BENGALURU: Solar tariffs fell to a record low of Rs 2.36 per unit at a recent Indian auction in which six foreign firms bagged most of the 2,000 MW of projects for which bids were called, people close to the development said. Renew Power is the only Indian firm among the winners. The lowest tariff […]
Category: The Economic Times
Economictimes
Airbus shedding 15,000 jobs, mostly in Europe
European aircraft manufacturer Airbus says it plans to shed 15,000 jobs over the next year, mostly in Europe, as it struggles with the financial hit of the coronavirus pandemic. “With air traffic not expected to recover to pre-COVID levels before 2023 and potentially as late as 2025, Airbus now needs to take additional measures,” the […]
Commodity outlook: Crude oil slips; here is how others may fare
NEW DELHI: Barring crude oil, all metals and energy commodity futures gained on Multi-Commodity Exchange (MCX) on Wednesday amid a sharp rise in Covid-19 cases across the world. Crude oil dropped 0.40 per cent while gold and silver continued their advance for another day encouraged by rising risk-off sentiments. Nickel, zinc and lead added up […]
Opec, Russia seen easing oil production cuts from August: Sources
LONDON: Opec and Russia will likely ease record oil production cuts from August as global oil demand recovers and prices have bounced back from their lows, four Opec+ sources told Reuters. Opec and its allies including Russia, know as Opec+, have agreed to cut production by a record 9.7 million barrels per day, or 10 […]
Crude oil prices drop on prospect of returning Libyan supplies
LONDON: Oil prices slipped on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year. The more-active September contract for Brent fell 22 cents, or 0.5 per cent, to $41.63 a barrel by 0832 GMT, paring Monday’s 92 cent […]
Saudi oil cuts take seven supertankers a day off the market
Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June. Observed Saudi crude exports for this month fell to 5.7 million barrels a day through June 29, the lowest since Bloomberg began tracking the flows at the start of 2017. That compares with 6.2 million […]
ONGC Q4 results preview: Profit may plunge up to 60%, margin contraction likely
NEW DELHI: Shares of ONGC climbed 1 per cent ahead of quarterly earnings later today. The oil & gas major is expected to report an up to 60 per cent drop in profit on 20-25 per cent plunge in net sales. The production guidance for domestic and overseas (OVL) businesses and the current status of […]
ONGC Q4 results: Reports standalone net loss of Rs 3,098 crore on impairment loss of Rs 4,899 crore
New Delhi: Oil & Natural Gas Corporation (ONGCNSE -1.78 %) on Tuesday posted a standalone net loss of Rs 3,098.26 crore for the quarter ended March 31 due to exceptional item towards impairment loss of Rs 4,899 crore. It had posted a net profit of Rs 4,239.50 crore in the corresponding quarter last year. Revenue […]
BGR Energy Systems Q4 results: Report Rs 4.71 crore loss
New Delhi: BGR Energy SystemsNSE -2.44 % on Tuesday reported a consolidated net loss of Rs 4.71 crore for the January-March quarter 2020. The consolidated net profit of the company was Rs 31.96 crore in quarter ended on March 31, 2019, a regulatory filing said. Total income dropped to Rs 320.32 crore in the quarter […]
ONGC posts Rs 3,098 crore Q4 net loss: Key takeaways
Mumbai: State-run Oil & Natural Gas Corporation (ONGCNSE -1.72 %) on Tuesday posted a standalone net loss of Rs 3,098.26 crore for the quarter ended March due to an exceptional item towards impairment loss of Rs 4,899 crore. The oil and gas explorer had posted a net profit of Rs 4,239.50 crore in the corresponding […]
Buy Oil India, target price Rs 110: Motilal Oswal
Motilal Oswal has given a buy rating to Oil India Ltd with a target price of Rs 110. The share price moved down by -0.99 per cent from its previous close of Rs 95.65. The stock’s last traded price is Rs 94.70. Oil India’s 4QFY20 oil and gas sales were in line with brokerage estimates. […]
InterGlobe Aviation Ltd. shares gain 0.16% as Sensex rises
Shares of InterGlobe AviationNSE 0.85 % Ltd. traded 0.16 per cent up at Rs 1010.75 at 11:33AM (IST) on Tuesday, even as BSE benchmark Sensex gained 179.26 points to 35140.78. The stock had closed at Rs 1009.1 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 1911.0 and Rs […]