The recent measures taken by Reserve Bank of India (RBI) has some effect on stabilising rupee exchange rate against dollar. The central bank took some measures in order to make the domestic currency much costlier. In recent trading session, rupee-dollar exchange rate is hovering in a 58.80 to 59.20 range. Some sources hinted that foreign banks were seen selling the doll
Author: admin (Infratructure Today)
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PE investors struggle to exit investment
A study by Deloitte India shows that private equity investment in India exceeded $100 billion since 1995, but only $25 billion of the investment has been withdrawn. In other words, in 80 per cent of investment, PE players have not got their money back, are struggling to find an exit and in some cases even written off their investment
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Dena Bank wants govt to infuse Rs 20 bn capital
The tier-I capital of Dena Bank declined below 8 per cent by June 30 and this prompted the state-run bank to seek Rs 2,000 crore capital infusion from the central government, reports indicate. Ashwani Kumar, Chairman and Managing Director of Dena Bank expects the central government to provide this
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World Bank willing to finance preparation of master plans
Multilateral lending agency World Bank expressed willingness to finance the preparation of preliminary master plans of Auraiya Investment Zone and Allahabad-Naini-Bara Investment Zone. Recently, a team of officials from the World Bank met top officials of the UP government to plan the initiative. It may be recalled that the Uttar Pradesh government agreed to become a stakeholder in the Amri
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HPCL may choose Pachpadara site for refinery project
Media reports indicate that Hindustan Petroleum Corporation (HPCL) may prefer Pachpadara over Leelala for setting up the proposed refinery in a joint venture with Rajasthan government. It may be recalled that Engineers India (EIL) recommended HPCL to choose Pachpadara for the project. Also, the state Task Force approved the setting up of the refinery at Pachpadara over Leelala. The nine milli
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Net profit of GAIL declines on lower gas volume
Net profit of GAIL India declined 28.7 per cent to Rs 808 crore during April-June quarter from Rs 1,134 crore in the year-ago period. The country's largest gas transmission and marketing company witnessed 16 per cent growth in sales to Rs 12,856 crore during the quarter. The state-run utility witnessed fall in net profit as it transported less gas and its LPG margins declined on dryin
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Govt to benefit from natural gas price hike
In a report, Goldman Sachs said the government would stand to gain Rs 14,900 crore by way of royalties and taxes from the incremental gas price accruing to state-owned producers ONGC and Oil India in 2014-15 fiscal. The report said, "We note about 65 percent of incremental gas revenue from a price hike would flow back to the central and state governments as royalties, VAT,
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BMTC to run fleet on CNG once GAIL project takes off
Bangalore Metropolitan Transport Corporation (BMTC) would be able to run its fleet on CNG (compressed natural gas) once GAIL India sets up filling stations in the city. GAIL India, along with Karnataka government is in the process of setting up 25 CNG filling stations across Bangalore city to supply gas to BMTC. To undertake distribution of clean natural fuel for transport and other sec
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RIL to ramp up gas output from $6.5 bn investment
By 2019-20, Reliance Industries (RIL) aims to ramp up natural gas production from its KG-D6 fields to 60 mmscmd and to achieve this the firm plans to invest $6.5 billion. Owing to water and sand ingress in some of the wells, gas output from the fields declined to around 14 mmscmd recently from a peak of 69.43 mmscmd in March 2010
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ONGC to double its output in 17 years
Oil and Natural Gas Corporation's (ONGC) Assam asset has set in motion a multi-disciplinary approach to complete projects on time so as to double its production by 2030 from the current level of 1.21 million tonne per year. ONGC's ED-asset manager of Assam Asset, BK Baruah, said in Jorhat that more wells need to be drilled with the latest technology, emphasis has to be laid on opening up new horizons by strengthening exploration activities, a multi-disciplinary approach should be adopted to ensu