India’s top gas firm GAIL has done the world’s first ship-to-ship liquefied natural gas (LNG) transfer to save on shipping costs and cut emissions as the state-owned entity looks at innovative ways as a pivot to boost business, company officials said. GAIL has contracted 5.8 million tonnes per annum of LNG (natural gas super-cooled…
Stainless steel producer Jindal Stainless on Monday said Crisil Ratings has upgraded its rating to stable. Crisil Ratings upgraded the company’s rating to stable from positive, the company said. “Long-term bank facilities and debt programme of Jindal Stainless Ltd (JSL) were revised from Crisil AA-/Positive to Crisil AA/Stable,” the stainless steel producing company said…
Retail inflation declined to a four-month low of 4.87 per cent in October due to further drop in food prices, showed government data released on Thursday. This marks the second consecutive month when the consumer price index or CPI-based inflation has remained within the Reserve Bank of India’s comfort zone of below 6 per…
The retail inflation eased to a four-month low of 4.87 per cent in October, mainly due to cooling prices of food items, government data showed on Monday. The Consumer Price Index (CPI) based retail inflation fell to a three-month low of 5.02 per cent in September. The previous low inflation was recorded at 4.87…
India’s mutual fund industry experienced a substantial reduction in inflows during the second quarter, attracting Rs 34,765 crore. This figure represents a notable decline compared to the massive Rs 1.85 lakh crore inflow in the preceding quarter, primarily attributed to withdrawals from the debt segment. Despite the decline, the industry maintained overall positive momentum, with…
Energy regulator Ofgem has unveiled a plan to eliminate “zombie” wind and solar farms which are holding up the rollout of renewable electricity. A new queueing system will allow the company that runs the grid to kick unserious potential developers out of the queue if they do not meet key milestones. Serious developers have…
A second Chinese vessel carrying a ship-to-shore crane for the international deep-sea facility at Vizhinjam docked at the port on Monday, sources at the port said. The ship, Zhen Hua 29, had reached the Kerala coast on Nov. 9 and was awaiting clearance from the Ministry of Home Affairs to berth at the dock, the…
Power utility company Adani Electricity on Monday said it relied completely on renewable sources for supply of power to Mumbai for four hours on Diwali day. Adani Electricity supplied 1,200 MW of power from renewable sources to its 3 million subscribers between 10 AM and 2 PM, which meant that over 40 per cent…
In a strategic transfer, the Patel family, promoter of engineering firm GMM Pfaudler, is set to acquire an additional 1% stake in the company. The family will now own 25.18% stake in the company. The deal, valued at ₹1,700 per share, involves the purchase of 4.49 lakh equity shares from Pfaudler Inc. The transaction is…
India’s retail inflation eased in October, though headwinds to food inflation remain. The Consumer Price Index-based inflation stood at 4.87% in October, as compared with 5.02% in September, according to data from the Ministry of Statistics and Programme Implementation released on Monday. A panel of economists polled by Bloomberg had estimated a reading of…