Result Reaction :: ONGC falls 1% on 10% YoY drop in net profit
>> Oil and Natural Gas Corporation (ONGC) reported a decline of around 10 per cent to Rs 10,356 crore in Q3FY24, compared to Rs 11,489 crore in the year-ago period.
>> ONGC’s board has approved a second interim dividend of 80 per cent, i.e. Rs 4 per equity share of face value of Rs 5 each for the fiscal 2023-24.
Navin Fluorine gains 2% as LIC ups stake
>> Life Insurance of India (LIC) has increased its stake in the company to 7.07 per cent from 5.03 per cent earlier.
Railtel Corporation slips 2% on profit booking post order win
>> Company has received order worth Rs 18.21 crore from the Minsitry of Defence.
Orient Press zooms 14% as it forays into candle biz
>> The Board has approved for setting up of new manufacturing facility/plant for new line of business of production of candles.
IRCTC in red as it incorporates payment aggregator arm
>> IRCTC has incorporated a wholly-owned subsidiary company in the name of ‘IRCTC Payments Ltd’ for the purpose of payment aggregator business.
Easy Trip Planners surges 3% on plan to open 5-star hotel in Ayodhya
>> The Board has considered and in-principally approved the proposal to open a 5-star hotel in Ayodhya, which is less then one kilometer from Shree Ram Mandir, through investment of an amount of up to Rs 100 crore in Jeewani Hospitality Private Limited.
Gensol Engineering rallies 5% as consortium wins project under PLI
>> Gensol Engineering & Matrix Gas consortium has won a bid of manufacturing capacity for an advanced Electrolyser Plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program.
ALERT :: Gensol Engineering & Matrix Gas consortium win PLI bid for Hydrogen Electrolyser Manufacturing
>> The company has won a bid of manufacturing capacity for an advanced Electrolyser Plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program.
>> The awarded project, with a manufacturing capacity of 63 MW per annum, is strategically positioned to contribute significantly to India’s ambitious goal of producing 5 million metric tons of green hydrogen annually by 2030.
FinMin rejects proposal to double minimum pension amount under EPS
Data sourced from the social security organisation’s annual report for FY23 shows that of the total 7.55 million pensioners under the scheme, 3.64 million received a monthly pension of up to Rs 1,000, followed by 1.17 million pensioners, who received between Rs 1,001 and Rs 1,500. Around 868,000 pensioners received between Rs 1,501 and Rs 2,000 a month. Only 26,769 pensioners got above Rs 5,000 per month. READ MORE
Domestic, rural consumers also driving power demand: Tata Power CEO
Not too many hydro projects are coming up because of the challenges in the setting up of these plants. To meet the surging demand, the existing coal gas hydro and the several new renewable projects that are coming up will be required to generate at full capacity. READ MORE