GOOD EVENING INDIA

December 14, 2018, Friday

Your Evening News Updates From Across The Media Space

PTC India fourth quarter net profit down 18 per cent

PTC India fourth quarter net profit down 18 per cent

PTC India Ltd, the country’s largest power trader, reported an 18 per cent drop in net profit for the quarter ended March at Rs 64.37 crore on a standalone basis as against a net profit of Rs 78.77 crore in the corresponding quarter previous financial year (2016-17).

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Reliance Power divests holding in Tilaiya UMPP SPV for Rs 113 crore

Reliance Power divests holding in Tilaiya UMPP SPV for Rs 113 crore

Reliance Power has divested its entire holding in Jharkhand Integrated Power, set up to develop Tilaiya UMPP, to Jharkhand Urja Vikas Nigam Ltd for Rs 112.64 crore.

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State-run power plants resume coal imports amid shortages

State-run power plants resume coal imports amid shortages

State-run thermal power plants in India's coastal states have again begun buying overseas coal due to domestic coal shortages, government and utility officials said, in a setback for the country's long-term plans to eliminate imports.

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Union Cabinet okays Rs 5,000-crore micro-irrigation fund

Union Cabinet okays Rs 5,000-crore micro-irrigation fund

The Union Cabinet on Wednesday approved a dedicated Rs 5,000-crore fund to bring more land area under micro-irrigation, as part of its objective to boost agriculture production and farmers income.

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NCLAT to hear Bhushan Steel promoter’s plea against Tata Steel takeover

NCLAT to hear Bhushan Steel promoter’s plea against Tata Steel takeover

The National Company Law Appellate Tribunal (NCLAT) will next week hear Bhushan Steel promotor Neeraj Singal’s plea against acquisition of the company by Tata Steel.

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Guwahati now has India's first solar powered railway station

Guwahati now has India's first solar powered railway station

Guwahati now has India's first railway station run by solar power. The project of installing solar panels was commissioned last year in April 2017.

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L&T bags orders worth Rs 2,440 cr for power transmission, distribution and solar plants

L&T bags orders worth Rs 2,440 cr for power transmission, distribution and solar plants

Engineering and construction major L&T today announced its arm L&T Construction has bagged orders worth Rs 2,440 crore for erection and commissioning of multiple power transmission and distribution projects apart from solar plants.

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JSW Steel and Tata Steel plan massive capacity expansion to meet anticipated steel demand

JSW Steel and Tata Steel plan massive capacity expansion to meet anticipated steel demand

Beefed up by strong set of numbers for the previous quarter and rising steel prices, JSW Steel yesterday announced that it will hike up its steel capacity by 37 per cent in the next two years. Clearly, it does not intend to relinquish its position as India's largest steel maker to Tata Steel.

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Private power firms against exporting discounted coal

Private power firms against exporting discounted coal

Damodar Valley Corporation and a state-owned distribution company in West Bengal that are receiving fuel at a discounted price from Coal India on long-term contracts must sell their electricity locally in India and should not be allowed to export that

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Torrent Power all set to light up Dholera SIR

Torrent Power all set to light up Dholera SIR

Torrent Power Limited (TPL) is all set to power up Dholera Special Investment Region (DSIR) as Gujarat Electricity Regulatory Commission (GERC) has in-principally decided to grant a power distribution licence to the company to supply electricity to the DSIR. Apart from TPL

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Vedanta appoints woman CEO for Africa operations

Vedanta appoints woman CEO for Africa operations

Vedanta Resources has appointed Deshnee Naidoo, as Chief Executive Officer – Africa Base Metals. In her new role, Ms Naidoo will combine the leadership of Konkola Copper Mines (KCM), in Zambia, and Vedanta Zinc International (VZI), in South Africa and Namibia, as well as Copper Mines of Tasmania.

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India may not reach clean energy target, says energy consultancy firm

India may not reach clean energy target, says energy consultancy firm

India could fall short of its target of adding 175 GW of clean energy by the end of 2022 due to uncertainty around safeguard duty and weak financial position of power distributors, a survey by renewable energy consultancy firm Bridge to India shows.

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MGVCL to pay for appliances damaged due to its fault

MGVCL to pay for appliances damaged due to its fault

The Vadodara district consumer forum has ruled that Madhya Gujarat Company Ltd (MGVCL) is liable to pay to customers who have lost their electronic appliances due to a fault committed by the state-run company’s staffers.

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New York seeks shutdown of coal power plants by 2020

New York seeks shutdown of coal power plants by 2020

New York environmental regulators released a draft pollution rule on Wednesday that would require all of the state's remaining coal-fired power plants to shut or be repowered to burn cleaner fuels like natural gas by 2020.

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Trump reversal of mining pollution rule challenged in court

Trump reversal of mining pollution rule challenged in court

Environmental groups challenged the Trump administration in federal court Wednesday over its rejection of an Obama-era proposal that would have required mining companies to prove they have enough money to clean up their pollution.

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ONGC capital spending not impacted by oil price: Moody's

ONGC capital spending not impacted by oil price: Moody's

Defying a global trend, India's flagship national oil company ONGC did not cut its capital spending on exploration and development after oil prices collapsed between 2014-16, Moody's Investors Service said today.

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India Raises Iran Oil Imports In April To Highest Since Oct 2016 As U.S. Sanctions Loom

India Raises Iran Oil Imports In April To Highest Since Oct 2016 As U.S. Sanctions Loom

India's oil imports from Iran surged to 640,000 barrels per day (bpd) in April, its highest level since October 2016, according to data from shipping and industry sources, as refiners raised purchases ahead of looming U.S. sanctions against Tehran.

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Land acquisition woes thwart India's mega refinery plan with Saudi Aramco

Land acquisition woes thwart India's mega refinery plan with Saudi Aramco

At the International Energy Forum in Delhi in April, the world's top oilNSE 1.79 % producer Saudi Aramco inked a preliminary deal to partner with a consortium of Indian players to build a $44 billion refinery and petrochemical project in Maharashtra's Ratnagiri.

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Crude oil futures up 0.58 pc amid positive Asian cues

Crude oil futures up 0.58 pc amid positive Asian cues

Crude oil rose 0.58 per cent to Rs 4,848 per barrel in futures market today as speculators widened their bets, taking positive cues from the Asian markets.

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PetroChina ships in first equity crude oil from Brazil's Ribera project

PetroChina ships in first equity crude oil from Brazil's Ribera project

PetroChina brought in to China the first cargo of its equity crude oil production from sub-salt Ribera project in Brazil, according to a report on Thursday by parent company CNPC.

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Genel Energy on track for Kurdish output growth, shares jump

Genel Energy on track for Kurdish output growth, shares jump

Genel Energy is on track to hit its oil output target in Kurdistan, it said on Thursday, adding that its cash reserves had risen by 28 percent from the end of last year.

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Asia oil thirst tab $1 trillion a year as crude rises to $80

Asia oil thirst tab $1 trillion a year as crude rises to $80

Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this year, about twice what it was during the market lull of 2015/2016.

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Oil markets firm as Brent edges ever closer to $80 per barrel on tight market

Oil markets firm as Brent edges ever closer to $80 per barrel on tight market

Oil prices firmed on Thursday, with Brent crude creeping ever closer to $80 per barrel, a level it has not seen since November 2014, as supplies tighten while demand remains strong.

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Iran signs oil contract with Pergas to develop Keranj oilfield

Iran signs oil contract with Pergas to develop Keranj oilfield

Iran signed a preliminary deal on Wednesday for a consortium of international companies to develop an oilfield, the first such contract since Washington withdrew from a nuclear agreement and said it would reinstate sanctions on Tehran.

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Natural gas demand outlook most attractive among fossil fuels - Goldman

Natural gas demand outlook most attractive among fossil fuels - Goldman

Demand for natural gas will top other fossil fuels in the long term on the back of rising number of electric vehicles and as new emission standards could see new vessels adopting alternative fuels, according to Goldman Sachs.

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Australia's Santos gets $10.36 bln takeover offer from Harbour Energy

Australia's Santos gets $10.36 bln takeover offer from Harbour Energy

Santos Ltd said on Friday that U.S.-based suitor Harbour Energy has made a $10.36 billion binding offer for the company, pitched at the same price as an indicative proposal last month.

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This Indian Railways project to turn PM Narendra Modi's 'transformation through transportation' vision into reality

This Indian Railways project to turn PM Narendra Modi's 'transformation through transportation' vision into reality

Texmaco Rail and Engineering on Wednesday said it has won a Rs 200-crore contract to construct a rail line between Agartala in India and Akhaura in Bangladesh.

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Delhi to overtake Tokyo as world’s most populous city by 2028 : UN report

Delhi to overtake Tokyo as world’s most populous city by 2028 : UN report

Two-thirds of people in the world will be living in cities by 2050, and the boom will be concentrated in three countries - India, China and Nigeria, according to United Nations estimates released on Wednesday. The world’s rural population will peak in a few years then decline by 2050, according to the report on urbanization by the Population Division of …

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Now, Indian Railways Bullet Train runs into more problems

Now, Indian Railways Bullet Train runs into more problems

On May 16, the farmers of Diva staged a symbolic two-hour protest in front of the District Collectorate Thane against bullet train project. Refusing to take political support

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Central Railway Registers 26% Increase in Ticket Checking Earnings in April 2018

Central Railway Registers 26% Increase in Ticket Checking Earnings in April 2018

Central Railway registered a record ticket checking earnings of Rs.25.90 crore in the month of April 2018 through in its intensive campaign against ticketless and irregular travel.

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Indian Railways, French firm SNCF Mobilites tie up for high-speed rail corridors development

Indian Railways, French firm SNCF Mobilites tie up for high-speed rail corridors development

The Ministry of Railways has signed Memorandums of Understanding (MoUs) with French government-run company SNCF Mobilites for technical cooperation in the areas of high-speed rail corridors, raising of speed on existing routes, development of world-class stations, heavy haul operations and modernisation of rail infrastructure, etc.

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