Mumbai electricity consumers do not have to face powercuts for a while. The Maharashtra Cabinet subcommittee chaired by Chief Minister Ashok Chavan on Thursday intervened to resolve the ongoing dispute between Tata Power and Reliance Infrastructure over power purchase.
Reliance Infrastructure, part of the Anil Dhirubhai Ambani Group, has said the recent Supreme Court order on gas supply to sister firm Reliance Power (45 per cent owned by R-Infra) will not impact its projects.
Wipro's scrip jumped 2.97 per cent to Rs 468.50 on the NSE.
Reliance was the highest bidder at Rs 63 cr for the 5 airports project.
The project is for a concession period of 35 years with an extension clause of another 10 years, the company said in a statement.
The move will help the utility to charge more from its 2.6 million users in Mumbai. Reliance Infrastructure (Rel Infra) had asked asked the Maharashtra Electricity Regulatory Commission for a 4.19 per cent rise in its annual revenue requirement. It was instead granted an increase of 10 per cent. Mumbai and its suburbs are serviced by Tata Power, Brihanmumbai Electricity & Suburban Transport and Reliance Energy.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
Shares of Reliance Infrastructure and Reliance Natural Resources Ltd on Tuesday tanked in the range of 4-8 per cent on the bourses after reports surfaced that these two ADA Group firms are involved in fraudulent banking activities overseas.
Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.
M-Cap of top 10 business groups went up by 46% this year.
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The Reliance Group employee is among those who have been arrested
RInfra's plan to lease out headquarters property may face legal hurdle. Moreover, PE players with balance sheets that can take on Reliance Centre Office in Santacruz would be limited and include a handful of players such as Blackstone group, GIC, Brookfield Asset Management and Maplewood Investments.
Ajit Mishra answers reader queries on the stock market.
According to sources, RInfra has sought a steep revision in the fares with minimum Rs 22 and maximum Rs 33, citing a near-doubling of its cost.
About 240,000 commuters travelled on the first day (Sunday) of the Mumbai Metro's operations, Reliance Infrastructure Ltd (RInfra) said on Monday.
The marquee names include Hindalco, three Tata group companies and Colgate.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
The new discounted fares are Rs 10 (3 km), Rs 15 (8 km) and Rs 20 (20 km).
The combined net sales of 42 listed construction and capital goods companies that have declared their third-quarter results so far were down 2.3 per cent year-on-year in Q3FY21 while core operating profit was up just 4.9 per cent YoY during the quarter.
Reliance Infrastructure said it plans to commission the Mumbai Metro rail project this year.
DMRC, Reliance Infra go for arbitration.
Red signal for Mumbai Metro Phase II.
He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
Your daily ride to work is not going to be that easy. An analysis of the progress of top metro projects across India suggests that apart from the Delhi and Jaipur Metro and Chennai Monorail, the remaining projects are still in the planning stages.
Anil Ambani-led Reliance Group on Thursday signed an agreement with China's retail player Wanda Group to set up a joint venture for building integrated township projects in India.
Lalit Jalan talks about his relationship with the Ambanis and why the honeymoon is over for infrastructure firms.
The Group has decided to withdraw the Rs 5,000-crore civil defamation suits against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal.
Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani has taken a huge cut in his total remuneration from his four main companies in 2011-12 at about Rs 5.5 crore (Rs 55 million), lower by nearly two-third from the previous year.
MSRDC wants to complete this process before exploring options of arbitration and termination of concession agreement signed with the RSOPL for the project.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
LIC, EPFO and PSBs are likely to be asked to subscribe to bonds.
Commission says that though Reliance Infra is a private company, it provides 'essential service' and hence comes within the ambit of the RTI Act.
The deal includes Reliance Infrastructure's integrated business of Generation, Transmission and Retail Electricity Distribution
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Dismal ridership figures and eroding profitability could turn this showcase transit project into a white elephant.
It recently began toll collection on the Hosur-Krishnagiri highway connecting Bangalore to Chennai, where the lanes have to be expanded from four to six.
The biggest losers on the National Stock Exchange's benchmark Nifty 50 index are stocks that have seen the highest turnover over the past 12 months, according a report by Morgan Stanley.
Metro projects usually require additional funding by promoters, which RInfra refuses to in this case.
The developers, Reliance Sea Link One Pvt Ltd -- a joint venture between the Anil Dhirubhai Ambani group's Reliance Infrastructure and Hyundai Engineering -- is ready with the financial closure for the project after MSRDC submitted a no-objection certificate from its bond holders to the joint venture company.
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