The average daily turnover (ADTV) in the derivatives market rose to a 12-month high in October, touching 506 trillion - up nearly 46 per cent since June - as volatility picked up and concerns over further regulatory tightening eased. Derivatives activity had slumped earlier this year after the Securities and Exchange Board of India (Sebi) capped weekly expiries to two days and discontinued weekly contracts on non-benchmark indices.
After four failed reform drives, a new plan aims to rescue India's debt-laden power discoms through privatisation, accountability and long-term financial fixes.
In a move that could have implications for market share dynamics, the Securities and Exchange Board of India (Sebi) has permitted the National Stock Exchange (NSE) and the BSE to alter the days for settlement of equity derivatives contracts.
A strong dust storm and gusty winds followed by rain hit Delhi-NCR on Friday evening, causing trees to be uprooted in several parts and leading to traffic congestion. Thunderstorms caused power disruptions in several parts of the city, primarily due to trees and branches falling on electricity cables. The India Meteorological Department (IMD) has issued an orange alert, recommending people stay indoors and avoid unnecessary travel.
NTPC on Tuesday asked the two BSES utilities to make their payments and said in the event of failure to do so it would be forced to regulate supplies to the state discoms.
BSES entities BRPL (BSES Rajdhani Power Limited) and BYPL (BSES Yamuna Power Limited) supply electricity to around 12 lakh and 16 lakh customers respectively.
Reliance Group-owned power distribution companies in Delhi on Thursday approached the Supreme Court against NTPC's notice threatening to cut off power supply for not clearing outstanding dues.
BSES Ltd became a part of the Reliance Group with Anil Ambani being appointed chairman of the Mumbai-based power utility.\n\n\n\n
Reliance Infra-backed BSES discoms have sought Rs 450 crore "dues" from Delhi government and the Municipal Corporation of Delhi to overcome their immediate "financial difficulties" and avoid black outs in 70 per cent areas even as the AAP dispensation maintained it will not adopt a "lenient" approach in dealing with the firms.
Delhi's peak power demand reached an all-time high of 8,302 MW on Wednesday afternoon as the city logged its highest-ever temperature of 52.3 degrees Celsius at the Mungeshpur weather station.
BSES Ltd, a Reliance group entity, has reported a massive 539.04 per cent rise in net profit at Rs 93.3 crore for the third quarter ended December 31, 2003, compared to Rs 14.6 crore in the same quarter last fiscal.
BSES Ltd has posted a 133.94 per cent rise in its net profit at Rs 88.83 crore for the quarter ended September 30, 2003 as against Rs 37.90 crore in the corresponding period of previous year.
The Maharashtra Electricity Regulatory Commission has restrained Mumbai-based power utility and Reliance group company BSES from disconnecting supply to consumers for non-payment of additional security deposit.
The court on Tuesday ordered BSES -- part of billionaire Anil Ambani's Reliance Infrastructure Ltd to pay state-run NTPC the Rs 700 crore (Rs 7 billion) it is owed by May 31.
BSES Ltd, now Reliance Energy Ltd, has declared a 10 per cent dividend for the quarter ended June 2003, making it the first listed Indian company to pay quarterly dividend.
The Reliance group-promoted BSES Yamuna Power and Rajdhani Power plan to invest as much as Rs 4,000 crore (Rs 40 billion) over the next few years to improve the power distribution activities in the capital.
Hardening its stand on the issue, the Delhi government has recommended power regulator Delhi Electricity Regulatory Commission to revoke the license of Reliance Infra-backed power distribution companies if they fail to pay dues to NTPC and resort to long outages in large parts of the city citing fund crunch.
The Reliance Group power utility BSES Ltd is to set up two new corporate entities to pursue opportunities in transmission and energy trading sectors.
Reliance group company BSES Ltd proposes to set up a 1,000- 2,000 MW thermal power station around the capital, entailing a minimum investment of about Rs 3,000 crore (Rs 30 billion).
BSES Ltd has posted a net profit of Rs 146 million for the quarter ended December 31, 2002 as compared to Rs 867.90 million in the quarter ended December 31, 2001.
BSES' net profit declined 42 per cent to Rs 162.33 crore (Rs 1.62 billion) for the year ended March 31, 2003, compared with Rs 280.74 crore a year ago.
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