On Multi Commodity Exchange, crude oil for March delivery traded 0.59% higher at Rs 4,735 per barrel.
Having NTPC and SECI (Solar Energy Corporation of India) as intermediaries has given a lot of comfort to investors; it is good for Actis but the financial health of the discoms needs to improve for the overall reliability of the sector, says Aggarwal.
“Actis will look to sell the Sprng business in 2022. By then, we should have 2,000-2,400 mw of operating capacity. I can’t talk about the valuation, but if you have a good quality asset, you get good value for it,” Sanjiv Aggarwal, partner - energy at Actis PE, said. “We are focusing on building high-quality assets.”
Brent crude futures were up $3.06 or 4.8% at $67.13 a barrel by 11:30 a.m. ET (1630 GMT). U.S. West Texas Intermediate (WTI) crude rose about $3 or 4.7% at $64.17, having earlier scaled its highest since January 2020, at $64.51.
It is considered the world's premier annual energy platform, the PMO noted, adding that the event is being held virtually between March 1-5.
On Multi Commodity Exchange, crude oil for the March delivery eased by Rs 26 to Rs 4,499 per barrel.
At present, every state has its own way of taxing fuels, while the Centre also collects its own duties and cess. Petrol prices have touched Rs 100 per litre in some pockets of the country and concerns are being expressed about the high taxation which is making the fuels dearer.
Energy stocks have been rallying since the beginning of the year. The energy sector funds have also been going up. The sectoral mutual funds investing in energy stocks have offered 16.57% returns since Jan.