(FE) State-run power producer NTPC has doubled its renewable energy target for 2032, and now wants to have 60,000 mega-watt (MW) of wind and solar capacity by the end of the target period. Currently, the installed renewable energy capacity of the company is 1,350 MW and by FY24, it intends to add about another 13,000 MW of green power generation base, NTPC’s management informed analysts and investors in a recent conference call. The company, by name and predominantly a thermal player, had in October, 2020, incorporated NTPC Renewable Energy, a wholly-owned subsidiary to focus on its green energy business. When the subsidiary…
Author: Aruna Sharma
(ET) The Indian government’s plan to gradually increase ethanol blending in gasoline, as a way to cut pollution and reduce its oil import bill, could be the largest change in the global sugar market since Europe’s sugar reform, and possibly drive a bull market. According to a report released on Monday by food trader and supply chain services provider Czarnikow Group, India’s ethanol program will lead the government to end sugar export subsidies and erase exportable sugar volumes from the country, currently the second-largest producer after Brazil.
(HT) Oil marketing companies (OMCs) on Tuesday hiked fuel prices across the country, a day after keeping the rates unchanged. Petrol and diesel prices were hiked by 25-28 paise per litre . After this latest hike, a litre each of petrol and diesel in Delhi is available at ₹97.50 and ₹88.23 respectively, as against ₹97.22 and ₹87.97 on the preceding two days. In financial capital Mumbai, where fuel prices are at their highest among the four metros, one litre of petrol is retailing at ₹103.63, up from ₹103.36, while an equal quantity of diesel is at ₹95.72, rising from ₹95.44. Meanwhile, in Chennai, fuel rates stand at ₹98.65 and ₹92.83 for…
(BS) Fresh infections continue to fall in India as the deadly second Covid wave wanes. India reported 120,529 new Covid-19 infections today (lowest since April 7), taking the caseload to 28,694,879. Deaths, however, have not seen a proportionate decline. Today is the 47th consecutive day of over 2,000 daily Covid deaths reported from the country. With 3,380 new fatalities, the death toll is now at 344,082, according to MoHFW. It continues to be the second worst-hit nation. With 22,651 cases reported in the past 24 hours, Tamil Nadu is leading the state list. It is followed by Karnataka with 16,068 new infections.…
(Zee News) India added 1,20,529 new COVID-19 and 3,380 deaths in the last 24 hours, as per the Union Health Ministry on Saturday (June 5, 2021). This was India’s lowest rise in daily new cases in almost two months. The country which went through a raging second wave of coronavirus in April and May recorded less than 2 lakh daily new cases for the ninth consecutive day. The Ministry of Health and Family Welfare stated that India’s weekly positivity rate is currently at 6.89% while the daily positivity rate stands at 5.78%. “It has remained less than 10% for 12 consecutive days now,” it said. With this, the total number…
(PTI) The Reserve Bank of India on Friday said it expects retail inflation to be at 5.1 per cent in the current financial year supported by the progress of monsoon and effective supply-side interventions by the government. The projection is well within the Monetary Policy Committee’s target to keep the rate of inflation at 4 per cent with an upper or lower tolerance level of 2 per cent. However, the apex bank remained equally cautious about the upside risks due to rising global commodity prices. Moreover, the persistence of the second wave of the pandemic and the consequent restrictions on activity on…
(PTI) Crude oil prices rose Rs 33 to Rs 5,044 per barrel on Friday, as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 33, or 0.66 per cent, at Rs 5,044 per barrel in 10,805 lots. Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
(ET) Doorstep diesel delivery is a new revolution in the field of energy distribution in Rajasthan which is easing the lives of the end-consumers without the hassles of diesel procurement. Four fuel entrepreneurs are bringing change in the fuel industry in Rajasthan with this door-to-door delivery model which includes Bikaner-based Hiralal Bhattar Petroleum. It has started the facility of doorstep diesel delivery through their mobile petrol pumps. This new fuel startup is run by Surendra Bhatter, who owns a Bharat Petroleum Corporation Limited (BPCL) retail outlet.”While having discussion with BPCL officials, they gave me the information so I thought this should be done for the…
(ET) Petrol and diesel prices rose again across the country today to a fresh record hike. After today’s hike, 18th in the last one month, petrol is now selling at Rs 100 per litre in at least six states. Petrol prices were hiked 27 paise per litre and diesel by 28 paise a litre today, according to the price listed on state-owned fuel companies website. In 18 hikes, petrol price has risen by Rs 4.36 per litre and diesel by Rs 4.93 a litre since May 4. The petrol prices have already crossed the Rs 100-per-litre mark in several states including Rajasthan, Madhya…
(ET) The government has approved the strategic disinvestment and transfer of management control in IDBI Bank. The Cabinet Committee on Economic Affairs, which met under the chairmanship of Prime Minister Narendra Modi, gave its in-principle go ahead, according to an official statement on Wednesday. The government currently holds a 45.48% stake in the lender, while state-run Life Insurance Corp. of India is the promoter with a 49.24%.