State-run Oil and Natural Gas Corporation Ltd. expects to save thousands of dollars in rig and drilling costs as India’s largest explorer hired services at about a third of the current rates.
Indian Railways has floated a global tender to procure rails, a move that may end the monopoly of state-run supplier Steel Authority of India Ltd. as Asia’s oldest network seeks to plug a supply shortfall.
Investment fund Global Infrastructure Partners agreed to buy Equis Energy, a Singapore-based developer of renewable-power projects, for $5 billion including debt, a record for the industry.
Oil and gas companies are expected to report strong core earnings in the second quarter as higher gross refining margins will benefit refiners and explorers will gain from a sequential rise in crude oil prices.
Midway through its initial public offering, India’s largest power trading platform Indian Energy Exchange Ltd. found out that overseas investors couldn’t participate in its share sale.
Debt-laden power companies may finally get some breather. The country’s largest power producer NTPC Ltd.
Government-run power distributors in India continue to hold the sector “hostage” as there has been little improvement in their operations despite multiple attempts over the years, Vinayak Chatterjee, chairman of Feedback Infra told BloombergQuint in an interview.
Prime Minister Narendra Modi brainstormed with chief executives of top global and Indian companies, including U.K.’s BP, Russia’s Rosneft, Saudi Aramco and Reliance Industries Ltd.
India Inc.’s earnings are bound to be volatile for the next few quarters due to disruptions from the Goods and Services Tax and weak underlying economic activity, said IDFC Securities in its ‘India Strategy’ report.
Reliance Communications Ltd. on Sunday called off its merger with Aircel after the pact with the Maxis Group company lapsed, putting the focus back on its ability to repay loans as the telecom operator was banking on the deal to pare part of its debt.