India missed the pre-Covid opportunity in pushing up domestic manufacturing of solar gears. Safeguard duty imposed in 2018 did bring temporary relie, but for a more sustainable solution in the post-Covid world, India must consider other options. As a step in this direction, the country should start with removing the tax barrier for domestic sales […]
Category: Business Line
Business Line
EPAL emerges top in Grant Thornton-CII tracker
With EPAL (EESL’s JV in the UK) emerging as the fastest growing Indian company in the “India meets Britain Tracker 2020”, home grown energy services company Energy Efficiency Services Ltd (EESL) has set a global precedent in low carbon development. The tracker was developed by the Confederation of Indian Industry and Grant Thornton. EPAL (EnergyPro […]
NTPC: Call options spread may benefit conservatives
The long and medium-term outlook for NTPC (₹97.85) will be negative, as long as the stock rules below ₹145. After the recent bounce back from ₹73, the short-term outlook had turned positive for NTPC. While the immediate resistance appears at ₹104, NTPC finds a major resistance at ₹118. On the other hand, it finds an […]
IndiGrid to buy Jhajjar KT Transco for Rs 310 crore
IndiGrid has entered into a share purchase agreement to buy out power transmission line operator Jhajjar KT Transco Private Limited for Rs 310 crore. Jhajjar KT Transco is owned by Kalpataru Power Transmission Ltd and Techno Electric & Engineering Company (TEECL). The acquisition is subject tocertain adjustments on account of assets and liabilities at the […]
Dues from discoms land Easun Reyrolle in NCLT
Power transmission components manufacturer, Easun Reyrolle, has wound up in the insolvency courts. Following the expiry of the deadline for submitting bids against a public notice calling for bids, the Resolution Professional, Benegal Parameshwara Udpa, will call for a meeting of the Committee of Creditors to take the issue further. State Bank of India claims […]
Finally, chartered flights for crew swap are approved
In a major breakthrough, the government has allowed ship and crew managers to send and bring back Indian seafarers on chartered flights to facilitate staff swap on board ships at foreign ports. The approval, which came late in the evening on Saturday, will help thousands of Indian seafarers sign off or join ships at overseas […]
A 189-seater SpiceJet plane flew from Chennai to Colombo with seafarers
A 189-seater SpiceJet plane with 22 Indian seafarers and one manager of SeaTeam Management (India) Pvt Ltd flew from Chennai to Colombo today in the costliest crew joining plan undertaken since the pandemic halted staff swap on board ships globally. From Colombo, these 22 crew and the new shipbuilding site manager stationed in South Korea […]
BIAL hikes User Development Fee by 17 per cent
Bangalore International Airport Limited (BIAL), operator of Kempegowda International Airport, has increased the User Development Fee (UDF) rates by 17 per cent. A statement from BIAL said, “In response to the direction, Airports Economic Regulatory Authority (AERA) issued an order on May 26, 2020, allowing BIAL to increase Landing Charges and UDF for FY 2020-21 […]
Pandemic pain: Output of 8 core sectors contracts 38.1% in April
As expected, the lockdown wreaked havoc on the output of eight core industries in April, contracting 38.1 per cent for the month under review. The eight core industries — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — had contracted 9 per cent in March. In April last year, their output […]
Oil falls but set to post biggest monthly rise in years on output cuts
Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after US inventory data showed lacklustre fuel demand in the world’s largest oil consumer, while worsening US-China tensions weighed on global financial markets. Brent crude slipped 43 cents, or 1.2 per cent, to $34.86 a barrel by 0643 GMT […]
‘City Gas networks will soon cover 72% of country’s population’
City Gas Distribution (CGD) networks will soon cover 72 per cent of the country’s population, said Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan. Pradhan dedicated 48 CNG stations to the nation and inaugurated eight other CNG stations on Friday. These 56 stations are spread over 11 States/Union Territories — Gujarat, Haryana, Jharkhand, […]
MEIL completes 3,767 MW pumping capacity for Kaleshwaram lift irrigation project
With the commissioning of six pump of 27 megawatts capacity each at Markook pump house, Megha Engineering and Infrastructure Limited ((MEIL) has thus far commissioned 3767 mega watts pumping capacity for the mega Kaleshwaram lift irrigation scheme. The diversified infrastructure company has completed all the critical works of Kaleshwaram multi-purpose lift irrigation project of the […]