Category: Power

Debt-ridden Videocon Industries Thursday reported a net loss of Rs 1,023.08 crore for the third quarter of the current fiscal. The company had reported a net loss of Rs 1,314.96 crore in the year ago period. Its total income fell sharply to Rs 223.73 crore during the October-December of 2018-19 from Rs 864.34 crore in […]

State-run thermal power producer Odisha Power Generation Corporation Ltd (OPGC) is on the verge of commissioning a 1,320-Mw (660×2 units) project at Jharsuguda. OPGC is adding two 660-Mw supercritical units as part of its expansion at Ib Valley at a cost of about Rs 11,000 crore. “The process of commissioning of third and fourth units […]

Shares of CG Power and Industrial Solutions ended nearly 30 per cent lower on Wednesday at Rs 23.75 on the BSE, after the company reported a consolidated net loss of Rs 150 crore in the December 2018 quarter. The counter hit its 52-week low of Rs 23 on the BSE in intra-day trade before recovering […]

Union Minister for Power R K Singh said that the power sector in the country has been facing two major challenges — availability of coal and finance for the new projects. “New power plants are facing problem of finance and initiatives have to be taken for (boosting) bank lending,” Singh said, while inaugurating Indian Power […]

In a first sign of private equity (PE) interest in exploration and production in India, little-known Chennai-based Invenire Energy has taken over Tata Sons oil and gas arm Tata Petrodyne (TPL) in a $100-million deal. Miami-based Atyant Capital holds a majority stake (two-thirds) in Invenire, incorporated in 2016. Invenire has also submitted bids for six […]

Renewables would be preferred source of energy by 2030 with tariffs ranging between Rs 1.9-2.6 per unit for wind and solar power and storage cost declining by around 70 per cent, a report by Energy Transition Commission (ETC India) said. The cost of wind power will be between Rs 2.3-2.6/kWh and of solar power in […]

Lenders including private banks and mutual funds have asked Anil Ambani-controlled Reliance Group’s promoter entities to put more collateral on the table to secure their Rs 6,000-crore exposure. The margin calls first started in October last year when the Reliance Power stock began showing signs of weakness, according to a lender. The Anil Ambani group […]

Shares of CG Power and Industrial Solutions have declined 15 per cent to Rs 28.60 apiece, also their 52-week low on the BSE, after the company reported a consolidated net loss of Rs 150 crore in December 2018 quarter (Q3FY19). The performance impacted mainly on account of an exceptional loss of Rs 117 crore. The […]

Anil Ambani-led Reliance Power has asked the Sebi to immediately ban Edelweiss Group from the capital market, alleging “illegal and market disruptive activities” to cause a steep plunge in the company’s share price. Reliance Group, last week, accused L&T Finance and Edelweiss Group entities of “illegal” and “motivated” actions in invoking the pledged shares of […]

State-owned power giant NTPC will regulate power supply to Jammu and Kashmir (J&K) from February 18 midnight for not clearing outstanding dues of more than Rs 1,600 crore. On February 5, the company had also issued similar notices to discoms in Telangana, Karnataka and Andhra Pradesh to regulate power, as the states had as much […]

Jaiprakash Power Ventures Ltd’s (JPVL) loss narrowed to Rs 95.89 crore in the December 2018 quarter as compared to the year-ago period, mainly due to better revenues and lower expenses.

Anil Ambani-promoted Reliance Group alleged on Friday that misconduct by certain non-banking financial companies (NBFCs), particularly L&T Finance and Edelweiss, had led to the recent slump in shares of some of its companies, and termed their action “illegal, motivated, and wholly unjustified”.