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GEF Capital Partners to pump in Rs 200 cr in Hyderabad-based Premier Energies
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Premier Energies Raises INR 200 crore Private Equity from GEF Capital, Plan to Triple Capacity by 2023 with an investment outlay of INR 1200 crore
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There is a demand-supply mismatch in solar manufacturing Is India making the right choice?
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Benchmark indices ended a volatile session with strong gains on Wednesday after the Reserve Bank of India announced measures to tackle the rising second wave of COVID-19 pandemic. The Nifty managed to close above the 14,600 mark. Barring the Nifty Realty index, all sectoral indices on the NSE ended in the green.
As per the provisional closing data, the S&P BSE Sensex, rallied 424.04 points or 0.88% to 48,677.82. The Nifty 50 index gained 121.35 points or 0.84% to 14,617.40.
In the broader market, the S&P BSE Mid-Cap index added 1.05% while the S&P BSE Small-Cap index surged 0.77%.
The market breadth was strong. On the BSE, 1,842 shares rose and 1,097 shares fell. A total of 173 shares were unchanged.
Revenue from operations inched up 0.7% year-on-year (YoY) to Rs 13,525.07 crore during the quarter.
The profit for Q4 FY21 was impacted by one-time exceptional loss of Rs 179.45 crore. During the quarter ended 31 March 2021, the Group has, based on advice from external legal counsel, derecognised certain interest claims on delayed payment amounting to Rs 179.45 crore, relating to earlier years. Though the management believes it has good grounds on merit for recovery of such interest, the same has been derecognized in the current year on conservative basis.
The EBIDTA for the quarter increased by 65% at Rs 1068 crore owing to better margins in IRM segment and increased sales in Domestic Content Requirement segment in solar manufacturing business, leading to better profits.