PTC

March 4 (Reuters) - Indian oil explorer Oil and Natural Gas Corp ONGC.NS said on Tuesday its unit acquired clean energy firm PTC Energy for 9.25 billion Indian rupees ($106.02 million) as the company looks to ramp up its green energy portfolio.

CONTEXT

PTC Energy has operational wind generation capacity of 288 megawatts located at seven locations across three Indian states. It posted a revenue of 3.22 billion rupees in fiscal year 2024

WHY IS IT IMPORTANT

India has committed to setting up 500 GW of non-fossil fuel electricity generation capacity by 2030, but is still falling short of its previously set target to add 175 GW by 2022.

ONGC, via its unit ONGC Green, is aiming to achieve 10 GW renewable energy portfolio by 2030. In February, ONGC and its joint venture NTPC Green Energy NTPG.NS acquired Ayana Renewable Power, which operates solar and wind plants valued at $2.3 billion.

($1 = 87.2440 Indian rupees)

(Reporting by Sethuraman NR; Editing by Krishna Chandra Eluri)

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Feb 21 (Reuters) - NHPC Ltd NHPC.NS:

• NHPC-PROPOSAL TO BUY OR NOT CO-PROMOTERS STAKE IN PTC INDIA IS IN VERY INITIAL STAGE OF STUDY

Further company coverage: NHPC.NS

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** Shares of PTC India PTCI.NS rise 5.2% to 139.41 rupees

** Stock on track to snap three-session losing streak

** Power trading firm's third-quarter consol net profit jumps 63% Y/Y to 1.53 billion rupees ($17.6 million)

** Strong energy demand led to healthy growth in trading volumes which rose 29% Y/Y - co says

** Stock declined 24% in 2024

($1 = 86.8560 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Jan 9 (Reuters) - PTC India Ltd PTCI.NS:

• BLACKROCK, INC. SOLD 0.1% STAKE IN CO VIA MARKET TRANSACTION

Source text: ID:nBSE4mLh2y

Further company coverage: PTCI.NS

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** PTC India PTCI.NS climbs as much as 4.67% to 179.38 rupees

** Power finance company posts 12.3% y/y rise in Q2 consolidated net profit to 1.46 bln rupees

** Rev from ops rises ~1.2% y/y; profit margins expand to 6% from 5.8%

** PTCI among the only three gainers on Nifty High Beta 50 index .NIFTYHBI, which is a compilation of 50 stocks listed on NSE with high beta - a measure of sensitivity of stock returns to Nifty 50 .NSEI returns

** Stock down 8% YTD, underperforming NSEI's 9.13% rise

** In 2023, PTCI added 134% vs Nifty 50's 20% gains to enter the high beta 50 index

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 12 (Reuters) - PTC India Ltd PTCI.NS:

• SEPT-QUARTER CONSOL NET PROFIT FROM CONTINUING OPERATIONS 1.46 BILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 51.28 BILLION RUPEES

Source text: ID:nBSE8RgkrT

Further company coverage: PTCI.NS

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Sept 13 (Reuters) - PTC India Ltd PTCI.NS:

• DIVESTMENT OF 100% STAKE OF PTC ENERGY HELD BY CO TO ONGC GREEN

• PTC ENERGY, CO, ONGC GREEN SIGNS SHARE PURCHASE AGREEMENT FOR DIVESTMENT

Source text for Eikon: ID:nBSE1x2q3C

Further company coverage: PTCI.NS

(Reporting by VijayDattaram Malkar)

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June 13 (Reuters) - PTC India Ltd PTCI.NS:

• MANOJ KUMAR JHAWAR SHALL ALSO EXERCISE POWERS OF CHAIRMAN & MANAGING DIRECTOR

Source text for Eikon: ID:nBSE7bFQzn

Further company coverage: PTCI.NS

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** Shares of PTC India PTCI.NS fall 2.3% to 204.5 rupees

** The power products maker said on Friday its Q4 profit slipped 31% Y/Y as revenue from its core power segment fell

** PTCI trading below its 50-day and 100-day simple moving averages since last week

** Analysts on avr rate the stock "buy" rating; median PT is 215.5 rupees - LSEG data

** Stock up 8% so far this year

(Reporting by Ashna Teresa Britto in Bengaluru)

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June 7 (Reuters) - PTC India Ltd PTCI.NS:

• FINAL DIVIDEND 7.80 RUPEES PER SHARE

• MARCH-QUARTER CONSOL NET PROFIT 961.7 MILLION RUPEES VERSUS PROFIT 1.40 BILLION RUPEES

• MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 35.07 BILLION RUPEES VERSUS 35.73 BILLION RUPEES

Source text for Eikon: ID:nBSE4qdwWT

Further company coverage: PTCI.NS

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April 23 (Reuters) - PTC India Ltd PTCI.NS:

• BLACKROCK, INC INCREASED STAKE TO 5.76% FROM 4.46% IN PTC INDIA - EXCHANGE FILING

Source text for Eikon: ID:nBSE9QZwWy

Further company coverage: PTCI.NS

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** Shares of PTC India PTCI.NS rise as much as 4.3% to 154.9 rupees, highest since Sept. 12

** The power generation co on Friday reported a 51% Y/Y jump in net ; rev from ops up 6.2%

** More than 3.5 mln shares change hands by 12:00 p.m. IST, 1.8x its 30-day avg

** PTCI on track for third consecutive session of gains

** Stock trading above its 100-day and 200-day simple moving averages since mid May

** Stock up 88% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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Nov 10 (Reuters) - PTC India Ltd PTCI.NS:

• PTC INDIA SEPT-QUARTER CONSOL NET PROFIT 1.81 BILLION RUPEES VERSUS 1.2 BILLION RUPEES

• PTC INDIA SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 52.03 BILLION RUPEES VERSUS 48.99 BILLION RUPEES

Source text for Eikon: ID:nNSE2BxBw2

Further company coverage: PTCI.NS

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Oct 20 (Reuters) - Oil and Natural Gas Corporation Ltd ONGC.NS:

• APPROVED BID SUBMITTED BY COMPANY, FOR ACQUISITION OF 100% EQUITY STAKE IN PEL AT AN EQUITY VALUE OF 9.25 BILLION RUPEES

• APPROVAL FROM BOARD OF DIRECTORS OF PTC INDIA

Source text for Eikon: ID:nBSE2Q0RVD

Further company coverage: ONGC.NS

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Repeats story filed on May 9 without changes

By Sarita Chaganti Singh and Jayshree P Upadhyay

NEW DELHI/ MUMBAI, May 9 (Reuters) - India's market regulator has issued legal notices to government owned PTC India PTCI.NS and its financial services unit PTC India Financial Services (PFS) PTCN.NS, demanding explanations of alleged corporate governance lapses, two people familiar with the matter said.

PTC India, a power trading company, and PTC India Financial Services, a finance company, have been given 21 days to reply to the show cause notice that requires them to explain before the market regulator why action should not be taken against them, the sources said.

Speaking on condition of anonymity as they are not allowed to speak to the media, they said Investigations by Securities and Exchange Board of India (SEBI) had found preliminary evidence of alleged violations of governance and listing norms.

Officials in PTC India and PFS did not immediately respond to messages and emailed queries sent by Reuters seeking comments. SEBI did not respond to an email sent by Reuters.

The SEBI investigation followed allegations levelled by three independent directors of PTC India Financial Services in January 2022.

The three directors resigned from the board citing "instances of serious lapses in corporate governance and that the company failed to act on concerns raised by them" in a letter available via stock exchange disclosures.

Following the company's response to the show cause notice, SEBI will pass a final order, with possible consequences ranging from monetary penalties to a ban from capital markets.

(Reporting by Sarita Chaganti Singh and Jayshree P Upadhyay; editing by Barbara Lewis)

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