The government will sell up to a 7 per cent stake in NLC India at a floor price of Rs 212 per share in a two-day offer for sale beginning Thursday. The Rs 2,000 crore OFS will open for institutional investors on Thursday and for retail investors on Monday. Friday is a market holiday on […]
Day: March 7, 2024
IGL shares to react to this price announcement; check here
Investors will closely watch the shares of Indraprastha Gas Ltd on Thursday, March 7, after the company announced its decision to cut gas prices in Delhi. Indraprastha Gas, on Wednesday, March 6, reduced the prices of compressed natural gas (CNG) in the national capital by Rs 2.5 per kilogram. With this, the cost per kilogram […]
India remains cautious on contracted Russian oil as new US sanctions bite
xIndia’s state-run oil refiners are shying away from contracted Russian crude supply as the once-booming trade becomes much harder under tighter enforcement of US sanctions. The biggest state-owned refiner Indian Oil Corp. will likely reduce the amount of crude received under so-called term supply, while Bharat Petroleum Corp. and Hindustan Petroleum Corp. have decided against […]
Opec expects to reclaim share of Indian imports eroded by Russian supplies
OPEC is set to win a bigger share of India’s oil imports in coming decades due to the proximity of its supplies, the producer group’s head told Reuters, after its dominance was recently eroded by competition from discounted Russian oil. The share of oil from the Organization of the Petroleum Exporting Countries (OPEC) imported by […]
IOC to become first Indian firm to manufacture fuel for Formula 1 cars
Indian Oil Corporation Ltd (IOC) – the nation’s top oil firm – will in three months start manufacturing fuel used in adrenaline-pumping Formula One or F1, motor racing as it looks to expand its basket of niche fuels. IOC, which already has three branded fuels, including high-selling XtraGreen diesel, on Wednesday unveiled ‘Storm’ petrol that […]
Monthly natural gas trades up 17% in Feb due to fall in global prices: IGX
A significant fall in the global natural gas prices led to the monthly gas volumes traded on the India gas exchange (IGX) rising by 17 per cent to touch 6.13 million metric million British thermal unit (mmBtu) in February, the company said on Wednesday. Traded volumes were up 3.24 times on a sequential basis. Meanwhile, […]
Mahanagar Gas slumps 16% as Citi downgrades stock to ‘sell’
Shares of Mahanagar Gas plunged 15.7 per cent to Rs 1,318.9 apiece on the BSE in Wednesday’s intraday trade after global brokerage Citi downgraded the stock to ‘Sell’ from ‘Buy’. According to reports, the brokerage believes city gas distribution companies, such as MGL, stand vulnerable to regulatory changes, wherein the government would want consumers to […]
Adani Group in discussions to offer $1.2 billion more bonds by June
Billionaire Gautam Adani’s conglomerate is considering offering another $1.2 billion of dollar bonds by June, people familiar with the matter said, fresh off a note issuance this week that was also part of plans to raise at least $2 billion in mostly new debt this year. The group’s renewable energy unit Adani Green Energy Ltd. […]
IAEA chief in Russia to discuss safety of Ukrainian nuclear plant
The U.N.’s atomic watchdog agency chief is visiting Russia amid concern about a Ukrainian nuclear power plant caught in the crossfire since Moscow sent troops into Ukraine in 2022 and seized the facility shortly after. IAEA Director-General Rafael Mariano Grossi arrived at the Black Sea resort of Sochi on Tuesday evening, according to Russian state […]
Uttar Pradesh govt to rake in Rs 80K crore through solar energy push
The Uttar Pradesh government has set an ambitious target of producing 22,000 megawatt (MW) through a slew of solar energy projects by 2027, a move that is expected to rake in investments to the tune of Rs 80,000 crore. The Yogi Adityanath government is planning installations of rooftop solar plants and solar parks to achieve […]
Flight ops from Dehradun to Ayodhya, Varanasi, Amritsar start today
Chief Minister Pushkar Singh Dhami inaugurated the flight operations from Dehradun to these three major cities The three services were launched from Dehradun’s Jolly Grant Airport on Wednesday. CM Dhami inaugurated the event by lighting a lamp and cutting a cake. Speaking on the occasion, the Chief Minister said, “We endeavour to make moving the […]
Non-availability of pilots impact flight operations of Vistara: Report
Flight operations of Vistara were impacted at Delhi and Mumbai airports, mainly due to the non-availability of pilots, according to industry sources. Some flights were cancelled and many were delayed at the two airports on Wednesday, they said. Specific details could not be immediately ascertained and there was no comment from Vistara. The full-service carrier […]