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Constant ramp up and ramp down creates wear and tear in plant equipment like boilers and turbines View More
Ceigall India has received a letter of intent for a major transmission system project. This project, valued at Rs 5,300 crore, will be developed in Gujarat. It involves building a substation and transmission lines to evacuate renewable energy. The company will receive annual charges for thirty-five years after execution. This development supports Gujarat's critical power transmission infrastructure needs. View More
New Delhi: Ceigall India on Thursday said it has received a letter of intent from REC Power Development and Consultancy to develop a major common transmission system worth Rs 5,300 crore in Gujarat . The LoI has been awarded for the 'Common Transmission System for evacuation of power from Lakadia (Phase-II: 7.5 GW), Jam Khambhaliya (Phase-II: 5.5 GW) and Jamnagar (Phase-I: 1 GW) - Part-B' project, a company statement said. The project entails the development of a 765/400 kV Air Insulated Substation (AIS) along with approximately 300 km of transmission lines. The project is valued at approximately Rs 5,300 crore (inclusive of GST). The company will receive annual transmission charges of Rs 608.67 crore each year over the 35-year operational period. Live Events Execution is expected to take 36 months, followed by this 35-year operational period. The project forms part of the transmission infrastructure being developed to facilitate the evacuation of power from key renewable energy zones in Gujarat, including Lakadia, Jam Khambhaliya and Jamnagar. "The project will contribute to the development of critical power transmission infrastructure in Gujarat and support the efficient evacuation of power from key generation regions," said Ramneek Sehgal, Managing Director, Ceigall India Ltd. The project will contribute towards strengthening transmission infrastructure and supporting the efficient evacuation of power from major generation hubs. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Kanohar Electricals will launch its IPO on September 8 with a Rs 601–632 price band, targeting up to Rs 1,055.74 crore. The transformer maker plans to use proceeds for working capital, expansion and sustainability initiatives. View More
Transformer manufacturer Kanohar Electricals Limited will open its initial public offering (IPO) on September 8 at a price band of Rs 601–632 per share. The IPO comprises a fresh issue of up to Rs 300 crore and an offer for sale of nearly 1.20 crore shares. At the upper end of the price band, the IPO could raise approximately Rs 1,055.74 crore. The issue will close on September 10. Investors can bid for a minimum of 23 shares and in multiples of 23 thereafter, requiring a minimum investment of Rs 13,823 at the lower end of the price band and Rs 14,536 at the upper end. The shares are proposed to be listed on the BSE and NSE. The grey market premium (GMP) for Kanohar Electricals is trading 24% higher than the issue price, indicating potentially decent gains for investors on listing day. According to the company filing, it plans to use Rs 155 crore from the fresh issue to meet incremental working-capital requirements. Another Rs 64.1 crore will fund capital expenditure at its Gangol manufacturing facility. Live Events Part of the proceeds will also support the company’s sustainability initiatives, including solar power plants at its manufacturing facilities and electric vehicles for material handling. The remaining funds will be used for general corporate purposes, it further added. Up to 50% of the net offer will be allocated to qualified institutional buyers, while at least 15% will be available to non-institutional investors and at least 35% to retail investors. The company’s revenue from operations increased to Rs 653.83 crore in FY26 from Rs 276.6 crore in FY24. Net profit rose to Rs 129.7 crore from Rs 17.7 crore during the same period. About the company Kanohar Electricals manufactures transformers for power transmission, railways, renewable energy and power distribution. It also executes engineering, procurement and construction projects involving substations and transmission lines of up to 400 kV. The company said that it is among five Indian manufacturers with short-circuit test certification for 500 MVA, 400 kV transformers. It is also certified by the Research Designs and Standards Organisation to manufacture specialised Scott transformers used in railway electrification. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
The economy doesn't need "heroic assumptions" to meet that target, Chief Economic Adviser V Anantha Nageswaran said View More
Coal India is investing nearly fifty thousand crore rupees in coal gasification projects. The company is also actively seeking overseas critical mineral assets, particularly lithium. Coal India targets nine point five gigawatts of renewable capacity by the year twenty thirty. These initiatives aim to reduce import dependence and capture new growth engines. The state-run miner is establishing a robust coal gasification ecosystem in India. View More
New Delhi: Coal India (CIL) is pursuing an aggressive diversification strategy beyond its mainstay of coal mining. The world's biggest producer of the fossil fuel is lining up nearly ₹50,000 crore in coal-gasification projects while scouting for overseas critical-mineral assets, particularly lithium, said B Sairam, chairman and managing director. It is also targeting 9.5 gigawatts (GW) of renewable capacity by FY30, aligning with its plan to capture new growth engines. "CIL remains strongly committed to the government's coal gasification push," Sairam told ET. "The ₹37,500-crore scheme will accelerate projects and support import substitution, energy security and value addition to domestic coal." Also Read: Coal India output dips 5.7% in August, offtake rises 5.5% He added that the company is exploring partnerships with technology providers, project developers and potential syngas consumers to establish a robust coal gasification ecosystem in India. CIL's first commercial coal gasification project has moved into the execution phase, with the start of mechanical erection at Bharat Coal Gasification and Chemicals (BCGCL) at Odisha's Lakhanpur. Foundation bolts for the electrostatic precipitator have reached the site, while boiler and chimney materials have been dispatched by Bharat Heavy Electricals ' (BHEL) manufacturing units. Engineering drawings are being progressively approved too. Live Events BCGCL, a 51:49 joint venture between CIL and BHEL, is investing over ₹25,000 crore in the project with an annual capacity of 660,000 tonnes of ammonium nitrate. The project has received ₹1,350 crore under the Centre's ₹8,500-crore financial incentive scheme for coal and lignite gasification projects. Two more gasification projects-in West Bengal with GAIL and Maharashtra with BPCL-are at the detailed project report and tendering stages. "Together, these three projects, involving a cumulative investment of about ₹50,000 crore, are expected to reduce the country's dependence on imported chemicals and natural gas," noted the CMD of the state-run miner. CIL is also positioning itself in critical minerals . It has secured five assets, spanning graphite, rare earth elements and rare metals, and is evaluating opportunities in Chile, Argentina and Australia. Also Read: Coal India’s supplies rise 5.5% in August despite output dip "Chile is one of the key markets we are exploring for lithium assets," said Sairam. CIL is discussing a possible stake in a Chilean asset and has signed non-disclosure pacts with potential overseas partners. "We are hopeful that these discussions will progress favourably and that we will be able to conclude the deal," he added. To facilitate overseas critical-mineral acquisitions and strengthen its international footprint, the company has incorporated CIL Global in Singapore. Renewables are another major growth pillar. CIL is targeting 9.5 GW of renewable capacity by FY30, with plans to integrate battery storage with new solar projects. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Petrol and diesel sales saw significant year-on-year increases in August. This growth was fueled by greater mobility and a strengthening economy. Aviation turbine fuel sales also returned to growth, indicating air traffic recovery. However, cooking gas consumption continued its decline despite increased imports. Industry experts attribute this drop to a shift towards piped natural gas. View More
New Delhi: Petrol sales rose 7.9% and diesel sales 6.5% year-on-year in August, aided by increased mobility, stronger vehicle sales and an expanding economy, according to preliminary data from the oil ministry released on Tuesday. Strong vehicle sales this fiscal have contributed to strong petrol demand. Cumulative sales growth during April-August was 6.5% for petrol and 4.3% for diesel. A rapidly expanding economy and uneven monsoon have driven diesel sales to an unusually high growth rate of 6.5% in August. An industry executive said farmers in many regions have been increasingly using diesel for irrigation. Also Read: Windfall tax slashed on fuel exports Meanwhile, aviation turbine fuel (ATF) sales rose 1.4%, while cooking gas, or LPG, sales fell 16.1%. The return to growth for ATF in August points to a recovery in air traffic, which had been hit by the West Asia war and soaring fuel prices. For the April-August period, ATF sales declined 0.6%. Cooking gas consumption, surprisingly, continued to fall in August despite rising imports. The fall during April-August stood at 15.9%. Industry executives attributed the August decline partly to a shift to piped natural gas among households, eateries and factories. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
New Delhi has reduced export duties on petrol, diesel, and aviation fuel. The levy on petrol exports is now ?1.15 per litre, a significant decrease. Diesel export duty sees a marginal reduction to ?25 per litre. Aviation turbine fuel exports will now face a ?19 per litre windfall tax. These revised rates will take effect from September 3, 2026. View More
New Delhi: The government on Tuesday reduced the windfall tax on petroleum product exports, slashing levies on petrol, diesel and aviation turbine fuel (ATF) as part of its fortnightly review of export duties. As per the finance ministry notifications, the export duty on petrol has been reduced to ₹1.15 per litre from ₹3.5 per litre earlier. The levy on diesel exports has been reduced marginally to ₹25 per litre from ₹25.5 per litre, including the Road and Infrastructure Cess (RIC) component. For ATF exports, the windfall tax has been reduced to ₹19 per litre from ₹22 per litre. The revised rates come into effect from September 3, 2026. The government reviews the windfall tax on domestically produced crude oil and export of petroleum products every fortnight, depending on global oil prices and refinery margins. There is no change in the existing duty on these products for domestic consumption. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Commercial space firm SpaceX is constructing a specialised in-house foundry to manufacture high-spec gas turbine blades and vanes, CEO Elon Musk confirmed.
Confirming the plans on social media platform X, Musk on Saturday noted that while SpaceX and Tesla are racing to scale solar panel production, natural gas remains necessary to bridge power demands for several years.
The strategic expansion targets a severe supply chain bottleneck that has stalled power generation required for artificial intelligence (AI) data centres across the United States.
A turbine blade foundry is a specialised manufacturing facility that uses advanced casting techniques to produce high-precision turbine blades and vanes for jet engines, aerospace systems and power-generation gas turbines.
"The limiting factor for nat gas turbine production is casting the blades & vanes," Musk stated. "By doing in-house casting at SpaceX, we can accelerate nat gas turbines coming online by up to 18 months, which is a ... View More
The new plant is scheduled to become operational by April 2027; will allow Waaree Transpower to serve customers across 132 kV, 220 kV, and 400 kV voltage classes View More