Ratnagiri Gas will be an equal JV between NTPC and GAIL if MSEB which has been offered a small stake does not pick up equity
Shares of Adani Group firms continued to remain weak for the seventh day running on Friday amid a host of negative events surrounding the companies. The stock of Adani Enterprises tumbled 20 per cent to Rs 1,173.55 -- its one-year low -- on the BSE. Shares of Adani Ports tanked 10 per cent, Adani Transmission (10 per cent), Adani Green Energy (10 per cent), Adani Power (5 per cent), Adani Total Gas (5 per cent), Adani Wilmar (4.99 per cent), NDTV (4.98 per cent), ACC (4.24 per cent) and Ambuja Cements (3 per cent).
After a $110 billion rout in market value, embattled Adani group got some reprieve on Tuesday after shares of most of its listed firms rebounded on bourses and international rating agencies said there was no credit risk for lenders with exposure to the group. The group, which is in the midst of a political storm after US-based short-seller Hindenburg Research's adverse report dated January 24 triggered a meltdown in group stocks wiping out billions of dollars in market value, also had a mixed day with the quarterly results of four of its entities, particularly Adani Ports and Special Economic Zone reporting a 12.94 per cent decline in consolidated net profit to Rs 1,336.51 crore for the December quarter 2022. Shares of flagship firm Adani Enterprises settled nearly 15 per cent higher at Rs 1,802.50 apiece while shares of Adani Wilmar jumped 5 per cent to end at Rs 399.40 on BSE.
So far, GMTS has defaulted on the supply of more than 20 cargoes or shiploads, 13 of which were set to be received in the second quarter (July-September), officials said.
The Bharatiya Janata Party has been the biggest beneficiary of donations from the Satya Electoral Trust.
All India electricity generation in the country during 2011-12 has been 876.89 BU, the report of the highlights of this review that was released by CEA recently, said.
Prime Minister Manmohan Singh on Wednesday said the government will tackle the electricity theft and distribution losses on a war-footing and work for a broad national consensus on power distribution and pricing reforms.
Amid multiple sectoral woes, India is projected to see an electricity supply shortfall of 6.7 per cent in the current fiscal with the Southern region expected to be the worst hit.
Tata Power Company Ltd has won a contract worth Rs 49 crore (Rs 490 million) from state-run Power Grid Corporation of India, the Bombay Stock Exchange said on Tuesday.
"Hooking" is an endemic crime -- if you live in India, you've used "hooked" power.
Lack of infrastructure and inefficient transmission systems are the biggest problems.
Son's offer to supply free power after 25 years is based on the idea that the cost of running a solar plant would progressively decline while its efficiency would increase.
From the Sensex pack, ITC jumped 4.74 per cent. The other major gainers were IndusInd Bank, Hindustan Unilever, Infosys, Wipro, HCL Technologies, Tata Consultancy Services and ICICI Bank. HDFC, Tata Steel, Bajaj Finance, NTPC, Power Grid and HDFC Bank were the major laggards.
Elections to the 40-member Goa Assembly are due in two months. Recent visits by Banerjee, Kejriwal and Prime Minister Narendra Modi heated up things in the otherwise "susegad" atmosphere in the small state.
The Chevrolet TrailBlazer is the most powerful SUV in its class and offers great road presence.
The Virtus is indeed designed to look, act and behave like a well-built European sedan that swims in the segment between the compact sedan VW Vento and the larger Passat, says Pavan Lall.
The country's fast growing power sector has the potential to create as many as six lakh jobs during the 12th Five-Year Plan period (2012-17), a top government official said.
The country faced a major power crisis for the second consecutive day as three grids serving northern, eastern and northeastern regions failed on Tuesday afternoon, leading to 200 coal miners getting trapped in West Bengal and throwing normal life out of gear in 22 states.
In the short term for next five years till 2020, the sector is likely to attract nearly $250 billion.
Power Minister Piyush Goyal is keen to revive the energy sector.
Power Minister Piyush Goyal is keen to revive the energy sector.
India suffers from peak power deficit of three per cent.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
Bharatiya Janata Party MP Varun Gandhi on Monday cited a Centre's note to criticise the decision of several states, including Uttar Pradesh, to impose night curfew to curb COVID.
Shares of most of the Adani group firms ended lower on Monday, a day after it released a 413-page response to allegations of wrongdoing brought by a US-based short seller Hindenburg Research.
Shares of Adani group firms have faced heavy drubbing since Tuesday's close last week, after US-based short seller Hindenburg Research made damaging allegations against the conglomerate. Most of the group firms fell for the third day running on Monday. Since Tuesday's close last week, shares of Adani Transmission have tumbled 41.66 per cent, Adani Total Gas tanked 39.57 per cent, Adani Green Energy declined 37.55 per cent and Adani Ports fell 23.75 per cent on the BSE.
Capital goods stocks rallied nearly 16 per cent since January on purchases by foreign institutional investors and in anticipation of a change of government at the Centre.
PGCIL planned to take a loan of about $2 billion (Rs 8,350 crore) from World Bank and $1 billion (Rs 4,150 crore) from Asian Development Bank, Power Minister Sushilkumar Shinde told Rajya Sabha in a written reply.
India's power sector faces annual losses of $27 billion by 2017 unless sweeping reforms are taken to tackle inefficient subsidies, theft and political meddling in utility companies, the World Bank said.
The Maharashtra government has invoked the MESMA barring employees of state-run electricity companies from joining the protest.
India's first solar mission, if successful, will showcase ISRO's ability to explore the cosmos, explains Kumar Abishek.
A circular power grid connecting the northern region to the western grid would be a major component. The grid would cover Seepath, Zeoni, Bina, Gwalior, Agra, Fathepur, Sasaram, Gaya and Ranchi, connecting back to Seepath in North India.
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
The lowest bid earlier had come for Madhya Pradesh at Rs 5.05/unit.
Transmission and distribution losses had resulted in losses of around Rs 2,000 to Rs 2,500 crore (Rs 20 -25 billion) to the Maharashtra State Electricity Board, Energy Minister Dilip Valse-Patil informed the state assembly on Wednesday.
Adani Group is exploring legal options after being slapped with a Rs 5,500-crore tax notice, allegedly for overvaluing imported equipment, by the Mumbai wing of the Directorate of Revenue Intelligence.
However, the budget lacked very specific measures detailing how this will be achieved," the statement said.
The Adani group stocks continued to remain under pressure on Friday, falling up to 20 per cent in morning trade, after the US-based investment research firm Hindenburg Research made damaging allegations. Shares of Adani Total Gas plummeted 19.65 per cent, Adani Transmission tumbled 19 per cent, Adani Green Energy plunged 15.50 per cent and Adani Enterprises tanked 6.19 per cent on the BSE. Also, Adani Ports and Special Economic Zone fell 5.31 per cent, Adani Wilmar dipped 5 per cent and Adani Power declined 4.99 per cent.
The N K Singh task force on power sector reforms has proposed wide-ranging fiscal measures, including cut in customs duty, abolition of special ad valorem duty and tax holiday to step up investments in a bid to bring down tariffs.
