9874682053Domestic natural gas production slipped 2.2% year on year (YoY) to 2,551 million standard cubic metre (mscm) in January. The 2.6 million tonne (MT) of crude oil produced in the country during the month was also 4.6% lower than the production in the year-ago period. Indigenous natural gas production caters to about 51% of the […]
Day: February 20, 2021
Green hydrogen auctions in 3-4 months: R K Singh
NEW DELHI: Taking forward the National Hydrogen Mission announced in the Union Budget this month, the Government of India is planning to make the usage of Made-in-India green hydrogen mandatory in sectors such as steel, oil refineries, and fertilizers. The Centre is planning for green hydrogen auctions within the next 3-4 months to further this […]
Electric vehicles usage should be made mandatory for all government officials: Gadkari
NEW DELHI: Transport Minister Nitin Gadkari on Friday made a case for making it mandatory to use electric vehicles for all officials in government ministries and department. He also suggested that government should give subsidy to buy electric cooking appliances instead of giving support for buying cooking gas to households. Addressing at the launch Go […]
Petrol crosses Rs 90 mark in Delhi, diesel at Rs 80.60
NEW DELHI: Petrol price on Friday crossed the Rs 90-per-litre mark in the national capital, and diesel soared to Rs 80.60 after rates were increased for the 11th consecutive day in a row. Petrol price on Friday was hiked by 31 paise per litre and diesel by 33 paise, according to a price notification of […]
Power Grid rating – Buy: Strong show by transmission segment
Power Grid (PWGR)’s result highlights strong underlying numbers for its Transmission segment—implying ~18% y-o-y growth. Reported S/A PAT was further aided by higher other income, resulting in a 24% y-o-y rise. PWGR has won Rs 90-100 bn of awards in Q3, which is a positive, given a declining order book. Valuations at 1.5x FY22e P/BV […]
Gujarat Gas: Reiterate ‘buy’ with TP of Rs 560
Gujarat Gas (GUJGA) has proved to be a clear outperformer since the curbing of polluting fuels at Morbi – an impetus by the government toward the adoption of greener fuel. Since our upgrade in Dec’19, the stock is up 116% – it has outperformed the Nifty by ~95% – despite which the stock trades at […]
India’s offer to Cairn in $1.4-bn arbitration battle: ‘Pay half the dues and move on’
Discussions between finance ministry officials and Cairn Energy CEO Simon Thomson – and his team – continued for the second day on Friday, but it appears the government wants Cairn to settle the dispute using the Vivad se Vishwas scheme; under the scheme, the company will have to pay around half the amount due sans […]
National Hydrogen Energy Mission: Govt plans green hydrogen auction
Closely after Union finance minister Nirmala Sitharam proposed the introduction of a “National Hydrogen Energy Mission” in her budget speech, the government has started preparations for holding auctions for green hydrogen, which is hydrogen produced from renewable energy sources. Union power minister RK Singh said on Friday that the government is planning to call for […]
India digs heels in Cairn arbitration matter, to file appeal against Rs 10,000-cr award: Sources
The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said. An international tribunal in December, had unanimously ruled that India violated its obligations under the UK-India Bilateral Investment Treaty in 2014, when the income tax department had slapped a Rs 10,247-crore tax assessment using […]
Congress holds half-day bandh in Madhya Pradesh against fuel price rise
The Congress in Madhya Pradesh is observing a half-day statewide ‘bandh’ on Saturday to protest against the rising petrol and diesel prices. Former chief minister Kamal Nath appealed to the people of the state to cooperate and make the shutdown a success. “Today Madhya Pradesh will observe bandh till 2 pm. People are in distress […]
Rajasthan CM Ashok Gehlot attacks Modi govt over rising fuel prices
Rajasthan Chief Minister Ashok Gehlot on Saturday said fuel prices have been increasing for 11 days and the common man is suffering as a result of “wrong” economic policies of the Centre. In a series of tweets, Gehlot targeted the Centre and cleared his stand on the rumours that Rajasthan levies highest tax on fuel […]
Madhya Pradesh Cong calls for half-day bandh on Saturday against fuel price rise
The Madhya Pradesh Congress on Friday gave a call for a half-day ‘bandh’ in the state on February 20 against the rising fuel prices. The party urged the people to cooperate and make the half-day shutdown a success. “People are in distress due to skyrocketing prices of diesel, petrol and cooking gas. The government is […]