New Delhi: Kalpataru PowerNSE -0.84 % Transmission Ltd (KPTL) Friday said it has secured new orders worth Rs 588 crore in international markets. The transmission and distribution business has secured projects of Rs 588 crore in international markets, KPTL said in a statement. “Our total order inflows for 2018-19 is approximately Rs 8,500 crore and […]
Category: Power
Power
Care Ratings: Power generation to grow at 7% in FY19
Care Ratings believe electricity generation in FY19 will grow between 6% and 7%. Successful implementation of electrification led by power for all is expected to drive demand for electricity. Care also expects demand for imported thermal coal to normalize going forward as supply constraints of domestic coal improve over the next 12 months. However, overall […]
Private producers seek TReDS mechanism to clear Rs 41,240 crore dues
MUMBAI: Private power producers have urged the government to consider extending the trade receivables discounting system (TReDS) applicable for MSMEs to them to help resolve their payment woes, which are to the tune Rs 41,240 crore. In a letter to power secretary Ajay Kumar Bhalla, the Association of Power Producers Friday said delay in recovery […]
PFC completes REC acquisition, hopeful of merger in 2019-20
NEW DELHI: State-owned Power Finance CorporationNSE 1.91 % (PFC) on Thursday completed acquisition of majority stake in REC Ltd by transferring Rs 14,500 crore to the government and is hopeful of merger of the two firms in 2019-20. The transaction assumed significance because it helped the government meet its disinvestment target of Rs 80,000 crore […]
Corporate Affairs Ministry proposes prosecution of cos owned by Deepak Kochhar, VN Dhoot
The Mumbai regional office of Ministry of Corporate Affairs (MCA) has recommended prosecution action against companies owned by Deepak Kochhar, the husband of former ICICI BankNSE -0.92 % CEO Chanda Kochhar, and Videocon chairman VN Dhoot. This, after the department found instances of what an internal report describes as deliberate acts of omission and concealment […]
PFC completes REC buy, pays Rs 14,500 cr to govt
NEW DELHI: State-owned Power Finance Corporation (PFCNSE 2.00 %) on Thursday completed the acquisition of majority stake in RECNSE 0.00 % by transferring Rs 14,500 crore to the government, an official said. The transaction has helped the government meet its disinvestment target of Rs 80,000 crore for the current financial year. “The entire consideration of […]
Share market update: BSE Power index up; JSW Energy climbs over 3%
NEW DELHI: The S&P BSE Power index was up with most of its components trading higher in Wednesday’s afternoon session. The S&P BSE Power index was trading 0.30 per cent up at 2050.36 around 12:18 pm. Shares of JSW Energy (up 3.51 per cent), Suzlon EnergyNSE 0.00 % (up 2.56 per cent), Tata PowerNSE 0.63 […]
NTPC launches MTN issue to raise $450 million
New Delhi: State-run power giant NTPC Wednesday said it launched on Tuesday a medium term notes (MTN or bond) issue to raise USD 450 million (approx Rs 3,105 crore), which is a part of its USD 6 billion (approx Rs 41,400 crore) MTN programme. The MTNs are also know as bonds in the overseas markets. […]
PFC sets borrowing limit at Rs 81,000 cr for FY20
State-run Power Finance CorporationNSE 0.30 %’s board Wednesday decided to set the company’s overall borrowing limit at Rs 81,000 crore for 2019-20. At its meeting Wednesday, the board of directors approved the market borrowing program of Rs 81,000 crore under different debt segments in one or more tranches / series for the next fiscal, the […]
Power Finance Corporation to pay entire Rs 14,500 crore for REC acquisition on Thursday
NEW DELHI: State-owned Power Finance Corporation (PFC) on Thursday will make the entire payment of Rs 14,500 crore to the government for acquiring 52.63 per cent stake in REC, a source said. The deal would help the government meet its disinvestment target of Rs 80,000 crore for the current financial year ending on March 31. […]
Moody’s retains stable outlook on PFC, REC post acquisition announcement
Global rating agency Moody’s Investors Service on Wednesday said it has retained the previous stable outlook on Power Finance CorporationNSE -0.84 % (PFC) and REC Limited, as it expects quick closure of a deal between the two firms and resolution of a chunk of their bad loans. Borrowing programmes of the two firms were put […]
Unitech sells power transmission biz to Sterling and Wilson for Rs 100 cr
NEW DELHI: Crisis-hit realty firm UnitechNSE 4.17 % Ltd Tuesday said the company has sold its power transmission business to Sterling and Wilson for Rs 100 crore. Unitech Power Transmission is engaged in the business of manufacturing and installation of power transmission lines. In a regulatory filing, Unitech said it has entered into a share […]