UK’s Cairn Energy, which became the first company to face coercive recovery in retrospective tax action, had created a maze of subsidiaries in a span of just six months to transfer Indian assets, an event that led to a demand of Rs 10,247 crore as dues.
Berlin is lobbying for German firms to win business revamping India’s creaking railway network, one of several countries attracted by the scale of India’s transport needs and which are campaigning to export their technology.
Crude oil has entered a bear market even as the Organisation of Petroleum Exporting Countries has been trying its best to put a floor under the prices by curtailing supply.
Despite the rising imports of solar equipment from China, the Finance Ministry has turned down a Rs 20,000-crore plan to support the local solar equipment manufacturers with incentives and subsidies.
Following a decline in solar tariffs, power distribution companies (discoms) are increasingly negotiating for short-term contracts with power generation companies.
Rajat Bose of rajatkbose.com told CNBC-TV18, “I have two oil & gas stocks as sell and Reliance Infrastructure as a buy. In Reliance Infra, June Futures, I would put a stop loss below Rs 495 and my targets are Rs 517 and Rs 523 on the upside.
Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan on Wednesday said that Odisha government’s show-cause notice to the IOC’s refinery at Paradip would affect industrialisation in the state.
A decade ago, any political turmoil in the West Asian region would have an immediate impact on the oil market. Now, despite growing tensions between Saudi Arabia and Qatar, Brent crude, the international benchmark, has fallen to as low as USD 45.62, its lowest level since November.
Amid speculations that public sector Steel Authority of India Ltd (SAIL) may take over debt-ridden Monnet Ispat & Energy Ltd, Steel Minister Chaudhary Birender Singh has ruled out any such possibility.
Rail Minister Suresh Prabhu today said that the Centre is focusing on development of railway facilities and infrastructure in Rajasthan to accelerate growth in the state.