India is considering linking its power grid to those of Saudi Arabia and the United Arab Emirates through undersea cables, with India’s power ministry circulating Cabinet notes for inter-ministerial consultation to initiate the process to expand access to reliable power and enhance the country’s energy security.

The Asian markets are trading mixed as investors watch out for big Tech earnings later this week. While Nikkei is trading higher by 0.27%, Hang Seng is trading lower by 1.32% and Shanghai is trading lower by 0.53%.

We define value strategy as picking stocks wherein the market is pessimistic about the future growth prospects of a company to start with while the fundamentals of the company remain robust amid improving near-term growth prospects. Success of a value strategy hinges on avoiding ‘value traps’ and signs of ‘recognition of value’ by the market.

PV revenue growth likely to remain strong in Q4 at ~20% YoY for our coverage but margin pressure set to continue

The Asian markets are trading mixed tracking soft cues from Wall Street over the weekend. While Nikkei is trading higher by 0.27%, Hang Seng is trading lower by 0.19% and Shanghai is trading lower by 0.23%.

Gas-based power plants are ready to meet any power deficit during the peak demand period this summer, and availability of natural gas is being ensured by GAIL India and Petronet LNG. Both GAIL and Petronet have issued several tenders to import liquefied natural gas (LNG) for deliveries in May'23 and Jun'23.

The overall growth momentum of the Indian economy is being sustained, even though a few lead indicators

The combination of the softer domestic gas prices expected over FY24E-FY26E and the persistent softness in spot LNG prices should be a comfort for margins of the CGDs (city gas distribution companies). Our estimates are building-in (‘spot LNG price of’) ~US$20/mmbtu over H1FY24E and ~US$30-32/mmbtu average price for H2, implying an average price of US$25-26/mmbtu for the full year in our base case estimates.

The Asian markets are trading lower tracking weak cues from Wall Street overnight and investors factoring the data that showed Japan's core inflation for Mar'23 at 3.1%, unchanged from Feb'23. Nikkei is trading lower by 0.07%, Hang Seng is trading lower by 0.36%, and Shanghai is trading lower ..

India’s economic activity is expected to decline and witness a lower growth print in FY24 on the back of a buoyancy in the services sector, moderation in inflation and the consistency in public sector capital expenditure, stated a report by Acuité Ratings on Thursday.