Coal India Ltd has relaxed the norms for “mine-specific coal supply” policy, which would ease availability of the dry fuel to consumers having less than one million tonne of requirement per annum. The move would benefit a large number of the mining major’s linked small consumers, the company said. “The policy norms have been relaxed […]
Day: November 5, 2018
As US oil sanctions against Iran start, Washington grants waivers to major buyers
The United States re-introduced sanctions against Iranian oil exports on Monday, although it also gave some of its closest allies exemptions that will allow Tehran’s biggest customers, mostly in Asia, to still buy crude for now. Washington restored measures lifted under a 2015 nuclear deal negotiated with Tehran by the administration of President Barack Obama, […]
Average spot power price up 45% at Rs 5.94 per unit in October
The average power spot prices jumped over 45% to Rs 5.94 per unit in the month of October on the energy exchange from Rs 4.08 per unit in the same month a year ago. According to a statement by Indian Energy Exchange (IEX), coal shortage, higher demand, lower wind and hydropower generation were the key […]
GAIL Q2 profit jumps 50% on revenue from natural gas marketing business
State-run gas utility GAIL (India) Ltd posted a 50 per cent jump in second-quarter profit on Monday, boosted by higher revenue from its natural gas marketing business. Profit came in at 19.63 billion rupees ($268.86 million) for the three months ended Sept. 30, compared with 13.10 billion rupees a year earlier, the company said https://bit.ly/2zoe4Li. […]
Tata Group in talks to buy majority stake in Jet Airways: CNBC-TV18
India’s Tata Group is in talks to buy a stake in beleaguered carrier Jet Airways and its loyalty program, television news channel CNBC-TV18 reported on Monday, citing sources. Tata Group aims to buy the 51 percent stake owned by Jet Airways founder, Naresh Goyal, and Etihad Airways’ 24 percent stake, the station reported. Tata aims […]
A manoeuvre few saw coming: Air India finds a way to cut its debt in half
The broad outline of a new revival plan for Air India is ready, the second such rescue bid in the state-run carrier’s recent history which includes a failed divestment effort earlier this year. The new strategy will involve the government transferring the airline’s working capital debt of about Rs 29,000 crore to a special purpose […]