Latest news with #InCred
Economic Times
2 days ago
- Business
- 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)
Time of India
2 days ago
- Business
- Time of India
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. 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. Order Wins and Capacity Expansion in Focus 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. The power will be generated from a 2×800 MW ultra-supercritical plant, developed under the DBFOO (Design, Build, Finance, Own, and Operate) model. Brokerage 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. 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/kWh. Looking 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. Technical Indicators Support the Uptrend 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 dip. Valuation Concerns After Recent Spike While 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. 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)
Business Standard
3 days ago
- Business
- Business Standard
Crafting Bharat S2, powered by AWS Startups & a NewsReach initiative, launches fifth episode with Prithvi Chandrasekhar of InCred
VMPL New Delhi [India], June 10: India is on track to emerge as a developed nation by its centenary in 2047. This forward-looking vision emphasizes inclusive growth, sustainable development, and effective governance, with the nation's youth playing a pivotal role as both architects and beneficiaries of transformative change. The "Crafting Bharat - Season 2", powered by AWS Startups, an initiative by NewsReach, in association with VCCircle, and production partner - HT Smartcast, explores how startups are harnessing the power of the cloud to accelerate growth, optimise operations, and build solutions that will define the India of Tomorrow. This series is hosted by Gautam Srinivasan, famed for hosting a diverse range of TV and digital programs, currently consulting editor at CNBC (India), CNN-News18, Forbes India, and The Economic Times. In this episode, we spotlight Prithvi Chandrasekhar, President & CEO - Consumer Finance of InCred, who is digitally transforming the credit ecosystem of India. He reflects upon the importance of building a strong tech foundation from day 1, integrating AI into the business for better customer experience and how AWS helped them scale and innovate for transforming the credit ecosystem. In this series, explore inspiring startup stories that are shifting gears and sparking innovation across sectors, all contributing to India's transformation into a developed nation by 2047 in this captivating series. Watch Episode: Edited Excerpts: Segment 1: Ignite In a space where regulatory shifts and competitive pressures can get overwhelming, what are the strategies that worked to ensure slow and steady wins the race? Having supportive investors and visionary leadership enabled us to pursue a deliberate, patient approach from the start, focusing on long-term success rather than quick trends. My colleagues and I were united in our mission to build a lasting institution, laying a strong foundation through measured decision-making during our early years. Would the need to become a financial superstore like a Bajaj Finance perhaps, result in considerable shortening of entry time into new verticals? To accelerate growth, we acquired a business instead of building it organically, which would have taken longer. Initially, we developed our venture from scratch, gradually maturing processes, risk assessments, and economics. While acquisitions can speed growth, the question is 'when do we go for growth?' is crucial. One pursues them only when they have confidence in their product economics, primarily via solid risk management. The leadership team at InCred, having studied in India and around the world, understands that the easiest way to lose the game is to get the risk wrong. Segment 2: Launch What's the guiding mantra of scale and expansion hereon at InCred Finance? Our tech strategy remains unchanged, thanks to the robust foundations laid from inception. By designing our systems as modular microservices from day one, we ensured red scalable architecture without costly overhauls. Although building this way was expensive between 2016-2018, we now enjoy the long-term benefits of a flexible, scalable design. What are the possibilities opening up in the "slope of enlightenment" phase of AI and GenAI as the data ecosystem gains more traction especially with the next billion users in India? AI can be categorized into Predictive AI and Generative AI. Predictive AI isn't new--it dates back to the 1950s when Fair Isaac developed statistical scorecards for credit risk assessment, leading to the FICO score. In the 1990s, Falcon, a fraud detection model, became one of the first commercial machine learning applications. Generative AI, however, is driving revolutionary changes, particularly in software development. Yet, major challenges remain--ownership of intellectual property (IP) and the garbage in, garbage out problem. If these issues are addressed, Generative AI could unlock immense potential in financial services, particularly in enhancing customer interactions and enabling personalized product experiences. Sub-segment: Boost InCred started its journey with AWS in 2017. Take us through the highlights of the association? AWS provided the innovation and scalability we needed. We partnered with AWS in 2016-17 to future-proof our business, leveraging its infinite scalability, modular support, and ongoing upgrades. With AI's substantial data demands, AWS consistently delivered, enabling our infrastructure to scale seamlessly as we grew. Segment 3: Orbit What lessons can benefit the broader industry and drive growth as India advances? For FinTech founders looking forwardsupportingport India's growth, I would like to emphasize that 'Nothing matters more than Risk Management'. While convenience, user experience, and advanced technology are valuable, success in credit businesses hinges on strong underwriting. If you don't do it, you will not have a successful credit business. Many have overlooked this, leading to failures--I hope future innovations prioritize risk to ensure sustainable growth. The startup ecosystem of India has been growing leaps and b, bounds powered by the young generation's innovative thinking, motivation to build solutions for pressing challenges and the drive to bring change in the nation's economy. Their innovation and vision are what will drive the nation to become a developed and sustainable nation.
Entrepreneur
12-05-2025
- Business
- Entrepreneur
Celebal Technologies Raises $15 Million to Fuel Global Expansion and AI Innovation
The transaction was advised exclusively by Avendus Capital, which has previously worked with Celebal on strategic funding efforts. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Enterprise AI solutions provider Celebal Technologies has raised $15 million in Series B funding from InCred Growth Partners Fund I and Norwest Capital, the company announced in a press release. The new capital will support the Jaipur-based firm's expansion into key international markets including North America and Europe, while also advancing its AI-driven offerings across sectors such as energy, manufacturing, retail, life sciences, and financial services. Co-founder Anupam Gupta called the investment a significant milestone for the company's growth ambitions. "We welcome InCred's PE Fund to join the journey. This investment reflects the strong fundamentals of Celebal and our commitment to delivering impactful outcomes for our clients," he said. Gupta noted the increasing strategic value of data for global enterprises and emphasized Celebal's mission to help organizations "harness its full potential at scale." Founded in 2016 by Anirudh Kala and Anupam Gupta, Celebal Technologies has carved a niche in delivering cloud and AI solutions that help large enterprises modernize legacy systems. The company specializes in data science, data engineering, process automation, and low-code platforms, and is known for deploying business-critical use cases such as Customer 360, supply chain optimization, logistics analytics, and financial intelligence. Since its previous funding round in September 2022, Celebal has more than doubled its revenue, expanded its workforce, and grown its presence in international markets, according to the company. The latest fundraise marks a continuation of that momentum, as it looks to scale its delivery capabilities and deepen its innovation in AI. Vivek Singla, Managing Partner and CIO – Private Equity at InCred's PE Fund, underscored the strategic importance of Celebal's offerings. "Celebal operates at the nexus of Data, Analytics and AI—three of the most transformative forces in technology today. Their deep domain knowledge and engineering talent make them a compelling partner. We look forward to supporting their continued success," he said. The transaction was advised exclusively by Avendus Capital, which has previously worked with Celebal on strategic funding efforts.
Time of India
25-04-2025
- Business
- Time of India
InCred hikes Nifty target by 4%; adds Axis Bank, UPL to High-Conviction List
InCred Equities has raised its Nifty target by 4% to 24,280, despite continued earnings downgrades and ongoing volatility in the market, citing improved outlook from easing crude oil prices and expectations of above-normal rainfall. It has also added Axis Bank and UPL to its high-conviction stock list, reflecting selective opportunities amid ongoing market volatility. The brokerage, however, maintained a cautious stance on Indian equities , flagging premium mid-cap and small-cap valuations, policy uncertainty, and lingering global trade tensions. Cautious outlook amid persisting earnings cuts InCred said that the Nifty50 earnings per share (EPS) growth for the March 2025 quarter is expected to be modest, at just 8% year-on-year (YoY), with continued downside pressure from sectors like Information Technology (IT) and banking. The brokerage said that despite some improvement in certain sectors like telecom, healthcare, and materials, the broader earnings downgrade trend remains intact, with FY26F Nifty-50 EPS seeing a 2% cut. Of the 73 companies that have reported their March quarter earnings so far, sales rose 5% YoY and profit after tax increased 12%, helped by slower expense growth, the brokerage noted. For the broader market, InCred's EPS downgrade expectations persist, especially in the consumer discretionary and energy sectors, which have been underperforming. The brokerage noted that mid-cap and small-caps have surged by 10-16% since the March 2025 lows, reaching premium valuations compared to the Nifty-50, which has further raised concerns over stretched market valuations. The Nifty-50's forward P/E remains below its 10-year average, offering some comfort. However, InCred flagged a 20–35% valuation premium in broader markets as a red flag, especially amid macro headwinds. Sectoral insights The brokerage upgraded the construction sector to a neutral rating, citing improved valuation comfort after significant underperformance in FY25. In addition to adding Axis Bank and UPL to its conviction list, InCred also upgraded Larsen & Toubro, Sonata Software , and Dilip Buildcon to add rating, while downgrading Wipro and HCL Technologies . Axis Bank, in particular, is seen as a key beneficiary of the Reserve Bank of India 's measures to improve liquidity and boost credit growth. UPL, meanwhile, stands to benefit from the ongoing recovery in the global agrochemicals sector, the brokerage noted. . Public sector banks like Bank of Baroda , Punjab National Bank , Canara Bank , and Bank of India were brought under coverage amid improved outlook, the brokerage said. Mixed macro picture and external risks While rural demand, electricity consumption, and easing inflation signaled a macro pickup, InCred cautioned that weak auto and housing sales, sluggish industrial growth, and poor credit disbursal continue to weigh on growth. The RBI's two recent rate cuts and the government's income tax reductions aim to support momentum. Also read: Axis Bank Q4 Results: PAT flat at Rs 7,117.5 crore but beat estimates, NII up 5.5% Still, external shocks remain a key risk. Rising protectionism, geopolitical tensions, and oil price volatility could derail recovery. The recent US-China tariff war has already led to a downgrade in India's GDP forecast to 6.5% for FY26 by the RBI's Monetary Policy Committee. 'These uncertainties would dampen growth by affecting investment and spending decision of businesses and households,' the brokerage said. The bull-case probability has been raised to 25% from 5% earlier, while the bear-case scenario has been cut to 25% from 45%. A more adverse scenario, involving escalation of regional geopolitical conflict, could drag the index down to 21,288, InCred Equities said.
