‘As we look back on our 50 years in business, we are proud to have supported many thousands of charitable, community and environmental causes’

North East property and mining company Banks Group has returned to profit after its turnover rose sharply. The County Durham group has published accounts which show turnover of £43.4m, up from £27.1m seen a year earlier. The accounts, covering the year to the end of September 2025, report operating profit of £8.4m, having been a loss of £5.1m in the previous year.

Within the group, Banks’ mining division reported a turnover of £16m, there was £15.5m from Banks Homes and £10.8m from Banks Property.

Founder Harry Banks used the report to highlight how “the current planning system is unduly slow and unpredictable with significant delays across the UK leading to shortages in land available for much-needed new housing.” He added that Banks was investing in its operations to provide future growth.

The family-owned firm is celebrating its 50th anniversary this year and has retained its headquarters in County Durham since being founded in Tow Law in 1976.

Mr Banks said: “We’re immensely proud of our County Durham and North East heritage, which has been the foundation on which our growth, diversification and success has been based over the last 50 years. Our performance in 2025 was ahead of the previous year as we focussed on the future growth prospects for the business.

“We have continued to invest in our new house building arm, Banks Homes, which is well placed to deliver future growth and earnings, and believe we will deliver good growth and earnings in the coming years from the investments we are making across all our operations.”

Banks said it was working on housebuilding developments in West Rainton, Yarm, Wynyard and Hambleton in North Yorkshire. It was aiming to deliver an annual target of around 200 new homes a year by the end of 2027 and then 400 new homes a year by 2031.

The Banks Group has also continued to deliver grant funding to dozens of community groups and environmental projects across its operating areas during 2025.

Mr Banks added: “As we look back on our 50 years in business, we are proud to have supported many thousands of charitable, community and environmental causes and to have helped to deliver long-lasting positive changes that make a real difference to people’s lives.”

The group’ headcount fell slightly during the year to an average of 168, but its wage bill rose to £11.9m, having been £10.7m in the previous year.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal .

Sugar stocks rallied sharply on Thursday after the Finance Ministry notified a cut in excise duty on ethanol-blended petrol, boosting optimism surrounding India’s ethanol blending programme.

Shares of Dwarikesh Sugar, Dhampur Sugar, Mawana Sugars, Balrampur Chini, and Dalmia Bharat Sugar rose 3–4%, as investors cheered the policy move that is expected to support ethanol demand and improve earnings visibility for sugar manufacturers.

According to a Times of India report, India has waived excise duty on multiple ethanol-blended petrol variants, including E22, E25, E27 and E30, as part of its broader strategy to accelerate the adoption of cleaner fuels.

The exempted blends include E22 (78% petrol and 22% ethanol), E25 (75% petrol and 25% ethanol), E27 (73% petrol and 27% ethanol), and E30 (70% petrol and 30% ethanol), reflecting the government’s push towards higher ethanol blending in transport fuels.

The move aligns with the government’s ambitious ethanol roadmap, which includes launching 50–100 ethanol fuel stations across Delhi-NCR, Mumbai, Pune and Nagpur before expanding the network to 500 outlets by the end of 2026.

The announcement comes at a time when global energy markets remain under pressure due to the ongoing Middle East conflict. Crude oil prices have climbed from around $70 per barrel to above $100, leading to a cumulative increase of over Rs 7.5 per litre in domestic petrol and diesel prices.
The Finance Ministry had earlier indicated that state-run oil marketing companies are preparing to offer E85 fuel at a discount of Rs 20 per litre compared with E20 petrol. The discount aims to offset ethanol’s lower energy content and encourage consumer adoption.While E85 contains 85% ethanol and 15% petrol, E20 petrol—already compatible with most vehicles on Indian roads—will continue to be available nationwide.

Also read: Exclusive | Why BSE wants options traders to think beyond the next expiry

For sugar companies, the excise relief is being viewed as a significant positive. A faster shift towards ethanol blending could create a sustained demand avenue beyond traditional sugar sales, giving the sector another reason to celebrate.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Fiera Capital offers thoughtful investment solutions for high net worth individuals and institutions across a spectrum of traditional, non-traditional, and bespoke investment strategies. Our mission is to provide our clients with the highest quality of customized service and performance through a culture of integrity, teamwork, excellence, and innovation. We believe our structure promotes excellence within our specialized investment teams by combining the flexible and efficient environment of a multi-style investment manager with the scale of resources offered by a leading investment firm. Investment teams operate independently while benefiting from advantages in risk management, research, and shared expertise.

While much of India grapples with soaring temperatures, shareholders of power companies are benefiting from rising electricity demand. International brokerage Macquarie says India’s power sector is undergoing a broad-based regulatory and operational reset across generation, transmission and distribution.

Macquarie initiated coverage on JSW Energy with an ‘Outperform’ rating and a target price of Rs 720 per share, implying an upside potential of more than 28% from the stock’s previous close.

The brokerage also initiated coverage on Adani Power and Adani Energy Solutions with ‘Neutral’ ratings. It assigned a target price of Rs 230 per share to Adani Power, implying an upside of about 4%, and Rs 1,450 per share to Adani Energy Solutions, implying a downside of around 6%.

NTPC emerged as Macquarie’s top pick in the sector, followed by JSW Energy, Power Grid, Adani Green, Adani Power and Adani Energy Solutions. The brokerage raised its target price on NTPC to Rs 480 per share, indicating an upside potential of 36.5% from the previous closing price.

Macquarie also sees strong upside in Power Grid, raising its target price to Rs 400 per share, implying upside potential of about 39%. It also increased its target price for Adani Green to Rs 1,700 per share, indicating an upside of nearly 15%.

India’s power sector is undergoing dual-track evolutions

According to Macquarie, India’s power sector is evolving along two parallel tracks — coal continues to anchor baseload stability, while renewables drive incremental capacity growth.

This transition is expected to support an expansion in installed capacity from 538 GW currently to 900 GW by FY32. However, achieving this scale will require rapid deployment of 74 GW of energy storage to manage intermittency and meet peak evening demand.
“Peak power demand touched a record 271 GW in May 2026, leaving minimal supply headroom and highlighting grid stress despite adequate base capacity,” Macquarie noted.The Central Electricity Authority (CEA) expects power demand to grow at a 6% CAGR through 2030, supported by strong industrial activity, which accounts for roughly half of demand, structurally rising cooling requirements contributing more than 20% of incremental growth, and emerging high-load segments such as data centres and electrified transport.

Macquarie believes this will intensify pressure across both generation and transmission infrastructure.

The brokerage expects India to enter a transmission-led capex cycle, with an estimated US$51 billion investment requirement through FY36 to bridge the geographic mismatch between renewable-rich states and major consumption centres.

It also highlighted a structural execution gap: generation assets can typically be built in 12–18 months, while transmission infrastructure often takes 36–48 months, necessitating proactive corridor development.

Grid curtailment remains a key risk. Macquarie pointed to the loss of 2,300 GWh in late 2025, when midday solar generation exceeded the grid’s absorption capacity.

Indian discoms on the path to recovery

Macquarie also noted that India’s distribution companies (discoms) are showing signs of recovery, supported by RDSS-led investments and smart metering initiatives.

Improved billing efficiency, lower leakages and a reduction in overdue payments under the Late Payment Surcharge (LPS) mechanism indicate materially stronger financial health than in previous years, it said.

The brokerage added that regulatory tailwinds remain supportive.

“The Draft National Electricity Policy 2026 signals a fundamental shift toward market-based systems, repositioning coal as a flexible balancing resource rather than a rigid baseload source. Legislative reforms such as the Electricity (Amendment) Bill 2026 and the Digital India Energy Stack aim to improve discom finances and enable peer-to-peer electricity trading,” Macquarie said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)