Mukesh Ambani’s Reliance Industries said to mull India power storage with BP
Posted on 22nd August 2017 |
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| Mumbai/New Delhi: Reliance Industries Ltd, owned by Mukesh Ambani, is considering entering the power-storage business with its partner BP Plc. to expand into the country’s growing renewable energy sector, according to two people with knowledge of the plan. The companies are considering a plan to set up energy-storage projects near solar- and wind-energy installations, the people said, asking not to be identified, citing company policy. A decision on investment and implementation will be taken by December, they said. Reliance didn’t respond to requests for comment. BP declined to comment. The push into power storage dovetails with Prime Minister Narendra Modi’s efforts to boost the country’s reliance on renewable power and set it on track to sell only electric cars by 2030. Global oil majors such as Royal Dutch Shell Plc., Total SA and Exxon Mobil Corp. are investing in new-energy technologies to improve electricity grids and develop fuels from renewable resources. Reliance has been seeking to enter the business since 2009, when it first announced plans for alternative-energy businesses. Reliance and BP in June said they were extending their partnership to sell conventional fuels as well as explore opportunities in clean energy. Last month, Mint reported that Reliance is planning to sell liquefied natural gas at its fuel-retailing outlets and set up charging stations for electric vehicles. |
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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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