Adani Group built its fortunes by starting as a commodity trading company. But, Adani Enterprises — the flagship company of the three-decade-old trading group — now sees mine-development contracts as more promising than trading.
Suzlon Energy’s consolidated net loss narrowed to Rs 336.88 crore in the June quarter, on account of lower expenses. The company had reported a loss of Rs 575.10 crore in the corresponding period of the previous financial year.
Mukesh Ambani-led Reliance Industries’ recent announcement on selling a part of its oil-to-chemicals business to Saudi Aramco and fuel marketing business to BP will help the company reduce its net debt by $16 billion, Moody’s Investors Service said in a report today.
Saudi Aramco’s decision to invest in Reliance Industries’ oil-to-chemicals business is the first step towards a strategic partnership which will entail carving out the business into an independent company and growing it, says RIL’s executive director, PMS Prasad.
District collector in Singrauli has asked Essar Energy’s thermal power plant to deposit a sum of Rs 50 lakhs against crop loss farmers have suffered following collapse fly-ash dyke mud wall collapse. Company has reportedly agreed to it.
Saudi Aramco reported a 12% fall in half-year net profit on Monday, yet remained the world’s most profitable company, while India’s Reliance Industries (RELI.NS) said Aramco is looking to buy into its refining and petrochemicals business.
The government is likely to announce a scheme wherein oil marketing companies will offtake the entire supply of biodiesel from used cooking oil from all current and future plants to commemorate World Biofuel Day on Saturday, according to people aware of the development.
The National Company Law Appellate Tribunal (NCLAT) on Thursday pulled up the Centre for its failure to complete the resolution process for the debt-ridden IL&FS Group within the stipulated 270-day timeframe.
Jindal Steel and Power Ltd (JSPL) on Thursday said that it has not defaulted on any payments. The company said all speculations/rumours with respect to payment default are “baseless and false in nature”.
The Supreme Court on Wednesday gave a week’s time to the operational creditors of bankrupt Essar Steel to challenge the new amendments to the Insolvency and Bankruptcy Code, which granted more powers to the lenders.