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Bharat Petroleum Corporation (BPCL) and GPS Renewables have entered into a Joint Venture (JV) agreement to establish Compressed Biogas (CBG) plants across India. This strategic alliance is a significant step towards advancing India's energy transition and contributing to BPCL's Net Zero goals.
The joint venture will focus on converting organic Biomass waste into Compressed Biogas, a renewable and eco-friendly energy source. By leveraging advanced waste to-energy technologies, this initiative aims to address critical environmental challenges, including -
1. Agricultural residue management: Providing a viable solution to stubble burning, which contributes to air pollution and soil degradation.
2. Greenhouse gas reduction: Mitigating climate change by reducing emissions.
3. Sustainable rural development: Creating a structured value chain for agri-residue procurement, generating an additional income source for farmers.
The Joint Venture plans to establish 8 – 10 plants across Bihar, Odisha, Punjab, Uttar Pradesh and West Bengal, over the next few years, which offer significant agri biomass potential for CBG production and aligned with BPCL's existing geographical allocation for city gas distribution. This reduces logistics costs and promotes efficient operations.
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Bharat Petroleum Corporation entered a joint venture agreement with Sembcorp to explore renewable energy and green hydrogen projects across India. The JV will also consider projects in green ammonia production and bunkering.
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This strategic partnership aims to support India's energy transition and development goals. The collaboration will focus on the production, operation, and sale of renewable energy and green hydrogen, along with its derivatives.
'The JV will also consider projects in green ammonia production and bunkering, emissions reduction for port operations, and other emerging green fuel technologies,' it said. 'The potential projects will leverage Sembcorp's renewables experience and BPCL's expertise in the petroleum sector and infrastructure.'
Sembcorp is pursuing the use of green hydrogen and ammonia as key decarbonization pathways. With 6 GW of renewable assets in India, Sembcorp is well-positioned to enable large-scale, low-cost green hydrogen production, it added.
Speaking about the partnership, G. Krishnakumar, chairman & managing director of BPCL, said, “BPCL's collaboration with Sembcorp marks a significant milestone in our journey towards a sustainable tomorrow. We will leverage our combined aspirations, expertise, and resources to jointly explore the development of innovation-led, best-in-class renewable energy and green hydrogen solutions for supporting India's ambitious climate goals and our own aspiration to achieve net-zero emissions by 2040 in Scope 1 and 2. We are committed to building a robust renewable energy portfolio, with a target of 10 GW, to meet the energy needs of tomorrow and become a Net Zero Energy Company by 2040.”
Vipul Tuli, President & CEO, Renewables, West, and CEO, Hydrogen Business, Sembcorp, said, 'This collaboration with BPCL seeks to support renewable energy and green hydrogen development in India. With Sembcorp’s renewables expertise and BPCL’s strength in the petroleum sector, we look forward to identifying opportunities to help decarbonise hard-to-abate sectors. Sembcorp is committed to delivering scalable, low-carbon solutions for a sustainable future.'
Bharat Petroleum Corporation (BPCL) is the second largest Indian oil marketing company (OMC), engaged in the refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted 'Maharatna' status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds a 52.98% stake in BPCL as of 31 December 2024.
The company reported a 36.85% jump in standalone net profit to Rs 4,649.20 crore in Q3 FY25, compared to Rs 3,397.27 crore posted in Q3 FY24. Net sales (excluding excise duty) declined 2.02% year on year (YoY) to Rs 1,13,135.8 crore in the December 2024 quarter.
Shares of BPCL fell 2.81% to Rs 281.20 on the BSE.
Defending the decision, Petroleum Minister Hardeep Singh Puri stated that the duty hikes were meant to compensate OMCs for selling LPG at a loss. Puri also took a political swipe, pointing to price disparities between 'BJP States' and 'non-BJP States', attributing the difference to higher state-level levies in non-BJP-ruled regions.
Reacting to the announcement, shares of key OMCs witnessed an uptick: Hindustan Petroleum Corporation jumped 2.55%, Bharat Petroleum Corporation gained 2.5%, and Indian Oil Corporation (IOC) rose 1.5%.
Shares of Bharat Petroleum Corporation (BPCL) soared 4.71% to Rs 286.60 on the BSE.
The orders involve last mile connectivity (LMC) and direct marketing services (DMA) activities, along with associated works for city gas distribution (CGD) in Bahraich.
The total order value stands at Rs 11,86,52,601, with a completion timeline of 14 months.
Desco Infratech is an infrastructure company specializing in engineering, planning, and construction, with a strong focus on city gas distribution, renewable energy, water management, and power sectors. The company is engaged in pipeline laying, installation, testing, erection, and commissioning for piped natural gas (PNG) used by both domestic and commercial consumers.
Bharat Petroleum Corporation (BPCL) is a public sector company that is engaged in the business of refining crude oil and marketing petroleum products.