Maruti hikes prices

Maruti Suzuki India has increased the prices of its entire range by 0.9 per cent to 1.9 per cent with immediate effect to partially offset input costs. The weighted average price rise, with effect from April 18 in New Delhi (ex showroom) across models is 1.3 per cent, it added. CareEdge in a research note […]

Freeze on CNG allocation

The oil ministry has stopped making fresh allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels, sources said. Despite a decision of the Union […]

Banks stop offering credit for oil imports to Nayara Energy

HDFC Bank and some foreign banks have stopped offering trade credit for oil imports to Nayara Energy, a Russian-backed refiner, and some suppliers are seeking payment upfront to avoid potential problems resulting from western sanctions against Moscow, four banking and industry sources said. Nayara has not been sanctioned as part of the international response to […]

Russian oil pay plan soon

India on Thursday said it is working on a payment mechanism to settle trade with Russia even as Washington tries to yank New Delhi out of Moscow’s reach with support to diversify energy imports. The Centre is focused on stabilising its economic ties with Russia and is working to devise a payment mechanism to settle […]

IOC, L&T, ReNew team up

State-owned refiner IOC, engineering and construction giant Larsen & Toubro and renewable energy company ReNew Power on Monday came together to form a joint venture to develop a green hydrogen business. IOC and L&T have additionally signed a pact to form a joint venture with equity participation to manufacture and sell electrolysers used in the […]