NEW DELHI: Amid sultry weather and easing of the Covid lockdown, Delhi’s peak power demand soared to 6,185 MW on Wednesday, the highest so far this summer, discom officials said. At 31.4 degrees Celsius, Delhi recorded the highest minimum temperature so far this year on Wednesday, according to the India Meteorological Department.
Day: June 10, 2021
Heat, humidity and relaxed lockdown norms keep power consumption on the rise in Delhi
NEW DELHI: With humidity and temperature rising, Delhi’s peak power demand clocked 6,185 MW on Wednesday, the highest so far this summer. The power demand is 21 per cent more than the corresponding peak power demand of 5,119 MW recorded on June 9 last year. Easing of lockdown has also contributed to the power demand […]
Videocon to give Anil Agarwal’s group majority stake in Ravva oilfield
NEW DELHI: Billionaire Anil Agarwal’s metals-to-oil group on Wednesday said it will make an upfront payment of almost USD 40 million (about Rs 292 crore) for the acquisition of Videocon Industries Ltd, which will help it become the largest shareholder in the Ravva oil and gas fields in KG basin. The National Company Law Tribunal’s […]
Private airport operators seek government aid as COVID second wave shatters aviation industry
NEW DELHI: Private airport operators are seeking immediate financial assistance from the government in order to sustain operations and prevent job losses in the sector. Airports are currently not generating sufficient cash flows to sustain operations and meet their debt obligations. Poor cash flows and, consequently, downgraded credit ratings have made it impossible for airports […]
LPG subsidies cut steeply in FY21, down to nil for many
CHENNAI: Not only have taxes on auto fuels been hiked massively over the past year, direct benefit transfers (DBT) of cooking gas subsidies have been reduced to nil for many domestic LPG subscribers not covered by the PM Ujjwala Yojana scheme. The result has been a steady increase in daily costs for low-and-middle-income Indian households […]
Master Plan of Delhi 2041: Greener environment, 24-hour city, vibrant economy! Check the proposal
Master Plan of Delhi 2041: The national capital is all set to undergo a massive renovation! A vibrant economy, greener environment, rejuvenation of the city’s heritage areas, enhance mobility promoting cleaner fuels are among the key areas encompassed in the draft Master Plan of Delhi 2041. The draft Master Plan of Delhi (MPD) 2041 has […]
Highway construction’s pace bulldozes pandemic barriers! Sets new record
Despite the pandemic-induced lockdown and restrictions on mobility in large parts of the country, highway construction grew by 74% on year in April-May of the current financial year to 1,470 km or 24.1 km/day. Of course, the sharp year-on-year growth is on a low base (14.1 km/day in April-May 2021), but even in comparison to […]
Petronet shelves $2.5 billion Tellurian deal, looks for supplies from Qatar
An initial non-binding agreement for Petronet LNG Ltd to invest USD 2.5 billion in US energy upstart Tellurian’s LNG project in Louisiana in return for gas supplies for 40 years has lapsed, the CEO of the Indian firm said on Wednesday. The deal, which was signed during Prime Minister Narendra Modi’s visit to Houston in […]
GAIL net profit jumps 28 pc in Q4
State-owned gas utility GAIL (India) on Wednesday reported 28 per cent jump in March quarter net profit as petrochemical margins soared and gas marketing business turned around on rise in international prices. Net profit in January-March at Rs 1,907.67 crore is compared with Rs 1,487.33 crore net profit in the same period a year ago, […]
GAIL profit falls 35% to Rs 6,143 crore in FY21
State-run gas transporter GAIL’s net profit fell 35.4% year-on-year (y-o-y) to Rs 6,142.8 crore on a consolidated basis in the fiscal ended March, as the natural gas marketing business — GAIL’s largest revenue earner — reported a loss of Rs 435.4 crore against a profit of Rs 2,639 crore in the corresponding period a year […]
Jaypee Infra: Market value of Yamuna e-way higher than liquidation value, says NBCC
NBCC, in a letter to the committee of creditors (CoC) of Jaypee Infratech (JIL) on Wednesday, said the fair market value (FMV) of Yamuna Expressway is higher than the liquidation value projected. The state-run company emphasised assenting financial creditors (AFCs) can realise up to Rs 4,000 crore for the 90% stake in the e-way SPV […]
Deal undone: Petronet & Tellurian’s $2.5-billion pact shelved
A planned $2.5-billion deal between Tellurian Inc and India’s largest gas importer Petronet LNG has fallen through as the US-based firm hasn’t made any request to continue interactions after December 2020, Petronet MD and CEO Akshay Kumar Singh said on Wednesday. “The (Tellurian) MoU has not been extended”, Singh said, adding that “as on today […]