Adani Electricity Mumbai Ltd on Thursday signed an agreement to acquire 100 per cent stake in Pointleap Projects Pvt Ltd (PPPL) for a consideration of Rs 13.15 crore. Adani Electricity Mumbai Limited (AEML) is a subsidiary of Adani Energy Solutions Ltd (AESL). “AEML today executed Share Purchase Agreement (SPA) with Windson Projects LLP (WPLLP) for […]
Month: May 2024
Share of Russian crude in India’s imports rises to nearly 40% in April
Russia increased its share in Indian crude oil imports to nearly 40% in April from 30% in March, closing in on its all-time peak of 42% last July, as higher global oil prices pushed Indian refiners to increase intake of discounted Russian barrels to reduce their average crude purchase cost. Indian refiners imported 1.78 million […]
BHEL up 7%, hits 12-year high on pact with HIMA for railway signaling biz
Shares of Bharat Heavy Electricals (BHEL) hit a 12-year high of Rs 300.20 a piece, as they rallied 7 per cent on the BSE in Thursday’s intra-day trade after the company on Tuesday announced that it has entered into a strategic partnership with HIMA Middle East FZE, Dubai for railway signalling business. The stock is […]
Blaze in NTPC’s superthermal power plant in Jharkhand: NGT issues notice
The National Green Tribunal has sought a response from the authorities, including the administrative head of NTPC’s North Karanpura superthermal power plant in Jharkhand’s Chatra district, regarding the massive fire that engulfed a unit last month. The National Green Tribunal (NGT) was hearing a matter where it had taken suo motu cognisance of a PTI […]
Indian Oil resumes buying Russian crude oil delivered on Sovcomflot ships
Indian Oil Corp. resumed buying Russian crude oil delivered on a tanker owned by Sovcomflot PJSC this week, paving the way for a restoration of oil flows between Russia and India, after tightened US penalties had disrupted shipments. Suezmax tanker Vladimir Tikhonov discharged around 1 million barrels of Russian flagship Urals crude at Paradip port, […]
HPCL, BPCL, IOC stocks rally up to 4% as oil dips on ME ceasefire hopes
Shares of oil marketing companies (OMCs) gained up to 4 per cent on the BSE in Thursday’s intra-day trade as crude oil prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East (ME). That apart, rising crude inventories and production in the US, the world’s biggest […]
Tripura government imposes restrictions on sale of petrol and diesel
The Tripura government has imposed restrictions on sale of petrol and diesel from Wednesday. Why are restrictions imposed? A massive landslide in Assam’s Jatinga region has disrupted the goods train movement to Tripura, leading to the fuel shortage. Passenger train movement started on April 26 after restoration work. However, train service through Jatinga still remains […]
Power consumption rises 11 pc to 144.25 billion units in April
India’s power consumption rose around 11 per cent to 144.25 billion units (BU) in April as compared to the year-ago period, mainly due increase in temperatures. In April 2023, the power consumption stood at 130.08 BU, a government data showed. The highest supply in a day (peak power demand) also rose to 224.18 GW in […]
Petrol sales up 12.3 pc; diesel slides 2.3 pc in Apr
India’s petrol consumption soared 12.3 per cent in April, but diesel sales continued to slide despite the country entering into hectic electioneering for general elections, preliminary data of state-owned firms showed on Wednesday. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, rose to 2.97 million tonnes in April […]
IndiGo gets tax demand related to input tax credit
IndiGo has received a tax demand following the rejection of an input tax credit that was availed by the company in 2018-19. In a regulatory filing on Wednesday, the company said it has received a “demand of Rs 31,240, including tax of Rs 21,240 and penalty of Rs 10,000 for the FY 2018-19”. The demand […]
India among top 5 developing countries in aviation emissions in 2019, study finds
In 2019, India was among the top five economically developing countries in terms of carbon dioxide (CO2) emissions from aviation, a new research has found. Calculating “nearly real-time” aviation emissions using global flight data, researchers found that overall, the US, China and Great Britain were the topmost contributors, with 22 per cent, 14 per cent […]
Avaada Energy secures Rs 1,190 crore loan from SBI for solar project
Avaada Energy on Thursday said that it has secured Rs 1,190 crore loan for a new solar project in Gujarat from the State Bank of India. The financing, sanctioned and disbursed as a 20-year project loan facility, will support the development of a 400 MWp utility-scale solar PV power project in the Surendra Nagar district […]