KNTPC gains on Rs60,000 crore investment plans
Shares of country's largest power producer NTPC gained 2% to Rs146.65 on the NSE after the company decided to invest approximately Rs60,000 crore for executing green energy projects in the next five years as part of government's plans to provide thrust to clean electricity generation. NTPC has committed to set up renewable power projects worth 10,000 MW capacity in the country in the period of five years.
The company added that it will add 10,000 MW to its existing capacity of 43,143 MW through solar projects in the next five years.
Oil Ministry clears discoveries worth Rs150,000 crore
Oil Ministry has cleared development of oil and gas discoveries worth about Rs150,000 crore by clearing 30 pending cases. This would enable early monetisation of oil and gas discoveries of Gujarat State Petroleum Corp, Oil and Natural Gas Corp and Focus Energy. Positive for ONGC.
Axis Bank raises Senior Notes in International Market
Axis Bank announced that the Bank has on February 17, 2015, allotted Senior Notes aggregating to USD 55,000,000 (USD Fifty Five Million only) under the MTN Programme through its Hong Kong branch.
Reliance Jio submits Rs4500 crore for spectrum auction
Reliance Jio submits earnst money of Rs4500 crore for upcoming spectrum auction – Negative for telecom operators like Airtel, Idea (highest amount of earnst money deposit for REl Jio raises risk of aggressive bidding for spectrum)
Coal Block auction gets aggressive for production mines
Coal Block auction getting aggressive especially for production mines; CESC bid aggressively to retain its old mine – may see negative pressure if regulator doesn’t allow to pass on higher fuel cost. The coal block auction process started with a bang; aggressive biddings were seen as expected as the current blocks which are in offer are producing and existing producers and developers are trying to get at any cost.
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