He also said that efforts were on to increase the use of natural gas by four times in this decade and to double the oil refining capacity in the next five years.
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
Indian Oil Corporation (IOC), the nation's largest oil firm, has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia's Rosneft, the Russian oil producer said. IOC had in February 2020 signed a deal with Rosneft Oil Company to import up to 2 million tonnes of oil via the port of Novorossiysk. In 2021, the deal envisaged supply of up to 1.7 million tonnes of crude oil but IOC bought just on parcel or shipload as the cost of transporting the oil made it uneconomical, when compared to alternatives. For 2022, the deal is for the supply of up to 2 million tonnes of oil from the Black Sea port of Novorossiysk.
Adani group firm Adani Ports & SEZ paid Rs 1,500 crore loan and promised to repay more as the embattled conglomerate mapped a comeback strategy after a sellout triggered by a damning report by US-based Hindenburg Research. Adani Ports and SEZ paid SBI Mutual Funds' due amount of Rs 1,500 crore on Monday and will also pay another Rs 1,000 crore of commercial papers due in March (as per the payment scheme), a company spokesperson said. "This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said.
Clickpower.in enables consumers and generators to explore the best available options.
The embattled Adani Group on Monday attempted to calm the market as a rout in its shares continued, saying its growth plans are intact, business plans are fully funded and it remains confident of delivering returns to shareholders. Market value of the group's seven listed companies has halved since a January 24 report by US-based short-seller Hindenburg Research alleged that Adani pulled "the largest con in corporate history" using offshore tax havens and stock manipulation. The Group has denied all allegations, calling them "malicious", "baseless" and a "calculated attack on India".
The Mahindra group's Igatpuri plant becomes the first in India to be declared carbon-neutral. Ashish Narsale / Rediff.com finds out how this was achieved.
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
'In a special gesture, UAE President and Ruler of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan, accompanied by senior members of the Royal Family, was at Abu Dhabi airport for the interaction with PM'
Diwali fireworks are expected to continue on Dalal Street next week, with four companies collectively seeking to mobilise over Rs 6,600 crore through initial public offerings (IPOs). In terms of the amount raised, this is poised to be the busiest week of calendar year 2023. Tata Technologies (Tata Tech), a subsidiary of Tata Motors, could lead the charge with an IPO projected to be over Rs 2,900 crore. This will mark the first maiden share sale by a Tata Group firm in nearly two decades.
Reliance Industries' (RIL's) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein's latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company's telecom arm, at $77 billion and the renewable energy business at $17 billion.
Moody's Ratings on Tuesday said India's growing water shortage can disrupt farm and industry sectors and is detrimental to the credit health of the sovereign as rising food inflation and decline in income may spark social unrest. It said decreases in water supply can disrupt agricultural production and industrial operations, resulting in inflation in food prices and hence can be detrimental to credit health of sectors that heavily consume water, such as coal power generators and steel-makers.
The country must get its act on global alliances right in order to feed its fuel-hungry economy, points out Subhomoy Bhattacharjee.
'India has a skill shortage of 56%.' 'This is a very interesting paradox -- the unemployment rate is 6% to 7%, and at the same time 20% of those qualified are unemployed.'
India has an unprecedented opportunity to develop solar industry because like China, it offers scale which is critical to reducing costs and to stimulate innovation, says Shyam Saran.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
Merger of the three key ministries is expected to help in removing the hurdles in these areas.
Reliance Industries Limited on Wednesday became the first Indian company to hit the Rs 19 lakh crore market valuation mark following a rally in its share price. The market heavyweight stock jumped 1.85 per cent to its record high of Rs 2,827.10 on the BSE. Following the gain in the share price, the company's market valuation jumped to Rs 19,12,814 crore in morning trade on the BSE.
As a special gesture, Frederiksen received Modi at the airport. He arrived in Copenhagen from Germany.
Housing sales declined 5 per cent in the July-September quarter across the top eight cities due to a fall in new supply and sharp appreciation in prices, according to PropTiger. Real estate brokerage platform PropTiger.com, which is part of Australia's REA group that owns Housing.com, on Tuesday, released its report 'Real Insight' on India's residential market. A total of 96,544 units were sold in July-September, down 5 per cent from 1,01,221 units sold during the same period in 2023.
Piyush Goyal is leading a delegation to deliberate with Australia.
India and France on Friday signed 17 agreements, including on the stalled nuclear project in Jaitapur in Maharashtra, after Prime Minister Narendra Modi held wide-ranging talks with French President Francois Hollande.
Narendra Modi is India's most successful prime minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years.
President Droupadi Murmu on Monday asked scientists and policymakers across the world to give special attention to global warming and climate change which are leading to flash floods and droughts, warning that a "culture of greed" is taking "the world away from nature".
As soon as the House met at 2 pm, papers were laid on the table and two resolutions adopted amid slogan shouting and protest by Congress members.
Minister of state for power Piyush Goyal will gift wooden-framed 'appreciation letters' to one million govt employees.
'With technology advancing, we should go all out and put up solar, wind, pumped storage, and battery, and make India go green.'
France's TotalEnergies has put on hold a planned investment in Adani Group's $50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller, chief executive Patrick Pouyann said on Wednesday. While the partnership where the French oil giant was to take a 25 per cent stake in the hydrogen venture of the Adani group was announced in June last year, TotalEnergies has not yet signed a contract, he said at an earnings call. "Obviously, the hydrogen project will be put on hold until we have clarity" from Adani group on the allegation levelled by US short-seller Hindenburg Research, Pouyanne said.
Adani Enterprises became the fourth listed company of Gautam Adani Group to cross Rs 4 trillion market capitalisation (market cap), as the stock hit a new high on the BSE in Tuesday's intra-day trade. At 01:24 pm; with Rs 4.04 trillion market cap, Adani Enterprises stood at number 15th position in overall market cap ranking on the BSE, data shows. Adani Transmission is at top of the group companies list, with market cap of Rs 4.48 trillion, followed by Adani Total Gas (Rs 3.96 trillion), and Adani Green Energy (Rs 3.72 trillion).
Centre mulls strategy to ensure powers given to the agencies are not misused.
Bengaluru recorded the highest green building stock at 140 million square feet, followed by Delhi-National Capital Region at 74 msf, and Hyderabad at 72 msf for Grade A office buildings as of September 2023.
Shares of Adani Green Energy (AGEL) continued their upward movement, hitting a new high of Rs 1,955.90, up 2.6 per cent on the BSE in Wednesday's intra-day trade in an otherwise weak market. The S&P BSE Sensex was down 0.77 per cent at 60,285 at 11:01 am. In the past 14 trading sessions, the stock of the renewable energy arm of the diversified Adani Group has zoomed 50 per cent from Rs 1,307.05 on December 30, 2021. In comparison, the S&P BSE Sensex was up 4.3 per cent during the same period.
From Mumbai to Silvassa in Daman, and back.
A powerful senatorial committee on Wednesday is set to consider a bipartisan resolution to recognise Arunachal Pradesh as an integral part of India, pushing back against China's military aggression to change the status quo along the Line of Actual Control.
In the October-December quarter (Q3) of FY24, Hindalco reported flat consolidated revenue year-on-year (Y-o-Y) at Rs 52,800 crore. Copper revenue rose due to higher shipments and better Average Selling Price (ASP). Revenue from the aluminium vertical and Novelis declined 3 per cent and 6 per cent Y-o-Y, respectively.
Prime Minister Narendra Modi on Thursday said India and Italy have decided to elevate their bilateral ties to a strategic partnership, opening a new chapter on defence cooperation.
Duty cut on raw material imports are not likely.
RIL subsidiary Reliance New Energy Solar, Ola Electric, Hyundai Global Motors Company and Rajesh Exports have been approved for receiving incentives under the Rs 18,100 crore Production Linked Incentive (PLI) scheme for battery manufacturing in India, sources said on Thursday. "The ministry had received bids from 10 companies with a capacity of 130 GWh. Reliance, Ola Electric, Hyundai and Rajesh Exports have qualified for ACC batteries," a source said. Other companies which had applied for the PLI scheme for Advanced Chemistry Cell (ACC) batteries were Lucas-TVS, Mahindra & Mahindra, Amara Raja Batteries, Exide Industries, Larsen & Toubro and India Power Corporation Limited.
Vasseur and his compatriot Nicolas Todt, son of Jean and manager of Ferrari's Monegasque driver Charles Leclerc, are close and founded the junior series ART racing team together.
The World Meteorological Organisation (WMO) has officially confirmed that 2023 is the hottest year on record by a huge margin, smashing global temperature records.
