BUSINESS
Megha Engineering beats L&T to bag Rs 14,400-crore Thane-Borivali twin tunnel project
MEIL was the lowest bidder at Rs 7,464 crore for ‘Package 1’ which entails designing and construction of 5.75 kilometers from the Borivali side for the twin tunnel project. L&T’s bid for ‘Package 2’ was Rs 6,625 crore but it was rejected as the amount would have been higher to factor in the taxes, officials said.
BUSINESS
Eyeing order pipeline worth Rs 10 lakh cr, aim to maintain order win rate of 15-20%: L&T CFO
The CFO said that the leadership change announced by the company is expected to be seamless and the company is on track to achieve the goals set up in its five-year strategic plan, Lakshya’26.
BUSINESS
Succession Season Finale: L&T’s AM Naik steps down to make way for SN Subrahmanyan
L&T’s storied history is witness to how Naik built the company even as he faced, resisted, and succeeded in bitter takeover battles. “L&T has been my life,” Naik said in a statement announcing the change in leadership.
BUSINESS
L&T’s FY24 revenue growth seen at 12-15%, order intake growth at 10-12%: CFO
The engineering major's management is cautious of slowing ordering activity going ahead due to Union Elections that will take place in 2024.
BUSINESS
Lessors won't be able to repossess GoFirst aircraft if bankruptcy code kicks in
The lessors need to move carefully in this situation, and it is in their interest to let Go First go through the insolvency process and resolve the issues so that the aircraft can fly again, said aviation experts and lawyers.
BUSINESS
IOCL invokes Rs 500-crore bank guarantee by GoFirst, dues at Rs 50 crore now: Sources
According to sources, IOCL may consider selling fuel to GoFirst on a cash-and-carry basis going ahead when it resumes operations.
BUSINESS
Siemens will continue to invest, hire more in India to increase market share: Global CEO
Roland Busch says there is a war for talent in India as companies across the world are scouting for skilled manpower.
BUSINESS
L&T, MEIL emerge lowest bidders for Thane-Borivali twin tunnel project: Sources
The government is keen to start work on the project before monsoon. On completion, it will reduce the travel time from Thane to Borivali from 60 minutes to 15-20 minutes.
BUSINESS
Aim to keep debt, interest costs under check despite high interest rate environment: L&T CFO
In the interview with Moneycontrol, Raman spoke about global factors influencing business, his expectations of the Indian central bank and how L&T is navigating the high interest rate environment.
BUSINESS
Reliance, Tata Power, JSW Energy among 11 winners of Rs 13,937-cr solar cell project
The contract is for setting up 39.6 GW solar photovoltaic module manufacturing capacities under the second tranche of the PLI scheme of the government
BUSINESS
Russia-Ukraine conflict pushed countries to look at alternative fuel for energy security in the long term
While in the short run, the energy crisis drove countries to regress to coal, it simultaneously gave a reality check to governments across the world to put in place more enabling policies to boost energy transition.
BUSINESS
Hoping to make India a supply base for our global energy storage needs: Fluence CEO
The company's 150 MWh BESS will be commissioned by July-August in Karnataka.
BUSINESS
India needs to review Green Hydrogen policy in view of incentives offered by other countries: Sumant Sinha of ReNew Power
"Renewables is just one aspect of it. But I think, downstream, things beyond renewables—green hydrogen, for example—hopefully, will allow us to decrease this dependence on imports," said Sinha
BUSINESS
No plans of divesting BPCL, focus on energy transition: Minister Hardeep Singh Puri
On May 26, the government said that it has called off the ongoing process of strategic disinvestment of BPCL. The government said that the plan would be reinitiated after review.
BUSINESS
Hope to achieve ‘1-1-1 goal’ for Green hydrogen, petrochemicals to be integral part of Indian Oil's growth story: Chairman
Fossil fuels will continue to play a dominant role in our energy pie for many years to come, according to CMD Shrikant Madhav Vaidya.
INDIA
Govt taking strenuous steps to scale up oil exploration, production: Oil Minister Puri
The minister clarified on the Budget fine prints stating that the Rs 35,000 crore earmarked for the ministry for energy transition and security does not include the compensation to OMCs for losses made on price freeze.
BUSINESS
Engineers India not scared of recession in West, sees good growth this fiscal: CMD Vartika Shukla
EIL’s order book as of December 2022 stood at Rs 78,656 crore, 57 percent of the company’s order book was made up of consultancy projects while the remaining were turnkey projects, according to an investor presentation made by the company on February 4.
BUSINESS
Southeast Asia will be the growth engine of energy demand in the future: IEF secretary general
The key to solving the climate issue is building technology and alternatives to hydrocarbons, and India has a huge role to play here, says Joseph McMonigle, secretary general of the International Energy Forum.
BUSINESS
Oil price will continue to remain volatile: Oil India CMD
Ranjith Rath, the Oil India chairman and managing director, India spoke to Moneycontrol discussing crude oil prices, investment plans and expectations from the India Energy Week.
BUSINESS
This year will be challenging, especially for energy-importing countries: IEA chief
Birol says clean energy is growing very strongly, but the oil and gas markets are still volatile
BUSINESS
Eyeing Rs 50,000-cr investment for 10 GW renewable energy capacity by 2040: BPCL's Shelly Abraham
Bharat Petroleum Corporation Limited is one of the first oil sector PSUs to have built a separate vertical for renewable energy. The head of the RE wing speaks to Moneycontrol about the journey ahead.
BUSINESS
Orders, execution momentum may remain strong till FY24: L&T CFO
The margin profile is expected to look up because the contracts won in the last six months were better priced, taking into account inflated material costs.
BUSINESS
BPCL cautious on EU price cap on Russian oil products: Sukhmal Jain
Jain believes the worst is behind in terms of volatility in crude oil prices. He expects prices to hover in the range of $75 to $90 a barrel in the near future.
BUSINESS
Budget 2023: The curious case of National Monetisation Pipeline's omission
Industry experts believe that the government has struggled to ramp up the execution of the monetisation plan and get the private sector enthused about it.
