Core Viewpoint - GE Vernova is well-positioned to benefit from the increasing global demand for electricity and renewable energy, driven by the technology sector's expansion of AI data centers and overall growth in the power industry [1][3]. Group 1: Electricity Demand and Data Centers - Global electricity demand is projected to rise by 4.3% in 2024, accelerating from a 2.5% increase in 2023 [1]. - Data centers accounted for approximately 1.5% of the world's total electricity consumption in 2024, with their electricity demand growing at a 12% annualized rate from 2020 to 2024 [2]. - GE Vernova reported a significant increase in orders for data centers, with over $2 billion in orders for 2025, more than tripling the previous year's total [6]. Group 2: Financial Performance - GE Vernova's revenue increased by 9% to $38.1 billion in 2025, with $19.8 billion coming from the power segment, driven by strong demand for natural gas power equipment [8]. - The company reported fourth-quarter earnings of $13.39 per share, exceeding analysts' expectations by over $10 per share, partly due to growing sales to data centers [5]. Group 3: Natural Gas and Renewable Energy Growth - Global natural gas demand rose by 2.7% in 2024, reaching an all-time high, with further growth expected at 1% in 2025 and 2% in 2026, particularly in emerging markets [9]. - GE Vernova's wind segment generated $9.1 billion in revenue in 2025, with a 9% increase in orders, as global renewable energy capacity is expected to more than double by 2030 [10]. Group 4: Future Outlook - The company has a total backlog of $150 billion in projects, indicating a strong future regardless of fluctuations in the AI sector [11]. - Deloitte research suggests that AI data centers' power demand in the U.S. could increase by over 3,000% by 2035, highlighting a significant growth opportunity for GE Vernova [7].

Market Performance - The BSE Sensex ended 78.56 points or 0.09% higher at 83,817.69, with a high of 83,947.53 and a low of 83,119.95, showing a fluctuation of 827.58 points [3][4] - The NSE Nifty increased by 48.45 points or 0.19% to settle at 25,776 [3][6] Sector Performance - Major gainers included Eternal, Trent, NTPC, Adani Ports, Power Grid, and Maruti, while Infosys, Tata Consultancy Services, HCL Tech, and Tech Mahindra were the biggest laggards, declining by as much as 7% [4][6] - The BSE IT index fell by 5.49% to close at 35,109.51, driven by selling pressure in IT stocks due to global technology share weakness [4][11] Investor Activity - Foreign institutional investors purchased equities worth ₹5,236.28 crore, while domestic institutional investors bought stocks worth ₹1,014.24 crore [7] Economic Context - The previous trading session saw the Sensex rise by 2,072.67 points or 2.54%, and the Nifty increase by 639.15 points or 2.55% [9] - A trade deal framework between India and the US was announced, reducing tariffs on Indian goods to 18% from 50%, effective August 27, 2025 [9][10] Sentiment and Concerns - The introduction of AI-driven automation tools by Anthropic has raised concerns about the impact on traditional software business models and industry profitability [5][11] - Overall market sentiment remained cautious due to rising US-Iran tensions and the volatility in domestic equities [10]

03 Feb 2026 11:18:42 ET │ 19 pages Vi e w p o i n t | China Diversified Utilities Higher Grid Capex Growth in 2026E; Lifting Solar & Wind Installations CITI'S TAKE PRC electricity demand growth in 2025 was +5.0% y/y, a deceleration of 1.8ppts from the previous year due to a warmer-than-usual winter in 1Q25. We expect electricity demand growth to accelerate to 6.5% y/y in 2026 based on a 1.3x multiple for annual electricity demand growth versus annual GDP growth, similar to those in 2020-24. Meanwhile, 2025 ...

Market Overview - The GIFT Nifty is trading with losses of around 0.3% at 25,779, indicating a negative open for the benchmark index [1] - The Nifty 50 closed up more than 2.5% at above 25,700, marking its best performance since May 2025 [2] - Sensex increased by 2.54% to end at 83,739.13, with midcap and small-cap indices gaining nearly 3% [2] US Market Recap - A tech-led selloff caused stocks to retreat from near-record highs, with the S&P 500 dropping 0.8% and the Nasdaq 100 falling 1.6% [3][4] - Concerns over software stocks were heightened by Anthropic's automation tool, impacting investor sentiment [4] - Oil prices rose due to geopolitical risks, while gold rebounded after a significant decline [3] Asian Market Update - Most Asian shares fell following the US tech-led selloff, with Japanese and Australian stocks opening lower [5] - Advanced Micro Devices Inc. shares declined after issuing a disappointing sales forecast [5] Commodity Check - Oil prices increased for a second consecutive session, with West Texas Intermediate nearing $64 per barrel after a 1.7% gain [6] - Gold stabilized after recovering some losses, trading near $4,950 an ounce, having jumped over 6% in the previous session [7] Key Events - The Reserve Bank of India's monetary policy committee meeting is set to start, with an interest rate decision to be announced on Friday [8] Earnings Reports - TCI Express reported a revenue increase of 5.9% to Rs 314.1 crore and a net profit rise of 14.8% to Rs 22.0 crore [11] - Mankind Pharma's revenue grew by 11.5% to Rs 3,567 crore, with a net profit increase of 7.6% to Rs 409 crore [11] - Aditya Birla Capital's total income rose by 13.1% to Rs 12,002 crore, with a profit increase of 10.5% to Rs 945 crore [12] Corporate Actions - NBCC (India) received work orders worth Rs 271.32 crore [26] - Tata Communications' CFO resigned, and Satin Creditcare Network appointed a new CFO [26] - JK Lakshmi Cement announced an increase in expansion project costs from Rs 2,500 crore to Rs 3,000 crore [26] Stocks in News - Aditya Birla Capital approved raising funds via NCDs within an overall borrowing limit of Rs 1,65,000 crore [26] - Varroc Engineering secured a strategic contract with a global EV OEM for AC-bi-directional wall chargers [26] - Shipping Corporation of India signed an MOU to acquire and operate vessels and containers [26]

Group 1 - The US has agreed to reduce tariffs on Indian goods from 25 percent to 18 percent, enhancing India's competitive position among emerging markets [7][10] - The Indian stock market saw significant gains, with the BSE Sensex rising by 2,072.67 points or 2.54 percent to close at 83,739.13, and the NSE Nifty increasing by 639.15 points or 2.55 percent to settle at 25,727.55 [4][9] - Key sectors benefiting from the trade deal include textiles, leather, gems and jewellery, seafood exports, and specialty chemicals, which are expected to see improved export prospects [10][9] Group 2 - Adani Ports was a standout performer, surging 9.12 percent, along with other notable gainers such as Bajaj Finance, InterGlobe Aviation, and Reliance Industries [5][8] - The trade deal is anticipated to boost foreign institutional investor (FII) inflows into Indian equities, supported by a strengthening rupee [9][10] - The overall positive sentiment in the market was reflected in the performance of other Asian markets, with South Korea's Kospi jumping nearly 7 percent [10]

Core Viewpoint - BlackRock Inc.'s Global Infrastructure Partners and EQT AB are in discussions to acquire AES Corp., a power company that supplies renewable energy to major tech firms like Microsoft [1][3]. Group 1: Acquisition Details - The two investment firms may finalize an agreement to purchase AES in the coming weeks, although no final decision has been made and discussions could extend or collapse [1]. - AES has been considering a sale after receiving interest from infrastructure investors, including GIP [3]. Group 2: Market Reaction - AES shares increased by as much as 7.7% in premarket trading, closing at $14.73, which gives the company a market capitalization of approximately $10.5 billion [2]. - Including debt, AES's total valuation is around $43 billion [2]. Group 3: Industry Context - Power providers are becoming attractive acquisition targets due to rising electricity demand from data centers supporting artificial intelligence applications [3]. - Recent acquisitions in the sector include Blackstone Inc.'s purchase of TXNM Energy Inc. and Constellation Energy Corp.'s acquisition of Calpine Corp. [3]. Group 4: Company Profile - AES, headquartered in Arlington, Virginia, operates a diverse portfolio of renewable energy generation assets, including wind and solar, as well as natural gas and coal facilities, and utilities in Indiana and Ohio [4].

US stock futures rose on Tuesday as earnings rolled in, with Palantir's (PLTR) outlook fueling faith in AI demand and precious metals jumping to continue their wild ride. Contracts on the tech-heavy Nasdaq 100 (NQ=F) moved up 0.6%, while those on the S&P 500 (ES=F) edged up 0.3%. Dow Jones Industrial Average futures (YM=F) crept into the green after the blue-chip benchmark led gains on Monday with a 500-point advance. The S&P 500 (^GSPC) is eyeing a fresh record after Palantir's (PLTR) surprisingly stro ...

February 1, 2026 08:28 PM GMT We see this as a critical milestone in China's power market reform. In particular, the inclusion of independent ESS arrives ahead of market expectations and potentially incentivizes the upcoming demand upon promising economic returns. We expect provincial capacity tariff policies to accelerate the rollouts post this national notice, and we have already seen provinces like Hubei, Gansu and Inner Mongolia introduce the relevant measures ( Exhibit 1 ). | M Downloaded by Neil.Wang@ ...

Core Viewpoint - Archrock (AROC) is nearing a 52-week high with its share price approaching $30 per share, indicating a potential fair valuation for the company [1]. Company Summary - The rapid increase in Archrock's share price suggests that the company may be reaching a fair valuation based on current market conditions [1]. Industry Context - The article highlights the importance of evaluating equities in the power and energy sectors, emphasizing the potential for long-term investment opportunities in income-producing equities and rental real estate properties [1].

Core Viewpoint - Vedanta Ltd is set to undergo a significant demerger into five independent companies, with the aim of listing them on stock exchanges by May 2024, following the approval from the National Company Law Tribunal [2][3]. Group 1: Demerger Details - The demerger will create five distinct entities: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron and Steel, and Vedanta Ltd, which will manage the zinc and silver businesses [3][4]. - The demerger is scheduled to take effect on April 1, 2024, with shares expected to be listed by May or before the end of June [2][3]. Group 2: Debt Allocation - Vedanta's total net debt is approximately ₹60,624 crore (around $6.7 billion), which will be distributed among the new companies based on their asset values and cash generation capabilities [4][5]. - Vedanta Aluminium is expected to carry the largest portion of the debt, while Vedanta Oil & Gas and Vedanta Iron and Steel will have minimal to no debt assigned to them [6][7]. Group 3: Financial Performance - Vedanta reported a record quarterly profit of ₹7,807 crore for Q3, marking a 60% increase year-on-year, with revenues reaching ₹45,899 crore, a nearly 20% rise from the previous year [8][9]. - The company's EBITDA also reached a record high of ₹15,171 crore, reflecting a 33% increase compared to the previous year [8][9]. - The aluminium segment achieved its highest EBITDA margin of $1,268 per ton, driven by record production levels [10].