NEW DELHI: With its IPO possibly delayed by a few months, struggling airline GoAir may have to look at alternative routes to raise funds. The airline’s net balance was almost negligible as of April 2021 and it had a debt of Rs 2,956 crore. “This could make things difficult as it was relying heavily on […]
Day: June 30, 2021
After Cairn, Devas sues Air India to recover $1.5 billion award
MUMBAI: Shareholders in Devas Multimedia have sued Air India in an effort to recover sums Devas won in arbitration awards against the Indian government and seize its flagship carrier’s foreign assets, according to a US district court filing. The shareholders said Devas and its affiliates were owed more than $1.5 billion by the government. Describing […]
Punjab Election 2022: AAP promises free electricity up to 300 units; all old unpaid bills to be waived off
Aam Aadmi Party (AAP), which is the main opposition party in Punjab, has promised that it will provide free electricity upto 300 units in the state along with ensuring 24 hours power supply without any cuts if it is elected to power in the elections scheduled to be held next year. It also said that […]
RPower begins equipment exports from its Samalkot project to Bangladesh project to cut debt
Reliance Power has started the export of power equipment from its Samalkot project in Andhra Pradesh to its Bangladesh project, a move that will help the company pare debt of nearly Rs 1,500 crore. Reliance Power has sold the Module 1 of the gas-based power equipment, which has a capacity of 750 MW, to the […]
RIL to invest in Abu Dhabi’s mega petrochem project; report says Mukesh Ambani may pump in $1.5 billion
Billionaire Mukesh Ambani’s Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta’ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu […]
Jet Airways’ seven-member monitoring committee meets
Jet Airways constituted a seven-member monitoring committee to supervise the defunct airline till the implementation of its resolution plan on June 28, and the panel held its first meeting the same day, the company said in a stock exchange filing on Tuesday. The seven members include three nominated by successful bidders, three by the financial […]
RIL-Adnoc pact to build Abu Dhabi petchem hub
Reliance Industries (RIL) has announced a joint venture with Abu Dhabi National Oil Company (Adnoc) to build a petrochemical production facility in Abu Dhabi. The two companies “will construct an integrated plant, with capacity to produce 940 thousand tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride and 360 thousand tons of polyvinyl chloride (PVC) […]
Suzlon Energy loss narrows to Rs 54 cr in March quarter
Suzlon Energy’s consolidated net loss narrowed to Rs 54.25 crore in the quarter ended March 31, 2021 mainly on the back of higher revenues. The consolidated net loss of the company was at Rs 834.22 crore in the quarter ended March 31, 2020, according to a regulatory filing. Total income rose to Rs 1,141.15 crore […]
Reliance Power begins equipment exports from its Samalkot project to Bangladesh project to cut debt
Reliance Power NSE 5.00 % has started the export of power equipment from its Samalkot project in Andhra Pradesh to its Bangladesh project, a move that will help the company pare debt of nearly Rs 1,500 crore. Reliance Power has sold the Module 1 of the gas-based power equipment, which has a capacity of 750 […]
AAP promises free power in Punjab
Aam Aadmi Party started its election campaign in Punjab with a poll promise of free electricity on the lines of that made available in Delhi by the party’s government. Delhi chief minister Arvind Kejriwal made this announcement in Chandigarh on Tuesday, saying electricity in Punjab is the costliest in the country despite the state being […]
Oil prices climb for second day after US stockpiles fall
TOKYO: Oil prices on Wednesday extended the previous day’s small gains after an industry report showed U.S. crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as COVID-19 cases surge. Brent crude was 42 cents, or 0.6% at $75.16 a barrel by 0122 GMT, after edging higher on […]
Share price of Petronet LNG falls as Sensex drops 164.71 points
The share price of Petronet LNG NSE 0.11 % Ltd. dropped 0.88 per cent to Rs 225.95 at 12:24PM (IST) in Tuesday’s trade. The counter has hit a high of Rs 228.8 and low of Rs 225.6 so far during the session. The stock had closed at Rs 227.95 in the previous session. The counter […]