BGR Energy receives contract termination from TN Power Corp for major Chennai project worth Rs 2,600 crore
The official termination order was dated July 18, 2025, and was received by the company on July 22, 2025.
In the exchange filings, BGR Energy Systems shared, 'We hereby inform you that the company has received 'termination of contract' letter from Tamil Nadu Power Generation Corporation Ltd (TNGCPL) (erstwhile TANGEDCO). This is with respect to establishment of 1 x 800 MW North Chennai Super Critical Thermal Power Project, Stage III – Balance of Plant (BOP) package along with allied civil works EPC contract of value Rs 2600.02 Crores'
According to the disclosure, TNPGCL cited key project obligations not being fulfilled, incomplete critical systems, and lapses in insurance renewals and guarantee extensions as the reasons behind the decision.
BGR Energy, however, noted that the matter is currently under arbitration before the Hon'ble High Court of Madras and expressed hope for a favorable resolution. The company also clarified that the termination does not have any significant impact on its financials or operations at this stage.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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The second concern goes back to something the economist John Maynard Keynes wrote in 1936—that when 'enterprise becomes the bubble on the whirlpool of speculation,' capital will flow to the wrong companies, damaging growth and jobs. Both worries are reasonable, but neither is the right reason for concern at the moment. A lot has been written about what my colleague Spencer Jakab dubbed the DORK stocks from the tickers of Krispy Kreme, Opendoor Technologies, Rocket and Kohl's, the riders of the new meme roller coaster. They are merely the public face of a summer boom in bets by private traders. Andrew Lapthorne, head of quantitative research at Société Générale, points to gains of 10% or so from betting on rises in the most-shorted stocks, companies with the weakest balance sheets and the highest-volatility stocks in the midst of massive trading. 'The volumes are mental,' he said. That this is the purest of speculative gambling is most obvious in the performance of penny shares: The 10th of the market with the lowest share price at the start of July had a median gain of 16% by July 23, when the new meme stocks peaked, while the 10th with the highest price rose only 1.4%. The starting share price was by far the best predictor of performance during the month—and also of the size of losses in the last week, when the boom went into reverse and the cheapest stocks fell 6%. Institutional investors and anyone who understands stock issuance can rightly say this is farcical. The only times the price matters is when it stays below $1 long enough to be delisted because of stock-exchange rules, or is so high that a single share is out of reach for a buyer (and even then, retail brokers now sell fractional shares). A company can double or halve the price (or more) by a simple stock split or reverse split, with no impact on the percentage of the company and implied share of the profit that any shareholder owns. The share price shouldn't matter. A lot of private traders either don't understand this or don't care. In July, they were right, and the pros were wrong: Share price did matter, both on the way up and more recently on the way down (perhaps, as private traders took profits ready for holidays). Such speculation can also lead to badly allocated capital, as shown when the last round of meme stocks, led by GameStop and AMC, issued billions of dollars of new shares. The stocks collapsed anyway. Yet, this mostly passes big investors by. There aren't any penny stocks in the S&P 500, and there was no pattern showing that cheaper shares among big companies did better or worse in July. Back in 2021, private traders helped inflate full-blown bubbles in green stocks, SPACs and loss-making technology stocks alongside the meme excitement, yet the wider market was entirely unaffected when those bubbles burst. Equally, Keynes was just wrong when he warned that Wall Street's speculative fervor worked less well at providing capital to the right parts of the economy than the more cautious British approach of investing for income. What critics call 'casino capitalism' and a willingness to take big risks helped finance U.S. growth companies—and even the U.K. government is now trying to kindle animal spirits among voters, worrying that the City of London institutions are failing to provide speculative capital to the British economy. Long-running sentiment surveys from the American Association of Individual Investors and Investors Intelligence are much more positive than earlier this year, but not excessively so. 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