HPCL gets ministry’s nod to pilot composite LPG cylinders in three cities Posted on 26th August 2017 |
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| After years of dithering, composite liquefied petroleum gas (LPG) bottles are set to be tested in the Indian markets, with the state-run Hindustan Petroleum (HPCL) getting the go-ahead from the ministry of petroleum and natural gas. Though attempts to test the fibre-made bottles, safer and lighter than the metallic cylinders in use, can be traced back to 2012, these haven’t hit the market yet due to the lack of requisite approvals from various agencies such as Indian Standards Institute. The relatively higher cost of the composite cylinders has also been hurdle. “The ministry has given permission to HPCL for testing the cylinders,” said a ministry official requesting anonymity. The advantages of these cylinders are that they do not blast even when engulfed by fire and given its translucent nature, customers will be able to see the amount of LPG in the cylinders, a deterrent against pilferage. Time Technoplast, one of the manufacturers of this category of cylinders, exports almost all cylinders it makes to countries in south Asia, Africa and West Asia, among others. HPCL in a written reply to FE’s queries said it would be piloting the roll out of composite cylinders on behalf of the industry. “While all the required approvals are in place, the launch will be done shortly, on completing other requirements. The pilot launches are proposed in Ahmedabad, Mumbai/Navi Mumbai and Pune,” it said. The development comes at a time when the number of LPG users has spiked thanks to the government’s Pradhan Mantri Ujjwala Yojana (PMUY) which envisages to provide LPG connections to 5 crore women belonging to the below-poverty-line category. Since the launch of the scheme in May 2016, the number of beneficiaries has already crossed 2.5 crore. The improved cylinders will also ensure lesser number of untoward incidences among the PMUY users who are using LPG for the first time. The government has taken various steps such as advertisements, safety clinics, among others, to spread awareness about safe use of LPG cylinders. Composite cylinders can be in capacities of 2kg, 3kg and 10kg, however, this is expected to cost more compared with same-sized steel cylinders. A customer makes a deposit of Rs 1,400 for 14.2kg steel cylinders at present which can go up to Rs 2,000 if fibre-made cylinders are used. Upon completion of the pilot study, which is proposed for a period of two years and basis the findings, other OMCs — Bharat Petroleum and Indian Oil — will finalise the roll out to other parts of the country. |
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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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