Petronet LNG has reported a ₹440-crore profit for the fourth quarter of financial year 2018-2019. This is 15.87 per cent lower than the ₹523 crore bottom-line reported by the company in the same quarter of the last financial year. The company’s board of directors has recommended a 45 per cent dividend at ₹4.5 for each […]
Category: Business Line
Business Line
Russia keen to join OPEC+ output hike
Russia will join the OPEC+ talks this weekend having barely fulfilled its pledged production cuts, but keen to secure a share of any potential output increase. “In recent months, Russia has indicated it would welcome a return to production growth,” said analysts from Fitch Ratings Inc. and IHS Markit Inc. That is back on the […]
Panasonic eyes ₹700 crore from battery storage business by 2021
Panasonic India is targeting ₹ 700 crore business from battery and charging by 2021 when it expects the overall market to be about ₹5,000 crore. The current market is around ₹1,500 crore. Simply put, what it has done in five years, it proposes to do in two years. The company has achieved a cumulative turnover […]
Torrent Power Q4 net down 88%
Torrent Power on Wednesday reported over 88 per cent fall in its consolidated net profit at Rs 25.80 crore for the quarter ended March 2019 as compared toRs 221.25 crore in the year-ago period. Torrent Power’s total income rose slightly to Rs 2,964.65 crore in the March quarter from Rs 2,909.12 crore in the corresponding […]
SpiceJet, IndiGo rise as Jet Airways falls further
Jet Airways shares fell as much as seven per cent after key management exits on Tuesday, while shares of rivals SpiceJet rose as much as 10 per cent and IndiGo owner Interglobe Aviation up four per cent. The debt-ridden Jet’s troubles present opportunities to rivals, who are rushing to fill supply gaps. Jet’s market share […]
Jet Airways sinks after top executives quit
Shares of Jet Airways Limited fell as much as 6.05 per cent on Wednesday, a day after its chief executive and two other senior executives stepped down, raising serious doubts over the revival of the debt-laden airline. Chief Executive Officer (CEO) Vinay Dube, head of finance Amit Agarwal and head of human resources Rahul Taneja […]
With no viable offers in hand, Jet lenders turn to unsolicited bids
The scramble to save Jet Airways has led its lenders to explore unsolicited offers made by multiple entities, including UK-based entrepreneur Jason Unsworth, Mumbai-based Darwin Platform Group, London-based AdiGro Aviation and Russian aviation professional Oleg Evdokimov. It is also considering a takeover proposal from a group of minority shareholders and Jet employees. Under the plan,called […]
Rothschild withdraws from advising Adani on Australia project
Reuters Rothschild & Co has decided not to advise Adani in the financing or development of the $4-billion Carmichael coal mine in Queensland, Australia, a letter from the bank to an environmental group said. The bank is also not advising the firm on the planned sale of stake in the Abbot Point Coal export terminal, […]
Crude oil rises over drone attacks on Saudi pump stations
Crude oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in West Asia tensions after tankers were hit by sabotage over the weekend. Futures rose 1.2% in New York, reversing Monday’s drop. Unidentified drones attacked two pumping stations belonging to Saudi Aramco, forcing the oil company to suspend operations in […]
Oil prices ease on surprise rise in US stockpiles, West Asia tensions support
Oil eased on Wednesday after closely watched data showed a surprise rise in United States (US) crude stockpiles, but prices were supported by mounting tensions in West Asia. Brent crude futures were at $70.90 a barrel at 0100 GMT, down 41 cents, or 0.7 per cent, from their last close. Brent closed up 1.4 per […]
MCX crude options register turnover of ₹716 crore
MCX recorded the highest-ever turnover of ₹716 crore in its crude oil options contract on Monday. A year after its launch, the contract logged an increase of 226 per cent in average daily volume and 195 per cent in average daily turnover in May. The European-styled crude oil option is based on the underlying MCX […]
Next government to decide on import of oil from Iran
Iran’s Foreign Minister Mohammad Javad Zarif met External Affairs Minister Sushma Swaraj on Tuesday in New Delhi to discuss bilateral issues, including the fallout of the US decision last month to discontinue the sanction waivers given to eight countries, including India, for continued purchase of oil from the country. Zarif, who reiterated that India was […]