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Deccan Herald
15 minutes ago
- Deccan Herald
Markets trade lower after firm start, fresh foreign fund outflows dent sentiment
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,858.15 crore on Wednesday, according to exchange data.
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Business Standard
15 minutes ago
- Business Standard
India's daily thermal power output dips to record 62% low, RE's share rises
India's daily thermal power generation for the first time dipped to a low of 62 per cent on Tuesday, meaning the share of aggregate renewable energy (RE) climbed to 38 per cent. Within RE, the share of core renewables (solar, wind, and biomass, minus hydel and nuclear) has for the first time touched a high of 17 per cent. It had hovered at around 13 per cent for the past five years. The dip in thermal power generation and the rise of RE is not just a record, but it is the clearest evidence that RE generation is well on the way to become a commercially viable business case in India. In no financial year ever has the share of thermal power (essentially coal) dipped to such a low percentage in a 24-hour cycle. The record low happened on Tuesday, according to the daily reports from the Grid Controller of India, the state-run company that manages the national electricity grid of India. Data on national level RE is available only from FY16. The share of thermal power generation dipped through this week: it was 63 per cent on Monday. RE's highest share in FY25 had never crossed 13 per cent. The share of hydel power has averaged 15 per cent in this season and that of nuclear at 3 percent. While the dip in the share of coal has of course been made possible because of the heavy monsoon showers across India, the total demand is not too far below the peak summer levels this year. The aggregate demand for power on July 15 was 216.4 GW (gigawatt). With a slightly higher 220-225 GW range, in the April to June quarter the average generation from coal-based power plants was at least 71 per cent of the total. Aggregate demand for power reached 250 GW in the summer of FY25, but this year the mean has remained near 220GW. It is difficult to predict how the demand for power could pan out in the remaining months since the Indian summer extends even into October at times. But the sharp dip in the share of coal and the rise of RE could soon become a trend. The Union Cabinet on Wednesday raised the upper limit for investments by NTPC Green Energy Limited, without referring back to the government, to Rs 20,000 crore. The sum is more than double its current exemption limit of Rs 7,500 crore. 'The enhanced delegation will facilitate accelerated development of renewable projects in the country. This move will also play a vital role in strengthening power infrastructure and ensuring investment in providing reliable, round-the-clock electricity access across the nation,' said a press release by the Press Information Bureau, after the meeting. NTPC plans to generate 60 GW of green power by 2032. NLC, another state-owned company, has also been allowed to make investments of up to Rs 7000 crore in RE without seeking government nod.
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Business Standard
15 minutes ago
- Business Standard
Home loan rates in July: PSU banks start at 7.35%, private lenders at 7.90%
For people planning to buy homes in the second half of the year, interest rates on home loans will be a key factor in determining affordability. Most banks and housing finance companies (HFCs) have held rates in July, but customers will find still find varying terms. According to data from public sector banks offer some of the most attractive rates, while private lenders and HFCs display a broader range. Public sector banks: rates start from 7.35 per cent Among public sector banks, Union Bank of India and Bank of India are offering the lowest starting rates at 7.35 per cent, applicable across loan slabs. State Bank of India (SBI) and Punjab National Bank (PNB) have home loan rates beginning at 7.50 per cent, with SBI maintaining uniform rates for loans up to Rs 30 lakh and even beyond Rs 75 lakh. Borrowers looking for additional concessions can benefit from certain offers: Union Bank provides a 0.05 per cent interest rate discount for borrowers opting for an insurance policy. Similarly, UCO Bank offers extra concessions of 0.05 per cent-0.10 per cent for women applicants and takeover loans. Private sector banks: Wider rate bands In the private banking space, rates start slightly higher. HDFC Bank and Kotak Mahindra Bank begin at 7.90 per cent and 7.99 per cent, respectively. ICICI Bank has rates starting from 8.00 per cent. Borrowers should note the wider interest rate range among private lenders. For instance, Axis Bank's home loan rates stretch from 8.35 per cent to 11.90 per cent, depending on the loan amount and borrower profile. Bandhan Bank shows the widest band, going as high as 15.00 per cent for loans up to Rs 30 lakh. Housing finance companies: Starting at 7.49 per cent HFCs are also an option for borrowers, with some offering competitive rates. Bajaj Housing Finance has the lowest starting rate at 7.49 per cent, while LIC Housing Finance and ICICI Home Finance are at 7.50 per cent onwards. However, rates at other HFCs vary significantly. PNB Housing Finance offers loans between 8.25 per cent and 12.35 per cent, and SMFG India Home Finance has rates from 10.00 per cent onwards. Key takeaway for borrowers Homebuyers should compare lenders carefully, considering not just the interest rate but also factors like gender-based concessions, loan slabs, and add-on benefits such as insurance-linked discounts. With rates largely stable this month, it may be a good time for borrowers to lock in competitive terms before any upward revisions.