Vedanta gained 4% to Rs 263, while Cairn India hit a 52-week high of Rs 313, up 3% on BSE in intra-day trade after both the companies on Tuesday announced that that the merger of Cairn India with Vedanta pursuant to the scheme of arrangement has become effective.
Consolidating Vedanta’s position as one of the world’s largest diversified natural resources companies, Vedanta and Cairn India have completed their merger process on Tuesday.
The domestic gas prices have been cut marginally from $2.5 per mmbtu (million British Thermal Units) to $2.48 per mmbtu, but gas distribution and marketing companies are in a sweet spot
The Supreme Court on Tuesday set aside an order by the Appellate Tribunal For Electricity allowing compensatory tariff to Tata Power Ltd and Adani Power Ltd, sending down shares of both companies
A section of petroleum dealers said they would shut their retail outlets every Sunday starting May 14. Many see this as a tactic to pressure government for higher commission.
India’s fuel consumption grew at a slower rate of 5 per cent in the last fiscal ended on March 31 as diesel demand slowed.
The Indian power sector is set to witness a sea change with new tariff regulations, which will consider for the first time energy efficiency, peaking power rates and time-of-the-day tariff as key themes.
In the aftermath of the recently-held Economic Cooperation Organisation (ECO) summit meeting in Islamabad, strong hints have emerged about some forward movement on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project.
Lacklustre performance by two of its largest subsidiaries — Mahanadi Coalfields Ltd (MCL) and South Eastern Coalfields Ltd (SECL) — hindered Coal India Ltd (CIL) from achieving its targeted goals in production and offtake in 2016-17.
India will formally commence the commercial supply of High Speed Diesel (HSD) to Bangladesh from Saturday, said Minister of State for Petroleum and Natural Gas Dharmendra Pradhan on Friday.