Connect with us
Thursday,30-January-2025
Breaking News

Business

Adani Total Gas’ operational revenue up 12 pc in Q3, connects over 9 lakh homes with PNG

Published

on

Ahmedabad, Jan 27: Adani Total Gas Ltd (ATGL) on Monday reported a 12 per cent increase in revenue from operations in the third quarter of FY25 at Rs 1,397 crore.

EBITDA for the nine months of the current fiscal stood at Rs 893 crore, up by 6 per cent (year-on-year), India’s leading energy transition company said in a statement.

“ATGL maintained its growth trajectory, focusing on customer centric approach and delivering a robust operational performance with a notable 15 per cent year-on-year increase in volume,” said Suresh P Manglani, ED and CEO, ATGL.

Despite the reduced APM gas allocation, “Team ATGL ensured an uninterrupted supply of CNG to our large masses of consumers by sourcing additional supplies of gas through alternative options,” he mentioned.

For ATGL, the allocation of APM gas for the CNG (T) segment was reduced from 63 per cent to 51 per cent from October 16, 2024, and then further from 51 per cent to 37 per cent, effective November 16 onwards.

Manglani stated the company is striving to further accelerate the development of PNG and CNG infrastructure across its 34 geographic areas (GAs), including the recently added Jalandhar GA in Punjab.

In Q3, the company increased CNG stations to 605 by adding 28 new stations and expanded PNG home connections to 9.22 lakh, by adding 28,677 new households.

It increased industrial and commercial connections to 8,913 adding 167 new consumers.

Along with the IndianOil-Adani Gas Pvt Ltd (IOAGPL), the company now has a combined network of 999 CNG stations, with 41 new stations added in the quarter. PNG home connections crossed the 1-million mark to 1.09 million across the country, touching over 4 million lives on a daily basis.

IOAGPL is a joint venture company of Indian Oil Corporation (IOC) and Adani Total Gas Limited.

Further, ATGL has also formed two wholly-owned subsidiaries — Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL) for its E-Mobility and biomass business, respectively.

About 1,914 EV charging points have already been commissioned across 226 cities and charge points have now increased to 20 airports in India, informed the company.

Business

Air India to resume Delhi-Tel Aviv direct flights from March 2

Published

on

New Delhi, Jan 29: Air India on Wednesday announced that it will restart its non-stop flights between Delhi and Tel Aviv, with the first flight scheduled to take off on March 2.

Resuming flights is part of the airline’s efforts to expand its international routes and improve travel options between India and Israel, it said in a statement.

The airline will operate five flights a week on this route, using its Boeing 787-8 Dreamliner aircraft.

These planes offer 18 flat-bed seats in Business Class and 238 spacious seats in Economy Class. The direct service is expected to make travel between Delhi and Tel Aviv more convenient.

According to Air India, flight AI139 will depart from Delhi on Monday, Tuesday, Wednesday, Thursday, and Sunday at 3.55 p.m. (IST) and arrive in Tel Aviv at 7.25 p.m. (local time).

The return flight, AI140, will leave Tel Aviv at 9.10 p.m. and land in Delhi at 6:10 a.m. the following morning.

“Bookings for the Delhi-Tel Aviv flights are now open. Passengers can reserve their seats through Air India’s website, mobile app, or travel agents,” said the national carrier.

Air India’s decision to resume this route came after receiving the necessary approvals. The airline aims to strengthen its global network, particularly in the Middle East and Europe.

The national carrier had halted flight operations to and from Tel Aviv last year amid growing tensions in parts of the Middle East, saying they were continuously monitoring the situation.

The revival of this service is expected to boost travel between India and Israel, further enhancing diplomatic and business ties between the two nations.

Meanwhile, the Tata group-owned airline announced earlier this month that the company will offer inflight Wi-Fi Internet connectivity services on domestic flights.

Continue Reading

Business

Cabinet gives approval for launch of Rs 34,300 crore National Critical Mineral Mission

Published

on

New Delhi, Jan 29: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the launch of the National Critical Mineral Mission with an outlay of Rs 16,300 crore and expected investment of Rs 18,000 crore by public sector undertakings (PSUs).

Briefing the media after the Cabinet meeting, Union Minister for Information and Broadcasting Ashwini Vaishnaw said that the mission aims to reduce the dependence on the import of critical minerals and ensure self-reliance.

The National Critical Mineral Mission, approved by the Union Cabinet, will encompass all stages of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products.

The mission will intensify the exploration of critical minerals within the country and in its offshore areas. It aims to create a fast-track regulatory approval process for critical mineral mining projects, according to an official statement.

Additionally, the mission will offer financial incentives for critical mineral exploration and promote the recovery of these minerals from overburden and tailings.

As part of the Atmanirbhar Bharat initiative, and recognising the indispensable role of critical minerals in high-tech industries, clean energy, and defence, the Indian government has undertaken several initiatives over the past two years to address challenges in the critical minerals sector.

Finance Minister Nirmala Sitharaman announced the setting up of the Critical Mineral Mission in the Union Budget for 2024-25 on July 23, 2024, to establish an effective framework for India’s self-reliance in the critical mineral sector.

The mission aims to encourage Indian PSUs and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich countries. It also proposes the development of a stockpile of critical minerals within the country.

The mission includes provisions for setting up mineral processing parks and supporting the recycling of critical minerals.

It will also promote research in critical mineral technologies and proposes setting up a Centre of Excellence on critical minerals.

Adopting a whole-of-government approach, the Mission will work closely with relevant Ministries, PSUs, private companies, and research institutions to achieve its objectives.

Mines and Minerals (Development and Regulation) Act, 1957, has been amended in 2023 to increase the exploration and mining of critical minerals.

Consequently, the Ministry of Mines has auctioned 24 blocks of strategic minerals.

The Geological Survey of India (GSI) has undertaken 368 exploration projects for critical minerals over the past three years, with 195 projects currently underway in FS 2024-25.

For FY 2025-26, GSI is going to take up 227 projects for various critical minerals.

To foster innovation, the Ministry launched the Science and Technology — Promotion of Research and Innovation in Start-ups and MSMEs (S&T PRISM) program in 2023, funding start-ups and MSMEs to bridge the gap between R&D and commercialisation.

Moreover, KABIL, a Joint Venture of the Ministry of Mines, has acquired an area of about 15,703 hectares in the Catamarca province of Argentina, for exploration and mining of Lithium.

The Indian government has already eliminated customs duties on the majority of critical minerals in the Union budget 2024-25. This will increase the availability of critical minerals in the country and will encourage the industry to set up processing facilities in India. These initiatives highlight India’s commitment to securing critical mineral supplies, the statement added.

Continue Reading

Business

Audi RS Q8 Performance Bookings Open At ₹5 Lakh; Launch On February 17; ₹1.6 Crore Anticipated Price

Published

on

Audi has commenced pre-bookings for its high-performance SUV, the RS Q8 Performance, ahead of its official launch on February 17. Interested customers can reserve the vehicle through Audi’s official app or website with a booking amount of ₹5 lakh.

At the heart of the RS Q8 Performance lies a 4.0-litre twin-turbo V8 engine, delivering an impressive 640hp and 850Nm of torque. This powertrain enables the SUV to accelerate from 0 to 100 km/h in just 3.6 seconds.

With the optional dynamic package, it can achieve a top speed exceeding 305 km/h. The vehicle also features Audi’s renowned Quattro all-wheel-drive system, complemented by a sport differential for enhanced handling.

The RS Q8 Performance is set to compete with high-performance SUVs `such as the Lamborghini Urus SE and Porsche Cayenne GTS. While the standard Audi Q8 is priced at ₹1.17 crore (excluding options), the RS Q8 Performance is anticipated to be priced around ₹1.6 crore.

RS Q8: Fastest road legal production SUV around Nürburgring

Notably, the RS Q8 Performance holds the distinction of being the fastest production SUV around Germany’s Nürburgring circuit, underscoring its exceptional engineering and performance capabilities.

With its potent engine, advanced drivetrain, and competitive positioning, the Audi RS Q8 Performance is poised to make a significant impact in the luxury high-performance SUV segment upon its release.

Continue Reading

Trending