Energy

CRISIL has assigned an AA- credit rating with a stable outlook to MALCO Energy Limited (MEL), a key subsidiary of Vedanta, reflecting the company’s solid operating fundamentals and financial resilience. The rating underscores MEL’s strong cash-flow visibility, prudent capital structure and strategic importance within the Vedanta group. Analysts said the assessment highlights growing confidence in MEL’s ability to meet its financial obligations amid a volatile commodities environment.

India has firmly defended its policy support for the automobile and renewable energy sectors at the World Trade Organization, arguing that such measures are essential for economic development, energy security and climate commitments. Responding to concerns raised by some member nations, Indian officials said the incentives are compliant with global trade rules and are designed to strengthen domestic manufacturing rather than distort international markets.

The initial public offering of renewable energy company Clean Max drew measured investor interest by the end of its second day, with overall subscription reaching 45%. The response reflects cautious sentiment in the primary market, where investors are balancing long-term growth prospects against valuation discipline and broader market volatility. While institutional participation remained selective, interest from retail and non-institutional segments provided incremental support.

Reliance Industries Limited is preparing a sweeping investment program of up to $110 billion to build artificial intelligence capabilities at scale, underscoring its ambition to become a global technology force. The plan, spanning data centers, advanced computing infrastructure, platforms, and applications, reflects a conviction that AI will reshape consumption, enterprise productivity, and digital services. Anchored in India but globally oriented, the strategy aims to fuse scale with affordability.

India’s fast-expanding renewable energy sector is preparing for another marquee listing as CleanMax opens its initial public offering on Feb. 23. The company has already secured Rs 921 crore from anchor investors, underscoring strong institutional appetite for stable, long-term clean energy platforms. The IPO is expected to support CleanMax’s next phase of growth, including capacity expansion and balance-sheet strengthening.

The Adani Group has outlined plans to invest USD 100 billion in developing energy and computing infrastructure designed to support the rapid expansion of artificial intelligence. The initiative reflects the conglomerate’s ambition to position itself at the intersection of power generation, data infrastructure and next-generation digital demand. By aligning large-scale renewable energy capacity with high-performance computing and data centers, the group aims to create an integrated ecosystem capable of serving AI-driven industries.

CleanMax is set to enter the capital markets on Feb. 23 with its initial public offering, drawing investor attention to India’s rapidly expanding renewable energy and sustainability sector. The IPO is expected to provide the company with growth capital as demand for clean power solutions accelerates across commercial and industrial segments. Market participants see the offering as timely, coming amid heightened policy focus on decarbonization and energy transition.

Southern Petrochemical Industries Corporation, widely known as SPIC, reported a profit after tax of Rs. 54.07 crore for the third quarter, reflecting improved operational performance and tighter cost management. The results mark a notable turnaround compared with periods of volatility seen across the fertilizer and chemicals sector. Stable demand, better capacity utilization, and disciplined financial controls supported earnings during the quarter.

Inox Green Energy Services reported a sharp rise in third-quarter net profit to Rs 25 crore, reflecting stronger operating performance, improved receivables management and steady growth in its wind operations and maintenance portfolio. The earnings expansion underscores a recovery phase for renewable energy service providers as capacity utilization improves and payment cycles stabilize. With India accelerating its renewable energy targets, companies positioned in asset servicing and lifecycle management are benefiting from recurring revenue streams.

Indraprastha Gas Limited (IGL) reported a 25% year-on-year increase in net profit for Q3, driven by robust sales growth and improved operational margins. Revenue growth was supported by higher distribution volumes in compressed natural gas (CNG) and piped natural gas (PNG) segments, coupled with effective cost management. Analysts note that favorable pricing trends, efficient supply chain operations, and disciplined financial management contributed to the strong earnings performance.