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India’s primary market is set for an active week with three mainboard IPOs and six SME issues targeting around Rs 4,300 crore. Led by Clean Max Enviro Energy Solutions, the offerings span renewable energy, jewellery and engineering, testing investor appetite amid selective market conditions and sector-specific interest. View More
India's primary market is set for a busy week ahead, with three mainboard IPOs collectively looking to raise Rs 4,063 crore. The line-up includes renewable energy player Clean Max Enviro Energy Solutions, jewellery retailer PNGS Reva Diamond Jewellery and engineering solutions provider Omnitech Engineering. Alongside them, multiple SME issues will also hit the market. The combined mainboard and SME fundraising will be close to Rs 4,300 crore in the next week. This will test investor appetite at a time when markets remain selective and sector-specific. Clean Max Enviro Energy Solutions IPO The largest issue of the week is Clean Max Enviro Energy Solutions, which is aiming to raise Rs 3,100 crore through a combination of a Rs 1,200 crore fresh issue and a Rs 1,900 crore offer for sale. The IPO opens on February 23 and closes on February 25. The price band is set at Rs 1,000 to Rs 1,053 per share. Shares are scheduled to list on March 2 on the BSE and NSE. In the grey market, the GMP is muted at just close to 1% over the IPO price. Live Events Clean Max is India’s largest commercial and industrial renewable energy provider as of March 2025, according to a CRISIL report. As of July 2025, it had 2.54 GW of operational, owned and managed capacity, along with 2.53 GW under execution. The company sells renewable power under long-term power purchase agreements and energy attribute purchase agreements. It also provides EPC, operations and maintenance services, along with carbon credit solutions. Financially, the company reported total income of Rs 1,610 crore in FY25 with profit after tax of Rs 19.43 crore. Axis Capital is the book running lead manager. Also Read | Infosys-Anthropic deal sparks fresh debate: Is AI now an opportunity, not a threat, for Indian IT? PNGS Reva Diamond Jewellery IPO PNGS Reva Diamond Jewellery plans to raise Rs 380 crore through a fully fresh issue. The IPO opens on February 24 and closes on February 26. The price band has been fixed at Rs 367 to Rs 386 per share, with listing expected on March 4. The shares are commanding a moderate premium of 4% in the grey market. The company operates under the brand "Reva" and offers diamond and precious stone jewellery set in gold and platinum. As of September 2025, it operated 34 stores across 25 cities in Maharashtra, Gujarat and Karnataka under FOCO, FOFO and COCO models. For FY25, PNGS Reva reported total income of Rs 259.11 crore and profit after tax of Rs 59.47 crore. The IPO has a heavy institutional skew, with not less than 75% of the net issue reserved for QIBs. Smart Horizon Capital Advisors is the lead manager. Omnitech Engineering IPO Omnitech Engineering is looking to raise Rs 583 crore via a mix of Rs 418 crore fresh issue and Rs 165 crore offer for sale. The issue opens on February 25 and closes on February 27. The price band is Rs 216 to Rs 227 per share, with listing scheduled for March 5. The company manufactures precision-engineered components and provides turnkey industrial automation and mechanical systems across sectors such as automotive, aerospace, pharmaceuticals and general manufacturing. Omnitech operates three manufacturing facilities in Gujarat and had 1,807 permanent employees as of September 30, 2025. In FY25, the company reported total income of Rs 349.71 crore and profit after tax of Rs 43.87 crore. Proceeds from the fresh issue will be used for debt repayment of Rs 50 crore, setting up new projects across two facilities, capital expenditure at an existing facility and general corporate purposes. Equirus Capital is the book running lead manager. SME IPOs also lined up Alongside the mainboard offerings, six SME IPOs are scheduled next week. Shree Ram Twistex is set to raise Rs 110.24 crore and will open between February 23 and February 25. Kiaasa Retail plans to raise Rs 69.72 crore on the BSE SME platform during the same window. Accord Transformer and Switchgear, with an issue size of Rs 25.59 crore, and Mobilise App Lab, aiming to raise Rs 20.10 crore, are also scheduled to open on February 23. Striders Impex will open on February 26 to raise Rs 36.29 crore on NSE SME, while Yaap Digital is also expected to hit the SME platform. ( 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;} .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)
The AI-based innovation has been introduced in parts of Janakpuri falling under BSES Rajdhani Power Limited (BRPL) distribution area, said a BSES official. Much like "Google maps for electricity", the Digital Twin allows engineers to monitor outages, forecast potential equipment failures and simulate contingencies through an interactive dashboard. View More
New Delhi: Power discom BSES has showcased its innovation 'Digital Twin of a Power Network' that serves as a 'Google map' of the electricity distribution network, enabling real-time monitoring and automatic fault restoration . The AI-based innovation has been introduced in parts of Janakpuri falling under BSES Rajdhani Power Limited (BRPL) distribution area, said a BSES official. Much like "Google maps for electricity", the Digital Twin allows engineers to monitor outages, forecast potential equipment failures and simulate contingencies through an interactive dashboard. Its AI-driven analytics support automated fault restoration, significantly reducing outage durations and enhancing overall system reliability, he said. By integrating supervisory control and data acquisition (SCADA), geographical information system (GIS) and Internet of Things (IoT) sensors, SAP systems and smart meters into a unified digital ecosystem, the platform gives engineers real-time view of power flows across any area, he said. Live Events At the AI Impact Summit 2026 at Bharat Mandapam , BSES is offering a glimpse into the future of power distribution. Through a live demonstration of its Digital Twin of Network among other AI technologies, the utility is showcasing how artificial intelligence and advanced digital technologies are reshaping power management in the national capital, he said. BRPL has deployed India's first large-scale, real-time Digital Twin of a power distribution network in parts of its Janakpuri Division that will be further expanded, he said. It also helps track and curb power theft, optimise load management and improve grid resilience. Globally, similar digital twin systems have enabled utilities to cut operational costs by 2-4 per cent and reduce supply restoration times by up to 20 per cent, highlighting the transformative potential of this innovation for Delhi's power sector, the BSES official said. Soon the Digital Twin will be rolled out in the entire Janakpuri division, making it Delhi's first fully digitised and live-monitored power distribution division, he said. BSES has also upgraded physical power infrastructure in Janakpuri, working to remove the dense web of overhead wires. At C4E Block of Janakuri, BSES has completed a pilot project to shift overhead electricity cables underground. Nearly 400 metering installations have been renovated, old cement poles replaced with modern streetlight poles, and 17 new feeder pillars installed and integrated with an intelligent monitoring system for rapid fault isolation and restoration, he added. .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;} .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)
The Indian stock market recovered on February 20, with the Nifty 50 rising 0.46% to 25,570. Financials, metals, and FMCG sectors drove support, while broader markets showed mixed results, and oil prices surged due to geopolitical concerns. View More
The 2nd part capacity of 165 MW out of 1,200 MW Khavda-II Solar PV Project of NTPC Renewable Energy Ltd is declared on Commercial Operation with effect from 00:00 hrs of February 20, 2026 View More
In a significant ruling, the Supreme Court has mandated Rashtriya Chemicals and Fertilizers to refund ?218 crore, including interest, to Thermax Ltd. This decision reverses an arbitral award as determined by the Bombay High Court, which the apex court has chosen not to contest. Central to this legal battle was the claim for damages resulting from a malfunctioning gas turbine. View More
The Supreme Court has asked public sector fertiliser major Rashtriya Chemicals and Fertilizers (RCF) to refund ₹218 crore plus 6% interest to engineering conglomerate Thermax Ltd within four weeks. Refusing to interfere with the Bombay High Court order that set aside the 2023 arbitral award, the apex court dismissed RCF's appeal seeking to retain ₹218 crore deposited earlier by Thermax Ltd as a condition for staying the arbitral award that favoured the former. The HC had cited a lack of evidence and failure to provide reasons in the original award, which involved a dispute over gas turbine breakdown damages. .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;} .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)
RBI approval for Bharti Airtel to begin NBFC operations, to a stay on an arrest warrant against Ola Electric CEO Bhavish Aggarwal...among reasons why these stocks will be in focus today View More
The gross refining margin (GRM) for Indian Oil Corporation (IOC) quadrupled in the third quarter, while that of Bharat Petroleum (BPCL) grew over two-fold, aided by softer crude and stronger product cracks. View More
New Delhi: State-owned oil marketing companies (OMCs)-IOC, BPCL and HPCL-more than doubled their combined quarterly profit to ₹23,743 crore in the December 2025 quarter from ₹10,545 crore in the corresponding period a year ago, buoyed by robust refining margins and lower LPG under-recoveries. The gross refining margin (GRM) for Indian Oil Corporation ( IOC ) quadrupled in the third quarter, while that of Bharat Petroleum (BPCL) grew over two-fold, aided by softer crude and stronger product cracks. According to data from ICICI Securities, GRM for IOC stood at $12.2 per barrel, up from $3 in the year-ago period. It grew to $13.3 from $5.6 for BPCL, and to $8.9 from $6 for Hindustan Petroleum ( HPCL ). During the October-December quarter, crude oil benchmark Brent averaged $63.8 per barrel, down from $74.9 in the year-ago period. The crack spread-the difference between the price of crude oil and those of its refined products-on diesel, petrol and aviation turbine fuel improved from a year earlier. Live Events The benchmark Singapore GRM increased to $6.2 per barrel in the December quarter from $4.9 in the year-earlier period. Marketing margins muted The three state-run refiners, however, experienced a decline in marketing margins as pump prices remained the same. The retail margin on petrol was ₹7.8 per litre during the December quarter, down from ₹12 per litre a year ago, showed ICICI Securities data. Retail margin on diesel was ₹2.9 per litre, down from ₹8. IOC posted a profit of ₹12,126 crore during the quarter under review, while BPCL and HPCL reported profits of ₹7,545 crore and ₹4,072 crore, respectively. Compensation from govt For the three months ended December, the government also started paying the promised compensation to the oil marketing companies for selling cooking gas below market rates. Receipt of compensation, as well as lower liquefied petroleum gas (LPG) prices during the quarter, aided companies' earnings. Inventory gains, too, significantly aided IOC's profit. Of the more than one lakh petrol pumps in the country, 90% are operated by the state-run OMCs. Reliance Industries and Nayara Energy account for the remaining ones. .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;} .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)
Bharat Heavy Electricals Limited has secured a significant power plant project from Steel Authority of India Limited. The order is valued between Rs 1,200 crore and Rs 1,500 crore. This captive power plant is a crucial part of SAIL's expansion at its IISCO Steel Plant in Burnpur. Project completion is anticipated within 39 months of contract award. View More
New Delhi: State-owned engineering firm BHEL on Tuesday said that it has received a power plant project worth Rs 1,200-1,500 crore from Steel Authority of India Ltd ( SAIL ). The letter of acceptance received for a captive power plant, which is part of a 4.08 MTPA crude steel expansion project of SAIL's IISCO Steel Plant at Burnpur , BHEL said in a regulatory filing. The size of the order is in the range of Rs 1,200 crore to Rs 1,500 crore, excluding GST ( goods and services tax ), it said, adding that the commissioning of the project is expected in 39 months from the date of awarding the contract. .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;} .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)
Chief Economic Adviser V Anantha Nageswaran stated that AI's impact on India's demographic advantage hinges on current decisions, urging coordinated national action. He emphasized that technological adoption must be deliberately aligned with mass employability, requiring political will and national commitment to ensure human abundance and machine intelligence reinforce each other for co-created prosperity. View More