Latest news with #ITC
Yahoo
3 hours ago
- Business
- Yahoo
Sunrun (RUN) Stock Trades Up, Here Is Why
Shares of residential solar energy company Sunrun (NASDAQ:RUN) jumped 3.6% in the afternoon session after analysts at both Mizuho and J.P. Morgan raised their price targets for the residential solar company. Mizuho boosted its price target significantly to $21 from $13, while maintaining an "outperform" rating on the stock. Similarly, J.P. Morgan increased its target to $16 from $13, keeping its "Overweight" rating. J.P. Morgan cited Sunrun's leadership position in the underpenetrated residential energy services market, which it expects to grow at a double-digit rate. The firm also pointed to the company's strong revenue visibility from long-term customer contracts and potential for market share gains due to favorable Investment Tax Credit (ITC) rules. These bullish analyst notes provided a positive catalyst for the stock, signaling growing confidence in Sunrun's future performance and growth prospects within the clean energy sector. After the initial pop the shares cooled down to $10.67, up 2.9% from previous close. Is now the time to buy Sunrun? Access our full analysis report here, it's free. Sunrun's shares are extremely volatile and have had 79 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 7 days ago when the stock dropped 10.6% on the news that President Donald Trump directed federal agencies to strengthen provisions to repeal or modify tax credits for solar and wind energy projects and made negative comments about the renewable energy sources. The move sent a chill through the renewable energy sector, with solar stocks bearing the brunt of the sell-off. The directive to review and potentially eliminate crucial tax incentives that have supported the industry's growth, creates significant uncertainty for companies like Sunrun, which rely on these credits to make residential solar installations more affordable for customers. The market reacted swiftly to the perceived threat to the solar industry's business model. Sunrun is up 4.5% since the beginning of the year, but at $10.67 per share, it is still trading 50.4% below its 52-week high of $21.50 from August 2024. Investors who bought $1,000 worth of Sunrun's shares 5 years ago would now be looking at an investment worth $297.91. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Muscat Daily
6 hours ago
- Business
- Muscat Daily
Janaen Salalah ITC project set to redefine agritourism
Muscat – Salalah is set to host a major agritourism destination with the launch of Janaen Salalah, an integrated tourism complex (ITC) project blending agriculture, hospitality and recreation in a single development. Led by Omran Group through its subsidiary Agritourism Development Company, the project is located in the Arzat area and aims to position Oman as a regional leader in sustainable agritourism. Janaen Salalah has been granted ITC status by Ministry of Heritage and Tourism, allowing foreign ownership and expanding its appeal to international investors. Spanning over 5.5mn sqm, the project will feature 250 residential units, a 128-key five-star hotel, processing facilities for coconuts and papayas, and areas dedicated to eco-recreation, education and wellness. The project received a boost following a field visit on Tuesday by H H Sayyid Marwan bin Turki al Said, Governor of Dhofar, and H E Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources. The officials reviewed the site's progress, with the visit marked by ceremonial planting of the first coconut trees – a symbolic step towards realising the project's agricultural goals. According to Omran, several key milestones under Phase 1 have been achieved. These include completion of the concept masterplan, feasibility studies confirming the project's viability and appointment of an experienced agriculture contractor. Initial plantation works have already begun.
Business Upturn
16 hours ago
- Business
- Business Upturn
JK Tyre receives Rs 8.78 crore GST order on input tax credit reversal; no material impact on operations
By Aditya Bhagchandani Published on July 15, 2025, 13:59 IST JK Tyre & Industries Ltd informed the exchanges on July 15 that it has received an order from the Commissioner (Appeals), CGST & Central Excise, Bhopal, dismissing the company's earlier appeal related to reversal of input tax credit (ITC). The matter pertains to the GST department's demand for reversal of ITC availed on lease rent of machinery amounting to ₹8.78 crore, along with applicable interest and penalty of an equal amount. Earlier, on March 17, 2024, the company had disclosed receipt of the original order from GST authorities and had filed an appeal on May 29, 2024. In its latest filing, JK Tyre said that the appellate authority has ruled against the company's appeal. However, the company stated it believes it has a strong case and plans to pursue further remedies before higher authorities. It also clarified that there is no material impact on its financial, operational, or other activities as a result of this order. The company reaffirmed its commitment to defending its position and complying with all applicable laws. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
21 hours ago
- Business
- Time of India
ITC Share Price Live Updates: ITC's monthly performance reflects stability
15 Jul 2025 | 09:15:58 AM IST Stay informed with the ITC Stock Liveblog, your comprehensive resource for real-time updates and in-depth analysis of a leading stock. Get the latest details on ITC, including: Last traded price 420.6, Market capitalization: 524842.18, Volume: 113941, Price-to-earnings ratio 15.1, Earnings per share 27.77. Our liveblog combines fundamental and technical insights to provide a holistic view of ITC's performance. Stay ahead of the market with breaking news that can influence ITC's trajectory. Our expert analysis and stock recommendations empower you to make well-informed financial decisions. Trust the ITC Stock Liveblog for up-to-date information and expert insights. The data points are updated as on 09:15:58 AM IST, 15 Jul 2025 Show more
Time Business News
2 days ago
- Business
- Time Business News
From Fossil Fuels To Green Futures: Understand The Role Of Energy Community Tax Credit Bonus
The world is rapidly shifting towards cleaner energy. In the United States, the transition from fossil fuels to renewable energy sources is picking up speed, partly due to strong incentives such as the energy community tax credit bonus. This bonus is transforming the landscape for investors, developers, industries, and communities that previously relied on coal, oil, gas, or other petroleum products. If you want to understand how this incentive works and why it is significant, you have come to the right place. The clean energy community tax credit bonus is a financial incentive for clean energy projects constructed in communities that have previously had a history of fossil fuel production or experienced high unemployment that is linked to the energy industry. The Inflation Reduction Act (IRA) of 2022 designed it, aiming to transition communities away from fossil fuels and into green energy by making renewable projects cheaper and desirable. Once a project receives qualification, it is entitled to a 10% boost of its tax credit worth. For example, a solar project which otherwise would be entitled to 30% investment tax credit can be given 40% if it is located in an energy community and fulfills certain conditions. The bonus is available for a number of tax credits such as: Investment Tax Credit (ITC) Production Tax Credit (PTC) Clean Electricity Production Credit (CEPC) Clean Electricity Investment Credit (CEIC) Energy communities are regions that have relied on fossil fuel industries and jobs for a long time. A majority of these communities have suffered from economic adversity and unemployment resulting from the shutdown or scaling down of coal mines, oil fields, and gas plants. The energy community tax credit bonus is specifically aimed at providing for the revival of such communities by stimulating fresh investment, creating work opportunities, expanding the energy economy, and building a future in clean energy. The primary types of energy communities are the following: Brownfield Sites: Areas or regions of land upon which pollution or toxic substances complicate redevelopment and rehabilitation. Fossil Fuel Communities: Locations where coal, oil or gas industries have traditionally provided a high level of employment. High Unemployment Places: Places where unemployment is higher than average, typically associated with failing fossil fuel industries. The energy community tax credit bonus provides an additional 10 percentage points to the qualified tax credit for a project. For instance: If a solar farm is eligible for a 30% ITC, the bonus can boost it to 40%. If a wind project receives a 2.75 cents/kWh PTC, the bonus increases it to approximately 3.025 cents/kWh. This additional credit can translate into millions of dollars in savings for big projects. It helps make it easier for developers to borrow money and for towns to bring in new business. To be eligible for the energy community tax credit bonus, a project has to be located within an approved energy community. Maps and lists of qualifying areas are maintained by the Department of Energy and the IRS and are updated regularly. Developers further have to comply with some wage and apprenticeship requirements before they qualify for the bonus. Eligibility for this bonus is decided when the project is put into service. For some regions, bonus eligibility can shift from year to year based on unemployment levels, so timing and careful planning are key. A Renewable Gas Project: A major U.S. city collaborated with consultants to demonstrate their project touched two qualifying census tracts. They were awarded the 10% bonus, which relieved some of the development and construction expenses. A university constructed a geothermal heating and cooling system on land that once housed an industrial building. Since it qualified as a brownfield, the project secured the bonus and earned additional tax credit revenue. Here are three reasons why this bonus is important: The 10% bonus can break or make a project's budget. For investors, it signifies higher returns and reduced risk. For developers, it makes for a stronger business case for development in communities that require fresh investment. By focusing on regions hit hardest by the decline of fossil fuels, the bonus assists in job creation and supports local economies. It invites new businesses to establish themselves in locations with existing worker skills and energy infrastructures. With increasingly more projects being constructed, the U.S. can accelerate toward its clean energy vision. The bonus encourages solar, wind, battery storage, and even hydropower and geothermal projects to become reality. Solar Farms including rooftop and utility-scale projects are eligible for the bonus. Onshore and offshore wind farms utilising wind energy can secure the benefits. Battery storage systems that help with grid-balancing are also eligible. Hydropower & Geothermal projects also qualify in certain eligible areas. Check Eligibility: Use the Energy Communities Map curated by the Department of Energy or seek advice from a tax professional. Meet Requirements: Projects must comply with prevailing wage and apprenticeship regulations to receive the full bonus. File Carefully: When applying for the ITC or PTC you should submit documentation indicating the project's location and eligibility. Stay Updated: Qualifying areas and regulations change frequently and may change each year, so keep up with the latest IRS and DOE guidelines. The energy community tax credit bonus is a powerful tool to help communities move away from fossil fuels into a cleaner future. It offers real financial incentives, encourages new investment, helps create jobs, catalyzes local economies, and enables the clean energy transition where it is most needed. Developers and investors can maximize this opportunity by learning how the bonus works and staying updated. TIME BUSINESS NEWS
