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State-owned fuel retailers reported bumper profits in the June quarter, as a freeze on retail prices boosted petrol and diesel margins, offsetting earlier inventory losses. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) reported a combined profit of Rs 16,184 crore in April-June, the first quarter of FY26 - more than two-and-a-half times higher year-on-year, according to regulatory filings by the companies. Among the three, BPCL led with a Rs 6,124 crore profit, surpassing IOC's Rs 5,689 crore, despite being nearly half its size. HPCL posted a net profit of Rs 4,371 crore in Q1. BPCL also fared well on refining margins, earning USD 4.88 in turning every barrel of crude oil into fuels like petrol and diesel. This was better than the USD 2.15 per barrel gross refining margin of IOC and the USD 3.08 of HPCL. Its refinery run rate at 118 per cent (of installed capacity) was higher than 107 per cent of IOC and 10.9 per
State-owned CIL on Friday reported a six per cent drop in production at 229.8 million tonnes (MT) in the April-July period of the current financial year even as the government is making efforts to increase the output to cut imports. The company had produced 244.3 MT of coal in the corresponding period of the previous fiscal, Coal India Ltd (CIL) said in a filing to BSE. The coal behemoth did not give reasons for the decline in production. However, industry analysts attribute the production dip to typical monsoon-related disruptions, which can hinder mining operations and dispatch to power plants. CIL accounts for over 80 per cent of domestic coal output. Coal production in July also dropped to 46.4 MT from 55 MT in the corresponding month of previous fiscal. Coal Minister G Kishan Reddy had earlier said that the country will not face any shortage of coal in the upcoming monsoon season, as the government is well prepared to meet the demand across various sectors, including the powe
State-owned NTPC on Thursday said it has received shareholders' approval to raise up to Rs 18,000 crore through issue of non-convertible debentures on a private placement basis. The fund will be raised in up to 12 tranches, through a private placement during the period commencing from the date of passing of the special resolution till completion of one year thereof, according to a regulatory filing. NTPC had issued a notice of postal ballot on June 23, 2025, to seek approval of the members by way of special resolution through remote e-voting regarding raising of funds through the issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (NCDs), amounting up to Rs 18,000 crore. The said resolution has been passed with the requisite majority, the filing said on Thursday. On June 21, the company's board of directors considered and approved the draft notice of postal ballot in respect of seeking shareholders' approval for the issue
BEML Limited, a Schedule 'A' public sector enterprise under the Ministry of Defence, on Wednesday said it has received an order worth Rs 293.81 crore from the Ministry of Defence for the supply of 150 indigenously designed high mobility vehicles (HMVs) 6x6. The vehicles will primarily be manufactured at BEML's Palakkad and Mysore plants, with additional production to be undertaken at other divisions based on operational feasibility, the PSU said in a statement. Designed to deliver high reliability and versatility, the 6x6 HMVs are built to operate effectively in extreme terrains, diverse climatic conditions and at high altitudes, it explained. Key features of the HMVs include an independent suspension system, a high-power air-cooled engine, a central tyre inflation system, an anti-lock braking system, and a backbone tube chassis design ensuring superior mobility, stability, and operational safety. "This order showcases BEML's expertise and capacity in delivering advanced indigenou
The government has approved the restructuring of the boards of THDC India and NEEPCO, both arms of state-owned power giant NTPC. The Ministry of Power (MoP) had proposed the appointment of a non-executive chairperson and the re-designation of the post of CMD to Managing Directors (MD) on the board of NEEPCO and THDCIL, as per an official document. After restructuring, the CMD of NTPC shall be the non-executive Chairperson of North Eastern Electric Power Corporation (NEEPCO) and THDCIL, while the MDs at THDCIL and NEEPCO shall be appointed as per the extant Department of Public Enterprises guidelines, through the Public Enterprises Selection Board and Appointments Committee of the Cabinet. There will be no post of Director (Technical), Director (Finance) and Director (Personnel) at the two entities now, according to the notification dated July 18. As the post of Director (Finance) for NEEPCO and THDCIL is proposed to be abolished, the Director (Finance) of NTPC should be present in
Of the total corruption complaints received by the Central Vigilance Commission last year, the highest number of plaints was against railway employees, followed by those in Delhi's local bodies and public sector banks, a report by the anti-graft watchdog showed. As many as 74,203 graft complaints were received against all categories of officers/employees in 2023, of which 66,373 were disposed of and 7,830 were pending, it said. The highest 10,447 complaints were made against railway employees, followed by 7,665 against staffers of "local bodies except GNCTD" (Government of National Capital Territory of Delhi) in the national capital, said the CVC report made public recently. The local bodies include Delhi State Industrial and Infrastructure Development Corporation Ltd, Delhi Jal Board, Delhi Tourism and Transportation Development Corporation, Delhi Transport Corporation, Delhi Transco Limited, Delhi Urban Shelter Improvement Board, Indraprastha Power Generation Co Ltd, Municipal ...
UCO Bank on Tuesday said it aims to reduce the government's stake in the bank from the current 95.39 per cent to 75 per cent in several tranches by fiscal 2024-25, to comply with the minimum public shareholding norms set by SEBI. The lender has time until August to comply with this but it hopes to receive a further extension, a top bank official said. Four other public sector banks have also laid out plans to pare down government holdings to meet SEBI regulations. "We don't need equity for growth as our capital adequacy is at 16.98 per cent. However, we must reduce the government's stake to 75 per cent to meet listing regulations, and we aim to do so within this fiscal year. The board has approved the issuance of 400 crore equity shares for this purpose. We will execute this in tranches," said UCO Bank MD & CEO Aswani Kumar. He said various options will be explored as issuance plans get firmer. "To comply, the issuance of 330-340 crore equity shares at Rs 10 each would have been .