Daily Archives: September 11, 2018

GAIL to expand gas pipeline network capacity by 50% in 3 yrs

GAIL India Tuesday said it will expand its pipeline network capacity by about 50 per cent by constructing 5,500-kilometers of new lines in the next three years. The state-owned company is also looking at setting up 400 CNG stations and giving out a record 10 lakh piped natural gas (PNG) connections to household kitchens, its

PFC net profit surges 22% to Rs 1,373 cr in Apr-Jun qtr

Power Finance Corporation Tuesday posted over 22 per cent jump in its standalone net profit to Rs 1,373.26 crore in the quarter ended June 30, on the back of higher revenues and lower impairment allowance on financial instruments. The company’s net profit in the quarter ended June 30, 2017 stood at Rs 1,122.43 crore, the

Power companies hail Supreme Court stay on RBI circular

Power companies have welcomed the Supreme Court’s stay on RBI circularand said the verdict will prevent 13Gw of stressed power plants from insolvency. “SC order has provided a great relief to Power sector stressed assets, this would provide time for Bankers to finalise resolution plan for about 13 GW of projects which are presently in