In an apparent sign of recovery of the aviation sector from the Covid-19 pandemic, India’s largest airline IndiGo has reduced leave without pay (LWP) for its pilots from monthly 10 days in July to three days in November. Domestic air traffic jumped the most since the lockdown, with a month-on-month growth of 39 percent in […]
Month: October 2020
Maharashtra State Road Transport Corporation likely to borrow ₹2,000 crore to continue operations, pay salaries
The cash-strapped Maharashtra State Road Transport Corporation (MSRTC), which runs buses across the state, hopes to secure a loan of ₹2,000 crore to continue its operations. During the lockdown, MSRTC has suffered a loss of ₹5,500 crore. State transport minister Anil Parab said on Friday that MSRTC is seeking ₹3,600 crore from the state, but […]
Maharashtra Navnirman Sena chief Raj Thackeray raises issue of inflated power bills with Sharad Pawar
A day after he met Maharashtra Governor to raise the issue of inflated power bills, Maharashtra Navnirman Sena (MNS) chief Raj Thackeray on Friday spoke to Nationalist Congress Party (NCP) chief Sharad Pawar on phone, asking the veteran leader to intervene in the issue and provide relief to citizens. According to sources, it was Governor […]
Panama Canal is clogged with ships, and the pandemic is making it worse
Ships carrying cargoes around the world are waiting for days to pass through the Panama Canal, as pandemic hit staffing caused congestion at the key pinch point. Long waiting times are affecting shipments of liquefied natural gas and liquefied petroleum gas from the US Gulf Coast to Asia, according to people with direct knowledge of […]
Hike in ethanol prices to help sugar mills to clear cane dues
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved hikes of Rs 1.94-3.17/litre in the reserve prices of different categories of ethanol to be purchased by oil marketing companies (OMCs) under the ethanol blending programme during the 2020-21 season to help sugar mills earn more and clear the cane dues of farmers. Declining realisation […]
Hike in ethanol prices will be positive for sugar industry: Icra
The recent hike in the ethanol prices will be positive for the sugar industry in the light of prevailing sugar surplus situation in the country, according to a report. The Cabinet Committee on Economic Affairs (CCEA) has recently increased the basic price of ethanol produced from C-heavy, B-heavy molasses and sugarcane juice by Rs 1.94 […]
Petrol, diesel prices on freeze: Indian Oil Corp says international oil prices range-bound
State-owned Indian Oil Corp (IOC) on Friday said international oil prices have been range-bound in the last few weeks, warranting no revision in retail petrol and diesel rates. While petrol price hasn’t changed since September 22, diesel rates have been static from October 2. “Crude oil has not seen any drastic movement,” IOC Chairman Shrikant […]
IOC plans to raise Rs 20k cr via pvt placement bonds
The board of directors of state-run oil refiner Indian Oil Corporation (IOC) has approved a plan to raise Rs 20,000 crore in FY21 via private placement of bonds and debentures in one or more tranches. The fund raising is part of the overall limit of Rs 165,000 crore approved by shareholders at its previous annual […]
Over 3 million cases of coronavirus reported in Mideast
The number of reported coronavirus cases has gone over 3 million in the Middle East, an Associated Press count showed Friday, with the true number likely even higher. Across the Mideast, there have been over 75,000 deaths attributed to the virus by health authorities, the AP count relying on reported figures by individual countries shows. […]
HPCL share price surges 5% as firm mulls buyback; should you buy?
Hindustan Petroleum Corporation Ltd (HPCL) share price jumped nearly 5 per cent to Rs 188.40 apiece on BSE, a day after the company informed that it will consider share buyback on November 4. With today’s gain in the stock price, HPCL is up over 21.5 per cent from its 52-week low, taking the total market […]
BPCL Q2 profit jumps 58% on refining margins, inventory gains
Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) on Thursday reported 58 per cent jump in September quarter net profit on the back of inventory gains and a rise in refining margin. Consolidated net profit at Rs 2,589.52 crore in July-September compared to Rs 1,502.63 crore in the same period a year ago. “We had excellent results […]
BP pitches for infra sharing with cos like ONGC; sanctity of contract
Ahead of starting the next wave of gas production from the KG basin, UK-based supermajor BP Plc has pitched for oil and gas producers sharing their infrastructure to help cut costs and monetise small and marginal discoveries. BP, which in partnership with Reliance Industries Ltd is investing USD 5 billion in developing three sets of […]