Shares of KNR Constructions hit a record high of Rs 475 after they rallied 17 per cent on the BSE in Tuesday’s intra-day session ahead of the bonus issue share issue. The stock has surged 29 per cent in the past two days. The company will allocate bonus shares in the ratio of 1:1 i.e. […]
Day: February 2, 2021
India’s proposed discom reform plan to benefit gencos in long term: Fitch
India’s proposed plan to improve operations and finances of state-owned distribution companies (discoms), the weakest link in power supply value chain, will help mitigate cash flow stress observed in rated power generation companies (gencos) over time, according to Fitch Ratings. The 41 billion dollar plan intends to trim electricity losses, gradually narrow discoms’ cost-revenue gap, […]
India’s January gasoil sales decline at slowest rate in 3 months: Prelim data
India’s diesel sales fell 2.3% in January year-on-year, their slowest pace of decline in three months, preliminary data showed on Tuesday, indicating a gradual recovery in industrial growth in Asia’s third-largest economy. Local diesel sales by state-run refiners have been falling since March, when coronavirus-related restrictions slammed industrial activity and mobility. However, annual demand for […]
Goa: Power dept extends OTS scheme again by a month
The electricity department has granted yet another extension to its one time scheme (OTS) for power defaulters. Power minister Nilesh Cabral on Monday announced that the scheme would be kept open for another month, till February 28 without the option of six instalments. He said they will be allowed to settle their dues within two […]
Coal India production drops 4.1 per cent in Jan
State-owned CIL’s coal production declined by 4.1 per cent to 60.5 million tonne (MT) last month. Coal India (CIL) had produced 63.1 MT of dry-fuel in January last fiscal, the company said in a BSE filing. The company’s output in the April-January period was at 453.3 MT over 451.5MT in the corresponding period of the […]
Barring PowerGrid, total investments by power PSUs to rise 19 per cent to Rs 60,000 cr in FY22
The government has increased total investments by eight state-owned power companies, including REC Ltd, by over 19 per cent to Rs 59,990.52 crore for 2021-22. This compares to revised estimate of Rs 50,311.03 crore for the current financial year. REC Ltd witnessed highest increase of over 69 per cent in investment to Rs 9,300 crore […]
Alok Kumar takes over as Power Secretary
Alok Kumar, a 1988 batch Indian Administrative Service (IAS) officer of Uttar Pradesh cadre, on Monday took over as Union Power Secretary. Kumar will succeed Sanjeev Nandan Sahai, who retired on January 31, 2021, a senior official said. Before joining as the Union Power Secretary, he was the additional chief secretary, Industrial Development and IT […]
Aero India takes off on Feb 3 amid Covid, buzz around ‘Aatmanirbhar Bharat’
The country’s premier aerospace and defence exhibition, Aero India 2021 takes off here on Wednesday amidst the COVID-19 pandemic with buzz around “AatmaNirbhar Bharat Abhiyaan” and “Make in India” push. With a combination of both physical and virtual exhibition, the 13th edition of the biennial international event at Air Force Station Yelahanka will be the […]
‘$104bn in stranded asset risk for oil, gas pipelines in India’
With the Union Budget for 2021-22 laying a major focus on the launch of a National Hydrogen Mission for generating hydrogen from green power sources, a survey by international researchers on Tuesday said there is $104 billion in stranded asset risk for oil and gas pipelines in India. While the Indian government has not announced […]
Air India disinvestment to be completed in 2021-22
Disinvestment of Air India and Pawan Hans would be completed in 2021-22, Finance Minister Nirmala Sitharaman said on Monday while presenting the Union Budget in which ₹3,224 crore has been allocated to the Civil Aviation Ministry for the next fiscal year. Air India is currently undergoing disinvestment process. Multiple entities submitted their expression of interest […]
Budget: 3500 km of national highway projects to begin in TN at a cost of Rs 1.03 lakh crore
CHENNAI: Finance Minister Nirmala Sitharaman announced 3500 km of national highway projects in Tamil Nadu at an investment of Rs 1.03 lakh crore in the Union Budget on Monday. This includes the Madurai-Kollam corridor and Chittoor-Thatchur corridor. The construction will start next year. The project is part of the economic corridor projects. Already, bids have […]
Budget 2021: How will cess on petrol, diesel impact you?
Union finance minister Nirmala Sitharaman on Monday announced an agriculture cess on petrol and diesel at ₹2.5 /litre and ₹4 /litre respectively. This addition by the Centre comes at a time when the prices of both fuels have been touching new heights with multiple surges this month. However, Sitharaman said that the Agriculture Infrastructure and […]