IPA Special

Oil Slips Below $124 On Supply Assurance

Saudi Arabia Says It Will Take Oil Prices To Fair Levels   LONDON: Brent crude fell more than $2 to around $123 a barrel on on Tuesday as Kuwait said Iran had reassured the Gulf state it would not close the strategically important Strait of Hormuz shipping lane and...

Mar 21 · >

Mobius Bets On Further Oil Price Increases

SINGAPORE: Franklin Templeton funds that focus on developing economies are heavily invested in energy stocks, as the firm believes oil prices have room to increase further, the head of its emerging markets group, Mark Mobius, said on Tuesday. “If you look at inflation and the oil price over the...

Mar 21 · >

India, China Not Spared From US Sanctions On Iran Oil

WASHINGTON: The United States exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian crude oil, but left Iran’s top customers China and India exposed to the possibility of such steps. The decision announced on Tuesday is a victory for the 11...

Mar 21 · >

Tax Sops To Check Power Generation Cost

NEW DELHI: Concessions on duty and tax proposed for the power sector will not only help attract investment but will also keep a check on rising electricity generation costs. That should help the government’s mission to boost competitiveness in the manufacturing sector, though in a limited way. The finance...

Mar 21 · >

NTPC To Invest 20% Less In FY13

NEW DELHI: At an investment size of Rs 20,995 crore, the country’s largest power producer, NTPC, would invest about 20 per cent less in 2012-13, compared to 2011-12, when it was estimated to spend around Rs 26,400 crore. The investment next year would be for adding new capacity of...

Mar 21 · >

Reliance Power Draws Utilities' Fire As 4 States Slap Rs 400-Crore Fine On Krishnapatnam Project Delay

HYDERABAD: Four states have slapped a fine of Rs 400 crore on the Reliance Power entity setting up one of India’s largest power projects, worsening troubles for a prestigious venture which has been in a limbo for about nine months. Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra, which have...

Mar 21 · >

Bajaj Energy Ceases To Be Subsidiary Of Bajaj Hindusthan

NEW DELHI:India’s largest sugar firm Bajaj Hindusthan today said Bajaj Energy, which is setting up five power plants in Uttar Pradesh with a total capacity of 450 MW, has ceased to be its subsidiary. Bajaj Hindusthan’s stake in Bajaj Energy — the special purpose vehicle for 450 MW coal...

Mar 21 · >

IFC To Invest $20 Million In India's First Clean Energy Fund Nereus

CHENNAI: International Finance Corporation (IFC) will invest about $20 million in Nereus India Alternative Energy Fund, a $250-million fund that would focus on renewable and clean energy companies in India. It is the country’s first fund dedicated to renewable energy. IFC’s proposed investment comes with a cap of 20...

Mar 21 · >

Australia's New Mining Law To Impact Acquisitions

MUMBAI/AHMEDABAD/NEWDELHI: The Australian government’s move to impose 30 per cent tax on coal mining and iron ore profits might not affect any Indian investment in that country immediately, but could have an impact on Indian companies, including state-run mining major Coal India Limited (CIL), which are scouting for assets...

Mar 21 · >

Despite ONGC Blip, SEBI May Not Tweak Share Auction Route Norms

MUMBAI: The Securities and Exchange Board of India (Sebi) is not planning to make any changes to the recently-introduced offer for sale (OFS) or the auction route. There was a perception it may tweak norms after the bumpy share auction of Oil and Natural Gas Corporation (ONGC) earlier this...

Mar 21 · >