Rating agency Moody’s has upgraded the outlook on rating Bharat Petroleum Corporation Limited (BPCL) from ‘negative’ to ‘stable’ as the government’s decision to call off the proposed stake sale in the company eliminates the risk of potential deterioration in its credit quality. “If the divestment had occurred, we would have reassessed the sovereign support currently […]
Category: Business Standard
Business Standard
Kia EV6 India launch tomorrow: All you need to know about new vehicle
A week after opening bookings for its much-anticipated first electric car in the Indian market at an initial price of Rs 3 lakh, Kia is now set to launch the EV6 in the country on Thursday, June 2. This will take the count of Kia models in India to five, with the firm having previously […]
Race for cheaper EVs may face fears-long setback due to metal costs
A surge in battery metal prices means it could take several years longer for electric vehicles to become as affordable as conventional cars, according to BloombergNEF. Prices of lithium, cobalt and nickel have soared in the past year, eating into EV makers’ margins at a crucial point in the development of the burgeoning industry. With […]
Vedanta employs largest lithium-ion battery powered fleet of 27 forklifts
India’s largest producer of aluminium Vedanta Aluminium has commissioned India’s largest electric fleet of 27 forklifts, powered by lithium-ion batteries. Done in partnership with Gemini Equipment and Rentals India, this feat sets the ball rolling on Vedanta Aluminium’s plans to decarbonise its industrial vehicle fleet. These electric forklifts make use of the cutting-edge system to […]
Adani group shares take a beating after MSCI index adjusts weight
Some shares that are part of billionaire Gautam Adani’s conglomerate took a beating on Tuesday as investors adjusted their holdings to reflect changes in the composition and weighings in the MSCI India Index, according to an analyst who publishes at Smartkarma. Adani Green Energy Ltd., the group’s biggest firm by market value, led the rout, […]
Rising energy prices leave Australia’s smaller energy suppliers out in cold
As Australia heads into winter and people switch on their heating, energy costs have spiked due to surging demand, leaving smaller electricity retailers unable to weather price shocks. Peak national employer organisation, the Australian Industry Group (Ai Group), referred to the rises in energy prices as “apocalyptic” on Tuesday, Xinhua news agency reported. “Apocalyptic rises […]
Covid-19 hinders efforts to achieve universal energy access by 2030: Report
The Covid-19 pandemic has slowed the progress towards universal access to electricity and clean cooking fuel and technology, according to a UN-sponsored report. Globally, 733 million people lack access to electricity, and 2.4 billion still cook using fuels that are harmful to their health and the environment, according to the report published on Wednesday. The […]
PFC lists 300-million euro green bonds on Luxembourg Stock Exchange
State-owned PFC on Wednesday said its maiden green bonds of 300 million euros have been listed on Luxembourg Stock Exchange (LSE). PFC Chairman and Managing Director (CMD) RS Dhillon rang the bell at the listing ceremony held in GIFT IFSC Gujarat on Wednesday, the company said in a statement. “PFC has successfully listed its maiden […]
UN welcomes first commercial flight from Yemen’s Sanaa airport to Egypt
The United Nations has welcomed the first commercial flight from Yemen’s Sanaa airport to Cairo, a UN spokesman said. The first commercial flight took off on Wednesday. Stephane Dujarric, spokesman for UN Secretary-General Antonio Guterres, told the regular press briefing on Wednesday that “this was the seventh flight operating under the terms of the UN […]
China bars Russian airlines with foreign planes amid penalties fear: Report
China has barred Russia’s airlines from flying foreign-owned jetliners into its airspace, the Russian news outlet RBK reported, after President Vladimir Putin threw the aircrafts’ ownership into doubt by allowing them to be re-registered in Russia to avoid seizure under sanctions over Moscow’s attack on Ukraine. The European Union, home to major aircraft leasing companies, […]
Turbulences ahead for IndiGo, SpiceJet?
InterGlobe Aviation and SpiceJet have had a hard landing on the bourses so far this calendar year. Shares of IndiGo airlines have tumbled 10 per cent on a year-to-date basis, while those of SpiceJet have crashed 30 per cent. In comparison, the benchmark S&P BSE Sensex has slipped 5 per cent, and the BSE MidCap […]
IndiGo’s Ronojoy Dutta on the airline’s performance and the horizon ahead
Q: You have been very bullish about the RASK getting higher and higher… that the Indian customers will be willing to pay more for a higher, a better and efficient service. Your RASK is now at historic high. How much more scope is there to improve this further? Ans: >Loss reported by the airline was […]