Markets

Market regulator, the Securities and Exchange Board of India (SEBI), has dismissed US-based short seller Hindenburg Research’s allegations of stock manipulation against the Adani Group companies and the Group’s Chairman, Gautam Adani.

The draft order for the implementation of the Approved List of Models and Manufacturers (ALMM) for wafers and ingots clearly indicates the government’s commitment to advancing domestic solar PV upstream integration and bridging the capacity gap between modules, cells, and wafers. Issuing this order nearly three years before its effective date and one year before the implementation of ALMM List-II will allow solar manufacturers to plan for wafer capacity alongside their upcoming cell capacities.

The Central Electricity Regulatory Commission (CERC) is set to release final guidelines for virtual power purchase agreements (VPPAs), potentially unlocking financing opportunities for over 40 GW of uncontracted renewable energy projects across the country.

Saatvik Green Energy Ltd has announced the launch of its initial public offering (IPO), aiming to raise INR 900 crore. The offer comprises a fresh issue of equity shares aggregating up to INR 700 crore and an offer for sale (OFS) aggregating up to INR 200 crore by the promoters.

Hydrogen is moving quickly from promise to reality, and pipelines will be the foundation of this transition. The world is preparing to invest billions in hydrogen-ready transport networks, and the demand for advanced steel pipes will surge. With its strong track record, competitive costs, and supportive policies, India is well-positioned to lead.

Global hydrogen investment has topped $110 billion, up $35 billion from last year, with total committed capacity exceeding 6 million tons (metric tons) per year (mtpa), says the Hydrogen Council.

The India Energy Storage Alliance (IESA) has welcomed the streamlining of the GST rate for all advanced batteries under heading 8507 to a uniform 18%, replacing the earlier regime where lithium-ion batteries were taxed at 18%, while other chemistries attracted a 28% GST.

Amid rising demand from the solar energy sector, the Aluminium Extrusion Manufacturers Association of India (ALEMAI) has urged the government to take urgent policy measures to reduce dependence on imported aluminium extrusions and support domestic manufacturers.

Reliance Industries Limited (RIL) is set to begin production at its upcoming battery gigafactory in 2026, with an initial annual capacity of 40 GWh. The facility will later be modularly scaled up to 100 GWh per annum, announced Anant Ambani, executive director of RIL, during the company’s annual general meeting recently.

The lowest green ammonia price discovered so far in the SIGHT Mode 2A auctions is just 10.1% higher than the current grey ammonia prices in India (US$515 per MT). Notably, the low cost of Rs 49.75 per kg in the Mode 2A auctions is almost half of a similar green ammonia auction conducted by H2Global in 2024, suggesting an imminent price parity between grey and green ammonia.