The Ruias of Essar group are racing against time to close the $13-billion sale of its Gujarat-based refinery to Russian oil major, Rosneft by as early as next week. The group has already received $300-million from the Russian company its stake in Essar Oil and expects rest of the proceeds with the deal closure which would help it to retire debt.
With the finance ministry starting the process for listing of Indian Railway Catering and Tourism Corporation (IRCTC), Indian Railway Finance Corporation (IRFC) and Ircon International (Ircon), the loss of service charge for IRCTC has become a cause for concern for railway officials.
In a setback to Naveen Jindal-controlled Jindal Power Ltd, the Delhi High Court on Thursday declared the company as the unsuccessful bidder for two coal blocks. The order has come as a legal endorsement of the NDA government’s auctioning of coal mining rights. There were two other breakthrough orders associated with the coal block e-auction held in 2015-16
Reliance Industries’ (RIL) nearly 396 million equity shares representing 12.58% equity of total paid up capital changed hands on BSE through block deal in early morning trade.
In its move to secure steady coking coal supply for the steel sector which is stressed with price volatility, world’s largest coal company, Coal India
In a relief for Cairn Energy, the tax department in India has agreed to lift the freeze on the British oil explorer being paid dividends by its erstwhile subsidiary, Cairn India.
Coal India’s announcement of an interim dividend of Rs 18.75 per share for FY17 looks surprising if one looks at the stress on the company’s performance, and the fact that it has already utilised Rs 3,650 crore of cash to buy back shares in the past few months to reward shareholders.
India may soon mandate the use of local steel in government infrastructure projects worth billions of dollars, sources said, pitching it as a WTO-compliant protectionist measure aimed at further cutting cheap imports, mainly from China. The government expects the move to boost sales of local companies such as JSW Steel and Tata Steel, and eventually attract global steelmakers such as ArcelorMittal and Posco to invest in the country, five steel ministry sources told Reuters
he government’s top brass, including Finance Minister Arun Jaitley and other senior ministers, will brainstorm tomorrow to chalk out a plan to promote electric vehicles in the country.
The irony does not escape Divya Devi, a homemaker, who has lived in a mud hut for the past 11 years of marriage, in the darkness of Chopan Gaon, one of many “partly electrified” villages in the district of Sonbhadra in eastern Uttar Pradesh (UP)