In a major setback to GoAir’s plans to go public, market regulator SEBI has halted the carrier’s IPO process by up to 90 days. The notification on SEBI’s website did not specify any reason for putting these approvals on temporary hold but showed that the IPO application submitted by GoAir has been “kept in abeyance”. […]
Day: June 29, 2021
Saudi Aramco seeks financing advisor for gas pipeline deal -sources
Saudi Aramco has invited banks to pitch for an advisory role to help finance the sale of a significant minority stake in its gas pipelines, the oil giant’s second major midstream deal after a $12.4 billion deal for oil pipelines, three sources said. Aramco has already hired Morgan Stanley as an M&A advisor and the […]
Power department privatisation back on as SC stays Punjab and Haryana high court order
In a major relief for the UT administration, the Supreme Court has stayed the Punjab and Haryana high court’s May 28 order in which it had stayed its power privatisation process. The HC order had come on the application filed by Gopal Dutt Joshi, general secretary, UT Powermen Union. The administration had then moved the […]
ONGC’s improved earnings outlook for 12-18 months to support deleveraging
Rating agency Standard and Poor’s on Tuesday said state-owned Oil and Natural Gas Corporation Ltd’s (ONGC) improved earnings outlook for the next 12-18 months will support deleveraging. “We expect the India-based company to benefit from favorable crude oil prices over FY22 (year ending March 31, 2022),” S&P said in a statement. “It is rated at […]
Assam power department collected Rs 12 crore fine last month
The Assam power department has collected nearly Rs 12 crore as fine from different stakeholders/ factories/ individuals in the past one month for non-payment of electricity consumption bill. The state has been incurring a loss of around Rs 300 crore every month due to non-payment of electricity consumption bill by various stakeholders/ individuals/ factories and […]
Ahead of talks, OPEC forecasts point to oil supply deficit in August
OPEC’s forecasts point to an oil supply deficit in August and in the rest of 2021 as economies recover from the pandemic, suggesting the group and its allies have room to raise output at a meeting this week. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, is returning 2.1 million barrels […]
Telangana govt plans more hydel power plants
HYDERABAD: The Telangana government is planning to construct more hydel power plants at barrages proposed across rivers. It intends to tap 320 MW power at Dummugudem barrage and 40 MW to 60 MW power at Sammakka barrage. Hydel power component will also be examined at the proposed barrage across Krishna near Alampur. “The quantum of […]
Technical snag shuts five units at Rengali Hydroelectric Project
ANGUL: Power generation from the Rengali Hydroelectric Project in the district has stopped since Saturday due to a major technical snag. The fault was detected in unit 4 of the power plant but all five units were shut due to safety reasons. As per official sources, the power plant was in operation on June 26 […]
Arvind Kejriwal promises free electricity in Punjab if AAP wins
NEW DELHI: Ahead of assembly elections in Punjab next year, Delhi Chief minister Arvind Kejriwal on Monday promised free electricity in that state if his Aam Aadmi Party wins the polls. A day ahead of his visit to Chandigarh, the AAP leader also claimed that women in Punjab are very unhappy with inflation.
Kochi airport launches Rapid PCR testing facility for passengers, results to be out in 30 minutes
KOCHI: The Cochin International Airport (CIAL) has set up a Rapid PCR testing facility for passengers visiting the UAE following an advisory by the Dubai Supreme Committee of Crisis and Disaster Management that a COVID-negative certificate obtained before 48 hours of the journey is mandatory to travel to the Gulf country. A press communique released […]
International flight operations from V’wada airport to start next month
VIJAYAWADA: With the extended runway likely to come into operational from July 15, Vijayawada International Airport near Gannavaram is gearing up to start international flights. Air India is planning to run direct services between Muscat and Vijayawada once a week or thrice from the first week of July, and increase the services based on demand. […]
Stimulus package: Rs 3 lakh crore result-linked scheme for power companies
NEW DELHI: Union Minister of Finance Nirmala Sitharaman announced on Monday an allocation of Rs 3.03 lakh crore towards a revamped reform-based result-linked power distribution scheme. The announcement came as part of the government’s fresh stimulus package for the economy, which was announced by the finance minister.