State-owned NHPC has made significant strides in renewable energy, announcing the commencement of commercial power supply from its Parbati-II hydroelectric project in Himachal Pradesh. As of April 1, 2025, the company has begun supplying 600 MW of electricity from three operational units of the project, marking a major milestone in its efforts to harness the hydroelectric potential of the region.
The Parbati-II project, which comprises four units of 200 MW each, has been designed as a run-of-the-river scheme. It diverts the Parbati River through a Concrete Gravity Dam located at Pulga village in the Parbati valley. The project features a 31.52 km long Head Race Tunnel, with the powerhouse situated in Suind village, Sainj valley. The timeline for the commercial operation date of the fourth unit will be announced in due course, according to a regulatory filing from NHPC.
In addition to the hydro project, NHPC has also successfully connected its 300 MW solar power project in Bikaner to the Inter-State Transmission System (ISTS). As of March 31, 2025, the solar project has started injecting 31 MW of power into the grid. The complete commissioning of the solar project is expected by August 31, 2025, with further announcements regarding its phased capacity rollout forthcoming.
Despite these advancements, NHPC's share price has seen a decline of 8.36% over the past year, underperforming its sector by 8.3%. However, the stock has delivered a remarkable 195% return over the last three years, indicating a strong long-term performance even amid short-term challenges.
Meanwhile, the broader market faced challenges as benchmark indices closed lower on March 28, 2025. The 30-share BSE benchmark Sensex fell by 191.51 points, or 0.25 percent, to end at 77,414.92. The NSE Nifty also declined, going down by 72.60 points, or 0.31 percent, to close at 23,519.35. This downturn was attributed to weak trends in global markets, compounded by uncertainties surrounding potential tariffs from the Trump administration.
As markets opened on April 1, 2025, the Gift Nifty indicated a flat start at 23,368.50. Investors are closely monitoring several stocks due to important corporate developments that could influence market dynamics.
Among the notable developments, the government announced a significant decision regarding Vodafone Idea (VIL), converting Rs 36,950 crore in dues into equity. This move is seen as a timely support measure that will provide substantial cash flow relief to the telecom company over the next three years, enabling it to complete a long-delayed bank debt raise.
In corporate restructuring news, Reliance Industries has transferred its entire equity stake in Reliance Projects & Property Management Services Ltd. (RPPMSL) to Reliance Retail for Rs 100.4 crore. This change means that RPPMSL is no longer a wholly-owned subsidiary of Reliance Industries and will now operate as a step-down subsidiary.
DCM Shriram also made headlines by commissioning a new caustic soda flakes plant with a capacity of 300 tonnes per day at its chemicals complex in Jhagadia, Gujarat. This plant is expected to bolster the company's production capabilities in the chemical sector.
In a separate report, Hindustan Aeronautics Limited (HAL) announced a provisional revenue of Rs 30,400 crore for the financial year ending March 31, 2025, slightly up from Rs 30,381 crore in the previous year. This growth reflects HAL's continued commitment to the defense sector.
Dalmia Bharat Ltd (DBL), the fourth largest cement producer in India, has achieved a production capacity of 49.5 million tonnes per annum (MTPA) in FY25, showcasing its robust growth trajectory in the cement industry.
On the regulatory front, Bosch Ltd reported receiving a demand notice exceeding Rs 20 crore, including interest, from the Income Tax department for the assessment year 2022-2023. This notice could have implications for the company's financial planning and operations.
Aditya Birla Capital has completed the amalgamation of its wholly-owned subsidiary, Aditya Birla Finance, into itself, creating a larger, unified non-banking financial company (NBFC). This strategic move is expected to streamline operations and enhance financial performance.
HCLTech has launched a new subsidiary dedicated to public sector solutions in the United States, aimed at providing services to government entities at various levels. This expansion is part of HCLTech's strategy to tap into the growing demand for technology solutions in the public sector.
Aditya Birla Real Estate Ltd (ABREL) has sold its pulp and paper business to ITC for Rs 3,498 crore, aligning with its strategy to focus on the property business. This divestment reflects the ongoing trend of consolidation and strategic realignment in the corporate sector.
Lastly, TVS Motor Company announced that its Singapore-based arm has divested its stake in Ion Mobility while acquiring identified assets from the company for USD 1.75 million (approximately Rs 15 crore). This transaction is part of TVS's broader strategy to optimize its investment portfolio.
Power Grid Corporation of India has also approved an investment of Rs 673.08 crore for procuring six 397 MVA converter transformers for the Talcher-Kolar HVDC link, with commissioning targeted by September 2027. This investment is expected to enhance the efficiency of India's power transmission infrastructure.
As the market continues to react to these developments, investors are advised to stay informed and consult their financial advisors before making any decisions.
