A Group of Ministers on Wednesday approved major game changers in oil and gas exploration and production sector, including asset stripping of state-run Oil & Natural Gas Corp and Oil India Ltd. Based on the proposal from the Petroleum Ministry, the GoM — headed by Finance Minister and assisted by Coal, Commerce, Power and Petroleum […]
Category: The Indian Express
Indian Express
Rafale case: Review plea pending, lawyers too responsible for delay, says CJI
Citing a pending review plea in the Rafale case, Chief Justice of India Ranjan Gogoi conveyed that lawyers too were responsible for delay in matters coming up for hearing, in the Supreme Court on Friday. “Application is filed for modification of Rafale order and it’s given wide publicity. But it’s lying defective for more than […]
Andhra Pradesh move to re-open PPAs takes the wind out of RE projects
Two state-owned power discoms (distribution companies) of Andhra Pradesh have moved to reopen contracts signed with wind generators in recent months, a step that could impact at least 40 of India’s biggest RE (renewable energy) developers and raises serious questions about the sanctity of contracts. The move is a body blow for RE developers, who […]
Profit at Rs 8,262.70 crore, ONGC Q3 net rises 65 per cent
Driven by higher net realisations and a sharp depreciation in currency, Oil and Natural Gas Corporation (ONGC) on Thursday reported a 65 per cent year-on-year (YoY) increase in profit to Rs 8,262.70 crore. The stock, which closed Thursday’s session down 1.12 per cent at Rs 132.10, is among the biggest underperformers. Since 2018, it has […]
Jet Airways board approves rescue deal, banks to get over 50% stake in bailout plan
The board of struggling Jet Airways Ltd, which recently defaulted on debt repayment, has agreed to give lenders the majority stake of 50.1 per cent by converting part of its debt into equity as part of a resolution plan worked out by lenders. In a stock exchange filing, the loss-making airline said the board, as […]
Cancellations to go on; stability expected by April 1, says IndiGo
Even as India’s largest airline continues to be marred with mass flight cancellations due to restructuring of its roster, the company believes that it has enough pilots and that its operations are expected to stabilise by April 1. “We have enough pilots … but certain circumstances came together — we wanted to have more buffer […]
Crude rise a fresh concern for rupee
Brent crude oil prices crossed the $65 per barrel mark for the first time in three months on Friday putting pressure on rupee which closed at 71.23 against the USD, down 0.1 per cent and the premier benchmark indices at BSE and National Stock Exchange falling by 0.2 per cent on Friday. While a decline […]
Smart grid system to change face of energy
BHUBANESWAR: Installation of smart grid system can help tackle power blackouts during disasters and crisis while providing reliable and quality electricity to consumers, experts emphasised here on Thursday.
Jet Airways accepts Etihad’s bailout terms, says report; shares rise
Jet Airways Ltd has agreed to most conditions set by shareholder Etihad Airways for offering a lifeline to the debt-laden Indian carrier, the Business Standard newspaper said, sending Jet’s shares soaring as much as 18 percent on Friday. Both airlines are set to sign a memorandum of understanding (MoU) within days, which would result in […]
IFFCO Chowk Underpass: Solitary petrol pump in way of Gurgaon mega project might finally go
Work on the right-turn underpass at Gurgaon’s IFFCO Chowk, that has been held up because of an HPCL petrol pump in its path, may soon begin again, with the Haryana Shahari Vikas Pradhikaran (HSVP) allotting a new site for the pump on Monday.
Jet Airways seeks shareholder nod for converting existing debt into equity
In an attempt to stay afloat, Jet Airways has sought shareholder approval to issue new equity and convert existing debt into equity among other things at a special general body meeting, indicating that banks are likely to convert part of the debt into equity.
Sky monopoly: Direct flights on 188 of 392 routes run by single players
Increasing competition, rising costs and a growing market have prompted India’s airlines to pursue a strategy of operating routes in which only one player in the fray runs direct flights — they account for nearly half of around 392 routes in India, latest data show.