Over 15,000 MW capacity plants stuck on zero gas supply by RIL

Non-supply of natural gas from Reliance Industries’ (RIL) KG basin has left over 15,000 MW gas-based capacity stranded in the country. The idle units comprise central, state as well as private power plants. The supplies from KG-D6 block to power plants were snapped in March this year after output from the eastern offshore fields dropped to an all-time low….

JSW Energy posts Rs 334 crore net profit for March quarter. Beats estimates.

Lower international coal price price and strong tariffs helped JSW Energy’s earnings for the March 2012 quarter were higher than the analyst estimates. The company reported a net profit of Rs 334 crore, while the analyst estimates was Rs 311 crore. Its profit was Rs 230 crore last year and Rs 312 crore in the…

CCI Clears Investment in Oil Blocks & Power Projects.

The government has cleared investments in another 25 oil blocks, which the defence ministry had opposed, approved 13 projects of power sector involving Rs 33,000 crore investments, but deferred a decision on coal price pooling. The Cabinet committee on investment (CCI) gave conditional clearance to 16 oil blocks while nine others were approved without any…

Siemens Signs Rs 104.40 Cr Contract With BSRM (Bangladesh Steels Re-Rolling Mills)

  Siemens has inked a contract worth Rs 104.4 crore with Bangladesh Steels Re-Rolling Mills (BSRM), the largest steel manufacturing company in Bangladesh, to build a Gas Insulated Switchgear (GIS) substation. This is the first private sector-funded GIS substation project and has the largest order size in the GIS segment in Bangladesh. BSRM will be…

ADAG Group Shares Lose Rs10000 Crores In Market Capitalization In A Week.

Shares in Anil Ambani group of companies have fallen sharply amid a broad selloff across equities. Reliance Power, Reliance Communications, Reliance Infra, Reliance Capital and Reliance Media have together lost over Rs. 10,000 crore in market capitalization since March 14, 2013. All these stocks have fallen for five straight days and are on course to…