SAIL BSP Bags National Energy Conservation Award 2013
A unit of Steel Authority of India Limited (SAIL), Bhilai Steel Plant (BSP) was awarded the top prize in the National Energy Conservation Awards 2013, in recognition of ‘systematic and serious efforts made by BSP for efficient utilisation and conservation of energy during the last two years. Chairman SAIL CS Verma received the award from President of India Pranab Mukherjee, in the presence of Union Minister of State for Power Jyotiraditya Scindia at Vigyan Bhavan in New Delhi. From a pool of nine other participants, SAIL BSP was chosen for the award for achieving a savings of 2.92 per cent in electrical energy consumption, 1.74 per cent in thermal energy consumption, and an overall reduction of 3.1 per cent in specific energy consumption in 2012-13 over the previous year.
Narendra Kothari To Be NMDC’s new CMD
Narendra Kothari, currently CEO of SAIL’s Burnpur plant, will take over as the new Chairman and Managing Director of state-run iron ore producer Natinal Mineral Development Corporation (NMDC). “We have chosen Kothari as the next regular CMD of NMDC,” Steel Minister Beni Prasad Verma said in a statement. NMDC, country’s largest iron ore miner, is without a full-time chairman after the retirement of its earlier regular head Rana Som on December 31, 2011.
Hewlett-Packard-owned software firm Mphasis sales up 3.5 per cent
Hewlett-Packard-owned software services firm Mphasis has reported a raise of 3.5 per cent in sales in the August-October quarter to touch Rs 1,594 crore. For the financial year that ended October 31, Mphasis reported revenues of Rs 5,793 crore, up from Rs 5,357 crore last year. “Our direct business in matured markets has seen a growth of 63 per cent in last one year,” said Ganesh Ayyar, CEO, Mphasis. Mphasis has been trying to increase its direct business to compensate for falling business from HP, which now makes up 40 per cent of Mphasis sales.
Rebuilt Coke Ovens Battery No. 2 of DSP commences production
CS Verma, Chairman, SAIL, witnessed the commencement of the newly rebuilt Coke Ovens Battery No. 2 at Durgapur Steel Plant – a unit of Steel Authority of India Limited (SAIL), a Maharatna PSU, on 02.12.2013. The rebuilding of the battery is a part of modernisation and expansion of SAIL DSP under its ongoing capacity enhancement from the present level of 1.60 million tonnes of saleable steel to 2.12 million tonnes at a total cost of Rs 2875 crore. Post-expansion, DSP is expected to improve the finished component in its products basket from the present level of 36 per cent to 64 per cent. Rebuilt at a total cost of Rs. 213 crore, the battery no. 2 has several advanced technological features leading to both qualitative and quantitative improvements in coke making from this battery.
Bharti Airtel to invest Rs 4,000 crore in Punjab
Bharti Airtel plans to expand and contribute towards the digital inclusion drive in Punjab. Airtel will invest over 4,000 crore in the next five years. Airtel and the Punjab government have signed an agreement on the sidelines of the Progressive Punjab Investors Summit, under which Airtel will take its high speed 4G LTE services to all towns and villages across the state. “Just like the mobile phone connected millions across Punjab, this high speed data connectivity initiative will further empower people with information and services available at the touch of a screen. I am confident that this initiative will make Punjab a model state for rest of the country,” Sunil Bharti Mittal, Chairman and Group Chief Executive Officer, Bharti Enterprises, said. The company is also planning to invest in its existing 2G mobile operations, Wire-line & DSL Broadband, DTH services, M-Commerce Services offering in the state.
New Integrated Terminal Building at Goa
A new Integrated Terminal building, built by Airports Authority of India has been dedicated to the Nation by Shri Ajit Singh, Union Minister for Civil Aviation in the august presence of Shri Bharat Vir Wanchoo, Governor of Goa, Shri Manohar Parrikar, Chief Minister of Goa and other dignitaries. The New Terminal Building at Goa is an integrated terminal building capable of handling both domestic and international operations. The terminal building is equipped with modern state of the art facilities such as five passenger boarding bridges, CUTE enabled Check in counters.
Dena Bank to open first overseas office in London
State-owned Dena Bank plans to open its first overseas office in London by the end of this month. “We have got approval from RBI and government for opening a representative office in London. The UK regulatory authority has also given informal permission,” said, Dena Bank Executive Director Ashok Dutt in a statement.
NTPC ranked No.1
NTPC has been ranked No. 1 Independent Power Producer and energy trader in the world by Platts 250 for the year 2013. It has also been ranked 384th overall on the Forbes Global 2000 list. NTPC is a leader in Power Sector with 42.4 GW installed capacity. It has a strong financial position. As on March 31, 2013, it’s debt to equity ratio was 0.87 on a consolidated basis and 0.72 on a standalone basis, also debt service coverage ratio (DSCR) was 3.01 on a consolidated basis and 3.17 on a standalone basis, and its interest coverage ratio (ISCR) was 8.53 on a consolidated basis and 10.39 on a standalone basis. Its strong financial position allows it considerable flexibility as to their plans for future growth. NTPC’s 75% equity is owned by Government of India. It has bestowed Maharatna status to the company giving appreciable degree of financial and operational flexibility.