Reliance Bags Solar Deal
- 29th May 2025
Aaj Ka Bazaar
Indian benchmark indices ended in negative territory due to a lack of support from foreign investors. The Nifty 50 fell 73.75 points to close at 24,752.45, while the Sensex declined 239.31 points to settle at 81,312.32. On the sectoral front, most indices ended lower, with significant losses in Nifty FMCG as FMCG giant ITC fell 1.17% following a large block deal by British American Tobacco plc (BAT), which sold a 2.5% stake in the company, thereby relinquishing its veto power in the diversified Indian conglomerate. On the stock-specific front, defense stock Apollo Micro Systems surged 15% after the company announced that it had secured and exported an order worth Rs. 113.81 crores. The deal was signed for the development of an avionic system intended for use in civil and military aircraft applications.
Markets Around Us
BSE Sensex – 81,591.03 (0.34%)
Nifty 50 – 24,825.10 (0.29%)
Bank Nifty – 55,571.40 (0.28%)
Dow Jones – 42,680.56 (1.35%)
Nasdaq – 19,100.94 (-0.51%)
FTSE – 8,726.01 (-0.60%)
Nikkei 225 – 38,341.55 (1.64%)
Hang Seng – 23,388.90 (0.58%)
Sector: Power
Reliance Wins Solar- Battery Project from SJVN
Reliance NU Energies, a part of Reliance Power, has received a Letter of Award from SJVN Ltd for developing a 350 MW solar power project along with a 175 MW/700 MWh battery energy storage system (BESS). This project will be connected to the inter-state transmission system, helping supply clean energy across different regions. Once completed, it will add 600 MW of solar power and 700 MWh of storage capacity to Reliance Power’s clean energy portfolio. This strengthens the company’s position in the renewable energy sector. With this project, Reliance’s total clean energy pipeline now stands at 2.4 GW of solar capacity and over 2.5 GWh of battery storage. Reliance had secured this project by winning a competitive auction held by SJVN, and it will sell the power generated at ₹3.33 per unit for 25 years. This move highlights Reliance’s growing focus on sustainable and future-ready energy solutions.
Why it Matters:
This news signals Reliance’s strong push into the clean energy space, aligning with India’s renewable energy goals. The addition of battery storage makes the project future-ready and reliable for round-the-clock power. It also strengthens Reliance Power’s position in the competitive green energy market.
NIFTY 50 GAINERS
INFY – 1602.70 (1.97%)
JSWSTEEL– 1017.60 (1.66%)
WIPRO – 250.57 (1.27)
NIFTY 50 LOSERS
TATACONSUM – 1109.00 (-0.38%)
ULTRACEMCO – 11210.00 (-0.25%)
HDFCLIFE – 787.90 (-0.20)
Sector : Pharmaceuticals
Zydus Lifesciences has received fast track designation from the US FDA for its experimental drug Usnoflast, which is being developed to treat amyotrophic lateral sclerosis (ALS), a severe neurodegenerative disease. Usnoflast is an oral NLRP3 inhibitor and has shown potential in addressing ALS, a condition with very limited treatment options. Fast track status means the drug could get faster regulatory review and potential early approval, helping it reach patients sooner if it meets required criteria. The drug had already been granted Orphan Drug Designation (ODD), which comes with benefits like tax credits on clinical trials, exemption from certain FDA fees, and up to seven years of market exclusivity if approved. This is an important step for Zydus, highlighting its growing focus on innovative therapies for rare and serious diseases.
Why it Matters:
This update boosts Zydus’s credibility in developing breakthrough treatments for rare diseases. Fast track and orphan drug designations can accelerate approval and offer significant commercial advantages. It also reflects investor confidence in the company’s R&D pipeline.
Around the World
Asian markets rose on Thursday, supported by strong gains in U.S. stock futures after a U.S. court blocked former President Trump’s proposed tariffs, saying he overstepped his authority. The ruling reduced fears of aggressive trade measures, boosting global investor sentiment. Technology stocks led the rally, thanks to better-than-expected earnings from Nvidia, which lifted chipmakers across Asia. South Korea’s KOSPI surged over 1.7%, helped by gains in Samsung and SK Hynix. A surprise 25 basis point rate cut and a dovish outlook from the Bank of Korea further supported South Korean stocks. Japan’s Nikkei 225 and Taiwan’s tech firms also posted strong gains. Chinese markets saw moderate gains, held back by concerns over deflation and slow economic growth. Overall, optimism around global tech demand and reduced trade war fears drove market momentum, with India’s Gift Nifty futures up 0.4%, signaling a positive start for domestic indices after recent losses.
Option Traders Corner
Max Pain
Nifty 50 – 24800
Bank Nifty – 55300
Nifty 50 – 24784 (Pivot)
Support – 24,704, 24,657, 24,577
Resistance – 24,832, 24,911, 24,959
Bank Nifty – 55391 (Pivot)
Support – 55,261, 55,105, 54,974
Resistance – 55,547, 55,677, 55,833
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