The highway sector seems to again witness investors’ interest in pure public-private partnership (PPP) projects, the share of which in new awards has declined precipitously for nearly a decade and drawn a blank in the last two financial years. At least four firms — IRB Infrastructure, Adani Group, GR Infraprojects and PNC Infratech — have […]
Day: March 6, 2021
Analyst Corner| Final rating on OIL ‘hold’, final target price Rs 140
We are terminating coverage of Oil India Limited due to a reallocation of resources. Our final target price is Rs 140 (earlier Rs 90), and our final rating is ‘hold’. Please note that you should no longer rely on any previous research, ratings, target prices or estimates for this company. HSBC has decided to terminate […]
ONGC Rating ‘Hold’; Downside risks to oil price a concern
HSBC’s global oil & gas team sees near-term downside price risks to oil prices. This is alluded to in an anticipated conservative OPEC+ agreement supporting prices in the short term, but there is still much more spare capacity in OPEC+ than there is likely demand growth. There will be a need for continued OPEC+ restraint […]
Reliance Power defaults on repayment to lenders
Reliance Anil Dhirubhai Ambani Group firm Reliance Power has defaulted on repayments to Axis Bank, Yes Bank and Lakshmi Vilas Bank (LVB) due on January 31, 2020. As per regulatory disclosures, the company has defaulted on repaying Rs 78 lakh to Axis Bank, Rs 1.09 crore to Yes Bank and Rs 1.25 crore to LVB. […]
OPEC ignores India’s call; Saudi asks New Delhi to use cheap oil it bought last year to cool prices
International oil prices rose after OPEC and its allies ignored India’s plea to ease production control, with Saudi Arabia asking New Delhi to instead use oil it bought at rock bottom rates last year. Brent crude, the most widely used benchmark, on Friday rose nearly 1 per cent to USD 67.44 a barrel after the […]
Private power plants seek Odisha govt’s help to cut water charges
Private power plants of Odisha have asked the state government to provide some relief regarding the charges of water consumption in electricity generation stations. Stating that the water charges in Odisha are higher than in other states, the Association of Power Producers (APP) said that the plants should be billed according to the actual water […]
RPower-JERA JV achieves financial closure for Bangladesh project
Reliance Power (RPower) and JERA joint venture project company said on Thursday it has achieved the financial closure for phase-1 of 745 MW gas based combined cycle power project in Meghnaghat, Bangladesh with group of lenders —Japan Bank of International Cooperation (JBIC), and Asian Development Bank (ADB). “All requisite conditiins for availing the drawdown under […]
Premier Energies bets on domestic content to add solar module capacity
Hyderabad-based Premier Energies has invested Rs 430 crore to increase its module manufacturing capacity to 1,500 mega-watt (MW) per year from its current base of 500 MW, enthused by the market visibility offered through various central government solar schemes with mandatory domestic content requirement. The company is also adding 750 MW of cell manufacturing capacity […]
Reserves exhausted early, Chhattisgarh coal mine seeks larger forest area
A coal block in Chhattisgarh’s Hasdeo Arand region has nearly exhausted its reserves seven years before the approved timeline, and has applied for an amendment to the forest clearance granted to it by the Union environment ministry. The forest clearance for phase 1 of Parsa East and Kete Basan (PEKB) coal block was granted in […]
Airlines urge relaxation on refunds as EU probes passenger rights
European airlines on Thursday renewed a push to relax refund rules as EU auditors and the European Commission started separate probes into air passenger rights and whether they were being respected. At the start of the Covid-19 pandemic a year ago, carriers sought to suspend EU rules requiring refunds for cancellations. They instead issued vouchers […]
Oil soars to near 14-month high as OPEC+ extends output cuts into April
Oil prices jumped more than $1 a barrel on Friday, hitting their highest levels in nearly 14 months, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic. Brent crude futures for May rose to as high as $68 a […]
Chaos on Pune-bound IndiGo flight after passenger claims of being Covid positive
Unprecedented chaos was witnessed onboard a Pune-bound IndiGo flight at the Indira Gandhi International Airport after a passenger claimed he was a Covid-19 patient. “On March 4, a passenger announced himself that he was travelling to Pune and that he was Covid positive. He informed flight crew on board,” an Indigo official told ANI on […]