Five companies, including NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterlite Energy, of the 11 pre-qualified bidders, were in the fray for the project. The financial and technical bids for the coal-based thermal power project were invited on December 29 and the final financial bids were to be opened within 15 days.
In the revised financial bids, Anil Ambani-controlled Reliance Power had emerged as the lowest tariff bidder last month vis--vis other power majors such as Lanco Infratech and National Thermal Power Corporation. Official sources said the government might go for re-bidding to bring down the quoted tariff, which is observed to be on the higher side. The ETF will meet on July 19 to take a final view.
Bid date for Allahabad project postponed on fears of higher tariff quotes.
The Tilaiya project is a part of the government's showcase UMPP scheme under which a power generation capacity of around 50,000 Mw is planned to be created through 13 of such mega projects, which will come up mostly in the Twelfth Plan period.
The Reserve Bank had identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans accounting for 25 per cent of total NPAs or bad loans of banks, for immediate referral for resolution under the bankruptcy law.
The BSE Sensex bounced back by 14.8 per cent (2,261.65 points) from Tuesday's intra-day low of 15,332.42 to close at 17,594.07 on Wednesday. The index, which lost 5,874.35 points from its all-time high of 21,206.77, has retraced 39 per cent of its total losses.
Mutual funds bought FMCG, construction, auto, and IT stocks in November.
Govt went against its own recommendation of Jun 20, 2007, where along with the 2 Jindal companies, it wanted 40% coal block to go to Lanco.
Affected firms note practical problems in getting discoms, consumers to pay for costlier supply; viability shadow on investments
State-owned Oil and Natural Gas Corp has shut some wells on two onland gas fields in East Godavari district of Andhra Pradesh following the fire in a pipeline that carried the gas to consumers.
With more new listings on the bourses trading at a discount to the offer price, retail investors are no longer queuing up for initial public offering applications.
The fate of the 4,000 Mw Sasan ultra mega power project seems uncertain with the entire bidding process being questioned.
The government is mulling a policy for developing hydro-power capacity, under which projects, possibly of 2,000-3,000 Mw each, would be drawn up and offered to private and public sector developers.
Mid-caps in cyclical sectors such as cement, financials and capital goods estimated to earn much more
CFO of Lanco Group, Suresh Kumar explains how interest rate hikes would affect their project.
The biggest lesson is in creating bankable projects with the government getting major clearances, leaving private firms to deliver on what they do best.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
Gadkari, who handles key infrastructure-related portfolios, said there is no problem with the road sector at present and money is not an issue anymore.
It is not just film stars who are spicing up the poll scene in Andhra Pradesh, but also corporate honchos who are jumping on to the political bandwagon to try their fortunes in Lok Sabha and assembly polls.
The companies are crying foul over the cancellation of 25 blocks held by 68 firms over the past two days.
These firms reported a combined operating profit of Rs 26,077 crore (Rs 260.77 billion).
Promoters of companies who have pledged their shares to raise funds from banks will be asked to top up with more shares if the carnage in the market continues.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
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Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
Top gainers from the Sensex pack are ONGC, HDFC, HUL, RIL and Cipla.
The group plans Rs 30,000-cr oil refinery with IOC; buys Lanco's Udupi power plant for Rs 6,000 cr
Who is to take their place? Will a new generation of entrepreneurs start up with better business sense, or at least better luck? But the so-called unicorns are mostly copy-cat entrepreneurs whose cash flow is funded by overseas (including Chinese) money, notes T N Ninan.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
Prime Minister Narendra Modi is set to meet top Australian business leaders, including BHP Billiton CEO Andrew Mackenzie and HSBC Bank Australia CEO Tony Cripps, at a roundtable in Melbourne next week.
On BSE, 1,469 shares fell and 1,200 shares rose. A total of 190 shares were unchanged.
All listed firms were required to have at least one woman director on their boards from April 1, 2015, as per a Sebi directive.
This amendment is proposed to be made retrospectively effective from FY16 onwards.
Mining baron Anil Agarwal-led Vedanta Group has bid for the most number of 14 coal mines out of 23 on offer in the first round of auction which also have aggressive bids by Aditya Birla Group, Adani and Naveen Jindal group, but was shunned by foreign players.
'James Crabtree ignores the emergence of a nexus between business and politics going back to the 1920s and talks of it as a new child of 21st century India,' says Shivanand Kanavi.
Striking another major deal in less than four months, Adani Power on Mondayentered into a binding agreement with Gautam Thapar-led Avantha Group to buy out its 600 MW Korba West unit for more than Rs 4,200 crore.
Pawan Verma contended that PSU banks are influenced to give loans to the people who are not able to repay them.
Indian CEOs might like to make some serious course correction.
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