(ET) The government has scrapped the BPCL divestment process as there was just one bidder left in the fray after the two others dropped out due to their inability to tie up funds for the acquisition, said an official. “The government has officially withdrawn the BPCL proposal,” the official said. “There were three bidders initially. But effectively there was just one bidder – Vedanta. After due diligence, the other two could not tie up funding.”
Author: Aruna Sharma
(FE) Petrol prices have now been left untouched for 42 consecutive days by oil marketing companies (OMC). Prices have not been changed since April 6, after OMCs hiked fuel rate by Rs 10 per litre through 14 price hikes across major cities that started on March 22. Petrol in the National Capital of Delhi is currently priced at Rs 105.41 per litre, after the last hike of 80 paise nearly a month ago. Diesel in the city is priced at Rs 96.67. In Mumbai, a litre of petrol and diesel cost Rs 120.51 and Rs 104.77, respectively. Fuel prices have…
(PTI) Asia’s richest man Gautam Adani’s group on Sunday said it has clinched a deal to acquire a controlling stake in Holcim Ltd’s businesses in India for $10.5 billion, marking the ports-to-energy conglomerate’s entry into the cement sector. Adani has in the last couple of years diversified beyond the core business of operating ports, power plants and coal mines into airports, data centres and clean energy. The group last year set up two cement subsidiaries – Adani Cementation Ltd Cement Ltd. The deal will make billionaire Gautam Adani’s conglomerate the second-largest player in the domestic cement sector by acquiring the joint…
(DH) Saudi Aramco on Sunday posted an 82 per cent jump in first quarter profits, buoyed by a global surge in oil prices that has made it the world’s most valuable company. The announcement continued a string of recent positive economic news for Saudi Arabia, where a booming oil sector is fuelling the fastest growth rate in a decade Aramco’s net income of $39.5 billion was up from $21.7 billion compared with the same period in 2021, “primarily driven by higher crude oil prices and volumes sold, and improved downstream margins,” it said in a press release.
(ET) Aviation turbine fuel (ATF) prices were hiked by 5 percent, taking it to Rs.1.23 lakh per kilolitre in the national capital, according to state owned fuel retailers. Indian Oil Corporation In the nine hikes beginning January 1, jet fuel prices have been hiked 61.7 percent from Rs 72,062 per kilolitre to Rs 1.23 lakh per kilolitre. Meanwhile, petrol and diesel prices remained unchanged for the 40th straight day after rising by a record Rs 10 per litre each. Fuel prices were last hiked on April 6 by 80 paise a litre each. While jet fuel prices are revised on the 1st…
(BS) Engineering giant Larsen & Toubro (L&T) on Thursday said its consolidated net profit (attributable to owners) rose nearly 10% year-on-year to Rs 3,621 crore for the quarter ended March 31, 2022, amid higher fuel and commodity prices. Net profit before exceptional items, but from continuing operations, stood at Rs 4,007 crore, a growth of 13.3% over the year-ago period. Consolidated revenue for the quarter rose 10% versus last year to Rs 52,851 crore, marginally below street estimates. A Bloomberg consensus estimate had pegged revenue and net profit for the quarter at Rs 53,018 crore and Rs 3,483 crore respectively. The company, which…
(DJ) सुधार, प्रदर्शन और बदलाव यानी रिफार्म, परफार्म और ट्रांसफार्म का मंत्र अपने मंत्रियों को दे चुके उत्तर प्रदेश के मुख्यमंत्री योगी आदित्यनाथ ने साफ कर दिया है कि जिम्मेदार पदों पर बैठे अधिकारियों को भी बेहतर प्रदर्शन कर सुधार और बदलाव के परिणाम देने होंगे। ‘अकर्मण्यता’ जैसा शब्द प्रयोग करते हुए पुलिस महानिदेशक (डीजीपी) के पद से मुकुल गोयल को हटाकर सीएम योगी ने अधिकारियों को सख्त संदेश दे दिया है। ऐसे में अटकलें शुरू हो चुकी हैं कि जल्द ही पुलिस और प्रशासन के कई और अधिकारियों पर कड़ी कार्रवाई का चाबुक चल सकता है। मुख्यमंत्री योगी आदित्यनाथ…
(FE) According to the official data shared by the Ministry of Health on Friday morning, India recorded 2,841 new Covid-19 infections and nine deaths in last 24 hours. The country’s active caseload currently stands at 18,604. The Ministry of Health on Thursday announced that Indian citizens & students travelling overseas can now take the precaution dose of the vaccine against Covid-19 as required by the guidelines of the destination country. This new facility will be available soon on the CoWIN portal, Union Health Minister Mansukh Mandaviya said in a tweet.
(DJ) देश का विदेशी मुद्रा भंडार इस साल मार्च के अंत में 28.05 अरब डॉलर घटकर 607.31 अरब डॉलर रह गया, जो सितंबर 2021 के अंत में 635.36 अरब डॉलर था। भारतीय रिजर्व बैंक (आरबीआई) द्वारा विदेशी मुद्रा भंडार के प्रबंधन पर जारी की गई अर्ध-वार्षिक रिपोर्ट से यह जानकारी मिली है। ये रिपोर्ट हर छह महीने में जारी की जाती है। यह हर साल मार्च और सितंबर के अंत की स्थिति के संदर्भ में तैयार की जाती हैं। यह 38वीं रिपोर्ट है, जिसे मार्च 2022 के अंत की स्थिति के संदर्भ में जारी किया गया है। गुरुवार को जारी…
(ET) Petronet LNG has begun talks with Qatar to renew a multi-year gas deal despite market “turbulence”, making new long-term contracts difficult as sanctions on Russian fuel have squeezed an already tightly supplied market. India’s top gas importer has till end-2023 to renew its long-term liquefied natural gas (LNG) deal with Qatar Gas to beyond 2028, its head of finance Vinod Kumar Mishra told an analyst call after the Petronet announced quarterly earnings. He said it was not a “perfect not a “perfect environment” to initiate new long-term deals as market was tight and European companies were aggressively scouting for contracts…