HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Power Grid, Adani Energy Solutions and RailTel Corporation to see some action today
Oct-16-2024

Power Grid Corporation of India, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has acquired South Olpad Transmission, the Project SPV to establish ‘Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase-IV (7GW): Part B’, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator – PFC Consulting.

Adani Energy Solutions (AESL) has executed Share Purchase Agreement (SPA) with PFC Consulting for acquiring 100% Equity Shares of Jamnagar Transmission (JTL). JTL Projects includes Establishment of 2x1500 MVA 765/400 kV Jamnagar (GIS) PS with 2x330 MVAR 765 kV bus reactor and 2x125 MVAR 420 kV bus reactor, setting up of around 330 km (941 ckm) transmission line and ±400 MVAr STATCOM with 3x125 MVAr MSC & 2x125 MVAr MSR at Jamnagar 400kV Bus section. This acquisition is proposed to further AESL’s strategy for enhancing value for its shareholders through organic as well as inorganic opportunities.

RailTel Corporation of India has received the work order amounting to Rs 79.84 crore (Including Tax) from Maharashtra Housing And Area Development Authority (MHADA) for Selection of Service Provider (Cloud Hosting and Managed Service) to Setup, Migrate, and Manage Data Centre (DC) and Disaster Recovery (DR) site for MHADA on Cloud.

Sterlite Technologies has invested Rs 50 crore to establish a state-of-the-art fibre skilling training centre in Telangana. Spread in an area of 10 acres, this centre will be pivotal in empowering local talent with cutting-edge and modern fibre network deployment technology and enable them to bring high-speed internet connectivity under the Bharatnet program.

HFCL has launched two revolutionary Unlicensed Band Radio (UBR) products at the India Mobile Congress 2024, Pragati Maidan, New Delhi. Promising to address the surging data demands of today’s network environments and yet maintaining sustainability, HFCL’s new launches include: (a) 1 Gbps Small Form Factor 4G/5G backhauling Radio offering unprecedented spectral and power efficiency, and (b) Energy efficient 2 Gbps Point-to-Multipoint Rural connectivity UBR. These designed in India UBR products underline HFCL’s position as a key player in the industry for 4G/5G wireless backhauling and rural connectivity solutions.

TCM has bagged work order from Mahindra Holidays and Resorts India for the Design, Supply, Installation and Commissioning of 90 KWp Grid connected SPV Power Plants at Club Mahindra Resort, Arookutty. Broad consideration or size of the order is Rs 37,89,458. The work is to be completed within 60 days.

Bank of Maharashtra has reported 44.29% rise in consolidated net profit at Rs 1327.08 crore for Q2FY25 as compared to Rs 919.75 crore for the same quarter in the previous year. Total income of the bank increased by 18.72% at Rs 6809.43 crore for Q2FY25 as compared to Rs 5735.54 crore for the corresponding quarter previous year.

  RELATED NEWS >>