AMPSolar stake buy may boost Orient Cement

Orient Cement Ltd on Thursday entered into a share purchase, subscription and shareholder's agreement with AMPSolar Technology Private Limited and AMPSolar Systems Private Limited for the acquisition of 26 per cent stake in the share capital of AMPSolar Systems Private Limited for putting up the solar power plant with capacity of 13.5 MW, under Captive Scheme.

AMPSolar Systems Private Limited is a step-down subsidiary of AMP Energy India Private Limited. AMP is formed to set up a solar power project in Maharashtra, in terms of the regulatory requirement for captive power consumption under electricity laws. AMP Energy is engaged in the business of developing, owning and operating renewable energy infrastructure for supplying electrical power generated using solar energy and other sources of renewable energy to commercial, industrial and utility customers.

The acquisition is to meet the green energy needs and optimise energy cost and to comply with the regulatory requirement for captive power consumption under electricity laws.

Rate sensitive sectors eyeing RBI meet outcome

Analysts expect the upcoming RBI MPC policy will likely be a damp squib on conventional policy actions with inflation sticky at over 7 per cent in the near term.

While growth concerns and sub-optimal fiscal response may keep MPC’s stance accommodative, the inflation trajectory hints that the bar for further conventional rate cuts becomes high for the rest of FY21.

They expect the RBI to raise its inflation and growth forecasts in the upcoming policy.

However, rate-sensitive sectors such as banking, NBFC, realty, automobiles and housing finance companies will keenly watch the outcome.

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