Bajaj Auto - the country's most valuable two-wheeler (2W) company by market capitalisation - met Street expectations in the January-March quarter (Q4) of 2024-25 (FY25) but still ended Friday as the worst performer on the Nifty 50, slipping 3.1 per cent.
India's electric vehicle (EV) industry hit a new milestone in 2024, with sales surging 26.5 per cent year-on-year to 1.94 million units as of December 29, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH).
Re-instatement of 5% custom duty on crude imports will help.
The Lucknow-Delhi Green Corridor will traverse Bareilly, Moradabad, Rampur and Ghaziabad. GAIL India Limited will be the implementing agency of the project.
State-run gas utility GAIL India and state refiner Bharat Petroleum Corp Ltd have floated a joint venture company to supply piped natural gas for domestic and commercial use
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
The scheme will cost the state exchequer altogether Rs 1,650 crore.
Gail India subsidiary Mahanagar Gas (MGL) on Friday announced a steep reduction in the retail price of compressed natural gas (CNG) by Rs 8/kg and domestic PNG (piped natural gas) by Rs 5/SCM across its licenced area. The move comes on the heels of the Centre revising the pricing methodology of domestically-produced natural gas on Thursday as proposed by the Kirit Parikh committee and following it with the new price announcement earlier in the day. In February, the city gas distributor reduced its CNG price by Rs 2.5/kg but prices are still around 80 per cent more than those in April last.
Bus and auto fares in the national capital are likely to go up after Indraprastha Gas Ltd announced a hike in the price of compressed natural gas for transport vehicles from July 1.\n\n
The Petroleum Ministry in an order on Wednesday said it has revised guidelines for allocation/supply of domestic natural gas to city gas distribution entities for CNG and piped cooking gas sector.
The January-March quarter (Q4) results for 2024-25 (FY25) from the country's largest passenger vehicle (PV) maker, Maruti Suzuki India (MSIL), were a mixed bag, with revenues broadly in line but operating profit missing Street expectations. Given cost pressures, margins at the operating level were the lowest in the past seven quarters.
The Supreme Court on Monday declined to extend the January 31 deadline for 24,000 commercial vehicles in Mumbai to convert to compressed natural gas (CNG).\n\n
MGL said in spite of gas cost doubling, its selling prices have increased by only 28 per cent for CNG and 30 per cent for PNG.
CNG and piped cooking gas prices in cities such as Delhi and Mumbai may be hiked by 10-11 per cent next month as the government-dictated gas price is set to rise by about 76 per cent, ICICI Securities said in a report. The government, using rates prevalent in gas-surplus nations, fixes the price of natural gas produced by firms such as state-owned Oil and Natural Gas Corp (ONGC) from fields given to them on nomination basis, every six months. The next review is due on October 1.
This means the already-minuscule sale of retrofitted CNG variants of Aveo, Logan, Accent, Santro, Corolla Altis and Innova is set to take a hit.
Union oil and petroleum minister Ram Naik will travel to Tehran to discuss the prospect of importing liquefied natural gas and to boost bilateral cooperation in the energy sector.
Mumbai sources all of its gas requirement from domestic fields and as such there will be no cut in rates in the city.
Three companies -- FirstMeridian Business Services Ltd, IRM Energy Ltd and Lohia Corp -- have received capital markets regulator Sebi's go-ahead to raise funds through initial public offerings (IPOs). These firms, which filed their preliminary IPO papers with the markets regulator between September 2022 and January 2023, obtained the observation letters during February 21-24, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi parlance, observation implies go-ahead to the company to float the initial share-sale.
Automotive (auto) major Tata Motors posted a 51 per cent drop in consolidated net profit for the January-March quarter (Q4) of 2024-25 (FY25), to Rs 8,470 crore, due to a deferred tax asset of almost Rs 9,000 crore in the corresponding quarter of the previous financial year and an exceptional item of Rs 566 crore during the quarter. Revenue was up just 0.5 per cent year-on-year (Y-o-Y) at Rs 1.18 trillion for Q4FY25.
Bajaj Auto has launched a new range of passenger three-wheelers, with improved mileage, changed styling and lower maintenance costs.
The Freedom 125 has sold 8,310 units in October to date. This is its highest since it was launched in July and may touch close to 9,000 by the end of the month.
The price of Compressed Natural Gas (CNG) may be hiked by up to Rs 2 per kg in the next few days as rupee devaluation has pushed up input cost.
Compressed natural gas is currently available as auto fuel in 30 cities. "CNG-run vehicles have risen by nearly 200,000 in past one year to 650,000," Petroleum and Natural Gas Regulatory Board chairman L Mansingh said at the NGV India 2009 conference in New Delhi.
State-run gas firm Gas Authority of India Ltd on Tuesday signed an agreement with Spectra International Ltd of Bangladesh to identify possibilities of joint cooperation in compressed natural gas infrastructure development projects and gas retailing i
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Companies to hold rates in Delhi until new government is formed.
Clean air needs action all year round; and that it will work only if we act jointly and at scale, asserts Sunita Narain.
IGL's share price has taken a beating at the stock exchanges.
After rolling out five compressed natural gas models last year, India's largest passenger car maker, Maruti Suzuki India Ltd, is mulling a CNG platform for all its makes.
The government also withdrew the five per cent VAT on compressed natural gas besides bringing back the VAT for tea, coffee and cocoa to five per cent from the proposed 12.5 per cent.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
High courts should replicate for states what the Supreme Court has done for Delhi's environment, says M J Antony.
Days after a Rs 3 per litre rise in petrol prices, it is the turn of compressed natural gas. Indraprastha Gas (IGL), monopoly marketer of CNG in and around this metropolis, is looking at raising the price by up to six or seven per cent (Rs 2 per kg) sometime next week, due to higher cost on account of a weakening rupee.
India has emerged as the world's biggest cylinder-based liquefied petroleum gas user with the customer base crossing 7 crore (70 million mark), Petroleum Minister Ram Naik said.
The country's second-biggest bike maker Bajaj Auto today said it will launch CNG
Petroleum Minister Ram Naik hinted on Wednesday that fuel prices may come down further if the international crude prices of Brent fall to around $20-22 per barrel.\n\n\n\n
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