(THBL) Oil and Natural Gas Corporation (ONGC) has lined up an estimated investment of Rs.78,000 crore in Andhra Pradesh. This includes Rs.68,000 crore for offshore projects and Rs.0,000 crore in Onshore projects. This information was shared by top ONGC officials during a meeting with Vice-President of India, M Venkaiah Naidu about the company’s projects in Krishna Godavari Basin and Rajamundry. Naidu was also informed about setting up of the Greenfield Petrochemical Complex at Kakinada, with an investment of around Rs.32,000 crore for producing 1.7 million tonnes per annum of petrochemical products. The project is being undertaken by Hindustan Petroleum Corporation Ltd and…
Author: Aruna Sharma
(LiveMint) During his first official visit to India on February 24-25, US President Donald and his wife Melania Trump will travel to Ahmedabad, Gujarat apart from New Delhi. “President Donald J. Trump and First Lady Melania Trump will visit India on February 24-25, 2020. The President and The First Lady will travel to New Delhi and Ahmedabad, which is in Prime Minister Modi’s home state of Gujarat and played such an important role in Mahatma Gandhi’s life and leadership of the Indian independence movement,” said White House. The White House further stated that during a phone call over the weekend, President…
(LiveMint) The government is set to privatise Central Electronics Ltd, a CPSE under the Department of Science and Technology, by selling its 100 per cent stake with management control and has invited the Expression of Interest for the same by March 16. The selected bidder will be required to lock in its shares for a period of three years during which it cannot undertake the sale of its stake in CEL, the PIM (Preliminary Information Memorandum) said. “The government of India has ‘in-principle’ decided to disinvest 100 per cent of its equity shareholding in CEL (which is equivalent to 100 per…
(Tribune) Trends showed the Aam Aadmi Party ahead of its rival BJP as counting of votes is under way in all Assembly constituencies in Delhi on Tuesday. The AAP is leading on 50 seats and the BJP on 20.The results are as per expectation of the exit polls which predicted a clear majority for the AAP.
(News 18) The Congress is seeking to better its performance than last time when it did not bag any seat in the Assembly polls but improved its vote share in 2019 polls. The AAP had got 54.3 per cent votes in the 2015 Assembly polls, while the BJP secured 32 per cent and the Congress bagged just 9.6 per cent of the total votes polled. The BJP mounted one of its most aggressive campaigns in the Delhi Assembly polls so far, with Union Home Minister Amit Shah leading the saffron charge fuelled by its planks of Hindutva and nationalism and its…
(PTI) The IPO-bound Life Insurance Corporation (LIC) on Friday said its new business premium has crossed the Rs 1.5-lakh-crore-mark for the first time, helping the national insurer improve market share to 77.61 per cent.The Corporation’s total income grew by 17.79 per cent to Rs 2,97,017.28 crore as of September 2019 from Rs 2,52,149.60 crore a year ago, chairman MR Kumar said. Total assets of the Corporation increased by 7.92 per cent to Rs 32,25,905.42 crore as of September 2019 from Rs 29,89,276.53 crore, he added. The milestone was led by first year individual new premium, which as of January has expanded…
(PTI) State-owned BHEL on Friday said it has entered into a pact with Bharat Electronics Ltd to develop and market products, systems and sensors for defence and non-defence applications. “A memorandum of understanding (MoU) was signed between Bharat Heavy Electricals Ltd (BHEL) and Bharat Electronics Ltd (BEL) during DEFEXPO 2020 at Lucknow,” BHEL said in a filing to the BSE. The pact aims at leveraging the complementary strengths and capabilities of BHEL and BEL to develop and market products, systems and sensors for defence and non-defence applications, the filing added. The MoU will also enable BHEL and BEL to make joint efforts to explore markets for products…
(ET) The government is planning to direct Indian Oil Corporation (IOC) to buy back shares before the end of this financial year, a move that can potentially cut its stake in the company to below 51 per cent depending on the proportion of shares offered by other shareholders, said people aware of the matter. The finance ministry is scrambling to shore up resources, in a year tax collections as well as divestment proceeds have fallen behind targets, and is exploring various options such as increased dividends by profitable state-run oil companies, share sale and buybacks. Officials are seriously considering asking IOC to launch…
(PTI) India has embarked on an ambitious target of having 450 GW of renewable energy by 2030 and also provide 17 lakh solar pumps to farmers under Pradhan Mantri-Kusum Yojana in coming days to capitalise on this clean resource, President Ram Nath Kovind said on Friday. The country is already working on the target of having 175 GW of renewable energy by 2022 which includes 100 GW of solar and 60 GW of wind energy. As of December 2019, 86 GW of renewable energy capacity has already been achieved. This includes 34 GW of solar and 38 GW of wind…
(LiveMint) The government will sanction the entire 1.12 crore houses under the Pradhan Mantri Awas Yojana (PMAY) by next month, Union Housing and Urban Affairs Minister Hardeep Singh Puri said in Rajya Sabha on Wednesday. “A revised demand assessment was made and now the demand is for 1.12 crore houses. I am sure we can meet that in terms of sanctioning in the next month or so,” he said during the Question Hour in the Upper House. The initial demand was to sanction and construct 1 crore houses by March 2022, he said.The Minister informed that so far, 32 lakh houses…