Power Mech Projects gains on securing Rs 159-cr solar orders from BSPGCL
Power Mech Projects rose 1.65% to Rs 3,209.95 after the company secured Rs 159 crore solar power orders from Bihar State Power Generation Company (BSPGCL) under the PM-KUSUM C2 scheme for setting up grid-connected distributed solar plants in Bihar.
The projects, awarded under the RESCO (Renewable Energy Service Company) model, aim to solarize agricultural and mixed-load feeders across various substations in Bihar.
These projects will have a total installed capacity of 13.66 MW (AC) and will generate revenue through a 25-year power purchase agreement (PPA) with Bihar distribution companies NBPDCL and SBPDCL. The execution is set to be completed within 12 months.
The contracts cover three main locations: Rajoun, with a capacity of 4.221 MW valued at Rs 48.29 crore; Sakahara, with 4.285 MW worth Rs 49.02 crore; and Sambhuganj, the largest, with 5.155 MW valued at Rs 61.78 crore. Each project will receive a central government subsidy of Rs 1.05 crore per MW, plus an additional Rs 0.45 crore per MW from the Bihar government.
The scope of work includes the design, supply, installation, testing, commissioning, and long-term operation and maintenance of the solar power plants, along with related transmission infrastructure.
Hyderabad-based Power Mech Projects is one of the leading infrastructure construction companies.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
20 minutes ago
- India.com
9 Of Top 10 Most Valued Firms Add Rs 2.34 Lakh Crore In Market Cap This Week
Mumbai: Nine out of India's 10 most valuable companies saw a combined increase of Rs 2.34 lakh crore in market capitalisation this week, as strong momentum in the stock market pushed their valuations higher. The BSE benchmark index also posted a solid gain of 1,650.73 points, or 2 per cent, during the week. Among the top gainers was Bharti Airtel, whose market value went up by Rs 51,860.65 crore to Rs 11.56 lakh crore. HDFC Bank added Rs 37,342.73 crore to reach a valuation of Rs 15.44 lakh crore. Bajaj Finance saw its market capitalisation rise by Rs 26,037.88 crore, taking its total value to Rs 5.88 lakh crore. ICICI Bank's value grew by Rs 24,649.73 crore, reaching Rs 10.43 lakh crore. LIC also made gains of Rs 13,250.87 crore, with its valuation climbing to Rs 6.05 lakh crore. State Bank of India (SBI) added Rs 8,389.15 crore to stand at Rs 7.18 lakh crore. TCS saw a modest increase of Rs 3,183.91 crore, pushing its valuation to Rs 12.45 lakh crore. Hindustan Unilever registered a small gain of Rs 293.7 crore, now valued at Rs 5.41 lakh crore. Infosys was the only company among the top 10 to witness a fall in value. Its market capitalisation dropped by Rs 5,494.8 crore, bringing it down to Rs 6.68 lakh crore. In terms of ranking by market capitalisation, the top companies are HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever. Meanwhile, in the previous week, the combined market capitalisation of six out of India's ten most valuable companies increased by Rs 1.62 lakh crore, driven by strong investor confidence in the equity markets. This surge in market value during the previous week came alongside a 1.58 per cent rise in the benchmark Sensex, which climbed 1,289.57 points during the same period.
Time of India
20 minutes ago
- Time of India
Top 10 firms' m-cap: Reliance leads Rs 2.34 lakh crore surge; Infosys only laggard as Sensex rises 1,650 points this week
The market capitalisation of nine of India's top-10 most valued companies rose by Rs 2,34,565.53 crore last week, with Reliance Industries emerging as the biggest gainer in step with the buoyant equity markets. The benchmark BSE Sensex surged 1,650.73 points or 2% during the same period. From the top-10 pack, Infosys was the only firm to post a decline in valuation. Reliance Industries' market cap jumped by Rs 69,556.91 crore to Rs 20,51,590.51 crore. Bharti Airtel followed with a gain of Rs 51,860.65 crore, taking its mcap to Rs 11,56,329.94 crore. HDFC Bank added Rs 37,342.73 crore to reach Rs 15,44,624.52 crore, PTI reported. Bajaj Finance's valuation rose by Rs 26,037.88 crore to Rs 5,88,213.55 crore. ICICI Bank gained Rs 24,649.73 crore to hit Rs 10,43,037.49 crore. LIC saw an increase of Rs 13,250.87 crore, taking its mcap to Rs 6,05,523.65 crore, while SBI added Rs 8,389.15 crore to settle at Rs 7,18,788.90 crore. TCS recorded a modest rise of Rs 3,183.91 crore, with a total valuation of Rs 12,45,761.80 crore. Hindustan Unilever's mcap edged up by Rs 293.7 crore to Rs 5,41,850.99 crore. In contrast, Infosys saw a dip of Rs 5,494.8 crore in market valuation, closing the week at Rs 6,68,256.29 crore. Reliance Industries retained its position as the country's most valued company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
21 minutes ago
- Time of India
World economy faces 'pivotal moment', central bank body BIS says
Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements , said in its latest assessment of the state of the world economy . Outgoing head of the BIS, often dubbed the central bankers' central bank, Agustín Carstens, said the U.S.-driven trade war and other policy shifts were fraying the long-established economic order. He said the global economy was at a "pivotal moment", entering a "new era of heightened uncertainty and unpredictability", which was testing public trust in institutions, including central banks . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The bank's report is published just over a week before U.S. President Donald Trump's trade tariff deadline of July 9 and comes after six months of intense geopolitical upheaval . When asked about Trump's criticisms of U.S. Federal Reserve Jerome Powell, which have included Trump labelling the Fed chair as "stupid", he was not overly critical. Live Events "It is to be expected at certain points in time that there will be friction," former Mexican central bank governor Carstens told reporters, referring to the relationship between governments and central banks. "It is almost by design". DOLLAR DROP The BIS' annual report, published on Sunday, is viewed as an important gauge of central bankers' thinking given the Switzerland-based forum's regular meetings of top policymakers. Rising protectionism and trade fragmentation were "particular concerning" as they were exacerbating the already decades-long decline in economic and productivity growth, Carstens said. There is also evidence that the world economy is becoming less resilient to shocks, with population ageing, climate change, geopolitics and supply chain issues all contributing to a more volatile environment. The post-COVID spike in inflation seems to have had a lasting impact on the public's perception about price moves too, a study in the report showed. High and rising public debt levels are increasing the financial system's vulnerability to interest rates and reducing governments' ability to spend their way out of crises. "This trend cannot continue," Carstens said referring to the rising debt levels and he said that higher military spending could push the debt up further. Hyun Song Shin, the BIS's main economic adviser, also flagged the sharp fall in the dollar. It is down 10% since the start of the year and on track to be its biggest H1 drop since the free-floating exchange rate era began in the early 1970s. He said there was no evidence that this was the start of a "great rotation" away from U.S. assets as some economists have suggested, but acknowledged that it was still too early to know given sovereign funds and central banks move slowly. Shorter-term analysis, though, showed "hedging" by non-U.S. investors holding Treasuries and other U.S. assets appears to have made an "important contribution" to the dollar's slide over the last few months. "We haven't seen anything (yet) that would give us any cause for alarm," Shin added. The BIS had already published one part of its report last week that gave a stark warning about the rapid rise of so-called stablecoins. In terms of the BIS' own finances, it said it made a net profit of 843.7 million IMF SDR ($1.2 billion), while its total comprehensive income reached a record high of SDR 3.4 billion ($5.3 billion) and currency deposits at the bank also reached a new high. "It is important that the BIS has the highest creditworthiness out there," Carstens said.
