National Thermal Power Corporation has rejected bids of British oil and gas major BG Group and public sector oil companies' consortium Petronet LNG Ltd for supply of 3 million tonnes of liquefied natural gas.
In a bid to transform itself into a multi-national company, state-owned National Thermal Power Corporation on Friday said it plans to enter the European market with a foray into England.
Located on Badrinath National Highway (NH-58), residents of Selang said they are scared and the Joshimath crisis has only deepened their fears.
Reliance Industries has said that it had in December 2005 signed a contract to sell natural gas to NTPC at $2.34 per mmBtu price for 17 years, but it was the state-run firm that did not reciprocate.
PSU, other govt bodies told to explain delay on developing the concessions for years.
Among the Sensex firms, Tata Steel, Tata Motors, Asian Paints, Wipro, State Bank of India and Larsen & Toubro were the major gainers. ICICI Bank, NTPC, Axis Bank and Mahindra & Mahindra were among the laggards.
Post-sale, the government stake would be 75 per cent, which will help NTPC to comply with the minimum public shareholding norms.
As India's electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure 'zero load shedding' during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with industry stakeholders, Union Minister for Power, New, and Renewable Energy R K Singh emphasised the importance of adequate planning to avoid situations where one state has surplus power while another state faces shortages.
The development holds bilateral significance, as both India and Bangladesh had decided to improve economic ties in a 'win-win' mode during Bangladesh Prime Minister Sheikh Hasina's visit earlier this year.
NTPC Ltd and GAIL India Ltd may have to pump in more money into the Dabhol power plant after an official panel monitoring the progress of the beleaguered project decided to limit lenders' commitment to Rs 455 crore (Rs 4.55 billion).
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
RNRL and Mukesh Ambani's RIL are fighting a legal battle over the terms of gas supply agreement for Anil Ambani Group's gas-based Dadri power project. Two weeks ago, government lawyer Mohan Parasaran had stated in the court that the Empowered Group of Ministers had decided that $4.2 per mmbtu would be the minimum price of KG basin gas.
Among the Sensex firms, NTPC, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, Bajaj Finserv, UltraTech Cement and Bajaj Finance were the major laggards.
The finance ministry on Tuesday said it expects up to Rs 4,000 crore (Rs 40 billion) mop-up from the initial public offer of National Thermal Power Corporation.
Reliance Industries was the biggest gainer in the Sensex pack, rising 2.69 per cent, followed by HCL Tech, ICICI Bank, Tata Motors, Wipro, IndusInd Bank, JSW Steel, Wipro, Tata Consultancy Services and Titan. In contrast, NTPC, Power Grid, UltraTech Cement, Axis Bank, Infosys and Nestle were the major laggards.
The merchant bankers are required to submit their application by December 14.
'The Nifty index looks to be 20 per cent overvalued as per our model after moving up more than 10 per cent in the last two months.'
The power ministry has got an assurance from the government that its company will be duly compensated.
Global agency Fitch on Monday lowered the rating outlook of public sector companies including NTPC, SAIL and IOC to negative but said the downgrade of India's credit outlook to negative would not impact the rating of Reliance Industries.
Each year lakhs of engineering students vie for just about 800 jobs in this PSU . But it's worth a try!
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
RIL senior vice president (commercial) B Ganguly wrote to NTPC on Friday expressing his company's willingness to sign Gas Sales and Purchase Agreements for the state-run firm's Anta, Dadri and Faridabad plants.
RIL is relying upon the pleadings in RIL Vs RNRL case to support its defence against NTPC.
The group of four ministers or G-4, headed by Finance Minister Pranab Mukherjee, had its final meeting on Tuesday and decided to either withdraw and amend the Special Leave Petition or file separate affidavit or an interlocutory application this week, a top source said.In its present form, the government is seeking annulment of the part of the Ambani family MoU that provides for dividing gas from RIL's KG-D6 fields between companies run by brothers Mukesh and Anil Ambani.
Government will offload 9.5 per cent of its ownership.
The state-run power utility NTPC Ltd has signed an agreement to buy gas from GAIL India for 10 years at a delivered price of close to $8 per million British thermal unit.
Investors' wealth grew by Rs 3.24 lakh crore on Thursday as the BSE Sensex jumped nearly 1 per cent after a two-day slide. The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79.
A detailed assessment and internal inspection of the Dabhol power plant equipment by concerned parties including NTPC, GE India and Bechtel is necessary to ascertain the time frame for restarting it.
With a view to open price bids next month, National Thermal Power Corporation will begin discussions with four bidders, including Reliance Industries, for supplying three million tonnes of LNG.
The initial public offering of state-owned National Thermal Power Corporation would hit the market on September 23, for which it would file the prospectus with Securities and Exchange Board of India in a day or two.
The state-owned National Thermal Power Corporation on Thursday said it is considering setting up a 300 MW power plant in Sri Lanka.
Among the Sensex firms, Asian Paints, Titan, Larsen & Toubro, JSW Steel, ITC, Hindustan Unilever, Maruti and Reliance Industries were the major gainers. ICICI Bank, NTPC, Infosys, Tech Mahindra, Tata Steel and Bajaj Finance were among the laggards.
State-owned National Thermal Power Corporation is likely to hit the market with a maiden public offer for shares in the first week of August, targeting to raise up to Rs 2,000 crore (Rs 20 billion).
With eyes set firmly on becoming a multi-national company by 2017, state-owned National Thermal Power Corporation is planning to foray into the Middle East market with two projects in Saudi Arabia and Oman.
