Friday, November 16, 2018

NTPC, 3 other PSUs included in CPSE ETF

THE Finance Ministry has reconstructed the CPSE Exchange Traded Fund (ETF) and has included in the basket the scrips of four State-owned companies NTPC, SJVN, NLC and NBCC, an official said. The ministry has removed three of the existing companies GAIL, Engineers India Ltd. (EIL) and Container Corporation of India in the ETF basket and has replaced them with four new companies. “NTPC, SJVN, NLC and NBCC have been included in the CPSE ETF, while GAIL, EIL and Container Corporation removed from the basket. CPSE ETF now has scrips of 11 State-owned companies as against 10 earlier,” an official told PTI.
The Ministry is planning to launch the follow-on public offer of CPSE exchange-traded fund (ETF) by the end of this month and is aiming...

Thursday, November 15, 2018

BHEL commissions 120 MW Pulichintala hydro project in Telangana

BHARAT Heavy Electricals Limited (BHEL) has fully commissioned the 120 MW Pulichintala Hydro-Electric Project (HEP) in Suryapet district of Telangana. While it commissioned the fourth and final 30 MW hydro generating unit, BHEL had earlier commissioned three units of the 4x30 MW Pulichintala HEP, which are being operated. The Greenfield project has been set up for Telangana State Power Generation Corporation Limited (TSGENCO) on the river Krishna.
Power generation from Pulichintala HEP will contribute...

Wednesday, November 14, 2018

Good show: NALCO's H1 net profit jumps three-fold

NATIONAL Aluminium Company Limited (Nalco), a Navratna PSU under the Ministry of Mines has repeated its strong performance by posting a turnover of Rs 5,952 crore in the first half of FY 2018-19, i.e. 42 percent growth over H1 of FY 2017-18. The net profit of the PSU has gone up from Rs.364 crore in H1 of the previous fiscal (2017-18) to Rs 1197 crore during the first half of 2018-19, registering a growth of 229 percent, the PSU said in a statement.
While the net profit of Nalco in the H1 of current fiscal has increased...

Tuesday, November 13, 2018

Govt plans to sell 149 oil fields of ONGC to private companies: Report

THE NDA government is planning to sell around 149 small and marginal oil and gas fields of ONGC to private and foreign companies and allow the state-owned firm to focus only on big fields.
On the anvil is some kind of extension of the Discovered Small Field (DSF) bid round where discovered and producing fields of Oil and Natural Gas Corp (ONGC) are auctioned to firms offering the maximum share of output to the government, PTI reported quoting some sources.
This is the second attempt by the oil ministry to take away some of the fields of ONGC for private and foreign companies.
Earlier, in October last year, the Directorate General of Hydrocarbons (DGH) had identified 15 producing fields with collective reserve of 791.2 million...

Saturday, November 10, 2018

Air India Express net slips 11% to Rs 262 cr in FY18

AIR India Express, the low-cost international arm of national carrier Air India, has reported an 11 per cent dip in net profit at Rs 262 crore in fiscal 2018, due to high fuel cost and poor growth in the Gulf economies, but could still remain profitable for the third successive year.
The Kochi-headquartered...

Friday, November 9, 2018

Milestone; BHEL-supplied equipment at Kaiga power plant create world record

EQUIPPED with BHEL-supplied sets, the 220 MW Unit 1 at the indigenously developed Kaiga Atomic Power Station (KAPS) of Nuclear Power Corporation of India Ltd (NPCIL), has created a world record for continuous operation.
Notably, the complete Steam Turbine Generator set and all the Steam Generators for the above unit of NPCIL have been manufactured and supplied by BHEL.
The unit now stands first amongst all the Pressurized Heavy Water Reactors (PHWR) in the world in terms of uninterrupted operation. Significantly, the unit...

Thursday, November 8, 2018

Q2 results: PGCIL posts Rs 2,309.49-cr net profit; GAIL net jumps 50%

POWER Grid Corporation of India Limited (PGCIL) has reported a Rs 2,309.49-crore net profit for Q2 FY19, 7.87 per cent higher than the Rs 2,141.04 crore reported in Q2 FY18.
Total income rose nearly 16 per cent to Rs 8689.95 crore. The PSU also reported significantly...

Tuesday, November 6, 2018

SAIL Q2 profit misses target, GAIL profit jumps 50%

COUNTRY'S largest steel maker SAIL posted a standalone profit of Rs 553.69 crore for the July-September quarter of 2018-19 driven by an impressive growth in income.
The steel PSU had posted a standalone loss of Rs 539.06 crore in the July-September period of the previous fiscal.
The standalone income during the second quarter increased by 23.1 percent to Rs 16,832.37 crore, compared to Rs 13,666.05 crore in the year-ago period, according to a regulatory filing by SAIL.
Total expenses increased to Rs 15,950.21 crore during...