February heat generates demand for IEX

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⭐ February heat generates demand for IEX

Indian Energy Exchange, which operates the power exchange platform, reported a 5% MoM rise in average daily volume in February 2023. Meanwhile, the overall volume on the platform declined by 7% YoY to 8200 MU. Company said power demand increased in February due to the warm temperature and sustained momentum in economic activities.

⭐Bajaj Electricals bags new contract 

Bajaj Electricals has bagged an EPC contract worth ₹565 crore from South Bihar Power Distribution Company Ltd (SBPDCL). The project will be executed in 30 months, which involves installing electric supply infrastructure in several districts of Bihar.

⭐ Goods and services exports could scale new highs   

As per Commerce Ministry, India’s export of goods and services is expected to exceed $750 billion this fiscal year despite the global slowdown. Last year, goods and services exports touched an all-time high of $676 billion. 

Global markets (at 9:15 AM today)

Fact of the day

India to get $1 billion from the World Bank to support healthcare infrastructure.

Source: Live Mint