IGI Logo

Key News 

RIL-BP seek buyers for 5.5 mn standard cubic meters per day gas from KG-D6

Reliance Industries Ltd and its partner BP Plc of UK have sought bids for sale of 5.5 million standard cubic meters per day of additional natural gas that will be available for sale from their eastern offshore KG-D6 block. The e-auction is slated for April 23 and the gas supply will start from late April or early May, according to the tender document. Bidders will have to quote a price linked to Platts JKM (Japan Korea marker), the liquefied natural gas (LNG) benchmark price assessment for spot physical cargoes.

SAIL clocks best quarterly sales at 4.27 MT during Jan-Mar quarter

Steel Authority of India Ltd (SAIL) clocked its best ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year, up 14 per cent over the year-ago period. The domestic steel giant's crude steel production too increased by 6 per cent during the quarter to 4.55 MT. "(SAIL), the Maharatna PSU, has recorded its best ever quarterly performance in both production and sales during Q4 FY'21," the company said in a statement. The company had clocked 3.74 MT sales and 4.31 MT crude steel output during the January-March quarter of the fiscal 2019-20

Adani Enterprises bags Rs 1,169 cr highway project from NHAI in Odisha

Adani Enterprises on Friday said it has won a Rs 1,169.10 crore highway project in Odisha from the National Highways Authority of India (NHAI). The contract has been won by Adani Enterprises' wholly-owned subsidiary Adani Road Transport Ltd (ARTL). "ARTL has received a letter of award (LOA) for ...development of Six Lane Badakumari - Karki Section of NH-130- CD Road ... under Raipur-Visakhapatnam Economic Corridor in the State of Odisha on HAM (hybrid annuity mode)," the company said in a regulatory filing to the BSE. The company said its bid project cost is Rs 1,169.10 crore and the construction period is two years.

At 7.2%, India blends record ethanol with petrol in first 4 months

Ethanol blending in India has reached more than 7.2 per cent — the first time it has reached this level — in the first four months of the ethanol supply year 2020-21 (December to November), putting the country on course to meet the target of 10 per cent blending by 2022. According to industry sources, if oil-marketing companies (OMCs) lift the ethanol they had contracted for, in the next few months all-India average blending could be even near 8 per cent by the time the season ends in November. So far, the best ever ethanol blend with petrol has been around 5.2 per cent at allIndia level.

SC order on interest waiver: PSU Banks may have to take Rs 2,000 cr hit

Public sector banks may have to bear a burden of Rs 1,800-2,000 crore arising due to a recent Supreme Court judgement on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020, sources said. The judgement covers loans above Rs 2 crore as loans below this got blanket interest on interest waiver in November last year. Compound interest support scheme for loan moratorium cost the government Rs 5,500 crore during 2020-21 and the scheme covered all borrowers including the prompt one who did not avail moratorium. According to banking sources, initially 60 per cent of borrowers availed moratorium and gradually the percentage came down to 40 per cent and even less as collection improved with ease in lockdown. In case of corporate, this was as low as 25 per cent as far as public sector banks were concerned.

To Read Complete Report & Disclaimer Click Here

Above views are of the author and not of the website kindly read disclaimer