Government oil marketing companies on Wednesday slashed prices of commercial LPG gas cylinders by Rs 19 with immediate effect. The retail sales price of a 19 kg commercial LPG cylinder would be now Rs 1745.50 in Delhi, reported ANI, citing sources. Last month, the price was cut by Rs 30.50 for a 19-kg commercial cylinder […]
Day: May 1, 2024
26 companies queue up for KSK Mahanadi power project
New Delhi: JSW Energy, Jindal Power, Adani Power, Swan Energy, Vedanta, Coal India and NTPC are among 26 companies that have shown interest in acquiring debt-ridden 1,800 MW KSK Mahanadi power project. People aware of the development told ET that some funds have also shown interest in acquiring the plant, which is undergoing a fresh […]
SC dismisses L&T plea over Sharavathi tendering process
The Supreme Court on Monday rejected Infrastructure Company Larsen & Toubro’s Special Leave Petition (SLP) challenging the tendering process for the prestigious Sharavathi Pumped Storage project. “We are not inclined to entertain the Special Leave Petition under Article 136 of the Constitution of India,” the top court said.
Sterlite Power bags projects worth Rs 2,500 crore in Q4
Sterlite Power on Tuesday announced securing new orders worth Rs 2,500 crore during the quarter ended March 31. This takes the company’s cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement. “Sterlite Power has capped off a successful fiscal year FY24 […]
BHEL partners HIMA West Asia FZE, Dubai for railway signalling business
State-owned engineering firm Bharat Heavy Electricals (BHEL) on Tuesday announced that it has entered into a strategic partnership agreement with HIMA West Asia FZE, Dubai for railway signalling business. HIMA is the world’s leading solution provider for safety-related automation in the railways and process industries, a regulatory filing said. According to the filing, the BHEL […]
Commercial LPG cylinder price reduced by Rs 19; Here are the revised rates
Oil marketing companies cut prices of commercial LPG gas cylinders by Rs 19 with immediate effect from May 1. With this, Delhi retail sales price of 19 kg commercial LPG cylinder stood at Rs 1,745.50. This follows similar reductions in other metro cities across India. State-backed oil marketing companies (OMCs) slashed the prices of commercial […]
Oil prices decline for third day as US crude production, inventories swell
Oil prices fell for a third day on Wednesday on rising crude inventories and production in the US, the world’s biggest oil consumer, along with increasing hopes of a ceasefire agreement in the Middle East. Brent crude futures for July fell 47 cents, or 0.5 per cent, at $85.86 a barrel by 0005 GMT. US […]
Govt cuts windfall tax on petroleum crude to Rs 8,400 per MT from May 1
India has cut its windfall tax on petroleum crude to 8,400 Indian rupees ($100.66) a metric ton from 9,600 rupees with effect from May 1, the government said on Tuesday. The tax, which is revised every fortnight, was left unchanged at zero for diesel and aviation turbine fuel. The government had on April 16 raised […]
Indian Oil Q4FY24 results: Net profit shrinks 50% to Rs 5,149 crore
During the fourth quarter of FY24 (January-March 2024), state-run Indian Oil Corporation (IOCL) saw its consolidated net profit fall 49.3 percent to Rs 5,149 crore from Rs 10,290 crore in Q4 of FY23. On a sequential basis, net profit slipped 43 per cent from Rs 9,030 crore. The sharp fall in net profit during Q4 […]
BP appoints Kartikeya Dube as India head, to replace Mukundan from July 1
BP on Tuesday announced the appointment of Kartikeya Dube as the new India head, replacing long-time executive Sashi Mukundan who is retiring. In a statement, the company said Dube has been appointed Head of Country (HoC) and senior vice president (gas and low carbon) for India with effect from July 1, 2024. “Sashi Mukundan, who […]
Adani Total Gas Q4 result: Profit up 72% at Rs 1.68 bn on higher CNG sales
India’s Adani Total Gas reported a 72% surge in fourth-quarter profit on Tuesday, helped by strong demand in its compressed natural gas (CNG) segment. Consolidated profit rose to Rs 16.8 crore ($20.14 million) in the three months ended March 31 from Rs 97.91 crore a year earlier, marking a fifth straight rise in quarterly profit […]
Adani Total Gas Q4 results: Profit rises 59% to Rs 165 cr, revenue up at 5%
Adani Total Gas Ltd, the city gas retailing joint venture of Adani group and TotalEnergies of France, on Tuesday reported a 59 per cent rise in March quarter net profit on the back of a surge in CNG sales volumes. The company posted a net profit of Rs 165 crore in the January-March period as […]