The Supreme Court order on what to do with the coal blocks allotted to power companies between 1993 and 2013, which it has already termed illegal, is likely on Tuesday.
The National Academy of Sciences, in a recent report, has warned that terrorists can cause black outs in large parts of the United States by attacking the power grid. The report adds that terrorists can also blow up substations or transmission lines with explosives, causing major damage.
If nothing is done, the country is set to become 83 per cent energy-import-dependent by 2040.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
The OCCRP report alleges that at one point, EIFF and EMRF held free-floating shares ranging from 8 per cent to nearly 14 per cent in the four Adani Group companies.
The Indian Air Force played a major role for the quick repair of the snapped transmission lines following the recent snowfall, restoring power to the Kashmir valley.
Assuring the nation that massive power outage due to transmission grid failure will not recur, Power Minister Veerappa Moily on Wednesday said he has called a meeting of chief ministers of some of the affected states on August 6. "Now there is absolute normalcy, 100 per cent restoration has taken place and I can reassure the entire nation that what has happened all these two-three days will not recur. Nothing will happen again," Moily said.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
The power minister also stressed that last year's grid failure, which saw nearly half of the country going without electricity for hours on two consecutive days in July, happened because of huge overdrawals in defiance of rules.
Conserving energy, the prime minister said, is the need of the hour.
Gujarat, Haryana and Orissa, on the other hand, are tightening the monitoring mechanism to firmly tackle the problem. Similarly, Delhi, where the losses have come down to around 16 per cent from 60 per cent before privatisation, has increased policing to avoid tampering of meters and thefts.
Gautam Adani on Tuesday said his ports-to-energy conglomerate never slowed or stopped investing in the country as the group's success is based on its alignment with the India growth story. Speaking at the annual shareholder meeting of the group companies, he said the previously announced $70 billion investment in new energy business will help turn India from being a net importer of oil and gas to an exporter of clean energy. "Never have we walked away from investing in India, never have we slowed our investments," he said. "We believe our scale, our diversified business, and our track record of performance positions us very strongly to continue to perform well in a variety of market conditions."
Delhi Congress chief Arvinder Singh Lovely along with scores of party workers was detained on Saturday in the Nangloi area of north Delhi when they tried to block movement of trains as part of the party's agitation against prolonged power cuts and water scarcity in the city.
Union Budget 2009-10 has been mildly positive for the power sector.
With the country facing a massive electricity shortage, government asked the states on Tuesday to pull out all stops to setting up captive power plants -- surplus from which could be diverted for public consumption.
Siemens reported solid results in the July-September quarter (fourth quarter, or Q4) of 2022-23 (FY23), with the top line growing 25 per cent year-on-year (Y-o-Y) to Rs 5,808 crore. The operating profit margin stood at 12.1 per cent, led by lower employee costs and other operating expenses. The company follows the October-September financial year.
Ahmedabad-based firm's 'intelligent energy monitoring unit' enables firms to keep a tab on power consumption.
If you are planning to buy an electric car in the near future, it would be highly advisable to wait for these upcoming electric SUVs.
A victory will consolidate the position of not just the PM but also of his lieutenant BJP President Amit Shah, says Archis Mohan.
Cities are setting the rules that now carry life and death implications for their residents, and most of these rules are sought to be set by the municipal authorities who have never wielded such power, reports Subhomoy Bhattacharjee.
In the broader market, the S&P BSE Midcap ended 0.1% down, while the S&P BSE Smallcap index gained 0.3%.
Prime Minister Manmohan Singh has asked the Cabinet Committee on Economic Affairs to decide on a Planning Commission proposal to allocate a portion of power generated from Centrally-owned utilities for open access to large consumers.
Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report.
State-run transmission company Power Grid Corporation on Wednesday said that its follow-on public offer, which aims to raise about Rs 8,600 crore (Rs 86 billion), would hit the market in the second week of November.
The company estimates a Rs 350-400-crore (Rs 3.5-4 billion) revenue potential from the telecom business in the next 4-5 years.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
The minister said the government is committed to preventing widespread coal thefts by use of CCTV cameras.
Shares of eight of the ten listed firms of the Adani Group ended with gains on Tuesday after taking a beating in recent sessions. Adani Enterprises stock jumped 14.22 per cent to settle at Rs 1,364.05 on the BSE. During the day, it rallied 19 per cent to Rs 1,421.95.
An exercise to rationalise coal linkages which will optimize transport of coal and reduce cost of power is underway.
The Cabinet Committee on Economic Affairs gave its nod to the 20 per cent follow-on offer by PowerGrid, an official statement said.
The attack, worth over Rs 50,000 crore ($10 billion), has been in the works for quite some time but actually began in July last year, when the Revised Accelerated Power Development and Reform Programme was approved by the Cabinet. Given the problems that were faced by the original APDRP programme, the focus this time around is on 'actual demonstrable performance in terms of sustained loss reduction'.
The government's only programme to attack transmission and distribution losses - called the Accelerated Power Development and Reform Programme (APDRP) - lapsed last year and the proposed "new APDRP" has been bounced back and forth between the ministry of power, Planning Commission and the finance ministry for the last few months.
Following are the key points of the three criminal law bills, that were passed by the Lok Sabha on Wednesday and seek to replace the Indian Penal Code (IPC), the Code of Criminal Procedure (CrPC) and the Evidence Act.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Indian power industry has registered 15.5 per cent growth during April-December 2005. This was declared by Indian Electrical and Electronics Manufacturers' Association on Tuesday.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
