On the back of better price realisations from its customers, JSW Energy has reported a good year, and is carrying the momentum to the next fiscal with plans of reviving its hydro power project in Himachal Pradesh. JSW Energy, a part of the JSW Group, has reported net profit of ₹4 crore in the March-ended […]
Category: Business Line
Business Line
Ather Energy to set up 55 charging stations in Chennai
Ather Energy, an electric vehicle company, announced the installation of its fast charging network Ather Grid in Chennai. The city will see 50-55 Ather Grid points up and running by the end of the year. The fast charging network can be used by all electric two- and four-wheelers, and will be offered free of charge […]
Peak power demand in Delhi to cross 7,400 MW
Delhi’s peak power demand is expected to cross 7,400 MW during this summer. To meet the demand, power distribution companies in Delhi have been ramping up capacities. “To strengthen the distribution network, BSES discoms invested a capital expenditure of over ₹800 crore in financial year 2018-2019 and ramped up the network capacity by around 750 […]
Nuclear power is safe and can meet increasing energy demand: Vice President M Venkaiah Naidu
Vice President M Venkaiah Naidu has said that nuclear electricity could significantly reduce greenhouse gas emissions and has the potential to meet the increasing energy demand in the country. During his visit to the Atomic Minerals Directorate for Exploration and Research (AMD) in Hyderabad today, he said that climate change was one of the foremost […]
Jet-powered flying taxi unveiled following first flight
The world’s first all-electric vertical take-off and landing passenger jet has been unveiled after completing its first flight. German startup Lilium aims to have a fleet of the five-seat aircraft — which can operate with a pilot or in drone mode — flying in cities worldwide by 2025, providing a pay-per-ride service that will be […]
IndiGo CEO writes to staff, says growth strategy is unchanged
CEO Ronojoy Dutta wrote the email to employees after there were various media reports alleging disagreements between the airline’s two promoters — Rahul Bhatia and Rakesh Gangwal. The growth strategy of IndiGo remains unchanged and the airline’s management has full backing of the company’s board of directors to implement it, said Ronojoy Dutta, CEO, InterGlobe […]
As gulf between promoters widens, IndiGo could be headed to NCLT
The rift between the promoters of IndiGo could snowball into a legal spat with strong disagreements emerging on the way forward for the airline. According to experts familiar with corporate disputes, the case could end up at the National Company Law Tribunal (NCLT) if the dispute is about the shareholders’ agreement or related to corporate […]
Jet lenders to examine past charges of fraud against Darwin founder
Lenders of Jet Airways are examining past allegations of fraud against the founder of Darwin Platform Group Company, which has offered to infuse Rs. 14,000 crore in the airline. At least four cases had reportedly been registered against Ajay Harinath Singh, the founder of Darwin, which claims to have a net worth of Rs. 24,000 […]
InterGlobe Aviation shares tank nearly nearly 9 per cent amid reports of rift between promoters
Shares of InterGlobe Aviation Limited dropped nearly 9 per cent on Thursday amid reports of rift between promoters of IndiGo. The scrip tumbled 8.82 per cent to close at Rs 1,466.60 on the BSE. During the day, it tanked 9.82 per cent to Rs 1,450.50. At the NSE, shares plummeted 8.40 per cent to close […]
Amid flight of executives, SBI may seek court-appointed receiver to run Jet Airways
With the top management of Jet Airways resigning en masse, State Bank of India, the lead lender to the airline, may seek to appoint a court-appointed receiver to manage the affairs of the debt-ridden company. “As bankers do not have the capability to run the airline, there has been a request to appoint a receiver. […]
Oil prices fall as US stockpiles rise, but West Asia tensions support
Brent crude futures were at $71.06 a barrel at 0646 GMT, down 18 cents, or 0.3 per cent, from their last close. Oil fell on Wednesday after data showed a surprise rise in US crude stockpiles and as Chinese industrial output grew less than expected in April, but prices were supported by mounting tensions in […]
Oil extends gains into third session amid West Asia tensions
Crude stocks swelled by 5.4 million barrels, surprising analysts who had expected a decrease of 800,000 barrels Oil prices edged up on Thursday to extend gains into a third straight session, as tensions in West Asia stoked fears of potential disruptions to supply. Brent crude futures were at $72.04 a barrel at 0110 GMT, up […]