Sensex Trades Marginally Lower, Dow Futures Up By 11 Points

The new pool of liquidity strengthens AGEL's strategy to fully fund its under-construction asset and augurs well for its vision of scaling capacity to 25 GW by 2025. The facility is an important element of AGEL's overall capital management plan and is key to fully funding its growth aspirations.

AGEL shall engage with the financiers to raise financing efficiently and expeditiously for all the future projects as per the agreed threshold parameters, it added.

The facility will also ensure capital recycling needs of the banks and make the same capital available for future projects of AGEL and will position the company well to capture growth in the attractive Indian renewable sector, he added.

AGEL, a part of India-based Adani Group, has one of the largest global renewable portfolios with over 14,815 MW of operating, under-construction, and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, shares of Adani Green Energy were trading up by 2.7% on the BSE.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani, breaks down his most profitable trade of the year, in his latest video for Fast Profits Daily.

Moving on to news from the engineering sector...

Varroc Engineering said that it has entered into a contract manufacturing agreement with Vancouver-based Delta-Q Technologies Corp. As per a co-operation agreement inked between the two entities, Varroc would manufacture Delta-Q's chargers in India to support the expansion of the electric two and three-wheeler market.

Delta-Q is a leader in the design and supply of high-reliability on-board chargers for original equipment manufacturers in a variety of industrial and consumer markets in the US, Europe, and Asia.

"Post the implementation of BS-VI, the transition to EV is the most significant opportunity in the Automotive Electronics industry. With this partnership with Delta-Q, we aim to enhance our electric vehicle (EV) component portfolio," Varroc President - Electrical Business Unit Arjun Jain said in a statement.

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