Thursday, November 23, 2017

Good news for PSU employees: Cabinet nod for wage revision policy

THE Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises (CPSEs).
“Management of the CPSEs would be free to negotiate wage revision for workmen where the periodicity of wage settlement of five years or ten years has expired generally on 31.12.2016 keeping in view the affordability and financial sustainability...

Wednesday, November 22, 2017

OVL to buy 15% stake offshore Namibia block: Report

OVL CMD NK Verma
ONGC Videsh, the overseas arm of Oil and Natural Gas Corporation (ONGC) will be acquiring stake in offshore Namibia block. A company statement said that OVL through its wholly owned indirect subsidiary ONGC Videsh Vankorneft Pte. Ltd (OVVL)) has signed definitive binding agreements with Tullow Namibia Ltd (Tullow), a wholly...

Tuesday, November 21, 2017

Diversification: SAIL to export to new markets in Africa, Asia: Report

GIVING a new direction to its marketing strategy, Steel Authority of India Ltd (SAIL) is scouting to enhance its presence in the global markets through exports. 10 per cent of SAIL’s saleable steel production will be targeted for the new markets overseas, including Africa, Philippines, Indonesia, Thailand, Sri Lanka and Bangladesh, an executive of the PSU said.
“SAIL is also streamlining its channel management to address the needs of customers in untapped geographies. In the times to come, SAIL would...

Monday, November 20, 2017

NHPC keen to bid for Nepal's $2.5 bn power project pulled from China: Report

NHPC could bid for a $2.5 billion hydropower project in Nepal, its chairman told a news agency, after Kathmandu cancelled a deal with China Gezhouba Group Corp.
China and India jostle for influence over infrastructure projects in Nepal and the deal with China was scrapped after it was criticised for being handed to the company without any competitive bidding.
State-run NHPC could look at developing what will be the country's biggest hydropower plant, its Chairman Balraj Joshi told Reuters.
"It is too early to talk about...

Saturday, November 18, 2017

Good time: HMT logs Rs 59 lakh profit in Q2

STATE-owned HMT Limited has reported a net profit of Rs 59 lakh for the second quarter ended September 30, mainly due to higher income from operations.
The beleaguered PSU had posted a loss of Rs 28.89 crore in the corresponding quarter last fiscal.
The Bengaluru-based manufacturing firm’s total income from operations increased to Rs 6.21 crore during the second quarter from Rs 4.59 crore in the same period last year. During the quarter, its total expenses reduced to Rs 5.26 crore...

Friday, November 17, 2017

Air pollution: NTPC to mix crop residue with coal to curb stubble burning

IF YOU are finding it tough to breathe fresh air in Delhi and other parts of NCR, here is a piece of good news for you. The power ministry has directed power utility NTPC Ltd to mix crop residue up to 10 per cent with coal as fuel for all of its thermal power plants to reduce stubble burning in a bid to tackle air pollution. NTPC will soon float a tender to buy farm stubble at Rs 5,500 per tonne for power plants, a move that will check farmers from burning it -- a key source of pollution in the national capital region (NCR).
“We are talking to generators of NTPC. We examined that 10 per cent of straw pellets, stubble or briquettes can be mixed with coal. NTPC is...

Thursday, November 16, 2017

Lifeline: MTNL narrows Q1 loss to Rs 731 crore

STATE-run telecom firm MTNL has reported narrowing of standalone loss to Rs 730.64 crore in the second quarter ended September 30, 2017 mainly on account of reduction in employees remuneration and benefits. The PSU had posted a loss of Rs 768.32 crore in the same period a year ago.
The employees remuneration and benefits, which accounts for about 70-80 per cent of MTNLs total income, reduced to Rs 623.19 crore in the reported...

Wednesday, November 15, 2017

Engineers India Limited is hiring; apply by Nov 28

ENGINEERS India Limited, a premier engineering consultancy and turnkey contracting organization executing projects in the fields of refineries, petrochemicals, pipelines, offshore, metallurgy, infrastructure, fertilizers, etc., invites applications for engagement as Apprentices under Apprentices Act, 1961 as amended from time to time. Engineers India Limited (EIL) is a Navratna PSU of the Government of India under the Ministry of Petroleum and Natural Gas. It was set up in 1965 to provide...