Shares of Canara Bank shed 0.47% to currently trade at Rs 102.42 on the BSE. The said collaboration aims to simplify access to solar energy solutions for households by providing attractive financing options, empowering citizens to transition to a more sustainable energy future. As part of the initiative, households can benefit from tailored financing options under the PM Surya Ghar Scheme, designed to make rooftop solar installations more accessible and affordable. For systems with a capacity of up to 3 kW, the scheme offers loans of up to Rs 2 lakh with a 10% margin money requirement, collateral-free financing, a competitive interest rate of 7% per annum, and tenure of up to 10 years. For systems between 3 kW and 10 kW, the scheme provides loans of up to Rs 6 lakh with a 20% margin money requirement, collateral-free financing, and interest rates at 10% per annum, with a maximum tenure of 10 years. These options ensure financial flexibility and support households in their transition to clean energy solutions, it added. Deepesh Nanda, CEO & MD, TPREL, said, 'This initiative aligns perfectly with Tata Power Renewable Energy Limited's mission to drive the widespread adoption of solar energy in India. Our partnership with Canara Bank marks a significant step in accelerating the adoption of rooftop solar systems nationwide. By offering affordable financing options under the PM Surya Ghar Scheme, we aim to make clean energy solutions accessible to every household, fostering a sustainable energy ecosystem and advancing India's renewable energy objectives.' R. Anuradha, GM, Retail Assets, Canara Bank, said, 'Canara Bank is happy to collaborate with Tata Power Renewable Energy Limited to drive the implementation of the PM Surya Ghar Scheme. Through this partnership, we are providing households with the financial tools to embrace solar energy, reducing their energy costs while contributing to India's sustainability goals. This initiative reflects our shared commitment to environmental stewardship and a cleaner, greener future. TPREL, recognized as India's No. 1 solar rooftop company, leads the market with over 100,000 satisfied customers. The company offers comprehensive solutions across various sectors, including residential, commercial, and industrial, MSMEs, large enterprises, and group captives, demonstrating a strong commitment to meeting diverse energy needs. Tata Power Company is one of India's largest integrated power companies, and together with its subsidiaries and jointly controlled entities, it has an installed/managed capacity of 14,453 MW. The company has a presence across the entire power value chain'generation of renewable as well as conventional power, including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading. Canara Bank is an Indian public sector bank. As on 30 September 2024, the bank has 9,658 branches, out of which 3,115 are rural, 2,778 semiurban, 1,918 urban & 1,847 metro along with 9,881 ATMs. The bank is also having 4 overseas branches in London, New York, Dubai and Gift City.Powered by Capital Market - Live

Tata Power Company Ltd dropped for a fifth straight session today. The stock is quoting at Rs 426, down 0.57% on the day as on 13:17 IST on the NSE. The benchmark NIFTY is down around 0.38% on the day, quoting at 24673.75. The Sensex is at 81773.57, down 0.44%.Tata Power Company Ltd has gained around 5.26% in last one month.Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has increased around 0.69% in last one month and is currently quoting at 37194.2, down 0.5% on the day. The volume in the stock stood at 28.39 lakh shares today, compared to the daily average of 104.14 lakh shares in last one month. The benchmark December futures contract for the stock is quoting at Rs 426.35, down 0.83% on the day. Tata Power Company Ltd jumped 26.39% in last one year as compared to a 15.2% rally in NIFTY and a 13.8% spurt in the Nifty Energy index.The PE of the stock is 43.88 based on TTM earnings ending September 24.Powered by Capital Market - Live

In an exchange filing, the company said that India's first large-scale solar project to combine single-axis trackers and bi-facial modules, spanning 1,635.63 acres, has set a new benchmark for solar energy generation in India. This innovative project, which boosts efficiency by over 15%, was won through a competitive bidding process and built despite challenges such as rocky terrain and remote logistics, it added. Deepesh Nanda, CEO and managing director of Tata Power Renewable Energy, said, 'We are thrilled to announce the successful commissioning of the 431 MW DC solar project in Neemuch. At Tata Power Renewables, we are proud to lead the way towards a greener future for India, and this project is a testament to our commitment to sustainable energy and innovation while working tirelessly to enhance efficiency and reliability in India's solar sector. We are confident that this project will not only reduce our carbon footprint but also strengthen our role in powering key infrastructure, including Western Central Railways and Madhya Pradesh Power Management Co.' The project contributes to sustainability with an estimated CO2 offset of 7,80,300 tonnes. It meets the highest engineering standards, with SCADA commissioning ensuring optimal performance. CEA compliance ensures smooth operation of the Static Var Generator (SVG), while harmonic filters maintain WRLDC compliance. Additionally, the project ensures a reliable power supply to Western Central Railways and Madhya Pradesh Power Management Company Limited, strengthening the region's energy infrastructure. Tata Power Company is one of India's largest integrated power companies, and together with its subsidiaries and jointly controlled entities, it has an installed/managed capacity of 14,453 MW. The company has a presence across the entire power value chain'generation of renewable as well as conventional power, including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading. The company's consolidated net profit increased 7.44% to Rs 1,093.08 crore, despite a 0.26% increase in revenue from operations to Rs 15,697.67 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

The equity barometers continued to extend gains and hit fresh day's high in the afternoon trade. The Nifty further marched above the 23,700 level. Barring the Nifty Media index, all the other sectoral indices traded in the green. At 13:26 IST, the barometer index, the S&P BSE Sensex, rallied 1,200.02 points or 1.56% to 78,355.81. The Nifty 50 index added 364.80 points or 1.56% to 23,714.70. The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index advanced 1.07% and the S&P BSE Small-Cap index rallied 0.74%. The market breadth was strong. On the BSE, 2,354 shares rose and 1,490 shares fell. A total of 140 shares were unchanged. Economy: The HSBC Flash India Composite Output Index stood at 59.5 in November as compared with 59.1 recorded in October, indicating a sharp rate of expansion that was the strongest in three months and above its long-run average. The HSBC flash India services PMI business activity index stood 59.2 in November as against 58.5 in October 2024. The HSBC India Manufacturing PMI data stood at 57.3 in November, down marginally from 57.5 in October. The HSBC Flash India Manufacturing PMI Output Index fell to 60.2 in November as against 60.4 in October 2024 Gainer & Losers: State Bank of India (up 3.79%), Tata Consumer Products (up 3.16%), Trent (up 3.12%), Ultratech Cement (up 2.66%) and Adani Enterprises (up 2.58%) were major Nifty gainers. Axis Bank (down 0.18%) and HDFC Bank (down 0.01%) were major Nifty losers. Stocks in Spotlight: Tata Power Company rose 1.29% after the company signed a memorandum of understanding (MoU) with Asian Development Bank for $4.25 billion to finance key clean energy power projects. Raymond rallied 7.04% after the company received a 'No observation letter' from the NSE & BSE for the scheme of arrangement between the company and Raymond Realty. Ceenik Exports (India) locked in an upper circuit of 5% after the company reported standalone net profit of Rs 4.28 crore in Q2 FY25, steeply higher than Rs 0.13 crore posted in Q2 F24. Total income from operations was at Rs 6.48 crore in the second quarter of FY25, zoomed 867.16% year on year. Innovators Facade Systems jumped 6.41% after the company received the work order for the Prestige Trade Centre project from Prestige Mulund Realty worth Rs 110 crore. Global Markets: Shares in Europe advanced on Friday as investors closely monitored further escalations in the Russia-Ukraine war. Asian stocks traded mixed as traders assessed Japan's manufacturing sector and consumer price index data. Japan's manufacturing sector contracted for the fifth consecutive month in November, as indicated by the preliminary au Jibun Bank flash PMI, which fell to 49.0 from 49.2 in October. Japan's October consumer price index (CPI) data revealed a slight uptick in headline inflation and a further rise in core inflation, surpassing the Bank of Japan's 2% target. This development fuels expectations of additional interest rate hikes. US equities closed higher on Thursday, though tech stocks continued to face pressure following Alphabet's decline due to regulatory concerns. Uncertainty surrounding interest rates persisted, fueled by slightly elevated jobless claims and cautious remarks from Federal Reserve officials. At the close in NYSE, the Dow Jones Industrial Average rose 1.06%, while the S&P 500 index gained 0.53%, and the NASDAQ Composite index gained 0.04%. On the economic front, weekly jobless claims fell to 213,000 for the week ending 16th November, down from 219,000 the previous week. This data signals ongoing strength in the U.S. labour market. Alphabet Inc. shares declined 0.4% in after-hours trading following a 4.7% drop during the regular session on Thursday. The Department of Justice (DOJ) has proposed that Google divest its Chrome web browser to mitigate its dominance in online search. Additionally, the DOJ recommended that Google share its data and search results with competitors and potentially sell its Android operating system. These recommendations follow a recent court ruling that declared Google's online search monopoly illegal. The broader tech sector was also impacted by Nvidia's mixed third-quarter results. While the company exceeded earnings expectations on strong AI demand, it forecast a slower revenue growth rate for the current quarter. Powered by Capital Market - Live

The MoU outlines the evaluation of financing for key ongoing projects, such as the 966 MW solar-wind hybrid project, pumped hydro storage project, and other projects in the pipeline related to energy transition, decarbonization, and battery storage. It also includes ongoing financing for capital expenditures (capex) to strengthen the distribution networks managed by Tata Power. The company stated that this agreement coincides with the ongoing climate conference (COP29) at Baku, Azerbaijan, aimed at enhancing India's power infrastructure and promoting renewable and clean energy. Praveer Sinha, CEO & managing director of Tata Power, said, 'This MoU reinforces our commitment to advancing India's clean and renewable energy capacity and modernizing our power infrastructure, ensuring sustainable and inclusive growth. These initiatives align with India's ambitious clean energy goals, contributing to energy security and environmental resilience.' ADB Director General for Private Sector Operations Suzanne Gaboury said, 'ADB is committed to fostering partnerships that promote sustainability and energy security across Asia and the Pacific. As part of this strategy, our engagement with Tata Power reflects a shared vision for a low-carbon, inclusive, and climate-resilient future, supporting India's transition toward sustainable energy solutions.' The company stated that this partnership is pivotal as India accelerates its journey toward achieving its renewable energy target of 500 GW by 2030. The projects under evaluation, such as the large-scale solar-wind hybrid systems and advanced hydro storage solutions, signify an investment in the future of India's clean energy infrastructure. Through initiatives like these, Tata Power aims to strengthen the nation's capacity for renewable energy, reduce dependency on fossil fuels, and foster a sustainable, energy-secure future. Tata Power Company is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 14,453 MW. The company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading. The company's consolidated net profit increased 7.44% to Rs 1,093.08 crore despite of 0.26% increase in revenue from operations to Rs 15,697.67 crore in Q2 FY25 over Q2 FY24. Shares of Tata Power rose 0.94% to Rs 412.30 on the BSE. Powered by Capital Market - Live

The frontline indices traded with substantial gains in early trade. The Nifty traded around the 23,500 level. Barring the Media index, all the other sectoral indices on the NSE were traded in green. At 09:28 IST, the barometer index, the S&P BSE Sensex gained 478.81 points or 0.62% to 77,650.57. The Nifty 50 index added 148.30 points or 0.64% to 23,498.20. In the broader market, the S&P BSE Mid-Cap index rallied 0.62% and the S&P BSE Small-Cap index rose 0.54%. The market breadth was strong. On the BSE, 2,133 shares rose and 649 shares fell. A total of 119 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 5,320.68 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,200.16 crore in the Indian equity market on 19 November 2024, provisional data showed. Stocks in Spotlight: Tata Power Company advanced 1.65% after the company has signed memorandum of understanding (MoU) with Asian Development Bank for $4.25 billion to finance key clean energy power projects. Afcons Infrastructure rose 1.26% after the company received letter of acceptance (LoA) from Uttarakhand Project Development and Construction Corporation for civil works worth Rs 1,274 crore. Hyundai Motor India shed 0.12%. The company to set up two renewable energy plants in Tamil Nadu and has signed a Power Purchase and Shareholder Agreement with Fourth Partner Energy. It currently fulfils 63% of its energy requirements using renewable sources (as on June 2024), and aims to reach the 100% mark ahead of most automakers in the country. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.14% to 6.961 as compared with previous close 6.951. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.4950, compared with its close of 84.5075 during the previous trading session. MCX Gold futures for 5 December 2024 settlement rose 0.45% to Rs 77,035. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 107.03. The United States 10-year bond yield fell 0.54% to 4.410. In the commodities market, Brent crude for January 2024 settlement gained 16 cents or 0.22% to $74.39 a barrel. Global Markets: Most Asian stocks advanced on Friday, buoyed by Wall Street's gains and a tempered reaction to Nvidia Corp.'s revenue outlook. Bitcoin continued its upward move, nearing the $100,000 mark, while the US dollar strengthened. Japan's manufacturing sector contracted for the fifth consecutive month in November, as indicated by the preliminary au Jibun Bank flash PMI, which fell to 49.0 from 49.2 in October. Japan's October consumer price index (CPI) data revealed a slight uptick in headline inflation and a further rise in core inflation, surpassing the Bank of Japan's 2% target. This development fuels expectations of additional interest rate hikes. US equities closed higher on Thursday, though tech stocks continued to face pressure following Alphabet's decline due to regulatory concerns. Uncertainty surrounding interest rates persisted, fueled by slightly elevated jobless claims and cautious remarks from Federal Reserve officials. At the close in NYSE, the Dow Jones Industrial Average rose 1.06%, while the S&P 500 index gained 0.53%, and the NASDAQ Composite index gained 0.04%. On the economic front, weekly jobless claims fell to 213,000 for the week ending 16th November, down from 219,000 the previous week. This data signals ongoing strength in the U.S. labour market. Alphabet Inc. shares declined 0.4% in after-hours trading following a 4.7% drop during the regular session on Thursday. The Department of Justice (DOJ) has proposed that Google divest its Chrome web browser to mitigate its dominance in online search. Additionally, the DOJ recommended that Google share its data and search results with competitors and potentially sell its Android operating system. These recommendations follow a recent court ruling that declared Google's online search monopoly illegal. The broader tech sector was also impacted by Nvidia's mixed third-quarter results. While the company exceeded earnings expectations on strong AI demand, it forecast a slower revenue growth rate for the current quarter. Powered by Capital Market - Live

Tata Power and the Asian Development Bank (ADB) have signed a Memorandum of Understanding (MoU) coinciding with the ongoing Climate Conference (COP29) at Baku, Azerbaijan, to evaluate financing for its several strategic projects aimed at enhancing India's power infrastructure and promoting renewable and clean energy. The MoU outlines the evaluation of financing for several key ongoing projects such as the 966 MW Solar Wind Hybrid project and Pumped Hydro Storage Project and other projects in the pipeline around energy transition, decarbonization, and battery storage as well as ongoing financing for capex towards strengthening the distribution networks managed by Tata Power. The total estimated project cost is approximately US $4.25 billion.Powered by Capital Market - Live

The domestic equity benchmarks traded with significant losses in morning trade. The Nifty dropped below the 23,350 mark. PSU bank shares extended losses for the second consecutive trading session. At 10:26 IST, the barometer index, the S&P BSE Sensex declined 482.18 points or 0.62% to 77,095.02. The Nifty 50 index lost 176.85 points or 0.75% to 23,341.65. The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index shed 0.81% and the S&P BSE Small-Cap index fell 1.05%. The market breadth was weak. On the BSE, 1,006 shares rose and 2,642 shares fell. A total of 140 shares were unchanged. Buzzing Index: The Nifty PSU Bank index dropped 4.20% to 6,221.45. The index fell 4.79% in two consecutive trading sessions. Bank of Baroda (down 6.32%), Punjab National Bank (down 5.31%), Canara Bank (down 4.76%), State Bank of India (down 4.74%), Bank of India (down 3.47%), Central Bank of India (down 2.83%), Bank of Maharashtra (down 2.73%), UCO Bank (down 2.68%), Union Bank of India (down 2.47%) and Indian Overseas Bank (down 2.46%) declined. Stocks in Spotlight: Tata Power Company shed 0.55%. The company said that it has entered into a strategic partnership with Druk Green Corporation, a subsidiary of Druk Holding and Investments, to develop at least 5,000 megawatts of clean energy generation capacity in Bhutan. BEML slipped 0.54%. The company said that it has has secured a substantial order worth Rs 246.78 crore from Central Coalfields (CCL). Powered by Capital Market - Live

This partnership aligned with Bhutan's vision for its energy sector, which aimed to increase its overall generation capacity to 25,000 MW by 2040, ensuring energy security and promoting regional energy integration. Bhutan sought to achieve this target by diversifying its energy portfolio beyond traditional hydropower to include solar and geothermal energy. This included diversifying project structuring and financing through such strategic partnerships. This strategic partnership signifies Tata Power's pre-eminence as the most preferred clean energy partner not only in India but also as a regional leader. This partnership will help unleash Bhutan's great potential for hydropower and its important role in ensuring energy security in the region. Through this collaboration, the companies planned to develop at least 5,000 MW of renewable energy projects. This included 4,500 MW of hydropower, which encompassed the 1,125 MW Dorjilung HEP, 740 MW Gongri Reservoir, 1,800 MW Jeri pumped storage, and 364 MW Chamkharchhu IV, all to be developed in phases. Additionally, 500 MW of solar projects were planned to be developed by Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power. As part of this collaboration, Tata Power had recently acquired a 40% stake in the 600 MW Khorlochhu Hydroelectric project, with an investment of over Rs 6,900 crore for its development. Tata Power and DGPC have a long-standing relationship since 2008 when the two companies joined forces to successfully develop the 126 MW Dagachhu Hydropower Plant as the first public private partnership in Bhutan's hydropower sector. Tata Power also has a transmission project of a 1,200 km long Tala transmission line that evacuates clean power from Bhutan to India. Tata Power has emerged as a leader in the renewable energy space, with a robust clean and green portfolio crossing 12.9 GW (6.4 GW operational, 6.5 GW under construction) which constitutes 42% of its total capacity, and is well-positioned to expand this to 70% by 2030. Tata Power has over 100 years of experience in hydropower generation and is emerging as a key player in pumped hydro storage projects. The Company is committed to supporting India's successful energy transition, it added. Praveer Sinha, CEO & MD, Tata Power, said, 'Tata Power's partnership with Druk Green Power Corporation reinforces our credentials as the most preferred clean energy partner in the region. Together, we are building 5000 MW of clean energy capacity that will help harness Bhutan's hydropower potential and support both countries' growing energy demands with reliable and round-the-clock clean energy supply. Together we are shaping a new energy era. Dasho Chhewang Rinzin, MD, DGPC said, 'This strategic partnership with Tata Power is in keeping with Bhutan's aspirations to maximize benefits to the people of Bhutan through fast-tracking the harnessing of its huge renewable energy resources for its economic development and long-term energy security. Bhutan places a lot of confidence in Tata Power and the partnership to deliver on these expectations.' Tata Power Company is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 14,453 MW. The company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading. The company's consolidated net profit increased 7.44% to Rs 1,093.08 crore despite of 0.26% increase in revenue from operations to Rs 15,697.67 crore in Q2 FY25 over Q2 FY24. Shares of Tata Power Company fell 1.90% to currently trade at Rs 400.35 on the BSE. Powered by Capital Market - Live

Tata Power Company Ltd is up for a third straight session today. The stock is quoting at Rs 414, up 2.3% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.25% on the day, quoting at 23745.85. The Sensex is at 78326.94, up 1.28%. Tata Power Company Ltd has slipped around 8.77% in last one month. Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has slipped around 9.26% in last one month and is currently quoting at 36757.2, up 1.18% on the day. The volume in the stock stood at 60.86 lakh shares today, compared to the daily average of 116.46 lakh shares in last one month. The benchmark November futures contract for the stock is quoting at Rs 415.1, up 2.33% on the day. Tata Power Company Ltd is up 58.71% in last one year as compared to a 20.57% jump in NIFTY and a 31.47% jump in the Nifty Energy index.The PE of the stock is 41.47 based on TTM earnings ending September 24.Powered by Capital Market - Live