Saturday, April 21, 2018

HMT incurs Rs 2.39-crore loss: Report

HMT Machine Tools, Kalamassery, which was the only profit-making unit of the ailing HMT Machine Tools, has recorded a loss of Rs 2.39 crore in the just-concluded financial year.
Its profit last year was Rs 85 lakh. The unit’s production dipped from Rs 59.01 crore in the previous fiscal to Rs 44.31 crore in the financial year ended this March.
While the production of computer numerical cutting machines (CNC) worth Rs 24 crore for various clients was completed, some observations made by...

Friday, April 20, 2018

ONGC is hiring: Over 1,000 posts up for grabs, apply online by May 3

MAHARATNA PSU Oil And Natural Gas Corporation Limited (ONGC) has issued notifications for a number of posts for Engineering and Geo-Sciences. Desired candidates may apply through the prescribed format on or before...

Thursday, April 19, 2018

Oil India gets its first ever patent from European Patent Office

OIL India has been granted patent by the European Patent Office for an invention titled ' A method for preventing wax deposition in oil wells with packers.'
Securing this first-ever patent grant signifies a major milestone for OIL and especially its Research& Development (R&D) Unit, which actively develops innovative solutions to oilfield exploration and production problems and has filed few other patent applications in recent years.
The patent grant amounts to recognition of the uniqueness of...

Tuesday, April 17, 2018

Air India staff unions resort to social media to air protest against disinvestment plan: Report

AS MANY as 11 Air India unions representing more than 10,000 employees have taken to social media like Twitter, YouTube, Instagram and Facebook to protest against the stake sale plan. They are visibly worried over possible job losses post disinvestment. Messages and graphics with 'Save Air India' slogan are being posted on various social media platforms. People are also being urged through WhatsApp messages to raise their voice against the...

Monday, April 16, 2018

MTNL requires over Rs 1000 cr to support VRS to its staff: Report

MTNL has demanded more than Rs 1000 crore as support from the central government to offer VRS to its employees. Besides, the telecom firm, that operates only in two circles – Delhi and Mumbai – has requested the government to frame its VRS as per the Gujarat model of VRS, the Rajya Sabha was informed.
“MTNL has submitted a proposal to the Department of Telecommunications for Voluntary Retirement Scheme (VRS) based on Gujarat pattern,” telecom minister...

Saturday, April 14, 2018

Four foreign carriers show interest in Air India's disinvestment: Report

AMIDST reports of Indian carriers Jet and IndiGo opting out of the Air India's disinvestment process, four major international airlines — including British Airways, Lufthansa and Singapore Airlines — are showing interest in Air India’s disinvestment.
A Gulf carrier has also shown interest, a national daily reported quoting official sources. One of the airlines already...

Thursday, April 12, 2018

ONGC kick starts its well on $5 bn KG project

STATE-owned Oil and Natural Gas Corp (ONGC) has kick-started its USD 5.07 billion KG oil and gas project by spudding the first of the 34 wells, targeting first gas by end of 2019.
Well #KDG-A on the KG-DWN-98/2 or KG-D5 block in Bay of Bengal was spud from drillship Platinum Explorer 35 km off the Andhra Pradesh coast, the Maharatna PSU said in a statement.
"The well #KDG-A is one of the 34 wells planned under this...

Wednesday, April 11, 2018

Modi gives 100-day deadline to PSU heads for development roadmap; Outlines 5 challenges before them

PM Modi addressing the CPSE conclave 
OUTLINING a 100-day deadline to the heads of central public sector enterprises (CPSEs) to come out with a roadmap with "measurable targets" for strengthening state-owned companies and promoting development activities, Prime Minister Narendra Modi on April 9 suggested that...