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Vikas Srivastava

Articles By Vikas Srivastava

211 Articles

JSW Energy has put on hold all discretionary capex: Prashant Jain, joint MD & CEO

Privatisation of discoms and opening up of commercial coal mining are welcome steps. We will evaluate these opportunities to decide if it fits in our overall risk-return framework.

GAIL in talks with US, Russian LNG suppliers to sweeten long-term contracts

The company is also taking up the matter with suppliers to reschedule, as well as postpone some of the cargoes to reduce their losses.

India has long-term LNG supply contracts with countries like Qatar, Australia, and Russia.

Solar industry awaits finance ministry decision on safeguard duty or Basic Customs Duty

Solar manufacturers, however, believe that the two together —safeguard duty and BCD — may get introduced from August 1, though the rate of BCD could be much lower than the 20% proposed initially.

NIIF, I Squared Capital, Edelweiss keen to take part in railway privatisation process

“These players were present during the stakeholders meet while the model concession agreement was drafted and have shown their willingness to participate in the privatisation process,” sources said.

On July 2, the ministry of railways invited a RFQ for private participation in operation of passenger train services over 109 pair of routes through introduction of 151 modern trains or rakes

Atmanirbhar Bharat: Govt focuses on local manufacturing of solar equipments; firms plan to scale up capacities

Indian manufacturers Vikram Solar and Waaree Energies, which have 2GW solar manufacturing capacities each, told FE that they could easily ramp up their individual capacities to 5-6 GW

The government is planning to introduce a basic customs duty — starting 20% or thereabouts and designed to increase further to 30-35% — from August this year to safeguard the domestic manufacturers’ interests.

INTERVIEW| Cement demand still tepid, rural housing offers hope: Ujjwal Batria, COO at Dalmia Cement Bharat

The cement demand in May was lower by 30% in south India and 10% in east and northeast, on a y-o-y basis, Ujjwal Batria, chief operating officer at Dalmia Cement Bharat told Vikas Srivastava.

Ujjwal Batria, Dalmia Cement Bharat, CEO of Dalmia Cement Bharat, Cement prices, Dalmia Cement, latest news on cement prices

Gas-based power plants seek to bid under renewable bundling scheme

According to industry sources, about Rs 50,000 crore of investments in gas-based power projects are in the doldrums due to the policy lacuna.

Awareness of protection products is getting tailwind: Prashant Tripathy, MD & CEO, Max Life Insurance

Consumers are banking on life insurers for assurance in times of uncertainty, and we will, therefore, be rolling out solutions and specific product offerings around protection to cater to changing needs during such tough time

InvITs can be platform to channelise foreign capital: Harsh Shah, CEO, IndiGrid

Infrastructure investment trusts (InvITs) preside over Rs 70,000-crore of assets under management (AUM) across sectors such as real estate, gas transmission, telecom and power.

IndiGrid, Infrastructure investment trusts, Harsh Shah,CEO of KKR, transmission sector, AUM, domestic capital , power sector

Gas exchange to help price discovery, domestic consumption to rise fast: Rajiv Srivastava, CEO, Indian Energy Exchange

But, it can be booked on behalf of buyers and sellers without really the need to own them at present since we have an excess capacity.

Rajiv Srivastava, MD and CEO, Indian Energy Exchange

Proposed 20% basic customs duty on solar cells to hit units in SEZs

The government is planning to replace safeguard duty introduced in July 2018 to protect domestic manufacturers with a basic customs duty which will rise to 20% in a phased manner over the next 2-3 years.

Unlike BCD, under safeguard duty, the SEZ manufacturers were treated on par with DTA manufacturers.

Fuel sales may reach normal level by July: N Vijayagopal, director-finance, BPCL

N Vijayagopal, director-finance at BPCL, said that the company expects sales to reach normal levels by July, with the progressive easing of the lockdown.

BPCL, lockdown, N Vijayagopal, global market, Q4FY20, fulel sales, crude prices, auto fuels 

Labour shortage hits JNPT throughput

Most of labourers including truck drivers contracted with JNPT and other labours with export houses have left for their hometowns impacting the operations both at the factories and at the port.

Privatisation of discoms an opportunity, says JSW Energy CEO

The scenario for FY21 will depend on economic recovery defined by three factors: how the MSMEs are going to perform, the issue of migrant labour, and the rate of spread of Covid-19, said Prashant Jain.

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Why India’s largest renewable energy producer wants to sell its assets in Karnataka

The company is likely to raise Rs 1,500 crore through the sale at a valuation of Rs 5 crore per megawatt, the people said.

ReNew has a total of 4.9-GW operational wind and solar assets across eight states.

Falling crude: State-run OMCs may report Q4 inventory loss of Rs 33,000 crore

As retail prices of petroleum products are mapped with international rates, the steep fall of global crude prices in Q4FY20 meant that by the time refiners sold their products after processing crude, retail rates had fallen.

Interview | Project executions to see major productivity shift with automation, says Vimal Kejriwal, MD, KEC International

With government mandating only 25% to 50% employee attendance due to social distancing, companies will have to find alternative ways of increasing productivity.

COVID-19 lockdown: Govt gives blanket extension of timeline for renewable projects

The move comes after renewable companies made representations to the government to allow a blanket extension for six months to overcome supply-side disruptions in completing the projects.

solar project, wind project, green energy, renewable energy, crude oil prices

Basic customs duty on solar modules being planned: MNRE secy

India currently has solar modules manufacturing capacity of 7-8 gigawatts (GW). This includes the units of players like Adani Solar, Tata Solar, Waaree Energies and Vikram Solar.

Current transportation fuel demand at 30%-40% of normal: R Ramachandran, director, refineries at BPCL

The current transportation fuel demand is around 30%-40% of the normal demand, with ATF demand almost near zero.

Indian refineries have term contracts with all the major national oil suppliers in the Middle East for this year.

Maharashtra electricity company clears dues of Rs 4000 crore to IPPs

MSEDCL owes state run power producer Mahagenco around Rs 7,000 crore, which it plans to pay in due course along with Rs 200 crore of wind power producers' outstanding loans, which is held up for some outstanding issues.

Power demand in India has fallen over 26% since March 24, the day the lockdown was announced.

PFC-REC may lend afresh to stressed discoms

Amid the ongoing lockdown across the country, the Centre has provided a breather to state discoms to tide over the current liquidity situation.

Liquidity is the biggest challenge in the present scenario: Raghupati Singhania, MD, JK Tyre & Industries

The domestic automotive industry, which was already passing through challenging times due to unprecedented demand woes, is expected to be further impacted, thereby pushing recovery timelines.

Under the right guidance of the government bodies, we have halted production at all our manufacturing facilities in India, and we will soon be taking necessary actions across our Mexico plants as well.

Gas sales by Petronet LNG, GAIL dip by a quarter, firms to invoke force majeure with foreign companies

Given the 21-day lockdown, the two firms may also face issues in lifting the contracted cargoes arriving at ports in the near future and ask foreign suppliers for rescheduling of the shipments.

Gas sales, Petronet LNG, GAIL, foreign companies, CGD sectors, GAIL India, petrochemicals, natural gas

IOC, HPCL reduce refinery throughput by up to 30%, BPCL to follow

Indian Oil Corporation (IOC) has cut its refined throughput by 25-30% as the demand for petroleum products like petrol, diesel, fuel oil, bitumen, etc fell substantially.

IOC, HPCL, BPCL, coronavirus outbreak, avaition turbine fuel, crude oil, country wide lockdown, oil marketring companies

After Q3 gains, oil marketing companies to report big inventory losses in Q4

The OMCs are likely to see inventory loss of $5.6-8/barrel in Q4FY20 given that they bought crude at an average price of $65-$67 in the December quarter, according to analysts.

biggest fall in crude prices after gulf war, OPEC, Non OPEC, price war on crude oil, petrol and diesel, crude production cut, crude production up, crude prices

Global scenario in steel sector indicates slump has bottomed out: JSW Steel Joint MD & Group CFO Seshagiri Rao

For contractors who were awarded contracts in September 2019, disbursement was very inadequate initially, says Seshagiri Rao.

steel sector, steel industry
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