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The four-day, Kotak Institutional Equities-Chasing Growth Conference is underway in Mumbai. In an interview to CNBC-TV18, Rajnish Kumar, Chairman of State Bank of India (SBI), from the sidelines of the conference, spoke about the latest happenings in SBI and also shared his views on the fraud at Punjab National Bank (PNB).
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Man Industries (India) is in focus on the back of Rs 925 crore order win from GAIL India. In an interview to CNBC-TV18, RC Mansukhani, Chairman of the company discussed about this and more.
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The CERAWeek India Energy Forum is underway in New Delhi; CNBC-TV18's Nithya Balakrishnan caught up with Prabhat Singh of Petronet LNG and asked him about the status of the Kochi terminal project and other developments.
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In an interview to CNBC-TV18, Satpal Garg, Board Member of Petroleum and Natural Gas Regulatory Board (PNGRB) spoke at length about the unified tariff.
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In an interview to CNBC-TV18, Prabhat Singh, MD & CEO and RK Garg, Director-Finance at Petronet LNG spoke about the results and gave their outlook for the company.
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"The long-term deals will be in sync with the oil, the way oil prices goes but you won‘t see the immediate impact because it has last three months or last 12 months average price of crude oil", BC Tripathi, CMD of GAIL told CNBC-TV18 in an interview.
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Since procurement and sales are pre-decided by long-term contracts, movements in spot LNG prices do not impact them, said RK Garg, Director of Finance, Petronet LNG.
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IL&FS Engineering has bagged a Rs 165-crore pipeline-laying contract from GAIL. The company is attempting to maintain margins of around 12-13 percent for the pipeline which goes across Patna, Gaya and Dobhi, according to IL&FS management.
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LNG consumption, which is 40-45 million cubic meter per day, is expected to rise by
10 million cubic meter a day in current fiscal, says Prabhat Singh, MD & CEO of Petronet LNG.
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Rajeev Mathur, the MD of Mahanagar Gas expects the volume growth to be around 7-8 percent in the current fiscal.
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The LNG importer's Dahej terminal had maximum capacity utilisation for the fourth quarter, and will continue to clock 120 percent going forward, says RK Garg Director-Finance, Petronet LNG. He adds that Dahej and Hazira terminals will be the only terminals operating for 6 months.
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CR Prasad, Former CMD of GAIL points out that three new LNG plants are under construction on the eastern coast.
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IDBI Bank deputy MD BK Batra says RLNG facilities will be demerged into a separate SPV. "They needed additional investment for the capacity to be fully used to 80 cargos. It cannot be done unless break water facilities are there," he says
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It will have a positive impact on interest costs as our subsidy comes down to that extent, and also our cash flow for buying raw materials also comes down, Kapil Mehan of Zurai Agro said, adding that it was a marginal positive for the fertiliser industry in general
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Speaking to CNBC-TV18, Ex-ONGC head, RS Sharma said the development is a big negative and the government will have to work to revive formulation in order to promote the exploration and production (E&P) sector.
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Petronet's net profit stood at Rs 247.50 crore in the April-June quarter as compared to Rs 156.60 crore net profit in the same period a year ago.
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Prices of natural gas will be cut by 7.6 percent to USD 5.18/mmBtu from April 1.
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The Oil Ministry proposed a new subsidy sharing proposal by which upstream companies ONGC and Oil India would not make any contributions towards subsidy burden if crude prices are at or below USD 60 per barrel.
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In an interview to CNBC-TV18, Tripathi says the company has already paid Rs 1000 crore towards the oil subsidy mechanism, but it is unclear if it will be exempted from paying the same in FY16.
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BK Batra, executive director and group head-corporate banking, IDBI Bank says the lender banks-SBI, IDBI and ICICI- hold 24 percent equity of Ratnagiri Gas and Power Private Limited.
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The company has secured order wins from Cairn India and GAIL of around Rs 140 crore each.
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According to AK Balyan, Kerala government has taken the initiative to start the Kochi-Mangalore pipeline soon and the company is confident of significant progress by the end of this financial year.
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Gas Authority of India Limited (GAIL) feels that though the government's decision for no duty on imported gas for power generation, it should be implemented for all purposes, he told CNBC-TV18.
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Post the gas price hike, GAIL will invest significant capex in exploration activities as the price revision will boost its earnings.
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R K Garg, director finance of Petronet, says that as far as Petronet is concerned, our Kochi terminal is likely to be fully completed by March 2013. It would be connected to the phase I pipeline which is being completed by GAIL.
