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Bank Holidays in September 2024: Plan Ahead for a Joyful Month!

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Bank Holidays in September 2024: Your Guide to a Joyful Month of Festivities and Planning

As September 2024 rolls in, it’s time to mark your calendars and plan your banking activities around the month’s holidays. With a total of 15 bank holidays throughout the month, including weekends and regional festivals, it’s essential to stay informed to make the most of your banking needs. Here’s a cheerful and informative guide to help you navigate the bank holidays this September!

September’s Bank Holidays: What to Expect

September is packed with a variety of bank holidays, from national celebrations to regional observances. Banks will be closed on weekends, as well as on specific dates throughout the month, giving you ample time to plan your visits accordingly.

Here’s a quick overview of the bank holidays in September 2024:

  • September 1 (Sunday): Weekly holiday – Banks closed nationwide.
  • September 4 (Wednesday): Tirubhav Tithi of Srimanta Sankardeva – Banks closed in Guwahati.
  • September 7 (Saturday): Ganesh Chaturthi – Celebrations in Ahmedabad, Belapur, Bengaluru, Bhubaneswar, Chennai, Hyderabad, Mumbai, Nagpur, and Panaji.
  • September 8 (Sunday): Weekly holiday – Banks closed across India.
  • September 14 (Saturday): Second Saturday – Banks closed nationwide.
  • September 15 (Sunday): Weekly holiday – Banks closed nationwide.
  • September 16 (Monday): Barawafaat – Observed in Ahmedabad, Bengaluru, Aizawl, Chennai, Dehradun, Hyderabad, Imphal, Jammu, Kanpur, Lucknow, Mumbai, Nagpur, New Delhi, Ranchi, Srinagar, and Thiruvananthapuram.
  • September 17 (Tuesday): Milad-un-Nabi – Banks closed in Gangtok and Raipur.
  • September 18 (Wednesday): Pang-Lhabsol – Banks closed in Gangtok.
  • September 20 (Friday): Eid-e-Milad-ul-Nabi – Celebrated in Jammu and Srinagar.
  • September 21 (Saturday): Sree Narayana Guru Samadhi Day – Banks closed in Kochi and Thiruvananthapuram.
  • September 22 (Sunday): Weekly holiday – Banks closed across India.
  • September 23 (Monday): Maharaja Hari Singh Birthday – Banks closed in Jammu and Srinagar.
  • September 28 (Saturday): Fourth Saturday – Banks closed nationwide.
  • September 29 (Sunday): Weekly holiday – Banks closed across India.

Keep Your Banking Smooth and Stress-Free!

Remember, while banks will be closed on these holidays, you can still manage your banking activities online. With digital banking facilities and ATMs available around the clock, you can handle transactions, check account balances, and more without any hassle.

The Reserve Bank of India (RBI) provides an official list of holidays each year, which includes both national and regional observances. This list helps you stay informed about when banks in different states will be closed. For the most accurate and up-to-date information, you can always visit the RBI website.

Plan Your Banking Around Holidays

With a little planning, you can make the most of your time around these bank holidays. Whether it’s scheduling important transactions or planning your visits to the bank, keeping track of these dates will ensure a smooth and stress-free banking experience.

For more updates on holidays, events, and banking tips, stay tuned to MarketNewsly!

Disclaimer: The information provided is for general informational purposes only and may be subject to change. Always check with your local bank or the Reserve Bank of India for the most accurate and current information.

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Premier Energies Limited IPO: Your 1st Ultimate Guide to a Promising Solar Investment

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Explore Premier Energies Limited IPO: market position, financials, growth potential, and key details.

Hello, savvy investors! Today, we’re diving into the buzz surrounding the Premier Energies Limited IPO, a key player in the solar energy sector. This company has caught the market’s eye with a stellar 2X subscription rate on its very first day! We’ve distilled the essential highlights from the company’s Red Herring Prospectus (RHP) to give you a clear and concise look at what makes this IPO a hot topic. So, let’s get into it!

About Premier Energies

Founded in 1995, Premier Energies specializes in manufacturing solar cells and modules. If you’re wondering, solar cells are the individual units that generate electricity when exposed to sunlight, while solar modules are collections of these cells working together to boost efficiency. While Premier Energies doesn’t manufacture solar panels themselves, their components are critical to the broader solar energy landscape.

Market Position and Expertise

Premier Energies Limited IPO stands tall as India’s second-largest producer of solar cells and ranks fourth in solar module manufacturing. With over 12 years of experience in Engineering, Procurement, and Construction (EPC), the company provides valuable support to organizations setting up large-scale solar installations. Through EPC services, they handle everything from site evaluation and material procurement to construction, making them a one-stop shop for solar projects.

As of June 30, 2024, Premier Energies boasts a high-profile clientele that includes industry giants like NTPC, Tata Power Solar Systems, and Panasonic Life Solutions. This strong customer base speaks volumes about the company’s credibility and expertise in the renewable energy sector.

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Industry Growth and Demand

The solar power industry, both globally and in India, is on a rapid growth path. The installed capacity is expected to skyrocket from approximately 6,460 gigawatts in 2015 to over 33,000 gigawatts by 2050. This growth is driven by a global push toward renewable energy, which is projected to account for 72% of power generation in the near future. The demand for solar power and related technologies is only set to increase, making companies like Premier Energies prime beneficiaries.

Order Book Insights

Premier Energies’ order book currently stands at an impressive ₹5,926 crore. The majority of these orders are for solar modules, followed by solar cells, with EPC projects comprising a smaller portion. Notably, 75% of their orders are from private companies, while 25% come from government entities, showcasing their diverse market reach.

Operational Metrics

Premier Energies’ operational performance is just as strong as its market positioning. The company boasts a capacity utilization rate of 81%, signaling efficient production. It has also significantly expanded its installed capacity for solar cells and modules, indicating robust growth. Revenue from operations has surged with a compound annual growth rate (CAGR) of 105%, highlighting strong demand and effective sales strategies.

Financial Performance

On the financial front, Premier Energies has delivered stellar results. EBITDA has grown from ₹53 crore to ₹505 crore, reflecting a CAGR of 206%. Profit margins have turned around impressively, moving from losses in previous years to a profit margin of 11.87% in the latest quarter. Among its listed peers, Premier Energies stands out as the only player in the black, further solidifying its competitive edge.

Risks to Consider

While the future looks promising, there are risks to keep in mind. A significant portion (46.9%) of Premier Energies’ raw materials are imported from China, meaning shifts in trade relations or import duties could impact costs. Additionally, pending litigations currently account for 5.92% of the company’s Profit After Tax (PAT), which is a factor investors should monitor closely.

Premier Energies Limited IPO Details

Premier Energies aims to use the funds raised from this IPO to enhance its manufacturing capabilities at its Hyderabad facility, particularly in solar cell and module production. The IPO consists of a fresh issue of ₹1,291 crore, which will be used for capacity expansion and general corporate purposes.

Key IPO Information:

  • Dates: August 27 – August 29
  • Price Band: ₹427 – ₹450

Final Thoughts

Premier Energies Limited is well-positioned in the booming renewable energy market, with solid operational metrics, a diversified order book, and an impressive financial performance. With strong market trends favoring solar energy, this IPO could be an exciting addition to your investment portfolio.

Stay tuned for more market insights, and happy investing!