India last year had asked utilities to import 6% of their coal requirements until March due to an unprecedented surge in power and coal demand. The Indian government has extended the mandate for the country’s power producers to import 6% of their coal requirements until June, despite adequate domestic availability, amid transport constraints and higher… Continue reading India extends mandate for utilities to import 6% of coal needs until June
Author: Economic Times of India Online News
Matrix Gas & Renewables raises INR 350 cr in pre-IPO round to fuel green hydrogen and gas projects
Hydrogen is a cleaner fuel than natural gas because the combustion of hydrogen in air produces heat and water vapour. New Delhi: Matrix Gas & Renewables Limited, a subsidiary of Gensol Group, announced a successful capital raise of INR 350 Crore in a pre-IPO round, marking a significant step in its growth strategy. The fund… Continue reading Matrix Gas & Renewables raises INR 350 cr in pre-IPO round to fuel green hydrogen and gas projects
Investment in manufacturing, EV, pushing Indian gears to compete globally: American Gear Manufacturers Association
A major emerging trend in the gear industry worldwide, Croson said, was vehicle electrification. India’s contribution in the global electric vehicles and aerospace market in the last few years has been on the rise, with a marked increase in volume and quality of high precision gears being exported from the country, American Gear Manufacturers Association… Continue reading Investment in manufacturing, EV, pushing Indian gears to compete globally: American Gear Manufacturers Association
Coal production surges by 11.83% in Feb
The output of public sector giant Coal India Limited (CIL) rose by 8.69% to 74.76 MT during the month from 68.78 MT in February 2023. New Delhi: The country’s coal production increased by 11.83% in February to 96.60 million tonnes compared to the corresponding figure of 86.38 MT in the same month last year, according… Continue reading Coal production surges by 11.83% in Feb
Adani Green’s USD 409-mn bond sale gets over 7 times bids
The pricing was tighter than the initial guidance of 7.12% earlier in the day as strong demand ensured that company could finally issue the bonds at 42 basis points below the initial guidance. Investors lapped up the first US dollar bond sale from the Adani Group since the Hindenburg report, with bids more than seven… Continue reading Adani Green’s USD 409-mn bond sale gets over 7 times bids
Exor takes 10% stake in data provider Clarivate, can rise to 17.5%
“Exor becomes a long-term investor in Clarivate, endorsing the strategic direction set out by the company’s management and board,” the companies said. Italy’s Agnelli family has a 10.1% stake in New York-listed information services provider Clarivate through their investment arm Exor, the two companies said on Monday, adding that Exor could increase its stake to… Continue reading Exor takes 10% stake in data provider Clarivate, can rise to 17.5%
Rupee to struggle on rise in US Treasury yields, weak Asia
While the RBI has likely been buying the dollar when the dollar/rupee pair drops to near 82.85, there has been interest from oil companies and other importers too, according to traders. The Indian rupee is expected to decline at open on Tuesday with U.S. Treasury yields pushing higher amid focus on the testimony from Federal… Continue reading Rupee to struggle on rise in US Treasury yields, weak Asia
US considers selling Northeast gasoline reserve in 2024 in draft bill
One barrel of gasoline contains approximately 42 gallons. Gasoline in New York Harbor is currently selling for about USD 2.29 per gallon. The United States may sell its 1 million barrel Northeast gasoline reserve in fiscal year 2024, according to the draft text of a funding bill released on Sunday. The reserve, first established in… Continue reading US considers selling Northeast gasoline reserve in 2024 in draft bill
Bajaj Auto to buyback shares worth INR 4,000 cr
Updated On Mar 4, 2024 at 10:49 PM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals Shareholders are encouraged to review the detailed information provided by Bajaj Auto Limited before participating in the buyback program. Bajaj Auto Limited, a leading automobile manufacturer, has revealed plans for a significant buyback program. The company… Continue reading Bajaj Auto to buyback shares worth INR 4,000 cr
Is the EV market ready to remove the mask of subsidies?
“The adoption rate of EVs in India may slow down, as cost remains a significant barrier for many potential buyers,” says Sohinder Gill, CEO, Hero Electric Vehicles India. New Delhi: Government subsidies aided the smoother acceptance of Electric Vehicles (EVs) in India by helping the OEMs make them affordable for the buyers. But the recent… Continue reading Is the EV market ready to remove the mask of subsidies?