Four public sector undertakings—Indian Oil Corporation, Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL) and Coal India — are paying an out-of-turn second interim dividend to help the government shore up its revenues. Most of these companies paid interim dividends less than a month ago.
NTPC Ltd, India’s biggest electricity producer, is seeking to buy the central government’s stake in hydro-power producer SJVN Ltd to boost its share of non-fossil fuel generation capacity, according to people with knowledge of the development.
Hindustan Zinc’s (HZL’s) announcement of a dividend of Rs 27.50 a share was cheered by the Street, with its stock price up 2.7 per cent to close at Rs 320.20 on Thursday.
The Union Cabinet’s decision on Wednesday to grant extension to production sharing contracts for 10 blocks will benefit Cairn India Ltd (CIL)
The steel ministry is considering an advisory group for public sector miner NMDC to rein in any potential price surge in iron ore, sources said.
The Anil Ambani-promoted Reliance Infrastructure (RInfra) is likely to postpone its demerger plan to the next financial year. The company has moved the Bombay High Court, which is hearing its scheme of arrangement, seeking a change in the effective date of plan to April 1 this year.
India is exploring setting up a new payments mechanism for trade with Iran, after its old sanctions workaround broke down, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo.
In a landmark development for expansion of inland waterways in the country, the Inland Waterways Authority of India (IWAI) has raised Rs 340 crore through its maiden bond issue from the market.
Plagued with complaints, Railways plan to provide fresh food cooked at base kitchens in trains after every two hours to the passengers.
The loss of two coal blocks for the second time following a Delhi High Court judgement last week has put the investments of Jindal Power Limited (JPL) under stress.