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Google, Amazon and Meta are seeing credit spreads widen as fixed-income investors demand more reward on companies they lend to. View More

watch nowVIDEO4:3404:34Investors punish heavy AI spenders, while rewarding the capex-lite business modelsTechCheck Investors are getting increasingly uncomfortable with the amount of capital needed to make the artificial intelligence buildout a reality. It's playing out in real time in the bond market, where the biggest names involved in the blitz — Google, Amazon and Meta — are seeing credit spreads widen as fixed-income investors demand more reward to lend to the companies.Yields ticked higher this week after Alphabet lifted its capex forecast, raising concerns that other hyperscalers could follow suit.Part of the reason capex budgets are going up is the rising cost of power. Energy is a major expense for all of the hyperscalers, which are constructing large data centers across the U.S. at breakneck speed. GE Vernova CEO Scott Strazik told CNBC he expects the current inflationary environment to remain, driven in part by the heightened geopolitical backdrop. Just this week, oil broke above $100 a barrel. The move in treasury yields is also inducing anxiety among fixed-income investors. Mizuho wrote to clients Friday morning that capex raises are testing investor limits as the companies, once seen as capital fortresses, are now seeing a dramatic rise in AI-tied costs.The analysts added that the hyperscalers are currently on track to collectively spend more on capex than they generate in free cash flow by next year."It's creating intense discussions between bond and equity investors who have exposure to the biggest names in tech," said the portfolio manager of a credit fund, who asked to remain anonymous in order to discuss sensitive conversations. Read more CNBC tech newsMoonshot AI accessed Nvidia's chips despite Chinese export ban, White House official saysAlphabet and Tesla test Wall Street's patience as AI spending overshadows growthAlphabet earnings takeaways: Q2 revenue beats, GOOGL stock sinks on 2026 capex hikeTesla misses on earnings, as free cash flow turns negative and margins slide As concerns grow, Oracle's 5-year credit default swap, or CDS, is once again trading at a multi-year high. In a note to clients published on Wednesday, Barclays credit analyst Andrew Keches wrote that Oracle's CDS is once again being seen as a proxy for AI debt fears. "The appeal of ORCL CDS in recent history has extended beyond company-specific fundamentals, reflecting its role as a liquid hedge on AI capex, OpenAI execution and broader data-center spending narratives," wrote Keches.Oracle is facing questions from investors about how active it plans to be in the debt market in the coming years, as the buildout and leasing of data centers continue to become more capital intensive.Earlier this month, ratings agency S&P Global downgraded Oracle's credit rating to BBB-, just one notch above junk status.Yet executives at the company remain confident in Oracle's ability to win the AI race. The company has a growing relationship with OpenAI and hyperscalers like Meta and Nvidia, which are also working with Oracle on cloud architecture.Still, portfolio managers who spoke to CNBC said the move in tech bond yields could impact financing future deals. Meta is looking to finance its $12 billion Texas data center with pricing expected to be finalized early next week, according to a source familiar with the talks, who asked not to be named in order to discuss the company's plans. The Financial Times reported that the deal will be priced at a higher borrowing rate than previous projects, a sign that investors want not only demand more, but are questioning the return on investment. watch nowVIDEO3:4403:44How the AI data center buildout is creating boom for the gas turbine industryTech Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

India will soon cross the landmark of 300 gigawatt (GW) of installed non-fossil fuel capacity. View More

The stock climbed 8.8% on the NSE to a high of ?99.39 compared with the previous close of ?91.30 View More

Adani Power awaits government rules for private nuclear sector entry. The company plans ten gigawatts of nuclear capacity by twenty thirty-five. Investment decisions depend on regulatory clarity and cost-effectiveness for consumers. Feasibility studies for potential sites in Madhya Pradesh are underway. India aims to significantly expand nuclear power capacity by two thousand forty-seven. View More

Adani Power 's plans to enter India's nuclear power sector remain dependent on one crucial hurdle: the government's finalisation of rules permitting private-sector participation , with the company saying it will take investment decisions only after regulatory clarity emerges. The Gautam Adani-owned entity, which has outlined an ambition to develop 10 gigawatts (GW) of nuclear power capacity by 2035, said it is evaluating both indigenous and international reactor technologies but is yet to zero in on a roadmap as the policy framework remains under development. Also read: Adani Power Q1 Results: Profit jumps 42% YoY to Rs 4,806 cr; co approves Rs 15,000 cr fundraise "It will all depend on which would be cost-effective. Electricity has to be viable for the Indian consumers, and the type of rates which are affordable to power distribution companies," Chief Executive Shersingh Khyalia said during the company's post-earnings call on Wednesday. Adani Power is also studying potential locations, including Bina and Nigrie in Madhya Pradesh, for future nuclear projects. Company executives said feasibility studies are underway and the sites are being kept ready so the company can move swiftly once the regulatory regime is in place. India is seeking to significantly expand nuclear power as part of its clean energy transition . The government last year opened the sector to domestic and foreign private companies and has set a target of raising the country's nuclear power capacity to 100 GW by 2047, from around 8.8 GW currently. Live Events If it proceeds with its proposed capacity addition, Adani Power could emerge as one of the country's largest nuclear power operators. State-run Nuclear Power Corporation of India (NPCIL), currently the sole operator of nuclear plants in the country, has a target of building 50 GW of nuclear capacity, while NTPC is aiming for 30 GW. Several private-sector players, including Tata Power and Reliance Industries , have also expressed interest in the emerging opportunity as India prepares to open up the strategically important sector. Also read: A look at billionaire Adani's businesses as he weighs starting an airline Record Q1FY27 earnings fuel expansion plans Adani Power posted its highest-ever quarterly operating and financial performance in the April-June quarter, with consolidated net profit rising 42% year-on-year (YoY) to Rs 4,806 crore, aided by robust power demand, higher generation and improved capacity utilisation. The company had reported a net profit of Rs 3,385 crore in the corresponding quarter last year. Revenue from operations climbed 34% YoY to Rs 18,902 crore, while consolidated EBITDA increased 36% to Rs 8,369 crore. Continuing EBITDA rose 22% to Rs 6,983 crore from Rs 5,744 crore a year earlier. The board also approved raising up to Rs 15,000 crore through the issuance of equity shares via qualified institutional placement (QIP) or other permissible routes to support its growth plans. The company's consolidated power sales rose 17% to 28.8 billion units during the quarter from 24.6 billion units a year ago, while electricity generation touched a record 31 billion units. Installed capacity increased to 18,330 MW from 17,550 MW, with plant load factor improving to 77.9% from 67%, reflecting better utilisation of its generation fleet. Adani Power also recognised Rs 1,386 crore as net prior-period income during the quarter, primarily following revisions in historic energy charges under certain power purchase agreements (PPAs), compared with Rs 406.21 crore in the year-ago period. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

India and Myanmar are enhancing cooperation in rare earths sector. Indian teams visited Myanmar in December 2024 and February 2026. This collaboration aims to secure strategic mineral supplies for India. Myanmar's Kachin state is a key source of heavy rare earths. Both nations see significant win-win opportunities from this partnership. View More

India and Myanmar are working to deepen cooperation in the rare earths sector after visits to the southeast Asian country by Indian teams, with New Delhi seeking alternative supplies of a strategic resource tightly controlled by China. In a speech on Wednesday at the opening of a mining forum in Mandalay, India's Ambassador to ‌Myanmar Abhay ⁠Thakur outlined ⁠the growing bilateral collaboration between the two countries on rare earths. Cooperation in the ​mining sector has gained significant momentum over the last two years, Thakur said. This includes two Indian delegations on rare earths and critical minerals that have visited Myanmar in December 2024 and February 2026, he said. Also read: Rare earth minerals explained: Why are they the world's most strategic resources? Live Events The matter ​has also received high-level attention during a official ⁠visit by ‌junta chief turned president Min Aung Hlaing to India ​in May-June, ​according to Thakur. Thakur said, "India's need for harnessing critical minerals, ⁠coupled with the benefits to Myanmar from sustainable mining, ​presents solid, win-win, short and long-term opportunities." Nearly ​half the world's supply of heavy rare earths is extracted from mines in Myanmar's Kachin state, which are then shipped to China for processing into magnets that power electronic vehicles and wind turbines, Reuters has reported. Reuters previously also reported that India has sought rare-earth samples via the ‌rebel Kachin Independence Army (KIA), which controls Myanmar's main mining hubs, near the Chinese border. At the Mandalay mining forum, Thakur said the Indian firms in ⁠attendance include IREL , NTPC Mining , Himadri Specialty, Oceanic Sands, PrNd Metal & Magnets, and Jai Puri Holdings. Thakur also said that "Midwest from India" has also closely ​engaged with Myanmar in recent months and years, without specifying the nature of the involvement. Reuters has previously reported that the state-owned miner IREL and private firm Midwest Advanced Materials were among those involved in discussions to explore the collection and transportation of samples from mines under KIA control. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Maharashtra State Electricity Distribution Co has appointed eight investment bankers for its proposed initial public offering. This significant issue could potentially raise between eight thousand and ten thousand crore rupees. The offering will mark the first-ever IPO by the Maharashtra government and a state-run discom. Mahavitaran, the brand under which MSEDCL operates, will be listed. The utility provides power to most consumers in India's largest subnational economy. View More

Mumbai: Maharashtra State Electricity Distribution Co (MSEDCL) has appointed eight investment bankers for its proposed initial public offering , which could raise ₹8,000-10,000 crore, people familiar with the development told ET. The issue will mark the first-ever IPO by the Maharashtra government -and a purely state-run discom in India. Eight investment bankers -SBI Capital Markets, Axis Capital , IDBI Capital Markets & Securities, ICICI Securities, HDFC Bank , IIFL Capital Services , DAM Capital and Motilal Oswal Investment Advisors-have been appointed to manage the offering, according to the people familiar with the matter. An email sent to MSEDCL did not elicit any response. Individual bankers did not respond to ET's request for a comment. Read more: Can Indo-MIM IPO deliver long-term growth for high risk investors? The listing will be of Mahavitaran, the brand under which MSEDCL operates. Mahavitaran provides power to the bulk of the consumers in India's biggest subnational economy, barring the city of Mumbai. The utility, however, carries significant debt on its balance sheet. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

CNBC's Jim Cramer urged investors not to overreact to earnings season volatility, saying short-term market moves often defy conventional logic. View More

In this article.DJI.IXIC.SPXUS10YFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO1:1401:14During earnings season, sometimes you have to sit back and take it all in, says Jim CramerMad Money with Jim Cramer CNBC's Jim Cramer cautioned investors against reacting to every twist and turn of earnings season."Sit on your hands during earnings season. Just try to take it all in and accept that the market has its own secrets that will be revealed over time," the "Mad Money" host said on Wednesday. "You just have to own good companies long-term and block out the short-term noise, except when it gives you nice buying opportunities."The major averages finished little changed Wednesday. The Dow Jones Industrial Average dropped six points, or 0.01%, while the Nasdaq slipped nearly 0.6% and the S&P 500 fell just over 0.1%. Beneath the surface, however, Cramer said a flood of earnings reports, U.S. strikes against Iran and shifting expectations for oil prices and interest rates created a market where stocks moved in ways that defied conventional logic. "The cross-currents are roiling everything," Cramer said. "That's how you get open field running, where stocks can reverse on a dime."A perfect example was GE Vernova, which fell 8.7% after an earnings miss. While acknowledging the miss, Cramer said the power equipment maker's strong cash flow and robust turbine demand suggest its long-term outlook remains intact. GE Vernova is a holding in Cramer's Charitable Trust, the portfolio used by CNBC Investing Club. Nvidia, also a Club name, offered another example of the market's unpredictable behavior. The AI chipmaker opened lower despite no company-specific news. It reversed and closed up 2.3% — a move that, Cramer said, may have been fueled by optimism surrounding AI server maker Super Micro's surge in new orders. He asked, "Delayed reaction? Ball of confusion? That makes sense."Cramer said the seemingly contradictory moves extended to the utility sector.Utility companies like Sempra and Dominion rose 2.7% and 1.8%, respectively, even as Treasury yields continued to climb. Since investors often buy utilities for their dividend income, Cramer said the sector typically comes under pressure when higher bond yields make fixed-income investments more attractive. Rather than trying to explain every market move in real time, Cramer said that investors should focus on owning quality companies and resist the temptation to chase every headline. "Don't expect or demand rationality. Don't bet the house on earnings numbers. In the end, you don't need to," he concluded. watch nowVIDEO10:1810:18Jim Cramer talks the 'fog' around earnings seasonMad Money with Jim Cramer Jim Cramer's Guide to InvestingClick here to read Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Ayr alleged that an individual joined the company under false pretences, gained access to confidential information, and later joined Zetwerk to lead a newly established transformer business. View More

The Indian stock market remained range-bound due to fragile investor sentiment amid West Asian tensions. Despite modest losses in benchmark indices, broader markets performed well, supported by select sectors.  View More

India has sufficient coal stocks to meet electricity demand, with 42.8 million tonnes available at thermal power plants as of July 12, enough for 14 days at 85% plant load factor, the government informed the Rajya Sabha. Coal-based plants, with a capacity of 230.8 GW, supplied nearly 70% of the country's electricity between April and June, while coal supplies are being monitored daily by an inter-ministerial committee. View More

India has adequate coal stocks at thermal power plants to meet electricity demand, with 42.8 million tonnes (MT) available as of July 12, 2026, sufficient for 14 days at 85 per cent plant load factor (PLF), the Ministry of Power said on Monday. The Ministry said coal-based generation capacity, including lignite-based capacity, stood at around 230.8 GW and accounted for 69.54 per cent of total electricity supplied between April and June 2026. During non-solar peak demand hours, maximum generation from these plants reached about 188.8 GW, or nearly 75 per cent of the total generation of 251.4 GW. "Also, sufficient coal is being received at present by the Thermal power Plants to meet the daily demands," the Ministry said in a written reply in the Rajya Sabha. The government said coal supply to thermal power plants is being monitored daily through a joint committee comprising the Ministry of Power, the Railways and the Ministry of Coal. Priority has also been accorded to coal rakes and dispatches to power houses. An Inter-Ministerial Committee comprising the Chairman of the Railway Board and the Secretaries of the Ministries of Coal and Power is also meeting regularly to review coal supplies to thermal power plants, the press release mentioned. Live Events The Ministry said scheduled maintenance of thermal units is planned in advance, taking into account the demand scenario for different months. "It is a standard practice to minimize scheduled maintenance during the peak months," it said, adding that the Central Electricity Authority monitors maintenance schedules and permits deferment on a case-to-case basis when increased demand requires such action. The government has also taken steps to improve grid flexibility and integrate renewable energy into the power system. The Central Electricity Authority (Flexible Operation of Coal-based Thermal Power Generating Units) Regulations, 2023 mandate coal-based thermal power units to achieve a minimum technical level of 40 per cent in accordance with the phasing plan specified by the CEA. During FY2025-26, 9,470 MW of thermal capacity was added, while another 2,260 MW has been commissioned during the current financial year. Energy storage is also being expanded to support the grid during non-solar hours. Around 2,669 MW of Battery Energy Storage Systems and 7,426 MW of Pumped Storage Projects have been commissioned so far. These systems store surplus power generated during solar hours and utilise it primarily when solar generation is unavailable. The information was given by Minister of State for Power Shripad Naik in a written reply in the Rajya Sabha. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)