CESC

NEW DELHI, Oct 10 (Reuters) - India plans to open up its electricity retail market for private companies, ending the dominance of state-run distributors in some states, according to draft regulations proposed by the federal power ministry.

The move will allow private companies such as Adani Power ADAN.NS, Tata Power TTPW.NS, Torrent Power TOPO.NS and CESC CESC.NS to strengthen their presence in the country.

(Reporting by Sethuraman NR and Sarita Singh; Editing by Sonia Cheema)

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Sept 19 (Reuters) - CESC Ltd CESC.NS:

• CESC LTD - TO CONSIDER ISSUE OF NON-CONVERTIBLE DEBENTURES

Source text: ID:nBSE4hP48C

Further company coverage: CESC.NS

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** Shares of Indian power utilities rise between 0.3% and 2%

** Investec reaffirms its positive stance on the Indian power utilities sector

** Believes recent "short-term demand swings are cyclical and temporary, and long-term outlook remains strong as connectivity improves and consumption rises

** Says recent decline in stock prices of JSW Energy JSWE.NS, CESC CESC.NS, NTPC NTPC.NS, Inox Wind INOX.NS and Kalpataru Projects KAPT.NS provide attractive entry opportunities; maintains "buy" rating on these stocks

** Forecasts India's power demand to grow at a CAGR of 5.3% from FY25 to FY32, reaching 367 GW, driven by urbanisation and rising temperatures

** India's plan to add approximately 250 GW of new capacity by FY30, which will require significant capital expenditure in transmission - Investec

(Reporting by Rudra Pratap Singh in Bengaluru)

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** Power Grid PGRD.NS, CESC CESC.NS rise 2.5% and 1.3%, respectively

** Antique Stock Broking analysts Vishal Periwal, Shubham Shelar highlight stocks as key beneficiaries of strong demand growth over next four months

** Say power demand subdued in June quarter due to early and heavy monsoon; however, output up 3% in July and 4% in August

** Add valuations in power sector corrected sharply, creating attractive entry points

** Brokerage reiterates constructive view on sector, naming PGRD its top large-cap pick, backed by rising capex, higher capitalisation

** Prefers CESC in mid-caps, forecasting double-digit PAT growth from expanding renewables portfolio

** Rates both "buy"

** YTD, PGRD and CESC fall 9.35% and 16.1%, respectively

(Reporting by Bharath Rajeswaran in Bengaluru)

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June 23 (Reuters) - Adani Total Gas Ltd ADAG.NS:

• NSE: TO EXCLUDE F&O CONTRACTS ON 8 SECURITIES INCLUDING ADANI TOTAL GAS, JINDAL STAINLESS FROM AUG 29 ON EXPIRY OF EXISTING CONTRACTS

Source text: [https://tinyurl.com/5hdtsnv6]

Further company coverage: ADAG.NS

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** Shares of Waaree Renewable Technologies WAAE.NS gains 3.5% to 1,060 rupees

** Stock set for its biggest one-day pct gain since May 12

** Renewable energy co wins contract from CESC Ltd's CESC.NS unit to develop solar power project for 3.46 billion rupees ($40.5 million)

** WAAE trades above 50-, 100-, 200- day moving avgs, after breaching 50-DMA, indicating a bullish sentiment

** Stock up 17.4% since its debut in April

($1 = 85.4900 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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April 30 (Reuters) - CESC Ltd CESC.NS:

• CESC LTD - MAHARASHTRA REGULATOR APPROVES 125MW POWER PROCUREMENT FROM DHARIWAL INFRASTRUCTURE

• CESC LTD - ADANI ELECTRICITY MUMBAI TO PROCURE 125MW POWER FROM DHARIWAL

Source text: ID:nNSEb6QFsq

Further company coverage: CESC.NS

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April 29 (Reuters) - CESC Ltd CESC.NS:

• CESC LTD - MERC APPROVES POWER PURCHASE AGREEMENT BETWEEN TATA POWER AND DHARIWAL INFRASTRUCTURE

Source text: ID:nBSE48R8jm

Further company coverage: CESC.NS

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April 28 (Reuters) - CESC Ltd CESC.NS:

• ENTERS 25-YEAR POWER PURCHASE AGREEMENT FOR 300 MW PROJECT

Source text: ID:nBSE4TZVfH

Further company coverage: CESC.NS

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April 2 (Reuters) - CESC Ltd CESC.NS:

• CESC LTD - TO CONSIDER PROPOSAL FOR ISSUE OF NON-CONVERTIBLE DEBENTURES

Source text: ID:nBSE3nh2GL

Further company coverage: CESC.NS

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** Rising demand for power in India and likely capacity addition in the first half of fiscal year 2026 across thermal and hydro-power should benefit power-generating companies and regulated utilities, says CLSA

** Says capacity addition should help NTPC NTPC.NS and NHPC NHPC.NS, while Power Grid Corporation PGRD.NS is set to gain from large projects in the fiscal years 2026-2030

** Adds India's focus on ensuring energy security will drive large orders for thermal power, which may peak in FY 2026

** CLSA expects rising power demand (+3% in FY2025 year-to-date) to favour relatively inexpensive regulated companies such as NTPC, NHPC and CESC CESC.NS

** Terms PGRD, NTPC and NHPC as its top picks in the sector

** NTPC and NHPC up 2.2% and 4% respectively, while Power Grid and CESC rise about 1% each, on the day

(Reporting by Bharath Rajeswaran in Bengaluru)

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Jan 10 (Reuters) - CESC Ltd CESC.NS:

• Q3 CONSOL NET PROFIT 2.65 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 35.61 BILLION RUPEES

• DIVIDEND OF 4.50 RUPEES PER SHARE

Source text: ID:nNSE9kRGmq

Further company coverage: CESC.NS

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Jan 7 (Reuters) - CESC Ltd CESC.NS:

• CESC - ISSUES LETTER OF AWARD TO SUBSIDIARY PURVAH GREEN POWER

Source text: ID:nBSE4lGpSv

Further company coverage: CESC.NS

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Nov 22 (Reuters) - CESC Ltd CESC.NS:

• CESC - TARGET TO FULLY COMMISSION 3,200 MW HYBRID RENEWABLE CAPACITY BY MARCH 2029

Source text: ID:nBSE54fWcn

Further company coverage: CESC.NS

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Nov 12 (Reuters) - CESC Ltd CESC.NS:

• CESC Q2 CONSOL NET PROFIT 3.53 BILLION RUPEES

• CESC Q2 CONSOL REVENUE FROM OPERATIONS 47 BILLION RUPEES

Source text: ID:nNSE2QPyBn

Further company coverage: CESC.NS

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** Shares of Indian utility CESC CESC.NS up 3% at 193 rupees

** Co said on Monday unit Purvah Green Power entered into a share purchase agreement for acquisition of 100% stake in Deshraj Solar Energy

** Deshraj Solar Energy develops solar PV power plants

** Stock set to extend gains for a second session

** YTD stock has risen ~45%

(Reporting by Yagnoseni Das in Bengaluru)

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Oct 14 (Reuters) - CESC Ltd CESC.NS:

• UNIT ENTERS INTO AGREEMENT TO ACQUIRE DESHRAJ SOLAR ENERGY

Source text for Eikon: ID:nBSE8w9cW

Further company coverage: CESC.NS

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Oct 3 (Reuters) - CESC Ltd CESC.NS:

• UNIT PURVAH GREEN POWER ENTERS INTO A BINDING TERM SHEET WITH BHOJRAJ RENEWABLES ENERGY

• DEAL FOR 1.09 BILLION RUPEES

Source text for Eikon: ID:nBSE75T657

Further company coverage: CESC.NS

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** ICICI Securities initiates coverage of Adani Energy Solutions ADAI.NS with "buy", sets TP at 1,318 rupees

** Says earnings growth may be driven by new transmission opportunities, growth in Mumbai DISCOM and co's existing smart meter wins

** Adds India's plans to bid 1.6 trln rupees ($19 billion) for transmission assets and 1.2 trln rupees for smart meters to boost growth in the sector

** Rivals Tata Power TTPW.NS and Power Grid Corp PGRD.NS rated "hold", CESC CESC.NS "buy" and Torrent Power TOPO.NS "sell" on avg - LSEG

($1 = 83.7700 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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Sept 19 (Reuters) - CESC Ltd CESC.NS:

• UNIT ENTERED INTO A BINDING TERM SHEET WITH ECOREN ENERGY INDIA

• TERM SHEET FOR SETTING UP WIND POWER PROJECT OF UPTO 686.85 MW

Source text for Eikon: ID:nBSEb8KjRM

Further company coverage: CESC.NS

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** Shares of CESC CESC.NS rise 5.2% to 198.4 rupees

** Investec lists the power utilities company among its top picks in the sector, citing healthy power generation, comfortable valuations and strong earnings growth prospects

** Investec says India's power demand will grow at a CAGR of 6.2% from fiscal year 2024 to 2032

** Addition of further capacity to cater to rising power demand to open opportunities in transmission, helping the likes of NTPC, CESC, Inox Wind INWN.NS and Kalpaturu KAPT.NS

** INWN and KAPT stock up 0.9% and 0.1%, respectively, NTPC stock down 0.5%, on the day - exchange data

** Investec's target price of 230 rupees is the second highest of the 10 analysts tracking the stock, whose mean rating is equivalent to "buy"

** Median target price is 205 rupees, almost similar to current levels - LSEG data

** CESC up 51% in 2024 so far, outperforming the 27.2% rise in small-cap index .NIFSMCP100 - exchange data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Aug 9 (Reuters) - CESC Ltd CESC.NS:

• JUNE-QUARTER CONSOL NET PROFIT 3.78 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 48.63 BILLION RUPEES

Source text for Eikon: ID:nBSE7LBnc1

Further company coverage: CESC.NS

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July 29 (Reuters) - CESC Ltd CESC.NS:

• ACQUIRED 63.91% SHARES OF PURVAH GREEN POWER

• COST OF ACQUISITION AT 2.05 BILLION RUPEES

Source text for Eikon: ID:nBSES0XBD

Further company coverage: CESC.NS

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** Shares of Indian utility CESC CESC.NS up as much as 9.9% to hit record high 189.04 rupees

** CESC last up ~6% after local media reported co will hike power tariffs, levy an additional 5.7% on June electricity bills

** Trading vols 3.2x 30-day avg

** YTD stock had risen ~36%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Inox Wind INWN.NS rise as much as 15.1% to 164 rupees, highest since May 27

** Co said on Thursday its promoter Inox Wind Energy INOX.NS completed the infusion of 90 bln rupees ($1.1 bln) in co to pare down external term debt to achieve net debt free status

** More than 65 mln shares change hands, 6.4x its 30-day avg

** Stock up 28% so far this year vs a 20% and 46% rise, respectively, in shares of rival CESC CESC.NS and Suzlon Energy SUZL.NS

($1 = 83.4890 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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May 29 (Reuters) - CESC Ltd CESC.NS:

• INTIMATION REGARDING FIRE INCIDENT

• FIRE INCIDENCE OCCURRED AT UNIT -1 GENERATOR TRANSFORMER IN THE PLANT LOCATED AT BANESWAR CHAK, WEST BENGAL

• FIRE HAS SUBSIDED AND HEL IS CURRENTLY ASSESSING CAUSE OF FIRE AND EXTENT OF DAMAGE

• AIM TO RESUME OPERATIONS AT PLANT AS SOON AS POSSIBLE

• FIRE CAUSED PARTIAL DISRUPTION IN PLANT OPERATION

Source text for Eikon: ID:nNSE71Vy2D

Further company coverage: CESC.NS

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** Shares of CESC CESC.NS fell as much as 3.8%, last down 1.2% at 144.9 rupees

** Electricity generation firm's Q4 profit fell 7.6% YoY

** Rival Power Grid Corp's PGRD.NS Q4 profit dropped, after which its stock fell

** CESC rated "buy" on avg, PGRD rated "hold" - LSEG data

** CESC up 8.7% YTD, PGRD up 34.9%

(Reporting by Varun Vyas in Bengaluru)

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April 10 (Reuters) - CESC Ltd CESC.NS:

• PURVAH GREEN POWER ENTERED INTO SHARE PURCHASE AGREEMENT WITH SKP GREEN VENTURES AND BHADLA THREE SKP GREEN VENTURES

• CASH CONSIDERATION AT 38.4 MILLION RUPEES

Source text for Eikon: ID:nBSE3yc0C9

Further company coverage: CESC.NS

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April 8 (Reuters) - CESC Ltd CESC.NS:

• CESC- GETS ORDER OF DETERMINATION OF TAX, INTEREST, PENALTY ISSUED BY GOVERNMENT OF WEST BENGAL FOR FY2018-19 AT 149.5 MILLION RUPEES

Source text for Eikon: ID:nBSE60zSMX

Further company coverage: CESC.NS

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** Shares of power generator JSW Energy JSWE.NS up 4.6%

** Co receives bids for setting up 700 milliwatt and 300 milliwatt power generating grids in two renewable energy parks

** Stock trading above its 200-day simple moving avg since July 2023, volumes over 1x the 30-day avg

** Analysts' average rating on co is equivalent of "hold", their median PT is 507 rupees - 6% premium on last close, per LSEG data

** Including sessions' gains, stock up ~22% YTD, it surged 42% in 2023

** Analysts' avg rating on peer Tata Power TTPW.NS is "hold", while on CESC CESC.NS it is "buy"

(Reporting by Manvi Pant in Bengaluru)

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