Adani Energy Solutions has completed acquisition of Khavda Phase IV Part-A transmission project after receiving a letter of intent (LOI) from REC Power Development and Consultancy (RECPDCL). Khavda IVA Power Transmission, a special purpose vehicle (SPV,) set up by RECPDCL for evacuating 7 GW of Renewable Energy (RE) from Khavda RE park, under Phase IV Part A package, has been acquired by AESL to execute the project. The Khavda IVA transmission line, part of National Grid, will help evacuate 7 GW of RE by connecting 765 kV double circuit lines from Khavda to Lakadia and Khavda to Bhuj (both in Gujarat) and setting up transformation capacity of 4,500 MVA. Khavda, the world's largest renewable energy park, with a planned generation capacity of 30 GW, will immensely contribute to India's decarbonization journey. The award of this project to AESL boosts the availability of critical transmission infrastructure required for evacuation of clean energy. The Adani Group's focused approach will also ensure the transformation of Khavda from a barren stretch of land into a landmark in India's net zero journey. AESL won the project through the Tariff-Based Competitive Bidding (TBCB) process and will commission the project in the next 24 months on BOOT (Build, Own Operate, and Transfer) basis and maintain it for the next 35 years. The company will invest ~Rs 4,091 crore to build the ~298 km (596 ckm) transmission project. The project also includes setting up of 300 MVAr STATCOM and 3x1500 MVA, 765/400 kV Inter-connecting Transformer (ICTs) with 1x330 MVAr, 765 kV and 1x125 MVAr, 420 kV bus reactors. Powered by Capital Market - Live

The key equity indices traded with minor gains in early trade. The Nifty traded above the 25,300 level. FMCG, oil & gas and IT shares advanced while media, metal and PSU bank shares declined. At 09:30 IST, the barometer index, the S&P BSE Sensex gained 211.53 points or 0.24% to 82,562.71. The Nifty 50 index added 67.05 points or 0.27% to 25,302.95. The Sensex and Nifty clocked an all-time high of 82,725.28 and 25,333.65, respectively in early trade. In the broader market, the S&P BSE Mid-Cap index added 0.17% and the S&P BSE Small-Cap index rose 0.14%. The S&P BSE Mid-Cap index hit an all-time high at 49,306.56. The market breadth was strong. On the BSE, 2,033 shares rose and 1,063 shares fell. A total of 148 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 5,318.14 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,198.07 crore in the Indian equity market on 30 August 2024, provisional data showed. Stocks in Spotlight: Adani Energy Solutions added 1.23% after the company said that it has signed share purchase agreement with REC Power Development and Consultancy to buy Khavda IVA power transmission. Emami fell 2.47%. The Kolkata-based FMCG company announced the acquisition of the remaining 49.60% stake in Helios Lifestyle (Helios), which is well known for its grooming brand 'The Man Company', for a consideration of Rs 177.63 crore. Biocon rose 0.42%. The company received as establishment inspection report (EIR) from US Food and Drug Administration (USFDA) for the Visakhapatnam API facility. Meanwhile the company's arm received USFDA approval for daptomycin injection. Daptomycin is used to treat skin infections. Numbers to Track: The yield on India's 10-year benchmark federal paper jumped 1.78% to 6.985 as compared with previous close 6.863. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.8650, compared with its close of 83.8525 during the previous trading session. MCX Gold futures for 4 October 2024 settlement shed 0.16% to Rs 71,500. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 101.66. The United States 10-year bond yield rose 0.03% to 3.910. In the commodities market, Brent crude for November 2024 settlement lost 69 cents or 0.90% to $76.24 a barrel. Global Markets: Asian share markets were mildly higher on Monday as investors awaited a data-packed week, culminating in the crucial U.S. jobs report. This report could determine whether the anticipated rate cut this month will be a standard or more aggressive reduction. A Labor Day holiday in the United States and Canada contributed to thin trading conditions. Meanwhile, gains by far-right parties in German state elections added a layer of political uncertainty. Traders will be closely watching the Caixin China manufacturing PMI, due out on Monday. This follows the official gauge, which showed a fourth consecutive month of contraction in August, indicating potential challenges in meeting China's annual growth target. The country's residential property market also continued to decline last month. U.S. stocks rallied on Friday, buoyed by a report of improved consumer sentiment. This was attributed to easing inflation and expectations of Federal Reserve rate cuts, leading to optimism about personal finances. The Fed's preferred measure of underlying U.S. inflation, the core personal consumption expenditures price index, rose 0.2% month-over-month in July and 2.5% year-over-year. The Dow Jones Industrial Average closed at a new all-time high, up 0.55%. The S&P 500 gained 1.01%, reaching 5,648.40, and the tech-heavy Nasdaq Composite rose 1.13% to 17,713.62. Powered by Capital Market - Live

Securities in F&O ban: Balrampur Chini Mills Stocks to watch: Shares of auto companies will be in focus after August monthly sales announcement. Adani Energy Solutions signed share purchase agreement with REC Power Development and Consultancy to buy Khavda IVA power transmission. Fortis Healthcare will buy entire 31.52% stake held by PE investors in the material wholly owned subsidiary, Agilus Diagnostics. The company will fund this acquisition via the issuance of NCDs. Century Textiles' unit, Birla Estates in a co-development pact with LGCPL Group for a Rs 131'acre land parcel in Noida, Uttar Pradesh. Insecticides (India)'s board approved Rs 50 crore buyback at Rs 1,000 per share. The record date is set as 1 September 2024. Biocon received as establishment inspection report (EIR) from US Food and Drug Administration (USFDA) for the Visakhapatnam API facility. Meanwhile the company's arm received USFDA approval for daptomycin injection. Daptomycin is used to treat skin infections. NBCC (India)'s board has recommended the issuance of 1 bonus equity share for every 2 existing equity shares (1:2) to the eligible shareholders of the company as on the record date. The board of directors has fixed 7 October 2024 as record date. Emami to acquire the remaining 49.60% stake in Helios Lifestyle (Helios), which is well known for its grooming brand 'The Man Company', for a consideration of Rs 177.63 crore. The Anup Engineering and Graham Corporation (USA) announced a strategic partnership through a manufacturing and supply agreement, for India and International business.Powered by Capital Market - Live

Adani Energy Solutions (AESL) has executed Share Purchase Agreement (SPA) with REC Power Development and Consultancy (RECPDCL) for acquiring 100% Equity Shares of Khavda IVA Power Transmission (KPTL). KPTL project includes setting up of ~298 km (596 ckm) transmission line, 300 MVAr STATCOM and 3x1500 MVA, 765/400 kV Inter-connecting Transformer (ICTs) with 1x330 MVAr, 765 kV and 1x125 MVAr, 420 kV bus reactors. This acquisition is proposed to further AESL's strategy for enhancing value for its shareholders through organic as well as inorganic opportunities. KPTL will aim to implement evacuation of 7 GW of Renewable Energy (RE) from Khavda RE park, under Phase IV Part A package.Powered by Capital Market - Live

Adani Energy Solutions Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1048.25, down 0.48% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.17% on the day, quoting at 25052.5. The Sensex is at 81847.11, up 0.18%.Adani Energy Solutions Ltd has eased around 0.35% in last one month.Meanwhile, Nifty Energy index of which Adani Energy Solutions Ltd is a constituent, has increased around 0.48% in last one month and is currently quoting at 43792.05, down 0.33% on the day. The volume in the stock stood at 9.32 lakh shares today, compared to the daily average of 57.67 lakh shares in last one month.The PE of the stock is 340.4 based on TTM earnings ending June 24.Powered by Capital Market - Live

Adani Energy Solutions announced the closure of its QIP issue on 02 August 2024. The company has determined and approved issue price of Rs 976.00/- per equity share (including a premium of Rs 966.00 per equity share), which takes into account a discount of 4.98% (i.e. Rs 51.1125 per equity share) to the floor price of Rs 1,027.1125/- per equity share. Powered by Capital Market - Live

The key benchmark indices traded with limited gains in early trade. The Nifty traded above the 24,450 mark. Metal, Media, IT shares advanced while Private bank, FMCG and bank shares declined. At 09:28 IST, the barometer index, the S&P BSE Sensex, was up 220.76 points or 0.28% to 80,249.51. The Nifty 50 index advanced 78.30 points or 0.32% to 24,484.40. In the broader market, the S&P BSE Mid-Cap index added 0.82% and the S&P BSE Small-Cap index rose 0.56%. The market breadth was strong. On the BSE, 2,289 shares rose and 681 shares fell. A total of 105 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 2,605.49 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,431.69 crore in the Indian equity market on 25 July 2024, provisional data showed. Numbers to Track: The yield on India's 10-year benchmark federal advanced 1.63% to 7.065 as compared with previous close 6.964. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.7225, compared with its close of 83.7800 during the previous trading session. MCX Gold futures for 5 August 2024 settlement rose 0.50% to Rs 68,732. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 104.30. The United States 10-year bond yield slipped 0.28% to 4.247. In the commodities market, Brent crude for September 2024 settlement added 15 cents or 0.18% to $82.52 a barrel. Stocks in Spotlight: Adani Energy solutions jumped 2.06% after the company's consolidated revenue rose 47% YoY to Rs 5,379 crore in Q1 FY24 as compared with Rs 3,664 crore in Q1 FY24. The company reported net loss of Rs 1,190 crore as compared with net profit of Rs 182 crore in Q1 FY24. Tech Mahindra declined 3%. The company's consolidated net profit jumped 28.7% to Rs 851 crore in Q1 FY25 as compared with Rs 661 crore in Q1 FY24. Revenue rose 1% YoY to Rs 13,005 crore in Q1 FY25. Jupiter wagons rose 1.88% after the company's consolidated net profit stood at Rs 92 crorein Q1 FY25, up 46.2% as compared with Rs 63 crore in Q1 FY24. Revenue increased 16.8% Rs 880 crore in Q1 FY25. Global Markets: Dow Jones Futures were up 137 points, indicating a positive opening in the US stocks today. Asian stocks rose on Friday as investors digested Tokyo's latest inflation data and awaited key U.S. economic figures. Japan's headline inflation eased slightly to 2.2% in July, while core inflation held steady at 2.2%. The market's focus now shifts to the U.S., where the release of the personal consumption expenditure (PCE) index ' the Federal Reserve's preferred inflation gauge ' is expected to influence interest rate expectations. Meanwhile, U.S. stocks experienced a rotation away from technology shares on Thursday, with the Nasdaq Composite and S&P 500 declining. The Dow Jones Industrial Average bucked the trend with a modest gain. This shift is a common occurrence during bull markets as market leadership evolves.Powered by Capital Market - Live

Upcoming results : Cholamandalam Investment and Finance, CIPLA, City Union Bank, Equitas Small Finance Bank, GMDC, Interglobe Aviation, Indusind Bank, Intellect Design Arena, Kaynes Technology, KEC International, KFIn Technologies, Latent View Analytics, Laxmi Organics Industries, Nuvama Wealth Management, Power Grid Corporation, Piramal Pharma, Punjab and Sind Bank, Sanofi India, Shriram Finance, and TTK Prestige. Adani Energy solutions' consolidated revenue jumped 47% YoY to Rs 5,379 crore in Q1 FY24 as compared with Rs 3,664 crore in Q1 FY24. The company reported net loss of Rs 1,190 crore as compared with net profit of Rs 182 crore in Q1 FY24. Tech Mahindra's consolidated net profit jumped 28.7% to Rs 851 crore in Q1 FY25 as compared with Rs 661 crore in Q1 FY24. Revenue rose 1% YoY to Rs 13,005 crore in Q1 FY25. Jupiter wagons' consolidated net profit stood at Rs 92 crorein Q1 FY25, up 46.2% as compared with Rs 63 crore in Q1 FY24. Revenue increased 16.8% Rs 880 crore in Q1 FY25. Cyient's consolidated net profit declined 25.03% to Rs 148 crore as against Rs 197 crore in Q1 FY24. Revenue fell 9.9% to Rs 1,676 crore in Q1 FY25 as compared with Rs 1,861 crore in Q1 FY24. Mahanagar Gas' consolidated revenue increased 1.5% to Rs 1,590 crore in Q1 FY25 as compared with Rs 1,567 crore in Q1 FY24. Net profit jumped 7.4% to Rs 285 crore during the quarter as compared with Rs 265 crore posted in corresponding quarter last year. United Breweries reported consolidated net profit of Rs 173 crore, up 27.5% as compared with Rs 136 crore in Q1 FY25. Revenue jumped 10.8% YoY to Rs 2,475 crore in Q1 FY25. Glenmark Life Sciences' consolidated net profit declined 17.7% YoY to Rs 111 crore in Q1 FY25 as compared with Rs 135 crore. Revenue fell 1.8% to Rs 589 crore in Q1 FY25 from Rs 578 crore in Q1 FY24. Go Digit General Insurance's consolidated net profit jumped 73.3% YoY to Rs 101 crore. Total income increased 24.6% to Rs 2,077 crore in Q1 FY25 as compared with Rs 1,667 crore in Q1 FY24.Powered by Capital Market - Live

Net loss of Adani Energy Solutions reported to Rs 823.92 crore in the quarter ended June 2024 as against net profit of Rs 175.06 crore during the previous quarter ended June 2023. Sales rose 46.80% to Rs 5378.55 crore in the quarter ended June 2024 as against Rs 3663.91 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales5378.553663.91 47 OPM %30.6934.64 - PBDT951.17761.97 25 PBT453.32343.09 32 NP-823.92175.06 PL Powered by Capital Market - Live