PSU, other govt bodies told to explain delay on developing the concessions for years.
Post-sale, the government stake would be 75 per cent, which will help NTPC to comply with the minimum public shareholding norms.
Among the Sensex firms, IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, Infosys, NTPC, Bharti Airtel, HCL Technologies and Axis Bank were the biggest gainers. Tech Mahindra and Bajaj Finance were the laggards.
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).
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.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
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.
The merchant bankers are required to submit their application by December 14.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, ITC, UltraTech Cement, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, IndusInd Bank, NTPC and ICICI Bank were the major laggards.
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.
The power ministry has got an assurance from the government that its company will be duly compensated.
Each year lakhs of engineering students vie for just about 800 jobs in this PSU . But it's worth a try!
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
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.
Government will offload 9.5 per cent of its ownership.
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.
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.
Among the Sensex firms, State Bank of India, Infosys, Titan, Tech Mahindra, IndusInd Bank, NTPC, ICICI Bank, Power Grid, Reliance Industries and Kotak Mahindra Bank were the major laggards. On the other hand, Tata Motors, Nestle, Hindustan Unilever, Tata Steel, Bajaj Finance and UltraTech Cement were among the gainers.
Among the Sensex firms, Infosys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Wipro and JSW Steel were the major gainers during the morning deals. Nestle, Bharti Airtel, Axis Bank ITC were among the laggards.
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.
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.
Power Ministry on Tuesday held discussions with National Thermal Power Corporation and financial institutions, including IDBI, as part of efforts to restart power generation at the idle Enron-promoted Dabhol Power project.
The govt may offload 9.5 per cent stake and bring its holding down to 75 per cent.
At around 3 pm on Wednesday, India's daily peak power demand touched 220 gigawatts (Gw)-the highest daily peak ever in the history of the country. The ministry of power in its estimates had projected country's power demand to cross touch 220 Gw during the months of April-June. With a cooler April due to unseasonal rains, the peak shifted to May.
The Joshimath Bachao Sangharsh Samiti had given the call for the rally to press for demands of permanent rehabilitation and compensation to affected families.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
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