Posts

RIL, others refute govt's claim on KG Basin

New Delhi: Reliance Industries Ltd (RIL) on Thursday strongly refuted in the Supreme Court the Centre's claim that the company and its two offshore partner firms allegedly siphoned from the Krishna-Godavari basin deposits gas which migrated to their area from the state-owned ONGC gas field.A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi was hearing the appeals of RIL, BP Exploration (Alpha) Ltd and Niko (NECO) Ltd against a Delhi High Court verdict that set aside an arbitral award in their favour in the gas migration dispute with the Centre.The firms assailed the February 14, 2025 order of the high court setting aside an order of the single-judge bench that had upheld the arbitral award in favour of RIL and its two partners for allegedly siphoning gas from deposits they had no right to exploit.The oil ministry on November 4, 2016, slapped a demand of USD 1.47 billion on the Reliance-BP-Niko combine for producing in seven years ending March 31, ...
Post a Comment
Read more

Fewer top-ups mark FMCG buying shift

Mumbai: Indian consumers are ringing in caution. Shoppers are making fewer trips to buy FMCG but spending significantly more every time they step into a store, signalling a sharp behavioural shift in how households are managing inflation and daily consumption.According to a report by Worldpanel by Numerator (formerly Kantar), average FMCG purchase occasions softened to 156 trips annually from 158 in FY24, while spend per shopping occasion rose from ₹121 to ₹139 over the last two years and from ₹130 to ₹145 in the March quarter of 2026.Categories such as biscuits, snacks and noodles are increasingly shifting from spontaneous top-up purchases to planned-basket buys, pointing to a more cautious and deliberate consumer environment and marking a reversal from the post-pandemic consumption cycle that was driven by convenience, quick commerce and impulse-led spending. from Economic Times https://ift.tt/5gV9pCl
Post a Comment
Read more

India power demand hits record 265.4 GW

New Delhi: India's peak power demand continues to scale fresh highs, touching a record 265.4 GW on Wednesday as heatwave conditions and high temperatures persisted across large parts of the country.The latest peak surpassed Tuesday's all-time high of 260.5 GW recorded during solar hours. The latest demand levels have already crossed last summer's record peak of 243 GW, and even those recorded during the evening. The peak demand recorded is inching closer to the projected 271 GW for the season.Most of the peak consumption was met by thermal power contributing 61.2%, solar energy came next with 21.5%, wind and hydro contributed over 6% each, while nuclear contributed 2.6%, among contributions from other sources, an industry official said.According to a person familiar with the matter, the power ministry has prepared and ensured available capacity to meet peak demand of up to 280 GW.A power ministry statement issued after Monday's peak demand touched 257.37 GW said the cou...
Post a Comment
Read more

Tata Steel UK wins US steel tariff exemption

London: Tata Steel UK has secured an exemption from US tariffs that will allow it to export steel processed in Britain at the lower duty rate applicable to UK shipments, even though the raw material is produced overseas.Under President Donald Trump's trade measures, most steel imports into the US face a 50% tariff. The UK, however, has been granted a lower 25% levy, though imports are typically subject to strict "melt-and-pour" rules requiring the steel to be fully produced within Britain.The exemption means steel processed at Tata's Port Talbot plant in Wales and shipped to the US will be treated as UK-origin steel, a company spokesperson said, despite Tata no longer producing primary steel in Britain.Tata shut the blast furnaces at the facility in 2024 as part of its transition to electric-arc furnace production, leaving the plant temporarily reliant on imported substrate, including material from the company's Dutch operations.The company said the arrangement re...
Post a Comment
Read more

Ebola-related deaths touch 131

from Economic Times https://ift.tt/uvyJZK9
Post a Comment
Read more

US clears $428m defence packages for India

New Delhi: The US has cleared two military support packages worth $428 million for India that will cover sustainment support for frontline M777 ultra-light howitzers and AH-64E Apache attack helicopters.The Foreign Military Sale - a government-to-government procurement mechanism - will result in sustainment support services for Apache helicopters for an estimated $198 million. The package covers contractor engineering, technical support, personnel training and logistics support services.Also read: DRDO successfully tests UAV-launched missile in air and ground combat modesBoth the Indian Air Force and Army operate Apache helicopters, which are tasked with heavy fire-support missions. The helicopters have also been deployed in high-altitude areas and are known to have conducted training missions in Ladakh as well. IAF currently operates 22 Apache helicopters while Army has six in service."This proposed sale will support the foreign policy and national security objectives of the Unit...
Post a Comment
Read more

IOC Q4 results: Cons PAT surges 78% YoY to Rs 14,458 crore, revenue rises 7%

Indian Oil Corporation (IOC) reported a consolidated net profit at Rs 14,458 crore in the March-ended quarter versus Rs 8,124 crore in the year ago period, implying a 78% surge. The profits are attributable to the equity holders of the parent.The revenue from operations posted a revenue growth of 7% to Rs 2,36,899 crore in Q4FY26 was versus Rs 2,21,360 crore posted by the company in the corresponding quarter of the previous financial year.The company's board also recommended a final dividend of Rs 1.25 per equity share subject to the approval of the shareholders at the upcoming Annual General Meeting (AGM). The final dividend will be paid within 30 days from the date of declaration at the AGM. The record date for payment of final dividend would be fixed and intimated in due course.The company's profit after tax (PAT) grew 11% on a sequential basis versus Rs 13,007 crore in Q3FY26 while the topline saw a marginal uptick of 0.27% quarter-on-quart versus Rs 2,36,257 crore in the O...
Post a Comment
Read more