NTPC puts off plan to sell Kayamkulam unit to Kerala government Posted on 12th July 2018 |
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| NTPC, currently high on solar energy plans, has shelved the plan to sell its Kayamkulam facility (Rajiv Gandhi Combined Cycle Power Station – RGCCPS) to the Kerala government. It was the Union power ministry that had first mooted sale of RGCCPS-Kayamkulam to the Kerala government. In fact, Union power minister Piyush Goyal and Kerala power minister MM Mani had even arrived at an in-principle understanding on the sale before price became a contentious issue. The plant faced poor demand arising out of high cost of production. Rise in prices of naphtha, the fuel used in the plant, has been the main reason behind unprofitable operations. Interestingly, NTPC, which is reluctant to sell RGCCPS to the Kerala State Electricity Board (KSEB), is counting on selling solar energy (proposed to be generated in RGCCPS) to the KSEB. In March this year, NTPC installed a 100 kwp floating solar PV plant, the country’s largest solar panel of its kind, at its Kayamkulam station. This floating platform was indigenously developed by the NTPC Energy Technology Research Alliance, the R&D arm of NTPC, in collaboration with the Central Institute of Plastic Engineering & Technology. Sources in the KSEB confirmed that NTPC has declined to go ahead with further discussions over selling RGCCPS to the state government. The KSEB, meanwhile, is sceptic about the feasibility of receiving solar power from RGCCPS to the grid, as it could cause voltage surge and other technical glitches, officials told FE. Through RGCCPS-Kayamkulam, NTPC has offered to supply solar power to Kerala at a rate of Rs 3 per unit. On May 11, NTPC and KSEB had signed an MoU that includes an agreement to set up a 15 MW solar power unit in the Kayamkulam station.The Kerala government, which had given 1,000 acre free of cost to set up the Kayamkulam plant, wants to get back the premises with the power station at depreciated value. Meanwhile, NTPC spokesperson at Kayamkulam said talks of NTPC Kayakmulam changing hands were baseless and that the unit was busy with plans to enhance solar energy generation. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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