India’s diesel demand is expected to rise to record levels again this year as a slew of infrastructure projects boosts use of the transport and industrial fuel, although a government-induced cash shortage will hold growth to its slowest in three years. Increased fuel efficiency, a fall in commercial vehicle sales, and the use of other […]
Day: May 30, 2017
Power Grid plans capex of Rs 25,000 crore for FY18
State-run Power Grid Corporation, which has reported a 22 per cent rise in standalone net profit for March 31 quarter at Rs 1,916.36 crore, has planned a capex of Rs 25,000 crore for this fiscal. “We have been aggressively expanding and participating in all possible opportunities. For the current fiscal, we have planned a capex […]
India struggles with no uptake for rooftop solar in metro cities: Study
India might be playing a leadership role in bringing the world together for the International Solar Alliance, but it is struggling with the adoption of solar rooftops in its metro cities, a recent study has shown. Despite friendly policies and net metering guidelines in several states and a subsidy of 30 per cent offered by […]
Adani to finalise Carmichael coal mine project after royalty agreement
Adani Enterprises (ADEL.NS) will move ahead with a final financing decision for its Carmichael coal mine project in Australia after an end to negotiations on how to pay government royalties, it said on Tuesday. “The Adani parent company board will consider the final investment decision at the next board meeting.” the company said in a […]
REC Q4 net profit up 14% at Rs 1,319 cr
State-run Rural Electrification Corp (REC) today reported 13.72 per cent jump in standalone net profit to Rs 1,319.23 crore for the March quarter of last fiscal, 2016-17. Its net profit was Rs 1,160.03 crore in the January-March quarter of the previous fiscal, 2016-16, the REC stated in BSE filing today. The company’s total revenue however […]
Aviation ministry to cooperate with CBI probe into Air India deals
India’s civil aviation ministry will cooperate with a federal investigation into alleged irregularities in the purchase of 111 aircraft by state-run carrier Air India and into its merger with Indian Airlines, the civil aviation minister said on Tuesday. The Central Bureau of Investigation (CBI) said on Monday it had registered three cases against Air India […]
Rs 240 cr land acquisition scam: NHAI writes to Uttarakhand govt, says drop officers names from FIR
YS Malik, the Chairman of National Highways Authority of India (NHAI) has written to the Chief Secretary of Uttarakhand S Ramaswamy and demanded that the names of NHAI officials be dropped from an FIR in a land acquisition scam worth Rs 240 crore, related to the widening of National Highway-74 (NH-74). Malik’s letter stated that […]