The government is believed to be pushing the institution to rope in a strategic partner to strengthen its balance sheet. The process is expected to start in the next quarter, starting October.
The Securities and Exchange Board of India has approved The Walt Disney Company's deal to increase stake in Ronnie Screwvala-promoted UTV Software Communications beyond 15 per cent, six months after the deal was initially signed. Sebi, the market regulator, has also okayed the US-based company to launch an open offer.
ONGC Videsh Ltd, a wholly-owned subsidiary of Oil and Natural Gas Corporation, has put in a bid to buy stake in a discovered oil block in Angola, after a consortium of two Chinese companies has already reported to have bid $1.5 billion last month, confirmed a top official of OVL on condition of anonymity.
To raise funds for Imperial buy, create 'acquisition currency'.
The government's showcase Indian Infrastructure Finance Company Ltd has run into trouble with two leading global banks - Standard Chartered Bank and Calyon Credit Agricole - suggesting that they may not fulfil collective contractual funding commitments of $250 million
Delhi-based Great Eastern Energy Corporation is planning a public issue, part of which will be "sponsored", meaning foreign shareholders will also tender their shares for sale, a first for the Indian markets.
ONGC Videsh Ltd, the wholly-owned subsidiary of Oil and Natural Gas Corporation, announced that it has acquired 15 per cent in UK-listed Imperial Energy and formally launched a negotiated takeover bid for the company at $2.6 billion (equivalent to around Rs 11,500 crore), which the company's board has approved.
In an effort to stem a possible counter-bid by China's Sinopec and others, ONGC Videsh Ltd, the overseas exploration subsidiary of state-owned Oil and Natural Gas Corporation, has through its advisor Deutsche Bank approached the large institutional investors of Imperial Energy to acquire their holdings.
The promoters of East India Hotels Ltd, owners of the Oberoi brand and the largest hotel chain after the Tata-owned Indian Hotels and ITC Welcome Group, are in advanced discussions with leading corporate houses and private equity firms to divest a strategic stake, possibly 26 per cent.
The power regulator's office may have been functioning "normally" without a chairperson for almost a year, but industry executives see this as the Central government's lack of seriousness towards the body and the power sector.
Not only is Chinese equipment being deployed by quite a few power companies in the country, Chinese manpower is also employed in large numbers in the country.
When Internet search major Google Inc decided to power its 'Googleplex' in Mountain View with one of the largest solar panel installations in the world last year, it was a big vote for solar energy, which presently provides less than 1 per cent of the energy generated worldwide.
Clean development mechanism (CDM) should be used to make the prices affordable for the poor.
The main "culprit" for CO2 emissions is coal-based energy which has 24 per cent share in India's emissions and 41 per cent worldwide. While coal accounts for 25 per cent of energy, the role of renewables is 13 per cent. Of these, wind, solar and bio masses contribute just 4.1 per cent.
With a little bit of jugglery, the government will be able to meet its Eleventh Plan target of adding 78,000 Mw capacity -- more than the total capacity addition achieved in the last three Plans -- despite slippages in some of the projects.
Green energy may have become a buzzword in the cities today but people in the hinterland of the country prefer conventional power grids for electricity.
An exceptional spurt in demand for power and less-than-expected capacity addition has pushed up the peak deficit for the April-October period to a 10-year high of 14.6 per cent. According to the latest data, the capacity addition of 3,765 Mw in the first seven months of the financial year is just 32 per cent of the target.
The government's only programme to attack transmission and distribution losses - called the Accelerated Power Development and Reform Programme (APDRP) - lapsed last year and the proposed "new APDRP" has been bounced back and forth between the ministry of power, Planning Commission and the finance ministry for the last few months.
Paras Jain, who exports textiles to US retail chains like Linens-N-Things and Laura Ashley, is one of the many exporters planning to grow organic cotton as the growing 'green conscience' in the west leads to a rise in the demand for the product.
Tata Power bagged the Rs 20,000 crore (Rs 200 billion) project in Mundra last year by offering to supply electricity at the lowest rate of Rs 2.26 per unit by burning imported coal.
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