In a pivotal move to boost the demand for Green Hydrogen and its derivatives, the Solar Energy Corporation of India (SECI) has issued a Request for Selection (RfS) for Green Ammonia producers. This initiative, undertaken through cost-based competitive bidding under Mode 2A of the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme, aligns with the…
India’s domestic air traffic is expected to rise by 6 to 8 percent, reaching 161 to 164 million passengers in the current financial year, according to a report by aviation advisory firm CAPA India. The report also projects a significant increase in international air traffic, which is expected to jump 9 to 11 percent, totaling…
Prime Minister Narendra Modi has claimed a historic third consecutive win in the parliamentary elections, though his ruling alliance appears to have fallen short of the large majority predicted.** Modi thanked voters and pledged to continue the “good work” of the past decade. His BJP-led alliance is leading in more than 290 of the 543…
Shares of public sector enterprises (PSUs) and state-owned banks (PSBs) tumbled up to 24% yesterday as vote counting trends indicated that the BJP was not securing a clear majority in the Lok Sabha elections. The Nifty PSE Indices saw a sharp decline of 1,856.70 points, or 16.38%, closing at 9,475.10. REC’s share price fell by…
India’s GDP growth remains robust, driven by solid investment demand and supported by the healthy balance sheets of banks and corporations, according to the Reserve Bank of India (RBI). The central bank’s Annual Report for 2023-24, released on Thursday, also attributes this growth to the government’s focus on capital expenditure and prudent monetary, regulatory, and…
Breaking all previous records, NBCC has achieved an unprecedented milestone by crossing an operational income of Rs 10,400 Cr., marking a new era of success and growth. This remarkable achievement underscores NBCC’s commitment to excellence and resilience in navigating challenges, propelling the company to new heights of financial prowess and market leadership. The company reported…
Oil and Natural Gas Corporation (ONGC) Limited is poised to throttle back on its deleveraging efforts over the next 12-24 months, diminishing the wiggle room for the state-owned entity’s standalone credit profile of ‘bbb+’, according to S&P Global Ratings’ announcement. The heightened investment trajectory at ONGC is anticipated to decelerate its deleveraging momentum over the…
NTPC Ltd declared its financial results for the fiscal year 2023-24, reporting a significant increase in electricity generation and profitability. The company, India’s largest integrated power utility with an installed group capacity of 76,015 MW, achieved its highest-ever annual electricity generation of 422 Billion Units in FY24, up by approximately 6% from 399 Billion Units…
At least 21 global organizations have urged the Supreme Court of India to expedite the resolution of pending cases against Adani Group firms for allegedly overvaluing coal imports. The appeal follows a report by the London-based Financial Times, which cited documents from the Organized Crime and Corruption Reporting Project (OCCRP), suggesting that Adani Group had…
India is actively engaging with Sri Lanka to secure graphite mines in the island nation to meet the growing demand for this critical mineral, primarily used in lithium-ion and other batteries. The Indian Government has initiated discussions with Sri Lanka regarding the potential acquisition of graphite mines, sources revealed. While the talks are still in…
