The Ruias-controlled Essar Group is fighting off a challenge from a US-based hedge fund which is eyeing Essar’s assets in the UK, including the Stanlow oil refinery, to settle unpaid dues.
Oil marketing companies (OMCs) are looking to wind down discounts on fuel purchased via electronic means, three people aware of the plans said, more than a month after they trimmed such discounts for fleet customers using loyalty programmes.
The capacity created in India’s renewable energy sector may be impressive, but the pace has begun to slacken. Solar capacity installations in the country is at 25,000 megawatts (MW), or one-fourth of the 2022 target of 100,000 MW, according to Mercom India research.
India is engaged with the United States and other stakeholders to ensure its energy security and national interest, the foreign ministry spokesman said on Thursday, as Washington is set to tighten sanctions on Iran’s oil and banking sector.
Despite the government’s recent measures to contain the rupee’s fall, the Indian currency remains on a weak footing. In the last one month, the rupee has depreciated by around 14% against the dollar and is among Asia’s worst-performing currencies.
Electricity spot prices in India surged to a more than eight-year high because of lower quantum of traded power, higher demand amid a retreating monsoon, which has also forced power sellers such as Telangana to turn buyers.
Ircon International’s initial share sale was subscribed 29% on Monday, the first day of the bidding process, according to the National Stock Exchange (NSE).
India’s electricity prices remained firm in the spot market due to a raft of reasons such as lower quantum of power being traded, demand increase in the wake of a retreating monsoon, and sellers such as Telangana turning buyers to meet its consumers’ demand.
Against the backdrop of online ticketing scams, railways is mulling an amendment to the Railways Act, 1989 to include a provision of penalising those committing e-ticketing frauds, sources said.
Adani Ports, India’s largest private sector port operator, and Jawaharlal Nehru Port Trust (JNPT) in Navi Mumbai are likely to bid for Dighi Port, which was declared bankrupt by the National Company Law Tribunal (NCLT) in April, according to two people aware of the matter.