NEW DELHI: Over eight crore traders from over 40,000 trade associations, one crore transporters, three crore hawkers and nearly 75 lakh small industries across India have shut shop in protest against rising fuel prices, changes in GST rules and the e-way bill mechanism, among other issues.
Day: February 27, 2021
Analyst Corner| NTPC: Maintain ‘buy’ with DCF-based TP of Rs 141
The Ministry of Power (MoP) has issued a notification on Late Payment Surcharge (LPS). As per the new rules, LPS would be based on one-year SBI MCLR v/s a fixed rate of 18% p.a. specified in the tariff regulations issued by CERC. In the current scenario, this would imply a LPS of 12-15% p.a. We […]
ABB Power Products and Systems net profit up 55 pc at Rs 55 cr in December quarter
ABB Power Products and Systems India on Friday reported a nearly 55 per cent rise in its net profit at Rs 55 crore in the December quarter due to higher revenues and realisation of old receivables. Hitachi ABB Power Grids in India is listed as ABB Power Products and Systems India Ltd on Indian bourses. […]
National Infrastructure Pipeline Expanded To Nearly 7600 Projects
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman in a virtual meeting today with CEO, NITI Aayog and Secretaries of 22 Infrastructure Ministries/Departments discussed post-budget action points for infrastructure roadmap ahead including NIP implementation. This was the third review meeting by the Finance Minister with Ministries/Departments about the importance of National Infrastructure Pipeline (NIP) […]
Board of Indian Oil approves capex of Rs 32,946 cr for expansion of Panipat Refinery
At meeting held on 26 February 2021 The Board of Indian Oil Corporation at its meeting held on 26 February 2021 has accorded its approval for capital investment for capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA along with installation of Polypropylene Unit and Catalytic Dewaxing Unit at an estimated cost of […]
ABB Power Products Q4 PAT jumps 54% YoY to Rs 55 cr
ABB Power Products and Systems India reported a 54.9% jump in net profit to Rs 54.96 crore on 6.90% decline in total revenue from operations to Rs 1,043.7 crore in Q4 December 2020 over Q4 December 2019. ABB Power Products follows a calendar year for accounting. The company’s profit before tax jumped 79.8% to Rs […]
ABB Power Products and Systems India Ltd leads losers in ‘A’ group
Techno Electric & Engineering Company Ltd, Bank of Maharashtra, Mahindra & Mahindra Financial Services Ltd and Shriram Transport Finance Company Ltd are among the other losers in the BSE’s ‘A’ group today, 26 February 2021. Techno Electric & Engineering Company Ltd, Bank of Maharashtra, Mahindra & Mahindra Financial Services Ltd and Shriram Transport Finance Company […]
IOCL to invest Rs 32,946 cr to expand capacity of Panipat refinery
This capital infusion is expected to increase the capacity of Panipat refinery to 25 MMTPA from 15 MMTPA. The board of IOCL at its meeting held on 26 February 2021 approved an investment of Rs 32,946 crore to expand the capacity of Panipat Refinery. This capital infusion is expected to increase the capacity of refinery […]
The economics of petrol pricing
The increase in petrol price has come when the economy is turning a corner and inflation is coming down. Government revenues have also started reverting to normal. The argument for higher levies on petrol and diesel, which could have been justified when the crude oil price was low and consumption declined sharply, is not really […]
Oil drops 1% on US dollar strength, expectations for supply gains
Oil prices fell on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to return to the market. U.S. West Texas Intermediate (WTI) crude futures dropped 96 cents, or 1.5%, to $62.57 a barrel at […]
Australia lifts ban on Boeing 737 MAX, among first in Asia-Pacific region
Australia’s aviation regulator said on Friday it would lift a near two-year ban on flights to and from the country that use the Boeing Co 737 MAX planes, among the first in the Asia-Pacific region to do so. “We … are confident that the aircraft are safe,” Graeme Crawford, the acting chief of the Civil […]
Pandemic pushes British Airways-owner IAG to record $9 billion loss
British Airways-owner IAG plunged to a record 7.43 billion euro ($9 billion) loss last year as pandemic travel paralysis saw it burn through cash, and it warned on Friday it could not say when normal flying conditions would return. Tighter travel restrictions brought in by countries over the last two months have threatened to ruin […]