NTPC withdraws power regulation notice to BSES discoms
Posted on 19th May 2016 |
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| Days after NTPC issued a notice to Delhi-based BSES power distribution companies regarding regulation of power supply due to pending dues, the state-run power generator has withdrawn the notice after an amicable settlement was reached between the two parties. The settlement talks were mediated by the Delhi Electricity Regulatory Commission (DERC). NTPC withdrew the notice in view of the payment schedule communicated by the discoms, a source privy to the development told FE. Earlier this month, NTPC had said it would start regulating power as the discoms had failed to clear dues amounting to `1,300 crore. Reliance Infra-promoted BSES discoms have`16,000 crore of undisputed regulatory assets, accumulated over the years due to inadequate tariff hikes that were not commensurate with electricity procurement cost. As per the BSES’ communication to DERC, the discoms’ cost of buying power has increased by around 300%, while the retail tariff has increased by around 90% since 2002. In the last two years, BSES discoms have paid in excess of `9,500 crore to NTPC. |
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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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