The said project will see the largest deployment of grid storage batteries at a single site, not only in India but also in Asia, besides China. The competitive tariff with an assured supply of peak power for 4 hours in a day will be a welcome relief for DISCOMs that have had to consistently buy power from the power exchanges during peak hours at the cap of Rs 10 per unit. Reliance NU Suntech won the landmark 930 MW solar energy contract with battery energy storage system project (BESS) from Solar Energy Corporation of India (SECI) in an e-reverse auction held on 9th December 2024. As per the terms of the tender, Reliance NU Suntech will also install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power. Reliance NU Suntech for a period of 25 years, and the solar power procured will be sold to multiple discoms in India. Reliance NU Suntech will develop the project on a build-own-operate basis. Reliance Power, a part of the Reliance Anil Dhirubhai Ambani Group, is India's leading private sector power generation and coal resources company. The projects under development include coal, gas, hydro, wind and solar-based energy projects. The company's operating portfolio includes ultra-megapower projects (UMPPs) of 5,945 MWs. The company is primarily engaged in the business of generation of power. The company reported net profit of Rs 2,878.15 crore in Q2 FY25 as against net loss of Rs 237.76 crore posted in Q2 FY24. However, the company's revenue from operations declined 13.6% to Rs 1,759.81 crore in the quarter ended 30 September 2024. Shares of Reliance Power fell 0.28% to Rs 47.10 on the BSE.Powered by Capital Market - Live

Reliance Power subsidiary, Reliance NU Suntech has received the Letter of Award from Solar Energy Corporation of India (SECI) for its proposed Solar 930 MW and 465 MW/1860 MWh Battery Energy Storage System (BESS) projects. The project will see the largest deployment of grid storage batteries at a single site, not only in India but also in Asia, besides China. The competitive tariff with assured supply of peak power for 4 hours in a day will be a welcome relief for DISCOMs that have had to consistently buy power from the power exchanges during peak hours at the cap of Rs 10 per unit. Reliance NU Suntech won the landmark 930 MW solar energy contract with battery energy storage system project (BESS) from Solar Energy Corporation of India (SECI) in an e-reverse auction held on 9 December 2024. As per the terms of the tender, Reliance NU Suntech will also install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power.Powered by Capital Market - Live

The frontline indices continued trade with minor losses in the mid-morning trade. The Nifty hovered below the 24,600 level. PSU bank shares extended losses for the second consecutive trading session. Trading was volatile due to the weekly F&O series expiry today. At 10:29 IST, the barometer index, the S&P BSE Sensex, declined 87.53 points or 0.11% to 81,438.61. The Nifty 50 index fell 43.35 points or 0.18% to 24,596.45. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.37% and the S&P BSE Small-Cap index slipped 0.63%. The market breadth was weak. On the BSE, 1,519 shares rose and 2,292 shares fell. A total of 134 shares were unchanged. IPO Update: The initial public offer (IPO) of One MobiKwik Systems received bids for 11,36,91,890 shares as against 1,18,71,696 shares on offer, according to stock exchange data at 11:03 IST on 12 December 2024. The issue was subscribed to 9.58 times. The issue opened for bidding on 11 December 2024 and it will close on 13 December 2024. The price band of the IPO is fixed between Rs 265 and Rs 279 per share. An investor can bid for a minimum of 53 equity shares and in multiples thereof. The initial public offer (IPO) of Vishal Mega Mart received bids for 50,91,96,960 shares as against 75,67,56,757 shares on offer, according to stock exchange data at 11:03 IST on 12 December 2024. The issue was subscribed 0.67 times. The issue opened for bidding on 11 December 2024 and it will close on 13 December 2024. The price band of the IPO is fixed between Rs 74 and Rs 78 per share. An investor can bid for a minimum of 190 equity shares and in multiples thereof. The initial public offer (IPO) of Sai Life Sciences received bids for 3,43,30,311 shares as against 3,88,29,848 shares on offer, according to stock exchange data at 11:06 IST on 12 December 2024. The issue was subscribed 0.88 times. The issue opened for bidding on 11 December 2024 and it will close on 13 December 2024. The price band of the IPO is fixed between Rs 522 to Rs 549 per share. An investor can bid for a minimum of 27 equity shares and in multiples thereof. Buzzing Index: The Nifty PSU Bank index fell 0.81% to 7,031.95. The index slipped 1.69% in two consecutive trading sessions. Punjab & Sind Bank (down 1.7%), Bank of India (down 1.47%), Indian Bank (down 1.34%), UCO Bank (down 1.16%), Central Bank of India (down 1.08%), Canara Bank (down 0.99%), Bank of Maharashtra (down 0.97%), State Bank of India (down 0.93%), Punjab National Bank (down 0.81%) and Bank of Baroda (down 0.59%) declined. Stocks in Spotlight: Reliance Power rallied 4.47% after the company announced that its subsidiary Reliance NU Suntech won a 930 MW solar energy contract with a battery energy storage system (BESS) project from the Solar Energy Corporation of India (SECI). Godawari Power & Ispat spurted 2.95% after the company signed a seven-year deal with GAIL for RLNG gas supply to its upcoming pellet plant. Vedanta added 1.58% after the company said that its board will meet on 16 December 2024 to consider a proposal for a fourth interim dividend on equity shares for the financial year 2024-25. Gland Pharma added 1.86% after the pharmaco received approval from the United States Food and Drug Administration (USFDA) for Phytonadione Injectable Emulsion USP, 10 mg/mL single dose ampules. Global Markets: Most Asian stocks advanced on Thursday after US equities rallied on Wednesday following benign inflation data. This fueled expectations of a potential Federal Reserve interest rate cut this month. In Asia, key economic reports are due today: Australia's labor market data and India's inflation and industrial production figures. China's Central Economic Work Conference is also underway, where policymakers are expected to outline next year's economic policies, likely including stimulus measures. US markets surged on Wednesday, with the Nasdaq Composite hitting a record high. Tech stocks, particularly Tesla and NVIDIA, rallied sharply on the prospect of lower interest rates and the potential easing of regulatory scrutiny. Artificial intelligence optimism also contributed to the gains. The NASDAQ Composite surged 1.8% to a record high of 20,033.61 points, while the S&P 500 rose 0.8% to 6,084.19 points. The Dow Jones Industrial Average lagged, falling 0.2% to 44,148.56 points. The US consumer price index (CPI) rose by 2.7% last month, accelerating slightly from 2.6% in October. While stripping out more volatile items like food and fuel, the core number climbed by 3.3% in the twelve months to July, also in line with expectations.Powered by Capital Market - Live

The said order was secured through an e-reverse auction held on 9 December 2024. As part of the tender conditions, Reliance NU Suntech is required to install a minimum storage capacity of 465 MW/1,860 MWh, charged by solar energy. The Letter of Award (LoA) is awaited from SECI. Reliance NU Suntech's successful bid was placed at a tariff of Rs 3.53 ($0.0416)/kWh in SECI's Tranche XVII auction. Notably, the company secured the largest individual allocation among five bidders competing for a total quoted capacity of 2,000 MW of Inter-State Transmission System (ISTS)-connected solar power projects, along with 1,000 MW/4,000 MWh energy storage systems. This win highlights the technological progress made in solar power with BESS in India which has made it a cost-effective alternative to renewable energy options. The project will guarantee a peak power supply of four hours daily (or a four-hour discharge duration). SECI will enter into a power purchase agreement (PPA) with Reliance NU Suntech for a period of 25 years and the solar power procured will be sold to multiple discoms in India. Reliance NU Suntech will develop the project on a build-own-operate basis and will have to connect to the interstate transmission system in compliance with Central Electricity Regulatory Commission regulations for interconnection with the ISTS or InSTS. The official announcement was made after market hours on Wednesday, 11 December 2024. Reliance Power, a part of the Reliance Anil Dhirubhai Ambani Group, is India's leading private sector power generation and coal resources company. The projects under development include coal, gas, hydro, wind and solar-based energy projects. The company's operating portfolio includes ultra mega power projects (UMPPs) of 5945 MWs. The company is primarily engaged in the business of generation of power. The company reported net profit of Rs 2,878.15 crore in Q2 FY25 as against net loss of Rs 237.76 crore posted in Q2 FY24. However, the company revenue from operations declined 13.6% to Rs 1,759.81 crore in the quarter ended 30 September 2024. Powered by Capital Market - Live

Reliance Power subsidiary, Reliance NU Suntech, won a landmark 930 MW solar energy contract with battery energy storage system project (BESS) from Solar Energy Corporation of India (SECI) in an e-reverse auction held on 9 December 2024. As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power. The Letter of Award (LoA) is awaited from SECI. Reliance NU Suntech's successful bid for SECI's Tranche XVII auction was won at a tariff of ₹3.53 ($0.0416)/kWh. The company, among India's leading power generators, secured the largest individual allocation out of the five companies vying for a total quoted capacity of 2,000 MW of Inter-State Transmission System (ISTS) connected solar power projects with 1,000 MW/4,000 MWh energy storage systems. Reliance NU Suntech's win underlines the technological progress made in solar power with BESS in India which has made it a cost-effective alternative to renewable energy options. The project will guarantee a peak power supply of four hours daily (or a four-hour discharge duration). SECI will enter into a power purchase agreement (PPA) with Reliance NU Suntech for a period of 25 years and the solar power procured will be sold to multiple discoms in India. Reliance NU Suntech will develop the project on a build-own-operate basis and will have to connect to the interstate transmission system in compliance with Central Electricity Regulatory Commission regulations for interconnection with the ISTS or InSTS.  Powered by Capital Market - Live

Reliance Power announced that ICRA has reaffirmed, removed from Issuer Not-Cooperating category and withdrawn the rating in respect of Long-term fund-based - Term loans and Long-term fund based - Cash credit as there is no amount outstanding against the rated instruments. Further, ICRA has also reaffirmed the rating [ICRA] D and removed from Issuer Not-Cooperating category in respect of the Company's Non-convertible debenture and Long/Short-term non-fund-based limits. Powered by Capital Market - Live

Reliance Group companies, Reliance Power  and Reliance Infrastructure, have reconstituted their boards by elevating four senior officials of the companies to the board of directors. The newly appointed board members of Reliance Power include Ashok Pal, CFO, Reliance Power;  Sachin Mohapatra, Whole Time Director and CEO, Sasan Power; and  Harmanjit Singh Nagi, President-Corporate Development at Reliance Power.  Mohapatra and  Nagi have been appointed as Additional Directors, while Pal has been promoted to Executive Director.  Partha Sarma, President- Group Corporate Development has been appointed Additional Director of Reliance Infrastructure. The aim of the board restructuring exercise is to ensure it is led by a dynamic and young team, in alignment with the Reliance Group's Vision 2030 Growth Strategy. Ashok Pal, a Chartered Accountant with more than 25 years of experience in finance, taxation, and compliance, has been with the company for over seven years, making significant contributions as Chief Financial Officer. Sachin Mohapatra has led 4000 MW Sasan Power UMPP, one of the world's largest integrated coal-based power plants with a captive coal mine, ensuring its status as one of India's top sustainable operating plants. He has been with the Group for eight years. Harmanjit Singh Nagi brings over three decades of expertise across the Power, Energy, and Environmental sectors, with a focus on strategic leadership, project development, and business growth. As President of Corporate Development at Reliance Power, he spearheads green energy initiatives, including large-scale solar and hydroelectric projects. Partha Sarma has been associated with the Reliance Group for more than 6 years handling Group Corporate Development. He is a global business leader, having successfully set up and significantly grown businesses in Financial Services, Defence and Infrastructure. Powered by Capital Market - Live

Reliance Power will hold a meeting of the Board of Directors of the Company on 12 November 2024Powered by Capital Market - Live

Reliance Power has postponed the meeting of the Board of Directors which was scheduled to be held on 26 October 2024. The meeting will now be held on a later date.Powered by Capital Market - Live

Reliance Power will hold a meeting of the Board of Directors of the Company on 26 October 2024.Powered by Capital Market - Live