logo
Adani Power share price rises 7% on 1500 MW Thermal Power supply agreement in the state of Uttar Pradesh

Adani Power share price rises 7% on 1500 MW Thermal Power supply agreement in the state of Uttar Pradesh

Mint12-05-2025

Stock Market Today: Adani Power share price gained 7% in the morning trades on Monday as it announced Receipt of Letter of Award for 1500 MW Power Supply Agreement in the state of UP (Uttar Pradesh)
Adani Power release intimated the exchanges on 10 May 2025 that Adani Power Limited has received a Letter of Award ('LOA') from Uttar Pradesh Power Corporation Limited ('UPPCL') for procurement of 1,500 MW from a new thermal power project of 2x800MW (1600 MW) installed capacity situated in the State of Uttar Pradesh for a period of 25 years.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations
Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations

India Gazette

timean hour ago

  • India Gazette

Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations

Bern [Switzerland], June 11 ( ANI): The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Swissmem -- Switzerland's leading mechanical and electrical engineering industries association -- have formalised a three-year partnership agreement aimed at strengthening business cooperation between the two nations. The Memorandum of Understanding (MoU) was signed on Tuesday at the Swissmem Industry Day in Bern. It establishes a comprehensive framework for enhanced trade relations, technology transfer, and investment opportunities between Indian and Swiss companies. Commerce Minister Piyush Goyal just completed his two-day visit to Switzerland. His next trip is to Sweden. The Indo-Swiss partnership encompasses several key areas of collaboration designed to benefit member companies from both organisations. The agreement enables both chambers to exchange crucial market intelligence, including information on trade opportunities, investment prospects, economic policies, and foreign trade legislation affecting both countries. The partnership will facilitate technology transfer initiatives and joint ventures between Indian and Swiss companies, particularly in the mechanical and electrical engineering sectors where Swissmem members excel. Both the industry bodies commit to supporting trade missions, study groups, and mutual participation in industrial exhibitions and trade fairs, helping member companies establish direct business connections. The MoU provides for joint workshops, technical seminars, and conferences that will showcase new products and emerging technologies to business communities in both countries. ASSOCHAM, headquartered in New Delhi, represents one of India's most influential business advocacy organizations, while Swissmem serves as the voice of Switzerland's precision engineering and technology sectors. The partnership comes at a time when both countries are seeking to diversify their trade relationships and strengthen economic ties. 'This agreement creates a structured platform for our member companies to explore new markets and forge meaningful business partnerships,' said a representative familiar with the negotiations. The framework is expected to be particularly beneficial for small and medium enterprises looking to expand internationally. The partnership includes robust provisions for intellectual property protection, with any jointly developed IP to be co-owned by both parties. Confidentiality protocols ensure sensitive business information shared through the collaboration remains protected for up to three years post-agreement. The MoU establishes clear guidelines for joint branding and promotional activities, requiring written approval for the use of organizational logos in collaborative initiatives. All specific projects under the agreement will be governed by separate detailed contracts addressing financial arrangements and implementation procedures. The agreement is valid through June 2028 and can be renewed by mutual consent. Either party may terminate the partnership with three months' written notice, though termination would not affect ongoing projects initiated under the framework. Both organisations have committed to resolving disputes through mutual consultation, emphasising the partnership's collaborative spirit. The non-binding nature of the agreement provides flexibility while establishing clear expectations for cooperation. (ANI)

Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations
Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations

Time of India

time2 hours ago

  • Time of India

Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations

The Associated Chambers of Commerce and Industry of India ( ASSOCHAM ) and Swissmem -- Switzerland's leading mechanical and electrical engineering industries association -- have formalised a three-year partnership agreement aimed at strengthening business cooperation between the two nations. The Memorandum of Understanding (MoU) was signed on Tuesday at the Swissmem Industry Day in Bern. It establishes a comprehensive framework for enhanced trade relations, technology transfer, and investment opportunities between Indian and Swiss companies. Commerce Minister Piyush Goyal just completed his two-day visit to Switzerland. His next trip is to Sweden. The Indo-Swiss partnership encompasses several key areas of collaboration designed to benefit member companies from both organisations. The agreement enables both chambers to exchange crucial market intelligence, including information on trade opportunities, investment prospects, economic policies, and foreign trade legislation affecting both countries. Live Events The partnership will facilitate technology transfer initiatives and joint ventures between Indian and Swiss companies, particularly in the mechanical and electrical engineering sectors where Swissmem members excel. Both the industry bodies commit to supporting trade missions, study groups, and mutual participation in industrial exhibitions and trade fairs, helping member companies establish direct business connections. The MoU provides for joint workshops, technical seminars, and conferences that will showcase new products and emerging technologies to business communities in both countries. ASSOCHAM, headquartered in New Delhi, represents one of India's most influential business advocacy organizations, while Swissmem serves as the voice of Switzerland's precision engineering and technology sectors. The partnership comes at a time when both countries are seeking to diversify their trade relationships and strengthen economic ties. "This agreement creates a structured platform for our member companies to explore new markets and forge meaningful business partnerships," said a representative familiar with the negotiations. The framework is expected to be particularly beneficial for small and medium enterprises looking to expand internationally. The partnership includes robust provisions for intellectual property protection, with any jointly developed IP to be co-owned by both parties. Confidentiality protocols ensure sensitive business information shared through the collaboration remains protected for up to three years post-agreement. The MoU establishes clear guidelines for joint branding and promotional activities, requiring written approval for the use of organizational logos in collaborative initiatives. All specific projects under the agreement will be governed by separate detailed contracts addressing financial arrangements and implementation procedures. The agreement is valid through June 2028 and can be renewed by mutual consent. Either party may terminate the partnership with three months' written notice, though termination would not affect ongoing projects initiated under the framework. Both organisations have committed to resolving disputes through mutual consultation, emphasising the partnership's collaborative spirit. The non-binding nature of the agreement provides flexibility while establishing clear expectations for cooperation.

Adani Power shares snap 5-day rally, slip over 1% amid profit-taking
Adani Power shares snap 5-day rally, slip over 1% amid profit-taking

Economic Times

time4 hours ago

  • Economic Times

Adani Power shares snap 5-day rally, slip over 1% amid profit-taking

Shares of Adani Power slipped as much as 1.2% on Wednesday to Rs 589 on the BSE, snapping a five-day rally that saw the stock surge nearly 12% since June 3. The decline appears to reflect profit-booking after a sharp upward move driven by a combination of technical strength and long-term growth triggers. ADVERTISEMENT The stock had rallied to an intraday high of Rs 610 on Tuesday, gaining 8.2% during the session and marking its fifth consecutive day of gains. Despite a mixed March-quarter performance—with net profit falling 4% year-on-year to Rs 2,637 crore and a sequential decline of 14%—investor sentiment remained upbeat, supported by long-term order wins and capacity expansion plans. Revenue for the quarter rose 6.5% YoY to Rs 14,237 crore, though it fell 4% compared to the December quarter. Total expenses during the period surged 9% YoY to Rs 11,274 crore. The recent rally was partially driven by Adani Power's announcement in May of a Rs 2 billion greenfield thermal power project. The company secured a Letter of Award to supply 1,500 MW of electricity to Uttar Pradesh Power Corporation Ltd under a long-term power purchase agreement. ADVERTISEMENT The power will be generated from a 2×800 MW ultra-supercritical plant, developed under the DBFOO (Design, Build, Finance, Own, and Operate) InCred Equities, which initiated coverage in May with an 'Add' rating and a price target of Rs 649, described Adani Power as a 'pure play on the Indian thermal space.' It noted that the company generated Rs 200 billion in recurring EBITDA in FY25, backed by a stable revenue mix. ADVERTISEMENT InCred also highlighted the company's merchant power exposure via the Indian Energy Exchange (IEX), with realised prices ranging from Rs 5–6/kWh and peaking at Rs 10/ ahead, Adani Power plans to expand capacity from 17.55 GW to 30.67 GW by FY30, including brownfield additions such as Mahan Phase II (1.66 GW), Raipur Phase II (1.66 GW), and Korba Revival (1.32 GW). InCred noted that this expansion aligns with India's projected 5–6% annual power demand growth, which is expected to drive peak demand to 458 GW by FY32F. ADVERTISEMENT Despite muted earnings, technical indicators remained supportive. The stock has been trading above all eight key simple moving averages—from the 5-day to the 200-day SMA. The Relative Strength Index (RSI) stood at 68.8, near the overbought threshold of 70, while the MACD reading of 6.9 stayed above both its center and signal lines, reinforcing bullish momentum until the latest the stock has gained 15.4% over the past month and 8.5% in the past week, it remains down 23% over the past year, underperforming both the Nifty 50 and Nifty Energy indices. ADVERTISEMENT According to Trendlyne, analyst sentiment remains strong, with a consensus 'Strong Buy' rating on the stock. Also read | From bankruptcy to bull run: Can Reliance Infra & Reliance Power fuel Anil Ambani's comeback saga? (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store