BUSINESS
OMCs up ethanol procurement price as part of 6-months relief package
There is no change in the basic price of ethanol from the different feedstock and the vendors have to maintain the prevailing rates in the invoices.
BUSINESS
Govt chalks out offshore wind bid timeline even as India’s power demand touches new high
India’s power demand hit an all-time high of 210.8 gigawatts (GW) on June 9, driven by a spike in demand from households amid an ongoing heat wave and a pick-up in industrial demand.
BUSINESS
After maiden coal import tender, Coal India gears up for a second tender to boost domestic supplies
While Coal India has little experience in importing coal, the government has roped it in to import coal to supplement coal availability after the country faced a power outages in parts in March-April due to fuel supply constraints. There are concerns over coal availability after monsoon.
BUSINESS
After beating 10% ethanol blending target, India hopes some pumps will sell 20% blended fuel ahead of target
Union minister for petroleum and natural gas Hardeep Singh Puri said on June 6 that some petrol pumps in the country may be able to sell 20% ethanol blended petrol ahead of the April 2023 target.
BUSINESS
ONGC to finalise collaboration with global exploration and production players before FY23-end
Mittal hit the ground running and identified collaborations for exploration and production and a thrust on technology as key areas to steer and scale up the state-owned energy company as India strives for energy security
BUSINESS
Coal issue cannot be resolved sitting in Delhi, Centre should work with states, Coal India: Former coal secretary Anil Swarup
" For the two years as coal secretary, I did not convene a single meeting in Delhi. I used to travel to each state where coal exists once in two months to engage with the chief secretary, senior officers and with all the district magistrates on video conference, and discuss the big issues relating to land acquisition and forest and environment clearance."
BUSINESS
GAIL will spend Rs 30,000 crore in 3 years, to focus more on petrochemicals, clean energy: Chairman
The company is setting up a Rs 230 crore project in Madhya Pradesh to be ready with green hydrogen in 18 months from now
BUSINESS
ONGC to step up capex on exploration, does not expect windfall tax: CMD Mittal
ONGC has set an ambitious target to double its upstream production, triple the refining capacity, develop 1 gigawatt of renewable energy capacity, and set up a $1 billion corpus for new frontier opportunities by 2040.
BUSINESS
Infra firms don’t expect govt move to rein in steel prices to have immediate impact
The industry expects steel prices to soften only over the next few quarters, which may subsequently reflect in the cost of projects.
BUSINESS
Power Ministry announces new scheme for discoms to pay off dues, industry has questions over financing
The ministry is hopeful that the new scheme would provide the much-needed liquidity to the power generating companies, and the measures being planned will ensure that discoms pay their dues regularly.
BUSINESS
Steelmakers want government to revisit duty, say local market can't absorb export volumes
Indian exporters were already facing pricing pressure when the government announced the export duty, which is aimed at curbing exports to boost domestic supply.
BUSINESS
PowerShock | Power capacity has grown, yet deficit persists. Here’s India’s power story in charts
There are fundamental issues in the power sector that need resolution. Moneycontrol is doing a special series on it — the PowerShock. This special infographic story will tell you about the hits and misses in the power sector that have led to this situation
BUSINESS
Explained: Centre cuts excise duty on petrol, diesel. Could prices come down more or will they rise again?
With the excise duty cut alone, the effective retail price of petrol will be reduced by around Rs 9.5 per litre and of diesel by Rs 7 per litre.
BUSINESS
Petrol pump dealers caution govt against OMCs rationing retail supply to curb their losses
Dealers said they have been asked to restrain sale to new customers as oil marketing companies are losing Rs 28 per litre on diesel and Rs 8 per litre on petrol.
BUSINESS
NTPC to add 5 GW capacity in FY23, 6 GW in FY24
A majority of the new addition would be coal-based; while global lenders are shying away from financing coal-based projects on climate change concerns, NTPC is confident of tying up finances from domestic lenders and bond issuance.
BUSINESS
Imported coal-based units ask for higher tariff to restart; Ministry of Power agrees to revisit rates set by committee: Sources
Around 8,000 megawatts of imported coal-based power plants are currently shut, as operations became unviable due to high coal prices.
BUSINESS
HPCL's Q4 net takes hit due to retail fuel price freeze; firm plans Rs 15,000 crore capex in FY23
The company’s downstream petroleum business reported revenue of Rs 105,236 crore in Q4FY22, up almost 24% on year. But the business saw its earnings before tax, interest income, interest expenditure, and dividend falling almost 44% year-on-year to Rs 2,261.67 crore.
BUSINESS
Imported coal-based power generators ask Power ministry for higher tariff to restart units: Sources
As power demand continues to soar even as power generators scramble for fuel, the government has asked all imported coal-based power units to run at full capacity by invoking Section 11 of the Electricity Act.
BUSINESS
Power situation easing, will be comfortable in May-August, September-November may be tough again: IEX Chairman Goel
"The government is taking actions to take care of the power supply requirement in the months of September-November. The months of November-February are the low demand periods so I don't see any challenges," Goel said.
BUSINESS
IOC Q4FY22 net profit declines due to petrochemical margin squeeze, loss in auto fuel sale
IOC’s pre-tax earnings from the sale of petroleum products declined by 8 percent to Rs 8,251.29 crore in the March quarter, while that for its petrochemicals business fell 72 percent to Rs 570.18 crore.
BUSINESS
L&T aims at doubling revenue and order inflow in five years
L&T aims at revenue of Rs 2.7 trillion by FY26 as against Rs 1.4 trillion in FY21. Order inflow target is set at Rs 3.4 crore by FY26, as against Rs 1.7 crore in FY21.
BUSINESS
L&T aims to go zero-debt by end-FY23, selling off two non-core businesses, says CEO Subrahmanyan
The company has made significant progress in divesting three of its non-core businesses, one of which is the loss-making L&T Metro Rail (Hyderabad).
BUSINESS
SEBI tells PTC India Financial not to make changes in board until forensic probe completed
The forensic report is investigating the allegations made by three independent directors who resigned together from the company in January.
BUSINESS
Interview | With eyes on revenue of Rs 2.73 lakh crore by FY26, L&T will execute strategic plan to focus on core, technology and talent: CEO
In an exclusive interview with Moneycontrol, L&T CEO SN Subrahmanyan talks about the road ahead, aspirations to be zero debt and a clean energy solutions provider, and how he is incubating startups within one of India’s oldest infrastructure groups.
