Kanohar Electricals Shares See 8% Premium on IPO Listing

Shares of Kanohar Electricals Limited, an Indian transformer manufacturer and EPC service provider, listed at an 8% premium over its IPO price on Wednesday. The stock opened at ₹672.05 on BSE and ₹685.50 on NSE, compared to its issue price of ₹632. The IPO, which aimed to raise ₹1,055.74 crore, was subscribed 90.59 times overall, with the qualified institutional buyer (QIB) portion subscribed 215.37 times.

Kanohar Electricals plans to allocate ₹64.18 crore from the IPO proceeds for capital expenditure and ₹155 crore for incremental working capital requirements. The company reported a 45% year-on-year increase in total income, reaching ₹662.86 crore in FY26 from ₹457.30 crore in FY25. Profit after tax (PAT) nearly doubled, growing 99% from ₹65.12 crore in FY25 to ₹129.73 crore in FY26.

The company operates two manufacturing facilities in Meerut, Uttar Pradesh, with a combined transformer manufacturing capacity of 19,200 MVA as of March 31, 2026. Kanohar Electricals is one of four Indian manufacturers certified by RDSO to produce 100 MVA, 132 kV Scott transformers.

India's Battery Storage Capacity Reaches 9.3 GWh by Mid-2026

India added 8.2 gigawatt-hours (GWh) of battery storage capacity in the first half of 2026, according to a Mercom India Research report. This represents an 84-fold increase compared to the 98.4 megawatt-hours (MWh) added in the same period of the previous year. By June 2026, the cumulative installed battery storage capacity in India reached 9.3 GWh.

The growth is attributed to rising utility demand for grid balancing, peak management, and renewable energy integration. Standalone battery storage projects accounted for 83% of cumulative installations. Rajasthan leads in installed battery storage capacity with 36%, followed by Gujarat at 20% and Maharashtra at 5%. These three states collectively represent over 60% of the country's total installed capacity.

Battery storage procurement also saw a sharp increase in the first half of 2026, with 28 GW tendered. This marks an 86% year-over-year increase from the 15 GW tendered in the first half of 2025.

Nusano to Focus on HALEU Production in New Project

Nusano, a company based in Utah, was recently chosen by the National Reactor Innovation Center for a project under its Nuclear Energy Launch Pad program. The company has now disclosed that this project will focus on the production of high-assay low-enrichment uranium (HALEU).

This new emphasis on enrichment represents an expansion of Nusano's activities. Concurrently, the company is proceeding with the development of a radioisotope production facility, also located in Utah.