Shares of state-owned oil exploration & production companies, Oil and Natural Gas Corporation (ONGC) and Oil India hit their respective 52-week highs on the BSE in intra-day trade on Thursday on rising crude oil prices. ONGC was up 4.4 per cent to Rs 122.95, surpassing its previous high of Rs 122.30, touched on March 8, […]
Day: June 4, 2021
TCS aims to reduce emissions by 70% in 2025, bring down to zero by 2030
IT services major, Tata Consultancy Services (TCS) announced plans to reduce its absolute greenhouse gas emissions across Scope 1 and Scope 2 by 70 per cent by 2025 (over 2016 base year), and to achieve net zero emissions by 2030. In its recently published Integrated Annual Report 2020-21, the company has set forth this new […]
ACME Solar to sell 50% stake in 900 Mw solar plant to Norway’s Scatec
Norwegian renewable major Scatec has entered an agreement with Gurgaon-based ACME Solar to pick up a 50 per cent stake in the latter’s 900-Mw solar power plant in Rajasthan. ACME had won this project at a record low tariff of Rs 2.44 per unit in 2018. In a public statement, Scatec said it has entered […]
TechEagle gets approval to deliver medicines using drones in Telangana
TechEagle, a leading delivery drone startup, has got official approvals to deliver vaccines and medicines supply in the State of Telangana using drones. This is being done in collaboration with the Government of Telangana, NITI Aayog and World Economic Forum. TechEagle is aiming to strengthen the healthcare ecosystem with on-demand and rapid delivery of medicines […]
IndiGo to report Q4 results on Saturday; Here’s what analysts expect
IndiGo Q4 preview: As Indian took more flights to travel amid fewer Covid-19 cases early this year, outlook for the Indian airlines began to look promising. However, as cases began to soar from early March and as fuel prices began climbing on global demand optimism, the recovery hopes faded away. This contrasting situation has analysts […]
Five senior pilots of Air India died in May due to Covid pandemic
Five senior pilots of Air India have died in May due to COVID-19, senior officials said on Thursday, adding that the carrier has started vaccinating its employees from May 15 onwards after a delay due to non-availability of vaccines. These five senior pilots were Captain Harsh Tiwary, Captain G P S Gill, Captain Prasad Karmakar, […]
Aviation firms in talks with banks to raise debt under modified ECLGS
Companies providing support services to airlines have initiated discussions with banks to raise debt under the modified Emergency Credit Line Guarantee Scheme (ECLGS). On Sunday the government announced that companies in the civil aviation sector which are facing headwinds would be able to borrow up to Rs 200 crore of fresh loans under the scheme. […]
Domestic air passenger traffic nosedives to 1.92 million in May: Report
Domestic air traffic nosedived to 19.20 lakh passengers in May from around 57.3 lakh in April, registering a sharp 65-67 per cent month-on-month contraction on account of the second wave of the pandemic, a report said on Thursday. With such a sharp fall, the domestic passenger traffic reached lower than the June-July 2020 levels, rating […]
Indian airlines may post $4.1 billion consolidated loss this fiscal: CAPA
Indian airlines are expected to post a consolidated loss of USD 4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around USD 8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. […]
Govt must consider Air India’s massive financial burden: CAPA India
The government must consider Air India’s massive financial burden, which is likely to be a potential liability of USD 20 billion before a business turnaround, during the disinvestment process and look at possible changes to the contours of the proposed sale, according to a report. Leading consultancy CAPA India on Thursday also emphasised that the […]
Can’t have auto-restoration of slots to Jet Airways: Centre tells NCLT
The Ministry of Civil Aviation (MoCA) in its additional affidavit to the National Company of Law Tribunal (NCLT) has reiterated its stance on the issue of slots saying the resolution applicant cannot claim historicity on slots that were allocated to them earlier. “….there can’t be any automatic revival of approvals granted to Jet airways and […]