CHENNAI: State-run oil explorer Oil and Natural Gas Corporation (ONGC) has stuck to paying taxes under the old corporate tax regime due to a “substantial” amount of unutilised MAT tax credit available. A switch to the new tax regime, which offers a corporate income tax rate of 22 per cent, would require the company to […]
Day: June 29, 2021
With debt pared, on track to achieve Rs 70k-crore renewables target by 2030: Prashant Jain, Joint MD, JSW Energy
Reliance Industries’ gigafactories will be a game changer for power generation companies like JSW Energy, and will change the dynamics of the sector, given the cost and price competitiveness of solar panels produced, according to Prashant Jain, joint MD of JSW Energy. Jain tells Vikas Srivastava the company will source solar panels from RIL as […]
Power reforms: States can borrow Rs 1.1 lakh crore extra in FY22
Finance minister Nirmala Sitharaman said on Monday that states have been allowed Rs 1,05,864 crore of additional borrowing in FY22 as a part of the credit leeway announced in May 2020. “States have already been allowed additional borrowing for four years (starting FY22) up to 0.5% of GSDP annually subject to carrying out specified power […]
Govt to formulate streamlined approval process for PPP projects, core infra asset monetisation
Finance Minister Nirmala Sitharaman on Monday said new streamlined approval process for PPP projects and monetisation of core infra assets will be formulated, which will help fast-track asset monetisation by CPSEs. Announcing a set of economic relief measures, she said the current process was long and required multiple approvals for public private partnership (PPP) projects.
Special court denies bail to ex-IL&FS chairman Ravi Parthasarathy
A special court has denied bail to Ravi Parthasarathy, former Chairman of the bankrupt Infrastructure Leasing and Financial Services (IL&FS) and arrested by the Economic Offences Wing of state police, for allegedly defrauding investors to the tune of Rs 200 crore. Parthasarathy was refused bail recently by the Special Court constituted under the Tamil Nadu […]
Crude oil falls nearly 2% ahead of OPEC+ talks
NEW YORK: Oil prices fell nearly 2% on Monday after hitting their highest since 2018 earlier in the session, as a spike in COVID-19 cases in Asia and Europe put a brake on the rally before this week’s OPEC+ meeting. Brent futures fell $1.33, or 1.8%, to $74.85 a barrel by 12:44 p.m. EDT (1644 […]
Oil falls as flare-ups of COVID-19 variant threaten fuel demand
MELBOURNE: Oil prices slipped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious COVID-19 variant Delta sparked new mobility restrictions around the world. U.S. West Texas Intermediate (WTI) crude futures fell 14 cents, or 0.2%, to $72.77 a barrel at 0045 GMT, extending a 1.5% […]
Tata Power shares up 1.45% as Sensex falls
Shares of Tata Power NSE 0.73 % Company Ltd. gained 1.45 per cent to Rs 122.85 in Monday’s session as of 12:14PM (IST) even as the equity benchmark Sensex traded 139.86 points lower at 52785.18. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high […]
HPCL shares drop 0.02% as Sensex falls
Shares of Hindustan Petroleum Corporation Ltd. traded 0.02 per cent down at Rs 297.9 at 01:00PM (IST) on Monday, even as BSE benchmark Sensex dropped 119.04 points to 52806.0. The stock had closed at Rs 297.95 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 312.0 and Rs 163.3, […]
Power Finance Corp. shares rise 0.32% as Nifty gains
Shares of Power Finance Corporation Ltd. traded 0.32 per cent up at Rs 124.55 on Tuesday at around 10:41AM (IST), while the benchmark BSE Sensex declined 185.61 points to 52549.98. As many as 51,850 shares changed hands on the counter with a total value of Rs 0.65 crore. The stock quoted a 52-week high price […]
IGL shares gain 0.98% as Sensex falls
Shares of Indraprastha Gas Ltd. traded 0.98 per cent up at Rs 538.05 at 10:26AM (IST) on Tuesday, even as BSE benchmark Sensex dropped 115.52 points to 52620.07. The stock had settled at Rs 532.85 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 594.85 and Rs 364.3, respectively. […]
SpiceJet plans to raise funds; shares gain over 2%
NEW DELHI: No-frills carrier SpiceJet NSE 2.51 % plans to raise funds through issuance of equity shares or debt instruments and the proposal will be discussed at its board meeting on Wednesday. The proposal comes at a time when the airline industry is grappling with strong headwinds due to the coronavirus pandemic that has also […]