India’s thermal coal imports rose at the fastest pace in three-and-a-half years in the September quarter, spurred by new demand and domestic infrastructure bottlenecks that are threatening government plans to cut foreign supplies. Imports jumped 35 per cent to 42.7 million tonnes during the three months ended Sept. 30, according to data from American Fuels […]
Day: October 25, 2018
BHEL reports 60% surge in Q2 net profit at Rs 1.85 bn vs Rs 1.15 bn
State-owned power plant equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) Thursday reported a 60 per cent surge in its September quarter net profit as its order book more than doubled. Net profit of the company stood at Rs 1.85 billion, or Rs 0.50 per share, in July-September period of this year compared with Rs 1.15 […]
Coal India to get 8 new coal blocks with 1.3 billion tonnes reserves
The government has identified eight new coal blocks with total reserves of around 1.3 billion tonnes that are likely to be allotted to Coal India. The allocation was recommended by a committee formed to identify additional coal and lignite blocks for allocation, headed by additional coal secretary. It had examined about 150 blocks with the […]
India to be world’s third largest aviation market by 2024-25: IATA
India will be the world’s third largest air travel market by 2024 when it overtakes UK. The International Air Transport Association (IATA) Wednesday gave the global trends for aviation which says the “eastward shift in aviation’s center of gravity continues”. The number of flyers globally could double to 8.2 billion in 2037. “China will displace […]
Nepal’s dry session power import from India to go up
Though rich in hydropower, crunched in production capacity, Himalayan country Nepal is going to increase its power import from India. While brightening Nepal’s dry winter time power profile, the trade will help India also in remaining as strong contender to explore the hilly nation’s huge untapped hydropower potential. Nepal imports as high as 500 MW […]
Pain in aviation sector likely to continue; IndiGo remains top analyst pick
Aviation companies have been under pressure in calendar year 2018 with all the three listed companies – Jet Airways, SpiceJet and InterGlobe Aviation slipping 74 per cent, 52 per cent and 32 per cent, respectively on a year-to-date (YTD) basis. In comparison, the S&P BSE Sensex has lost nearly 1 per cent during the window. […]
Saudi Aramco ‘absolutely ready’ for IPO: minister
Saudi oil giant Aramco is “absolutely ready” for its long-awaited IPO but several regulatory procedures remain, the kingdom’s economy minister told the Future Investment Initiative conference in Riyadh on Thursday. After reports that the initial public offering had been scrapped, Crown Prince Mohammed bin Salman said early this month that it will go ahead in […]