Domestic air traffic will grow 18-20 per cent and cross 150 million in FY 2019 on the back of unprecedented capacity induction, aviation consultancy CAPA said in its outlook on Tuesday. Yield pressure led by rapid capacity expansion and a spike in crude oil price remain key concerns for profitability and on consolidated basis airlines […]
Month: January 2018
Executive engineer beaten up over power theft case
An FIR has been registered against a BJP leader and 15 others for allegedly beating an executive engineer of the power department to force him to withdraw a power theft case, police said today. The FIR was registered against BJP district president HarishShakya and 15 others at Civil Lines police station yesterday for allegedly beating […]
Indian Oil gains 5% on 1:1 bonus, interim dividend of Rs 19 per share
Indian Oil Corporation (IOCL) gained 5% to Rs 419 on BSE in intra-day deal after the company’s board recommended bonus shares in the ratio of 1:1 i.e. one equity share for one exiting equity share held. The board also declared an interim dividend of Rs 19 per equity share on face value of Rs 10. […]
Rising oil prices one of the biggest risks to Indian economy
Rising oil prices is one of the biggest risks to the Indian economy next fiscal year as it could crimp real incomes and spending, the Economic Survey has said. India has benefited from the low oil prices for the last three years but about 45% rise in crude prices since the middle of 2017 appear […]
India needs $ 4.5 trillion by 2040 to develop Infra: Eco Survey
India will need about USD 4.5 trillion in the next 25 years for infrastructure development, of which it will be able to garner about USD 3.9 trillion, the Economic Survey said. “The Global Infrastructure Outlook reflects that rising income levels and economic prosperity is likely to further drive demand for infrastructure investment in India over […]
NTPC ties up with Jabalpur City Transport Service to set up EV charging infra
NTPC has signed a tripartite Memorandum of Understanding (MoU) with Jabalpur Smart City Limited and Jabalpur City Transport Services Limited for setting up charging infrastructure for all segments of electric vehicles across the city. Ved Prakash, Commissioner, Municipal Corporation of Jabalpur & Managing Director, Jabalpur City Transport Services Limited said “Reducing the dependence on fossil […]
Sterlite Power acquires StanChart stake for Rs 1,010 crore
Sterlite Power has acquired the 28.4% stake in its transmission infrastructure business from Standard Chartered Private Equity (SCPE) for Rs 1,010 crore. With this acquisition, Sterlite Power holds 100 % stake in the business. Sterlite Power had attracted an investment of Rs 500 crore in 2014 from SCPE which was the first private foreign investment […]
CPEC shouldn’t be swept under the carpet, ready for talks with India: China
China on Monday said it is ready to hold talks with India to resolve their differences on the contentious $50 billion China-Pakistan Economic Corridor (CPEC) that passes through PoK. Asked about Indian Ambassador to China Gautam Bambawale’s interview to state-run Global Times in which he had said that differences on the CPEC should not be […]
Coal, renewable, spectrum auctions led to ‘winners’ curse: Economic Survey 2018
The Economic Survey 2018 voiced concerns on the aggressive bidding submitted by companies for bagging licences for spectrum, coal mining and solar and wind projects. “In the case of spectrum, coal, and renewables, auctions may have led to a winners’ curse, whereby firms overbid for assets, leading to adverse consequences in each of the sectors; […]
UDAN to give a boost to aviation sector: Economic Survey
The government’s Regional connectivity scheme will give a boost to the aviation sector, the Economic Survey has said adding that the growth prospects for the aviation sector look ‘bright’. “To make flying accessible and affordable for the masses in the regionally important cities, the RCS-UDAN scheme was launched in October 2016. This is a first-of-its-kind […]
RInfra bags Rs 882 crore road contract from NHAI
Anil Ambani-led Reliance Infrastructure (RInfra) today said it has bagged a Rs 882 contract from the National Highways Authority of India (NHAI) for six-laning of Aurangabad to Bihar Jharkhand border (Chordaha) section of NH-2 in Bihar. The company has received the Letter of Award (LoA) for the project from NHAI under the National Highway Development […]
Make Solar In India
Solar Energy Corporation of India Ltd (SECI) has invited Expression of Interest (EoI) from companies intending to setup integrated solar power manufacturing supply chain covering polysilicon, wafers/ingots, cells and modules to accelerate the growth of the solar photo-voltaic sector. The government intends to attract the manufacturers with 20,000 MW of assured business, and the selection […]