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JSW, Amara Raja, Reliance submit bids to make batteries
VCCircle
·
1y ago
Medial
Reliance Industries, JSW Neo Energy, and Amara Raja Advanced Cell Technologies are among the seven companies that have submitted bids to establish a battery manufacturing gigafactory in India. The government's production-linked incentive scheme aims to boost local production by offering incentives to private firms. The battery energy projects are crucial for India's plan to expand its renewable energy capacity to 500 GW by 2030. Reliance, JSW Energy's JSW Neo Energy, and Amara Raja Energy and Mobility are notable bidders. Amara Raja's shares reached an all-time high after the announcement.
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Related News
PLI Scheme For Cell Manufacturing: Reliance, Amara Raja Among 7 Companies In The Fray
Inc42
·
1y ago
Medial
The Ministry of Heavy Industries has received seven bids for the global tender for production linked incentives (PLI) for 10 GWh advanced chemistry cell (ACC) manufacturing. ACME Cleantech Solutions, Amara Raja Advanced Cell Technologies, and JSW Neo Energy are among the companies that submitted bids for a cumulative capacity of 70 GWh. The PLI scheme aims to achieve a manufacturing capacity of 50 GWh of ACC and 5 GWh of niche ACC. This development comes as EV adoption is increasing in India.
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China prices may trip India’s EV battery play
Livemint
·
1m ago
Medial
India's ambitions for an EV battery manufacturing ecosystem face challenges due to cheaper Chinese alternatives. Domestic batteries may be 20-30% more expensive, largely due to reliance on imported raw materials. Analysts expect China's aggressive pricing to continue due to overcapacity in battery cell production. Companies like Amara Raja Energy and Exide Industries are concerned that local batteries won't compete on price with Chinese imports, impacting their rollout plans between this fiscal year and FY27.
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Stock Radar: M&M Financial, Biocon, Dr Reddys Labs, Sansera Engineering, Kalyan Jewellers in focus on Tuesday
Money Control
·
1y ago
Medial
Sharekhan is bullish on Amara Raja Energy & Mobility has recommended buy rating on the stock with a target price of Rs 1,967 in its research report dated March 25, 2024.
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NSE Indices Launches Nifty EV & New Age Automotive Index
Inc42
·
1y ago
Medial
The NSE Indices has introduced a new index that includes stocks from the Nifty 500 involved in the production and supply of electric or new-age automotive vehicles, batteries, components, raw materials, and technology. The launch of this index aligns with the Indian government's efforts to promote EV adoption and position India as a manufacturing destination. Some of the stocks included in the index are Amara Raja Energy & Mobility, Exide Industries Ltd, Bajaj Auto Ltd, Hero MotoCorp Ltd, Olectra Greentech Ltd, TVS Motor Company Ltd, and Tata Motors.
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I Squared, JSW Neo and Macquarie shortlisted to buy O2 Power in $1-billion deal
Livemint
·
11m ago
Medial
Private equity firm I Squared Capital, JSW Neo Energy (a subsidiary of JSW Group), and Macquarie Group have been shortlisted to submit bids for the acquisition of renewable energy platform O2 Power. The deal, which could value O2 Power at $1 billion in equity and $2.3 billion in enterprise, is one of the largest green energy transactions in India. Stonepeak is also in talks to participate in the bidding process. The selected bidders will have full access to the data room before submitting their final offers by October 19th.
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Grapevine: Three firms make cut for O2 Power; co-working platforms eye IPOs
VCCircle
·
11m ago
Medial
Three firms, I Squared Capital, JSW Neo Energy, and Macquarie Group, have made the shortlist to submit binding bids for the acquisition of renewable energy platform O2 Power. The deal, which could value the equity at $1 billion and enterprise at $2.3 billion, is expected to attract significant interest. In other news, co-working platforms are eyeing initial public offerings (IPOs) as demand for flexible working spaces continues to grow.
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Financials, banks lead Sensex, Nifty to end at 2-week high
VCCircle
·
1y ago
Medial
Indian benchmarks, Sensex and Nifty, closed at a two-week high fueled by a surge in financial and bank stocks. The Nifty 50 index rose by 0.8% and the Sensex gained 0.9%. Financials gained approximately 2% and banks rose by 1.7%, making them the top sectoral gainers. Private lender HDFC Bank climbed 2.3% and ICICI Bank closed at a record high, while Amara Raja Energy and Mobility surged 19% on signing a licensing deal. Analysts anticipate continued buying in financial and bank stocks due to their underperformance this year.
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JSW, Akzo Nobel, Wadhwa Group, Zomato, Gensol, and Dailyhunt in news
VCCircle
·
3m ago
Medial
JSW Paints, alongside a consortium of Advent International and Indigo Paints, has submitted bids to acquire Akzo Nobel India, as Akzo Nobel NV plans a global restructuring. Pidilite Industries is also involved in the acquisition race. This development follows the broader trend of company acquisitions and restructuring efforts in the global market. The outcome of these bids could significantly impact the competitive landscape in the paint industry in India.
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JSW Neo Energy, Blackstone, other cos line up for Statkraft wind-down
Economic Times
·
2d ago
Medial
JSW Neo Energy, Blackstone, and Serentica Renewables have placed financial bids to acquire Statkraft's wind and solar energy assets in India, following a three-month due diligence period. Statkraft, a Norwegian government-owned renewable power firm, plans to exit India, selling its assets in two segments. While bids for wind and solar are now submitted, hydro power assets will follow. Statkraft aims for a $1.5 billion value for its Indian portfolio, which includes significant renewable energy infrastructure.
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India's Reliance unveils swappable, multipurpose batteries for EVs
Reuters
·
1y ago
Medial
Indian oil refining company Reliance Industries showcased its swappable and multipurpose battery storage technology for electric vehicles (EVs) at a renewable energy exhibition. The batteries, developed as part of Reliance's $10 billion green push towards clean energy, can be used for both mobility and powering household appliances. The company plans to set up battery swap stations and encourage households to recharge batteries using rooftop solar panels. Reliance aims to reduce reliance on its oil-to-chemical business and become carbon neutral by 2035.
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