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The favorite energy stocks of hedge funds - including one with a projected 65% upside View More
In this articlePSX@NG26UFollow your favorite stocksCREATE FREE ACCOUNT SUBSCRIBE TO CNBC'S "POWER INSIDER NEWSLETTER POWER POINT What I'm hearing from energy insidersGreetings from Colorado, where I had the opportunity to do a nearly hour-long chat with the Chair of the Federal Trade Commission. While most of the conversation with Andrew Ferguson was about A.I. and Big Tech, we did venture a little bit into energy vis-à-vis Europe and its energy woes.'Woes' is the correct term. The continent has been in a constant state of nervousness since the Nord Stream pipeline was blown up in 2022.My take →  It's incredible that we have satellites that can see into your car from thousands of miles high, but we still don't know who perpetrated one of the largest acts of industrial sabotage of all time. The European energy story is one we've been reporting on at CNBC over the last 4 years. We've highlighted how critical U.S. LNG sales are to Germany and other nations, as well as the real risk of 'energy poverty' in wealthy countries like the U.K. Let's be brutally honest: Europe is not just a victim of pipeline sabotage. The continent is being hammered by a number of odd energy policy decisions, from closing zero-emission nuclear plants or shutting down natural gas facilities.Many rational energy actors are scratching their heads. Climate risk tends to be front and center for many of these policy moves, so it's somewhat ironic that relatively mild weather the last few years has helped 'save' Europe from an even more serious energy situation.Europe's weather luck may have run out this year, and the war in Iran is going to make things worse. Here's why.It's been a hot summer across much of Europe. Although air conditioning is not ubiquitous across the continent - at least not yet - its use is increasing. That's raising the need to make power, which is cutting into natural gas storage levels. Europe also gets a big chunk of natural gas from shipped-in imports from the Middle East, United States and - rather ironically - Russia.   Key Point → Europe has agreed to end all imports of Russian LNG by the fall of next year, with a phase-out starting this year. It's not clear to me how you go from record imports to zero imports in twelve months, but that's the plan. Europe doing Europe things. Zoom In IconArrows pointing outwards This data from Germany's Federal Network Agency - which tracks energy and energy storage levels - is as telling as it is a little scary. It's the "percent of storage levels" for natural gas right now. The blue line is natural gas storage from October of last year through September of this year. The orange line is the same period one year ago, with the shaded grey area a rolling average. You don't have to speak German to read this chart and see that the situation is not ideal.  Natural gas storage levels are lower than last year and right at the bottom end of the rolling average. If Germany has a cold winter and power demand rises to heat homes and businesses, those storage levels will draw down quickly. If that happens, Germany will have to cut back on gas use or face increasingly low levels of gas storage heading into next year. Zoom In IconArrows pointing outwards European demand for natural gas would seem bullish for U.S. exporters Cheniere (LNG) and Venture Global (VG). I say 'seem' bullish because while there's no doubt Europe would like to buy our LNG, market chatter suggests many of those cargos are heading to Asia instead. Much Qatari LNG is now off-line due to Iranian attacks, and Asian buyers will be eager to snap up any excess capacity the U.S. may have.Diesel fuel prices continue to climb higher. AAA reports the national average at $5.47 per gallon. It's higher than that in many cities around America, including the eye-watering $7 dollars per gallon in parts of California. Nationally, diesel is closing in on its nominal record high of $5.81 set back in June 2022. Piper Sandler notes that diesel and jet fuel inventories fell by a half million barrels last week when they would normally start to stay flat or even higher ahead of the fall. The Iran conflict and Russia's war on Ukraine are also contributing to higher diesel prices as a chunk of global refining capacity is now offline.RBI → Inflation adjusted, gasoline and diesel were higher back in 2008.  Speaking of fuel costs, California historically has some of the highest fuel prices in America. Much of that is because of sky-high taxes. The state has the highest gasoline taxes in the country, adding over 70 cents for every gallon you put in the tank. Don't hold your breath hoping those ever go down. It is California, after all.High gas prices in California aren't just because of taxes. Lack of oil refining capacity is another main reason. Already short on fuel refining, the state lost two other big refineries in the last year. Imports are needed to meet demand. Ships have been the main source of any imported fuel... but that may change in a few years if three companies get their way. If you know the state and its policies, it may seem impossible but the Golden State may get a new pipeline. The project - called Western Gateway - would come courtesy of oil, gas, pipeline and refining companies Phillips 66 (PSX), H.F. Sinclair (DINO) and Kinder Morgan (KMI). When built, the pipeline would connect with some already existing lines around Los Angeles and in parts of the Midwest. Here's our CNBC map of the project. It could also help neighbor Arizona, which, rather bizarrely, relies on California for much of its gasoline imports. Zoom In IconArrows pointing outwards If you're reading this from outside the United States, you may not realize how big California and its fuel demand really are. The state is home to over 30 million registered vehicles. And while a growing number of those cars and trucks are electric, millions of Californians are driving their gasoline-powered vehicles longer distances because they are forced to live farther away from work.  If built, the Western Gateway could be a pipeline to lower gasoline prices for millions of drivers. But, like with most things oil- or gas-related in California, nothing is certain until its finished. Which in this case will be 2029 at best. Thanks for reading,Brian Zoom In IconArrows pointing outwards WALL STREET'S TAKE It's peak summer, which means that analyst calls on energy stocks are drying up faster than parts of red-hot Europe. But this is cool. Our CNBC Pro team helped me dig up data on the 15 energy stocks most owned by giant hedge funds. We know this from filings to the U.S. government. Keep in mind the filing data is for the previous quarter and could have changed between then and when we get the data.That said, let's dive in. Zoom In IconArrows pointing outwards The most owned hedge fund energy stock is not a household oil and gas name. It's pipeline player Williams (WMB). While we can't know exactly why each fund has bought Williams, I'll speculate a bit and say that the company is aggressively pushing into A.I. and data center action by directly connecting natural gas to power sources.Chevron is the 2nd most owned energy stock last quarter. That's not a surprise, but the next few may be. Third on the list is another pipeline play, the massive Energy Transfer (ET). That's followed by Devon Energy (DVN), Antero Resources (AR) and Expand Energy (EXE).Some smaller names that stick out to me on the hedge fund list are Solaris Energy Infrastructure (SEI), ProPetro Holding Corp (PUMP), Golar LNG (GLNG) and BKV Corporation (BKV).Some of these stocks also have the most upside seen by analysts. Solaris is a full 65% lower than its $95.52 target. The company builds out power infrastructure solutions, things like mobile electricity and other A.I. demands.Midland, Texas-based ProPetro (PUMP) also is involved in power generation with a big fracking business to go along with it. It's 43% below its consensus price target. Zoom In IconArrows pointing outwards Speaking of pipelines, a company in the news - and also on the hedge fund list above - is Targa Resources (TRGP). The little-talked-about pipeline player announcing a 20-year deal with ExxonMobil (XOM). Targa will help Exxon continue to build out in Texas' Permian Basin and it will add some new land to the company's holdings. TAKE A LOOK I spoke with Bison Interests CIO Josh Young about energy markets hitting record highs as global conflicts disrupt oil flows and reshape supply dynamics. watch nowVIDEO4:3704:37Bison Interests' Young: Could see higher oil prices but lower prices at the pump in the futurePower Lunch RANDOM, BUT INTERESTING Nuclear stocks haven't had a full meltdown this quarter, but it's not been a good run.  Let's see if these lower prices - and valuations - bring back buyers. Zoom In IconArrows pointing outwards THE GRID There's some energy talk in my 'fireside chat' with FTC Chair Andrew Ferguson.  Here's the full 45ish-minute interview: A Fireside Chat with FTC Chairman Andrew Ferguson UneditedChina cutting off some solar and wind power because the grid can't absorb it all: China's Renewables Boom Faces Record Clean Power Curtailments | OilPrice.comSee the RBI above: Short sellers reap $2bn profit as modular nuclear reactor stocks tumbleUAE says Iranian forces launched two missiles at it but thankfully both dumped into the sea: UAE Says Iran Launched Two Missiles at ItThe fight keeps heating up around data centers and power lines: WA utility can take land for data center power lines, judge rules | The Seattle Times The fight is also apparently growing in Texas: How data centers and power lines could turn Texas governor's race blue | POLITICO This is my 2nd pick off the same album but Goose's song Torero is just too good to pass up: Goose - Torero (Official Lyric Video)Catch up with more on energy including interviews and video content from CNBC and Power Insider.   Read the most recent issue of Power Insider: Top energy plays for the rest of the year... including a 'behind-the-meter' power play Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Lumino Industries has fixed the price band for its Rs 700 crore IPO at Rs 78–Rs 82 per share, with the issue set to open for subscription on August 27 and close on August 31. The IPO comprises a Rs 500 crore fresh issue and a Rs 200 crore offer for sale, with a substantial portion of the fresh issue proceeds earmarked for debt repayment. View More
Lumino Industries has fixed the price band for its Rs 700 crore initial public offering (IPO) at Rs 78 to Rs 82 per equity share, setting the stage for the company's public market debut. The IPO will open for subscription on August 27, 2026, and close on August 31, 2026, while anchor investor bidding is scheduled for August 25. The IPO comes at a time when Lumino Industries is looking to strengthen its balance sheet and expand its manufacturing capabilities. Of the Rs 700 crore issue, Rs 500 crore will come through a fresh issue of 6.10 crore shares, while Rs 200 crore will be raised through an offer for sale (OFS) of 2.44 crore shares by promoter shareholders Devendra Goel and Jay Goel. At the upper end of the price band, investors will need Rs 14,924 to apply for one lot of 182 shares. The company is proposed to be listed on both the NSE and BSE, with the tentative listing date set for September 3, 2026. The price band translates into a P/E multiple of 11.87 times at the lower end and 12.48 times at the upper end, based on diluted FY26 earnings. This compares with an average industry peer-group P/E of 48.55 times for FY26, according to the company's offer document. Lumino Industries IPO proceeds A substantial portion of the fresh issue proceeds is earmarked for reducing the company's debt. Lumino Industries plans to use approximately Rs 337 crore for the prepayment or repayment of certain outstanding borrowings. Live Events The company has also proposed spending around Rs 15.01 crore on capital expenditure, including equipment and machinery purchases as well as civil works and interior development at an existing manufacturing facility. The remaining proceeds will be deployed towards general corporate purposes. Lumino Industries' financial performance The company reported an improvement in both revenue and profitability in FY26. Total income rose 7% to Rs 2,089.31 crore in FY26, compared with Rs 1,946.68 crore in FY25. More significantly, profit after tax increased 28% to Rs 160 crore, from Rs 124.59 crore in FY25. The stronger growth in profit compared with total income points to an improvement in the company's earnings performance during the year. About Lumino Industries Established in 2005, Lumino Industries is an integrated engineering, procurement and construction (EPC) and manufacturing company focused on India's power transmission and distribution sector. The company manufactures conductors, power cables, electrical wires and high-temperature low-sag (HTLS) conductors, which are used in power transmission and distribution infrastructure. Its EPC business covers power transmission and distribution, EHV substations, HTLS re-conductoring, railway electrification, solar power projects and water management projects. The company caters to major EPC players in India and also serves international customers, including government-owned electricity companies, public enterprises and electricity boards across several countries. As of March 31, 2026, Lumino Industries had 890 permanent employees. With the price band now set, the next major trigger for Lumino Industries will be anchor investor participation on August 25, followed by the response from retail and institutional investors when the IPO opens on August 27. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.) .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)
India is set to boost its solar cell production capability in the near future. This project is designed to comply with local-content regulations and to close the existing supply deficiencies. By December 2027, a noticeable increase in cell output is anticipated, driven by new investments aimed at ensuring long-term energy resilience. The market is evolving to meet local demands, effectively alleviating supply issues. View More
Saatvik Green Energy's subsidiary has secured a ?190 crore order for solar PV modules, marking its second significant order in recent weeks.  View More
The operational solar power project will meet the energy needs of the manufacturing facility and enhance renewable energy integration View More
Hindustan Power on Thursday announced financial closure of Rs 1,135 crore for its 300 MW solar project in Uttar Pradesh. The project is progressing as per the planned development schedule and is set to strengthen Uttar Pradesh's growing renewable energy capacity, Hindustan Power said in a statement. "Hindustan Power has achieved financial closure for its 435 MWp/300 MW solar power project in Lalitpur district, Uttar Pradesh, with the IREDA sanctioning debt of Rs 1,135 crore," the statement said. The project has a long-term power purchase agreement (PPA) with Uttar Pradesh Power Corporation Ltd (UPPCL) and was awarded to Hindustan Power through a competitive bidding process in 2025. The project is among the largest solar projects being developed in Uttar Pradesh and will contribute towards meeting the state's growing energy requirements through clean power generation. Hindustan Power Chairman Ratul Puri said Uttar Pradesh is experiencing growing energy demand alongside an increasin View More
The IPO, which opened for subscription from August 17 to August 19, witnessed a decent response from investors. The issue was subscribed 1.45 times overall. View More
The allotment status for Horizon Industrial Parks’ Rs 2,600 crore IPO is expected to be finalised today, Thursday, August 20. Investors who subscribed to the issue can check their allotment status online through the registrar’s website, as well as the IPO allotment pages of the BSE and NSE, once the status is made available. With the grey market premium (GMP) currently indicating a 2% premium, investors will be watching the allotment and listing closely. The IPO, which opened for subscription from August 17 to August 19, witnessed a decent response from investors. The issue was subscribed 1.45 times overall. The retail portion was subscribed 96%, while the Non-Institutional Investors (NIIs) portion saw 98% subscription. Qualified Institutional Buyers (QIBs) led the demand, with their portion subscribed 1.85 times. The Rs 2,600 crore issue comprised an entirely fresh issue of 43.34 crore shares. The company had fixed the IPO price band at Rs 57–Rs 60 per share. Horizon Industrial Parks shares are proposed to be listed on both the NSE and BSE. The tentative listing date is August 24, 2026. JM Financial Ltd. served as the book-running lead manager for the IPO, while KFin Technologies Ltd. served as the registrar. Live Events Investors can verify their allotment through either of the following platforms: 1. Registrar’s Website Visit Horizon Industrial Parks Allotment page (https://ipostatus.kfintech.com/)Select Horizon Industrial Parks from the drop-down menu.Enter your PAN, application number, or DP/Client ID to view allotment details. 2. NSE Website (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids) Go to NSE IPO Allotment pageSelect EquityChoose Horizon Industrial ParksEnter your application number and PAN. 3.BSE Website ( https://www.bseindia.com/investors/appli_check) Select Equity under issue type.Select Horizon Industrial Parks from the dropdown.Enter your application number OR PAN number.And fill the captcha and click search to view allotment. Horizon Industrial Parks IPO – Objects of the Issue The company intends to use the net proceeds from the IPO primarily to reduce its debt obligations. Of the total proceeds, Rs 2,250 crore has been earmarked for the repayment and/or prepayment of certain borrowings. A substantial portion of the funds will go towards repaying loans availed by the company and its wholly owned subsidiaries, including Bagur Logistics Park Pvt. Ltd., Embassy Industrial Park Hosur Pvt. Ltd., Farukhnagar Logistics Parks LLP, FRK II Industrial Park Pvt. Ltd., Goodluck Buildtech Pvt. Ltd., ILV Distripark Pvt. Ltd., ILV Distripark (MWC) Pvt. Ltd., Jindpur Industrial Park Pvt. Ltd., and Kalina Warehousing Pvt. Ltd., among others. The proposed debt reduction is expected to strengthen the company’s balance sheet and lower its financial obligations and associated costs. Any surplus proceeds may be utilised for general corporate purposes, subject to applicable laws and regulations. Financial Performance Horizon Industrial Parks Ltd. recorded a 75% year-on-year increase in total income, which rose from Rs 439.35 crore in FY25 to Rs 767.84 crore in FY26. Despite the strong growth in income, profitability remained under pressure, with the company’s net loss widening to Rs 203 crore in FY26 from Rs 178 crore in FY25. About Horizon Industrial Parks Incorporated in 2009, Horizon Industrial Parks, backed by Blackstone Group, is India’s largest industrial and logistics infrastructure developer, owner, and operator by total network, according to a JLL report. As of the DRHP date, the company owns 45 logistics and industrial assets across 10 major Indian cities, totaling 58.01 million square feet (msf). The company develops and leases large, modern warehouses and industrial facilities to major companies. Its core asset types include Fulfillment Centers (Warehousing), Industrial Facilities, and In-City Centers: Located close to consumers to support last-mile delivery and used for dark stores, pharmaceuticals, cloud kitchens, retail, and services. The company has a total pipeline of 6.31 msf across seven cities. In addition, the company offers turnkey solutions, solar energy solutions, cold storage facilities, on-site staff accommodation, skill development centers, and other value-added services. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .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)
Asia’s hydrogen train push may be less about rail and more about building a broader hydrogen economy. View More
TOPSHOT - A man takes a selfie with the Indian Railways' hydrogen-powered train after its flagging-off ceremony at Pandu Pindara railway station in Haryana's Jind city on July 17, 2026. India launched its first hydrogen-powered train July 17, joining a small group of nations testing the technology as part of efforts to decarbonise rail transport and cut dependence on fossil fuels. (Photo by Arun SANKAR / AFP via Getty Images)Arun Sankar | Afp | Getty Images A swath of Asian governments is trying to get ahead of the curve on hydrogen-powered transport.While the technology is years or even decades away from commercial success, its potential as a sustainable energy source has countries like India, Japan, China and South Korea working to establish programs to try it out.The motivations vary. Japan's push is part of its hydrogen society roadmap, while South Korea's reflects conglomerates' focus on integrated industrial hydrogen ecosystem that may include rail, according to Ravi Krishnaswamy, managing director at Frost & Sullivan Asia Pacific. China is building its fuel-cell supply chain for export competitiveness, while India is focusing on low-cost rail retrofits in line with its national self-sufficiency vision."There is no doubt on the fundamental ability of hydrogen to decarbonize hard-to-abate industries," Rajeev Pandey, senior analyst for hydrogen research at Rystad Energy, told CNBC. The long-term potential is "real but narrower than the hype," he said, adding that he expects the hydrogen economy to become commercially feasible at scale only in "defined lanes" on a 2030s and 2040s timeline. South Korea and India are among the most likely markets to see meaningful commercial adoption of hydrogen train over the next decade, Pandey said, while Japan could see a smaller commercial rollout.India launched its first hydrogen-powered train in last month. Indian Railways said in 2023 it envisioned running 35 hydrogen trains under its "Hydrogen for Heritage" initiative on heritage and hill routes. In July, India launched 12 pilot projects that involve deploying 70 hydrogen-powered vehicles, comprising 27 buses and 43 trucks, and setting up 16 hydrogen refueling stations across 21 routes in the country. The hydrogen fuel cell-powered train was more of a "technology demonstration" and may find use in some niche routes in the hilly areas of India, Vivek Lohia, managing director at Jupiter Wagons, a rolling stock provider to Indian Railways, told CNBC. A shift toward hydrogen could take over two decades, he said. Under the National Green Hydrogen Mission, New Delhi is investing in hydrogen fuel cell technology not just to reduce its reliance on fossil fuel but to become a global hub for "production, usage and export of green hydrogen and its derivatives."India could see around $34 billion invested in green hydrogen and green ammonia capacity by 2030, based on current investment plans, according to the Asian Development Bank. Asia's hydrogen race In Japan, East Japan Railway plans to put its hydrogen-hybrid train, HYBARI, into service by the end of fiscal 2027. "Investment in hydrogen-powered trains is still a niche decarbonization tool and a potential anchor-demand instrument for wider hydrogen ecosystem development in the long run, and not a direct replacement to electric rail corridors," Krishnaswamy said.Daejeon, south of Seoul, plans to deploy 34 hydrogen-powered trams by 2028, while South Korea is investing 32.1 billion won through 2027 in a hydrogen train demonstration project. The government expects the global hydrogen train market to grow by more than 25% annually to $26.4 billion by 2035. China has also made advances in hydrogen rail, with CRRC Changchun unveiling the country's first hydrogen-powered tourism train last year, said Krishnaswamy.  Hydrogen-powered rail should be viewed as part of a broader hydrogen market development strategy rather than a standalone transportation solution, Krishnaswamy said. It offers a visible and predictable way to help make early investments in production, storage and refueling infrastructure less risky. In India and China, rail could serve as one of several "strategic demand anchors" alongside industries such as steel and shipping, helping accelerate market creation and support the transition toward cost-competitive green hydrogen, he said.Energy security is another factor, according to both analysts. India, Japan, South Korea and China all remain heavily dependent on imported fossil fuels. Hydrogen can be stored and traded, while countries such as India and China can also produce it domestically, Pandey said.For Japan and South Korea, there is another strategic consideration: industrial competitiveness amid China's dominance in areas such as solar and batteries. Hydrogen and fuel cells are among the few clean-energy value chains where the two countries still have a technological lead, Pandey said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.