NTPC starts getting gas from KG D-6 fields

New Delhi: State-run power utility NTPC on Sunday started receiving natural gas from Reliance Industries’ eastern offshore KG D-6 fields at the government-approved price of $4.2 per mmBtu price. NTPC’s Anta plant in the NCR region on Sunday morning started receiving 0.6 million standards cubic meters per day of KG D-6 gas, industry sources said. KG D-6 gas will replace the costly LNG that the plant currently uses and will save Rs 150 crore in generation cost annually.

Hindalco to raise Rs 3K cr via equity sale

Mumbai: Aditya Birla group flagship company, Hindalco is planning to raise around Rs 3,000 crore through an equity sale to part fund its ongoing projects. Hindalco Chief Financial Officer S Talukdar said the company plans to raise the fund either through qualified institutional placement (QIP) or through sale of shares in overseas markets through the global depository receipts (GDR) route.

JSPL Q2 profit up 6 pc at Rs 808 crore

New Delhi: Naveen Jindal-promoted Jindal Steel and Power has reported a 6.04 per cent rise in net profit for the second quarter at Rs 808.36 crore over the same period a year ago. “As much as 70 per cent of the profit came from our power business under Jindal Power Ltd,” JSPL deputy managing director Sushil Maru said. The company had a net profit of about Rs 762 crore in the quarter-ended September 30, 2008. Total income declined to Rs 2,445.28 crore in the quarter under review as against Rs 2,859.15 crore in the same period previous fiscal.

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