BUSINESS
NTPC to form new green energy arm for monetisation by October
The power utility plans capex of Rs 22,454 crore in FY23 and has firmed up plans for another Rs 18,921 of capex in FY24, which may increase going ahead.
BUSINESS
L&T Q3 results | Profit, new orders dip but order pipeline remains strong, says CFO
CFO says the company has a "reasonable chance that we should still have a fighting chance" to meet FY22 guidance.
BUSINESS
ReNew Power sells rooftop portfolio for Rs 672 crore, sets sights on larger projects
The company says the sale of business is a part of its increased focus on projects with higher-return and large-scale opportunities.
BUSINESS
L&T ties up with Norwegian company for electrolyzer technology to push green hydrogen plans
Prior to this, L&T tied up with Nasdaq-listed ReNew Power to jointly develop, own, execute and operate green hydrogen projects in India.
BUSINESS
Budget 2022: Thermal power companies eye coal-cess cut, signals on GST for electricity
Power companies are hopeful that the Union Budget will waive or reduce the cess of Rs 400 per tonne of coal used in generating units that meet emission norms.
BUSINESS
Explainer: Why is PTC India Financial Services under the scanner for corporate governance?
The Securities and Exchange Board of India has pulled up PFS, barring the non-banking financial company from holding a board meeting until it addresses the corporate governance issues and submits a report on action taken within four weeks
BUSINESS
SEBI bars board meeting till action report filed in 4 weeks, PTC India Financial tells bourses
PFS had sought for exemption to hold a board meeting since three of its independent directors quit together on January 19, citing lapses in corporate governance and compliance
BUSINESS
Exclusive: SEBI pulls up PTC India Financial, says no board meeting till corporate governance issue addressed
The company received an email on Saturday from the regulator, ahead of its board meeting which was scheduled for later in the day
BUSINESS
More trouble for PTC India as independent director quits after three board exits in arm over corporate governance issues
Former bureaucrat Rakesh Kacker resigned late Friday. He was also an independent director at the arm PFS until end-December and had written to the management highlighting lapses in corporate governance.
BUSINESS
RIL Q3 net soars 38% as both energy, consumer businesses clock robust growth
The net profit of the company was boosted by a one-time gain of Rs 2,836 crore from sale of its upstream shale gas assets in Eagleford in Texas, USA.
BUSINESS
PTC India sets up internal probe committee for NBFC arm; questions intent of independent director’s resignation
PTC India and PTC India Financial Services raised questions about the “factual errors” in the allegations made by the directors and timing of the coordinated resignations that cite instances from an older period.
BUSINESS
Exclusive | PTC India head refutes allegations of independent directors who resigned from subsidiary, open to probe
The independent directors claimed there were serious corporate governance lapses at PTC India Financial Services and that they were being blatantly ignored.
BUSINESS
ReNew Power pairs up with US's Fluence over energy storage
ReNew has already been working on stationary energy storage space through its intelligent energy solution portfolio
BUSINESS
Indian Oil Corp buys close to 5% stake in Indian Gas Exchange
The IEX and National Stock Exchange promoted gas exchange already has other strategic investors such as GAIL (India) Ltd, ONGC Ltd, Torrent Gas Pvt Ltd and Adani Total Gas Ltd.
BUSINESS
JSW Energy will invest Rs 10,000 crore on capex every year for next 10 years: CEO
After the reorganisation, the thermal power business will have 3,200 mw under JSW Energy, rest of the 1,400 mw of capacity and another 2,500 mw under construction will be the renewable energy capacity under the subsidiary JSW Neo Energy, says Joint Managing Director and Chief Executive Officer Prashant Jain.
BUSINESS
Crude oil prices hit 7-year high; Goldman Sachs sees it at $100 by third quarter 2022
Brokerage Goldman Sachs said in a note that it sees Brent prices at $90 per barrel in the first quarter of 2022, $95 in the second quarter and $100 per barrel in the last two quarters of the year.
BUSINESS
Exclusive | JSW Infra will be a listed port company in two years: CEO
The company, which initially set up as a captive port business to support JSW’s other businesses, now has a capacity of 173.2 million ton per annum (MTPA) with 9 ports and terminals under operation across the east, west and south of India. .
BUSINESS
RIL commits Rs 5.95 lakh crore investment in Gujarat on clean energy, Jio, other businesses
The company will invest to help Gujarat turn 'net zero' and create 10 lakh jobs in Gujarat going ahead.
BUSINESS
Tata Power Renewables to grow five-fold in 5 years: Ashish Khanna
Ashish Khanna doesn’t think that conglomerates will call the shots – this is a decade for renewables and there is enough for everyone.
BUSINESS
L&T bags third order for Mumbai-Ahmedabad bullet train project
While the company did not disclose the exact order size, it said it was in the range of Rs 1,000-2,500 crore.
BUSINESS
RIL to acquire New York’s luxury hotel Mandarin Oriental for $98 million
This acquisition is a part of RIL’s strategy to expand its consumer and hospitality footprint.
BUSINESS
Oil and gas PSUs, regulator face uncertainty over top appointments
Maharatnas ONGC and BPCL, regulator PNGRB, the Petroleum Ministry itself and even government headhunter PESB have seen top positions lying vacant for long periods, forcing them to manage with temporary arrangements.
BUSINESS
RIL raises $4 billion in US dollar bonds, the largest such issue by an Indian corporate
The proceeds will mainly be used for refinancing of existing borrowings
BUSINESS
Coal India April-December capex up 37.4% y-o-y; target missed
CIL aims to boost coal stock at thermal power plants to over 45 million tons by the end of the ongoing fiscal, the highest ever closing stock at these plants.
