Business Corner

Kotak Mahindra Bank Q4 profit up 27% at Rs 1,789 cr

Private sector lender Kotak Mahindra Bank today posted a rise of 27 per cent in consolidated net profit at Rs 1,789.24 crore for the quarter ended March 31. The bank had registered a net profit of Rs 1,404.34 crore in the January-March quarter of the previous financial year (2016-17). Total income (consolidated) grew to Rs 10,874.12 crore as against Rs 9,953.57 crore in the year-ago period, the bank said in a regulatory filing. In entire 2017-18, the net profit was up 26 per cent to Rs 6,201 crore from Rs 4,940 crore in 2016-17.

SAIL joins hand with Airport Authority under for air connectivity

New Delhi: Three steel cities of Steel Authority of India Ltd. (SAIL) Rourkela,Bokaro and Burnpur belonging to states of Odisha, Jharkhand and West Bengal, respectively,will soon prominently feature on the aviation map of India. Steel Authority of India Ltd.(SAIL) and Airports Authority of India (AAI) have signed a MoU today on utilization of SAIL’sRourkela, Bokaro and Burnpur airstrips under the Regional Connectivity Scheme (RCS) –UDAN, a flagship project of Government of India. The RCS-UDAN scheme, launched byMinistry of Civil Aviation (MoCA), envisages enhancing the regional air connectivity byproviding support in terms of infrastructure and other facilities. SAIL which has activelyengaged in many national development schemes and projects like Make in India, SwachhBharat, etc. has once again taken lead and partnered in the UDAN scheme.

Govt launches Pilot scheme Procurement of Aggregate Power

The Government kicks off a Pilot Scheme for Procurement of Aggregate Power of 2500 MW on competitive basis for 3 (three) years under medium term i.e. from generators with commissioned projects but without Power Purchase Agreement. Power Ministry had recently issued the model bid documents, model PAPP and PPSA on April 6, 2018. The Guidelines for the said scheme was issued on April 10, 2018.

PFC Consulting Limited (A wholly owned subsidiary of PFC Ltd) has been appointed as Nodal Agency and PTC India Limited as the Aggregator.PTC India would sign three-year (mid-term) Agreement for Procurement of Power with successful bidders and Power Supply Agreement with the Discoms

Dr SK Acharya CMD, NLCIL inaugurates various supporting services

Dr. Sarat Kumar Acharya, CMD/NLCIL inaugurated NLCIL 400 KV Gas Insulated Switch yard (GIS) and other supporting services of Neyveli New Thermal Power Projectsite, Neyveli, on 30.04.2018The 2x 500 MW Generating Units are connected to 400 KV Switch yard through 2x 600 MVA Generator Transformers (21 KV/400 KV) and controlled by the state-of- the arttechnology SCADA (Supervisory Control And Data Acquisition) System .The 400 KVSwitch yard and 220 KV Switch yard of NNTPP are interconnected by 2 x 500 MVA Inter-connecting Transformers (ICT).This package is part of the NTA-3 (Balance of Plant)Package, awarded to M/s EPCCIL and the Switch yard equipments are supplied,erected, tested and commissioned by M/s GE T&D India Limited The total CapitalExpenditure for 400 KV Switch yard Package works is Rs 59.22 Crore.