursuant to its selection as the successful bidder under tariff-based competitive bidding, has on 9 March 2021 acquired RNTL, the project SPV (special purpose vehicle) to establish transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under phase II - Part A, on build, own, operate and maintain (BOOM) basis from the bid process coordinator - REC Power Distribution Company.
The transmission system comprises establishment of a new 400/220kV Substation, 400kV DIC Transmission lines and associated Substation extension works in Rajasthan. The transmission system is an inter state transmission system project and is to be completed in 18 months.

India , Ramgarh , Rajasthan , Power-grid-corporation-of-india , Power-distribution-company , State-run-power-grid-corporation , Ramgarh-new-transmission , Capital-market , States-and-union-territories-of-india , Energy-in-tamil-nadu , Rewa-ultra-mega-solar

Ministry of Power Says Average Rural Power Supply Increased From 12.5 Hours In 2014-15 To 18.5 Hours In 2019-20

Ministry of Power has informed that the average rural power supply duration has increased from 12.5 hours in 2014-15 to 18.5 hours in 2019-20. The 100% village electrification has been achieved 13 days before target while 100% Household electrification has been achieved under Saubhagya scheme.
The Electricity (Rights of Consumers) Rules were rolled out by Power Ministry in December, 2020, with emphasis that power system exists to serve consumers with mandated service standards and mandatory round the clock call center. The country has been transformed from a Power Deficit to Power Surplus Nation as at present the total installed capacity in country is 3.77 lakh MW as compared to Peak Demand of 1.89 lakh MW.

Ministry-of-power , Power-ministry , Power-deficit , Power-surplus-nation , Peak-demand , Capital-market , Hydroelectric-power-in-himachal-pradesh , Hydroelectricity-in-india , Energy-in-india , Energy , 3-77

NTPC, Jubilant Foodworks, Tata Consumer in focus

NTPC informed that consequent upon successful commissioning, 5 MW last part capacity for 20 MW Auraiya Solar PV Project at Auraiya, UP, has been declared on Commercial Operation with effect from 20 February 2021.
Jubilant Foodworks announced it will fully acquire Fides Food Systems Coeratief U.A., Netherlands (Fides) for an agreed investment of approximately GBP 24.80 million through its wholly owned subsidiary - Jubilant Foodworks Netherlands B.V.
Tata Consumer Products has successfully completed the acquisition of 100% of the equity share capital of the Kottaram Agro Foods. Consequently, Kottaram Agro Foods has become wholly owned subsidiary of the company.
Aarti Drugs informed that Pinnacle Life Science LLC, a Wholly Owned Subsidiary of the company, incorporated at "International Free Zone Authority" (IFZA), Fujairah, UAE, has been closed / wound-up.

Netherlands , Grand-cayman , 00 , Cayman-islands , Narayana-hrudayalaya , Pinnacle-life-science , International-free-zone-authority , Health-city-cayman-islands , Camana-bay-development , Commercial-operation , Consumer-products , Kottaram-agro

NTPC completes trial operation of 800 MW Unit 2 of Gadarwara STPP

NTPC announced that based on achievement of
approved norms, Unit-2 of 800 MW capacity of Gadarwara Super Thermal Power Project has successfully
completed trial operation and consequently included in the installed capacity of NTPC.
With this, the total installed capacity of NTPC and NTPC group has become 52110 MW and 64875 MW
respectively.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

Gadarwara , Madhya-pradesh , India , Gadarwara-super-thermal-power-project , Capital-market , Districts-of-india , States-and-union-territories-of-india , Bse-sensex , Ministry-of-power , Nifty-50 , Ntpc-limited

NPTC commissions Unit 4 of Kameng Hydro-Electric Project (4x150 MW)

NTPC announced that consequent upon successful
commissioning, Unit-4 of 150 MW of Kameng Hydro-Electric Project (4x150 MW) of North Eastern
Electric Power Corporation (a wholly owned subsidiary company of NTPC ) has been
declared on commercial operation w.e.f. 00:00 Hrs. of 12 February 2021.
With this, the commissioned and commercial capacity of NTPC group has become 64075 MW.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

Kameng , India-general , India , Eastern-electric-power-corporation , Kameng-hydro-electric-project , North-eastern-electric-power-corporation , Capital-market , Bse-sensex , Ministry-of-power , Nifty-50 , Ntpc-limited

GAIL (India) acquires 5% equity stake in Indian Gas Exchange

GAIL (India) has signed a Share Purchase and
Shareholders Agreement (SPSHA) with IGX and Indian Energy Exchange (IEX), the promoter and parent company of IGX for acquisition of 5% equity stake in Indian Gas Exchange.
In order to increase the share of natural gas in primary energy mix of the country, Government
of India is promoting Gas Trading Exchanges where natural gas can be supplied / traded
through an efficient market-based mechanism.
It is expected that this partnership will play a
role in achieving the Government of India's vision for increasing the share of natural gas from
6 percent to 15 percent.
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India , Indian-energy-exchange , Indian-gas-exchange , Share-purchase , Shareholders-agreement , Indian-gas , Gas-trading-exchanges , Capital-market , Nifty-50 , Energy-in-india , Energy

IEX divests 5% stake of IGX to GAIL (India)

Indian Energy Exchange (IEX) on Tuesday announced further divestment of 5% equity stake in the Indian Gas Exchange (IGX) to GAIL (India).GAIL (India) will purchase 36,93,750 equity shares, having a face value of Rs 10 each, of IGX for a cash consideration of Rs 3.69 crore. The deal will be completed within a period of ten days from the date of execution of the share purchase and shareholders agreement. The announcement was made during trading hours today, 9 February 2021.
Speaking on the development, S N Goel, the chairman of IEX and director of IGX, has said that: "With strong impetus from the government to create a conducive policy and regulatory framework, gas markets are on the cusp of breakthrough growth. Competitive domestic gas markets are crucial to build a gas-based economy. In line, IGX is pro-actively working in collaboration with the stakeholders to build gas markets ecosystem in the country. We are delighted to welcome GAIL onboard as our partner and unite our strengths to realize India's vision of a gas-based economy."

India , Indian-energy-exchange , Escerts-energy-saving-certificates , Indian-gas-exchange , Renewable-energy-certificates-recs , Gas-exchange-regulations , Adani-total-gas , Torrent-gas , Natural-gas-regulatory-board , Renewable-energy-certificates , Energy-saving-certificates