With rapidly rising fuel prices threatening to turn into a political hot potato, the government seems to have found itself in a firefight. Petrol (regular) prices breached the Rs 100 psychological barrier, a first for India, in Rajasthan’s Sri Ganganagar yesterday and in Madhya Pradesh today. Premium variants of petrol, on the other hand, had […]
Day: February 18, 2021
Tapovan tragedy is second blow to NTPC after Loharinagpala
NTPC Limited on Wednesday said it is yet to make an assessment of the damage caused by the Feb 7 deluge to its 520 Mw Tapovan-Vishnugad hydel project. After his recent visit to Tapovan, Union Minister of State for Power R.K Singh had earlier put an estimated loss of Rs 1500 crore for the project […]
Taking steps to prevent cherry picking; states on board for discoms delicensing: Power Secy Alok Kumar
The government is taking steps to ensure level playing field for state-owned electricity distribution companies and dissuade cherry picking of supply areas by private companies when the sector is delicensed, power secretary Alok Kumar told ET in his first media interaction. The government is keen to table the Electricity Act Amendment Bill in the Budget […]
L&T Construction bags major contract to build two units of Kudankulam plant
The construction arm of L&T has bagged a contract from the Nuclear Power Corporation of India Limited (NPCIL) for civil work at the main plant of Kudankulam Nuclear Power Plant’s units 5&6 (KNPP 5&6 – 2X1000 MWe) . While the company did not disclose the value of the order, it generally classifies as significant, if […]
Government may challenge international tribunal’s Cairn tax order
The government is in no mood to relent in its fight to recover $1.2 billion in tax claims from Cairn and is looking to appeal against the international tribunal’s verdict or get the British company to seek a settlement under ‘Vivad Se Vishwas’ scheme. The tough posture comes despite Cairn approaching a US district court […]
GAIL buyback offer to open for 6,97,56,641 fully paid-up equity on Feb 25
Energy major GAIL India will open its buyback on February 25 for up to 6.97 crore fully paid-up equity shares of face value Rs 10 each. This represents 1.55 per cent of the total number of equity shares in issued, subscribed and paid-up equity share capital of the company. The company will buy back shares […]
Essar signs MoU with IIT Dhanbad (ISM) for R&D in CBM gas exploration
Essar Oil and Gas Exploration and Production Ltd (EOGEPL), India’s leading coal seam gas producer, on Wednesday said it has signed a pact with IIT Dhanbad (Indian School of Mines) to jointly carry out research and development on coal bed methane (CBM) technologies. The Memorandum of Understanding for collaboration provides for finding “an effective solution […]
Coal-fired brick kilns cannot be allowed to operate in NCR during severe pollution: NGT
Coal-fired brick kilns cannot be allowed to operate in the NCR even if zig-zag technology is used and improved procedures are followed during ‘severe’ pollution, the National Green Tribunal has said. Unless there is a change to a cleaner fuel (PNG), brick kilns beyond the number specified cannot be allowed in the NCR, the green […]
Trading strategies for lead and crude oil by Tradebulls Securities
Gold prices have dropped below $1,800 to nearly 2-week low on strength of US Dollar and rise in US Treasury Yields. The price of gold appears to reverse course after its failed attempt at the start of the February to test its recent high of $1,872. The US 10 year Treasury yield is back to […]
Oil and gas shares flare as govt plans to spend Rs 7.5 trn on related infra
Shares of oil and gas companies advanced up to 18 per cent in intra-day trade on the BSE on Thursday after Prime Minister Narendra Modi said the government is planning to invest Rs 7.5 trillion to build oil and gas infrastructure over the next five years. Shares of Gujarat Gas zoomed 18 per cent to […]
Oil extends rally on Texas supply disruptions; crude gains 2.2%
Oil prices rose on Wednesday, underpinned by a major supply disruption in the southern United States this week where a winter storm hit Texas. Benchmark Brent crude gained $1.37, or 2.2%, to $64.72 a barrel at 1237 GMT. US West Texas Intermediate (WTI) crude rose $1.18, or 2%, to $61.23 a barrel. Both contracts were […]
UAE aviation agency clears Boeing 737 Max to fly again after 2 years
The United Arab Emirates, a key international travel hub, announced on Wednesday it has lifted its ban on Boeing’s 737 Max, allowing the plane to return to its skies after being grounded for nearly two years following a pair of deadly crashes. Saif al-Suwaidi, director general of the UAE’s General Civil Aviation Authority, said the […]