A rise in crude oil prices, especially in an election year, has seen oil marketing companies – Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) – underperform the markets thus far in calendar year 2018 (CY18). On a calendar year basis, these stocks have slipped 25 per cent, 24 per cent and 15 […]
Day: May 22, 2018
Petrol price highest ever in Chennai; up 30 paise across metros
After reaching unprecedented highs in Delhi and Mumbai, petrol prices touched a record high in Chennai, at Rs 79.79 per litre on Tuesday. With this, the fuel price breached its previous record of Rs 79.55 in the city, hit in September 2013. Across the four metropolitan cities, prices rose around 30 paise on Tuesday. In […]
Coal-starved captive producers push spot power price to Rs 11.41/unit
Spot power price touched 5-year high of Rs 11.41 per unit at IEX today, which experts attributed to aggressive bidding by captive units following government’s decision to ramp up coal supplies to power plants. The government decided last week to augment coal supplies to centre/ state power plants and independent power producers (IPPs) from May […]
India poised to join China as global leaders in renewables: Report
India is poised to join China as the two global leaders in the renewable energy technology-led transformation, a US-based research institute said on Tuesday. India doubled solar installs to 10 GW in 2017-18 and is rapidly up-scaling capacity to strive towards the ambitious and transformational 100 GW of solar by 2022, Director of Energy Finance […]
ONGC, Oil India face risk of subsidy sharing: Moody’s
As oil prices rise, Moody’s Investors Service said state-owned oil producers ONGC and Oil India Ltd face increasing risk of the government once again requiring them to share the fuel subsidy burden. Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) had for more than 13 years paid as much as 40 per […]
UDAN reaches Arunachal Pradesh; first commercial flight flagged off
The long-cherished dream of the people of Arunachal Pradesh to have air connectivity was fulfilled on Monday with flagging off of the first fixed-wing commercial aircraft from Pasighat to Guwahati, officials said. “Today is a historic day and I congratulate the people of Arunachal in general and people of Pasighat in particular for this new […]
No cancellation fee on tickets cancelled within 24 hours of booking
In a big respite from cancellation charges for air passengers, the aviation has proposed lock-in period of 24 hours from cancellation charges. However, a ticket booked 96 hours (4 days) before the flight will not be eligible for cancellation fee waiver. “No cancellation charges within 24 hours a ticket is booked provided the ticket is […]
Govt proposes steep hike in compensation for flight delays to passengers
The civil aviation ministry has proposed an increase in compensation or cancellation fees. It also intends to provide monetary benefits to passengers for missed flight connections- a move vehemently opposed by airlines. Minister of state for Civil Aviation Jayant Sinha said that the Draft Passenger Charter defining rights for air passengers is being opened for […]
Air India may not be sold, if the price is not right: Official
The government may not sell Air India, if it does not get the right price for the airline, said a senior aviation ministry official. “The government retains the right to sell or not to sell Air India, if the bid price is found to be inadequate,” aviation secretary R N Choubey told reporters. The government […]