GOOD EVENING INDIA

June 20, 2018, Wednesday

Your Evening News Updates From Across The Media Space

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Moody's cuts India's GDP growth forecast to 7.3 per cent

Moody's cuts India's GDP growth forecast to 7.3 per cent

Moody's Investors Service has cut India's GDP growth forecast to 7.3 per cent in 2018, from previous forecast of 7.5 per cent due to higher oil prices and tighter financial conditions.

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India outpaces China in Q1 2018: Fastest GDP growth since demonetisation, GST, says poll; what lies ahead

India outpaces China in Q1 2018: Fastest GDP growth since demonetisation, GST, says poll; what lies ahead

India’s economy probably gained a little momentum in the first three months of 2018 which should ensure that it remains the world’s fastest growing major economy, a Reuters poll found.

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More power to Modi! India’s power sector showed massive improvement in NDA-era; see chart

More power to Modi! India’s power sector showed massive improvement in NDA-era; see chart

The energy deficit in India’s power sector showed significant improvement in last four years, a report has shown. India’s energy deficit, which remained rangebound between 8% and 10% between during 2011-13, improved in FY14 to 4-4.5%, and subsequently contracted to 0.7%, a Care Ratings report has said.

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Flip side of Sterlite shutdown: Electrical products, pumpsets may cost more as copper turns dear

Flip side of Sterlite shutdown: Electrical products, pumpsets may cost more as copper turns dear

Get ready to pay more for your electrical products and pumpsets as prices and import of copper, a raw material used in making them, have gone up ever since the closure of Sterlite’s Tuticorin copper smelter on March 27 when the plant shut down for a 15-day scheduled maintenance turnaround.

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Vedanta prepares legal challenge to Tuticorin plant closure: Sources

Vedanta prepares legal challenge to Tuticorin plant closure: Sources

Vedanta Resources is working on a legal challenge to closure of its Tuticorin plant, but it will not proceed until tensions over the deaths of 13 people during protests last week have eased, two sources told Reuters.

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Expect good growth during FY19, says Coal India

Expect good growth during FY19, says Coal India

Coal India posted a mixed bag this quarter with a lot of one-offs. The street is awaiting a lot of clarity from the management. Samiran Dutta, chief manager - finance at Coal India shared his views and readings.

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Anti-Sterlite protests planned by vested parties, ready for any scrutiny: Vedanta

Anti-Sterlite protests planned by vested parties, ready for any scrutiny: Vedanta

The Tamil Nadu government on Monday announced a complete closure of the Sterlite Copper plant in Tuticorin. This was after police shot dead 13 people last week as the anti-Sterlite protest turned violent.

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India to face copper supply shock with Sterlite shutdown

India to face copper supply shock with Sterlite shutdown

India faces a copper supply shock after the Tamil Nadu government ordered billionaire Anil Agarwal’s Vedanta Ltd. to shut down a plant permanently, following deadly protests in a move that will slash nationwide output and stoke demand for imports.

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Wind power helps cut procurement from open market

Wind power helps cut procurement from open market

More electricity being generated from wind energy sources have provided a cushion to the state government, which has been drawing more and more power from the open market to meet rising demand. Power demand in Gujarat reached 16,810MW at 3pm on Tuesday.

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Lack of land title means no payment for solar power producers

Lack of land title means no payment for solar power producers

Solar energy developers have protested to the ministry of new and renewable energy against the Karnataka government for delaying clearance of land acquisition and using that as a reason to deny them payments for power supplied.

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Spring in BHEL’s profitability appears unsustainable

Spring in BHEL’s profitability appears unsustainable

Shares of Bharat Heavy Electricals Ltd (BHEL) rallied over 5% on Tuesday after it surprised the Street by reporting a sharp improvement in profitability for the March quarter (Q4). Its Ebitda (earnings before interest, taxes, depreciation and amortization) margin expanded 5.9 percentage points to 13.8% from a year ago, exceeding single-digit margin estimates of the Street.

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If one paisa cut in fuel prices is PM’s ‘prank’, it is in poor taste: Rahul

If one paisa cut in fuel prices is PM’s ‘prank’, it is in poor taste: Rahul

Congress president Rahul Gandhi on Wednesday slammed the one paisa cut in fuel prices, saying if this was Prime Minister Narendra Modi’s idea of a “prank”, it was “childish and in poor taste”.

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Rising oil prices: Govt will have to bite the bullet sooner than it wishes to

Rising oil prices: Govt will have to bite the bullet sooner than it wishes to

The retail prices of petrol and diesel eased a bit on Tuesday, a day after rising for the 16th straight day to touch a new high, fuelling more resentment and anxiety among consumers across India. Apart from a token cut in the excise duty rates, the government has so far adopted a wait-and-watch approach to an issue that has serious economic and political consequences.

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How surging diesel prices are adding to the stress of telcos

How surging diesel prices are adding to the stress of telcos

India’s mobile phone operators face a 5-10% hit on operating margins due to the increase in diesel prices, another setback for the telcos already under severe financial stress due to intense competition, analysts said.

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Petrol price cut faux pas has people fuming

Petrol price cut faux pas has people fuming

After continuous hike in fuel price for 16 consecutive days, there is 'a drop' in the rates- of one paisa. The Indian Oil Corporation (IOCL) in a statement clarified that the petrol prices in Delhi have gone down by one paisa and not 60 paisa, as reported earlier.

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Don't Vent Your Anger On Modi For Fuel, Your CM Is Responsible Too

Don't Vent Your Anger On Modi For Fuel, Your CM Is Responsible Too

The Narendra Modi government at the Centre is receiving flak from the public over the sudden spike in fuel prices in a few weeks after the Karnataka assembly elections.

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Think petrol is the only thing hurting? 3 reasons why June will be rough for you

Think petrol is the only thing hurting? 3 reasons why June will be rough for you

Come June, and consumers are going to be hit by a volley of price hikes. Steep hike in fuel prices does not burn a hole in the pockets of only those who buy fuel. Every consumer is impacted by a hike in fuel price because fuel is what the economy runs on.

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Short-lived relief! IOC cites clerical error, says fuel prices cut by 1 paise, not 60

Short-lived relief! IOC cites clerical error, says fuel prices cut by 1 paise, not 60

The happiness over a fuel price cut was shortlived. Minutes after the Indian Oil Corp claimed that it had cut the prices by 60 paise, the country's top refiner issued a clarification saying the cut was by 1 paise.

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IOC Trims Early Losses After Auto Fuel Price Cut Revised To 1 Paisa/litre

IOC Trims Early Losses After Auto Fuel Price Cut Revised To 1 Paisa/litre

IOC shares cut losses marginally after the company said that auto fuel prices were each cut by just one paisa a litre. Earlier in the day, Indian Oil had published that petrol prices were cut by 60 paise and diesel by 56 paise in the capital.

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Petrol, diesel prices in Kerala slashed from June 1

Petrol, diesel prices in Kerala slashed from June 1

Petrol and diesel prices in Kerala will fall from June 1 as the state government has decided to slash fuel price by Rs 1 a litre on Wednesday. The decision to cut tax on fuel has been taken in a cabinet decision. With this, Kerala has become the first to slash taxes on fuel prices after the recent rally.

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BPCL appoints K Sivakumar as CFO

BPCL appoints K Sivakumar as CFO

State-run Bharat Petroleum Corporation Ltd (BPCL) today said it has appointed K Sivakumar as its chief financial officer. "...K Sivakumar has been appointed as the chief financial officer with effect from May 29, 2018," BPCL said in a BSE filing.

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Oil prices edge down amid worries Saudi Arabia, Russia could up supply

Oil prices edge down amid worries Saudi Arabia, Russia could up supply

Oil prices inched down on Wednesday amid concerns that Saudi Arabia and Russia will pump more crude in the second half of the year in response to falling global crude inventories and rising consumer prices.

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Major relief or comic relief? Petrol prices cut only by 1 paisa not 59 paisa; check latest prices

Major relief or comic relief? Petrol prices cut only by 1 paisa not 59 paisa; check latest prices

Petrol prices today: The big cut in petrol prices, initially touted as a major relief for the common man, turned out to be a comic relief after after IOC’s website corrected the prices

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India's maiden Gas Trading Hub to be functional before Dec: PNGRB

India's maiden Gas Trading Hub to be functional before Dec: PNGRB

The Petroleum and Natural Gas Regulatory Board (PNGRB) expects the proposed gas trading hub to be functional by the end of the calendar year and Crisil has been appointed to assist the regulator and the government in framing rules for the exchange.

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Oil and Gas Trends 2018-19

Oil and Gas Trends 2018-19

After several years of oversupply, the oil and gas industry could very well be moving headlong into a supply crunch. This may seem hard to imagine, given the ramping up of U.S. oil production and the burgeoning sense of optimism that is sweeping the sector.

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Now, Indian Railways, IMD to set up rain predicting radars

Now, Indian Railways, IMD to set up rain predicting radars

In what can be called a vital step towards gauging waterlogging on tracks, the Indian Meteorological Department and Railways have jointly decided on Tuesday to set up radars that predict rainfall. This decision was taken at a high-level meeting chaired by Chief Minister Devendra Fadnavis that was attended by all civic bodies and Rail authorities.

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Bogies of Darjeeling toy train derail at Kurseong railway station

Bogies of Darjeeling toy train derail at Kurseong railway station

A few bogies of Darjeeling toy train derailed at Kurseong railway station on Wednesday morning. No casualties were reported in the incident. The train was on its way from Darjeeling to Siliguri when some bogies came off the track at the Kurseong railway station, according to news agency ANI.

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Guess what! Indian Railways has roped in Amitabh Bachchan for its campaign; all you want to know

Guess what! Indian Railways has roped in Amitabh Bachchan for its campaign; all you want to know

Indian Railways ropes in Bollywood superstar Amitabh Bachchan! Yes, it’s true. Recently, Amitabh Bachchan featured in a short movie titled ‘Ek Safar Rail Ke Saath’ by Central Railway, which is aimed at spreading awareness on safety.

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Delays in running of trains due to track upgradation work: Piyush Goyal

Delays in running of trains due to track upgradation work: Piyush Goyal

Railway Minister Piyush Goyal on Wednesday sought the cooperation of passengers, saying the delays in running of trains were due to track upgradation work to ensure their safety. "The track upgradation work is being carried out for passenger safety on mission mode.

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Modi In Indonesia: India-Indonesia Sign 15 Mous In Fields Of Defence, Railways, Health

Modi In Indonesia: India-Indonesia Sign 15 Mous In Fields Of Defence, Railways, Health

Prime Minister Narendra Modi is addressing the Indian community in Jakarta. We are all proud of the manner in which the Indian diaspora has distinguished itself in Indonesia, says PM Modi.

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New IRCTC website review: Better fonts, easier to book tickets and a step in right direction

New IRCTC website review: Better fonts, easier to book tickets and a step in right direction

Indian Railway Catering and Tourism Corporation (IRCTC) on Tuesday revamped its e-ticketing web portal adding a brand new user interface (UI) and a host of new features to its platform.

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Soon, take a ferry ride on Yamuna

Soon, take a ferry ride on Yamuna

A pilot ferry service in Yamuna will start after the monsoon and regular services are set to begin by this year end. Though it will be limited to only a few kilometres stretch from Tronica City in Ghaziabad to Sonia Vihar in Delhi, this service is likely to emerge as a major tourist attraction.

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Driver's quick thinking prevents train tragedy

Driver's quick thinking prevents train tragedy

This is something unheard of in the Indian railways. A wheel of a moving train broke into two pieces; however, a tragedy was averted as driver of the train safely brought it to a halt.

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