The Nifty helped by these strong corporate earnings and renewed buying in realty space surged to a high of 6132 in late noon trades. Asian markets also ended in green as China's Purchase Managers Index spiked to 54.7 from 53.8 in September higher than the median projected pulling the Shanghai Composite up 2.5%. The Hang Seng jumped 2.4% to 23,652.
The Kalyani Group's flagship company Bharat Forge is planning to make a big foray into the power sector with an investment of up to Rs 50,000 crore (Rs 500 billion) and a targeted generation capacity of up to 10,000 MW, over the next ten years.
The company has set a target of adding at least 1,000 MW of power through renewable energy sources by the end of the next plan period (2012-17), sources said.
The Centre has finalised sweeping changes to the country's foreign direct investment (FDI) policy to account for increasing concerns voiced by security agencies.
Prime Minister Manmohan Singh on Friday dedicated to the nation the 450-MW Baglihar hydro electric power project built on river Chenab in Ramban district of Jammu and Kashmir.
IndiaBulls Power IPO's charged-up performance (the issue was subscribed 21.84 times) earlier this month had only one jarring note: the retail portion of the initial public offer barely scraped through, with a subscription of 1.09 times.
The CAG's audit of hydropower projects seems to be an effort for status quo that does not do justice to the formidable reputation it has attracted through some of its exemplary work
Experts and observers of India-China ties have warned that the current war of words between the two countries could spin the traditional Asian rivalry out of control. "The most urgent present job for both sides is crisis management," the Christian Science Monitor quoted Han Hua, an expert on South Asia at Peking University, as saying. "I don't think either government wants the situation to go further downhill," he added.He said, "The structural problem is leadership."
Indus Water Commissioner G Ranganathan has written a letter to his Pakistani counterpart Syed Jamaat Ali Shah inviting him for discussing the issue
Indiabulls Power, which is developing over 6,650 Mw from five thermal power projects by 2013, is planning to also bid for ultra mega power projects (UMPPs), besides foraying into renewable energy to grow as a major electricity producer. The company will bid for some of the coming UMPPs, after evaluating dedicated availability of coal and the market conditions, said Ranjit Gupta, chief executive officer, and Murali Subramanian, chief operating officer.
Last November, the Ganga was declared as a 'National River' and the NGRBA was set up as an empowered planning, implementing and monitoring authority for the Ganga River for which this year's budget has a special provision of Rs 250 crore. The NGRBA has as its members the chief ministers of four states through which the Ganga flows.
Prime Minister Manmohan Singh on Saturday announced a time-frame for infrastructural schemes under the massive Rs 24,000 crore package he had announced for the state last year. The prime minister said a Congress win in Arunachal Pradesh assembly will ensure better coordination with the United Progressive Alliance government at the Centre for speedy implementation of important schemes in the state.
The global giant, which recorded total revenue of 183 billion dollars in 2008, has presence in various verticals, including technology, energy infrastructure, transportation, aviation and enterprise solutions in India.
Attributing to three studies on agriculture, energy and migration, the ADB said on Wednesday the impacts of rising temperatures in Asia would fall disproportionately on the region's poor, and rural women from developing countries would be among the most affected groups.
In an open letter to President Barack Obama, the former ambassadors warned that if the US "continues to adopt a punitive posture towards Pakistan in the matter of civilian nuclear cooperation and to follow double standards in an area vital for Pakistan's security and economic development", the partnership between the two countries will remain fragile.
State-run utility NTPC plans to more than double its power generation capacity by 2017 from the current 30,000 MW, diversifying further into renewable and nuclear energy.
At present, India has an installed power generation capacity of over 1,51,000 MW, according to the data available on the ministry's website. Of this, hydel-power accounts for over 36,916 MW or nearly 25 per cent.
Out of 2,945 stocks traded, 1,634 advanced while 1,194 declined.
The move signals that the ministry has begun to take a tough stand on environmental clearances in ecologically sensitive areas.
The Petroleum Ministry has allocated additional natural gas from Reliance Industries' eastern offshore gas fields to three power plants to meet electricity deficit in northern states reeling under drought.
China has supported its 'all-weather' ally Pakistan's right to use nuclear energy for "peaceful purposes" to overcome its crippling power shortage, a spokesman of President Asif Ali Zardari said today.
The Pakistan government is reported to have raised the issue of its agrarian lands drying up due to India's water conspiracy with visiting United States Special Representative to Pakistan and Afghanistan Richard Holbrooke.
The Supreme Court today directed Kerala Chief Minister V S Achuthanandan and the state government to produce before it "necessary material" relating to a case of alleged corruption involving former state Power Minister R Balakrishna Pillai of Congress.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has signed a Rs 4,000-crore agreement with Larsen & Toubro Ltd, the engineering and construction major, for supply of equipment for its Nigrie Super Thermal Power Project in Madhya Pradesh.
The NSE Nifty closed at 4,481, down 104 points. The market breadth was fairly negative -- out of 2,748 stocks, 1,921 declined, while 745 advanced on the BSE.
In a written reply to a question asked in Parliament earlier this week, minister of state for power Bharatsinh Solanki admitted that the coal stock position at some of NTPC's power stations had depleted. NTPC Ltd, the country's largest power generator, however, denies any shortage of dry fuel.
In a written reply tabled on the floor during the ongoing monsoon session, the power minister said the formalities to sign PPA with Ratnagiri Gas and Power Project Limited are in progress. This pact is likely to help Goa to meet the increasing power requirement which currently varies from 280 MW to 440 MW.
It appears that there is some coordination between Chinese interlocutors, the Hekmatyar group, the Kabul regime and different tribal factions in Afghanistan and Pakistan. This indicates a long-term vision for the region, says Srikanth Kondapalli
An exercise to rationalise coal linkages which will optimize transport of coal and reduce cost of power is underway.
The government is set to exceed its 2009-10 disinvestment target of Rs 1,120 crore through the first company that is slated to go to the markets this year -- NHPC.
The country's largest power equipment maker, BHEL, on Thursday said it is sitting on comfortable cash reserves but if the government is keen on an FPO to raise money it could be done in the next financial year.
NHPC would infuse 10 per cent fresh equity through this public offer to raise Rs 1,680 crore (Rs 16.8 billion), while the government will divest its five per cent stake in the company.
G Madhavan Nair is punished by being barred from all government jobs. P Chidambaram continues to hold one of the most powerful offices in the government. Is that equal treatment? asks T V R Shenoy.
Union Power Minister Sushil Kumar Shinde on Thursday said state-owned hydro-electric giant NHPC will come out with its initial public offering (IPO) within two months.
The NSE Nifty ended at 4,424, up 75 points. The market breadth was marginally positive -- out of 2,686 stocks traded, 1,341 advaned while 1,263 declined.
RIL will shut a 325,000 barrels per day crude distillation unit (CDU) at J-1 from July 3, a company statement said.
Bangladesh Premier Sheikh Hasina has said she hoped to resolve the Tipaimukh Dam issue with India through talks in co-operation with her arch-rival Khaleda Zia's Bangladesh Nationalist Party, which is opposed to the cross-border hydro-power project in Manipur.
"The company plans big in three areas infrastructure, energy and aviation, but our main focus is to manufacture windmills and turbines," GE India President and CEO Tejpreet S Chopra told PTI. GE which installed first hydro power plant in 1902 presently has a headcount of 14,500 in India.
The Central Bureau of Investigation on Thursday filed a chargesheet against Communist Party of India - Marxist Kerala Secretary Pinarayi Vijayan in a graft case. After receiving Governor R S Gavai's sanction four days ago to prosecute 69-year-old Vijayan, overruling the state cabinet recommendation, the CBI filed the 11-page chargesheet in a special court in Kochi, naming Vijayan and eight others as accused in the case.
The split in the Kerala Communist party of India - Marxist grew wider on Wednesday, with Chief Minister V S Achuthanandan defying the politburo line on Governor R S Gavai's decision to give sanction to prosecute Secretary Pinarayi Vijayan in a corruption case, saying it neither shocked nor surprised him.
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