Aviation stocks will be watched after the government on Wednesday reportedly cut excise duty on jet fuel to 11% from 14% with effect from 11 October 2018.
PTC India, supplying 290 MW power to Bangladesh, has signed two new agreements for supplying 200 MW power to Bangladesh on short term and long term basis to a total for 15 years. The short term Power for 200 MW power is from power pool of West Bengal State Electricity Distribution Company (WBSEDCL) and long term power will be supplied through imported coal from Meenakshi Energy's imported coal based project. With this new addition in cross border supply PTC will add more than 1.5 billion units to its existing supply of 7 billion units with neighbouring countries (Bangladesh, Bhutan and Nepal). The transaction is expected to give export earning of $1.8 billion over its contract period. The announcement was made after market hours yesterday, 10 October 2018.
ITI, a PSU under Department of Telecommunications, Ministry of Communications, Government of India, received purchase order for executing the RajNet project from RajCOMP Info Services, a Government of Rajasthan undertaking, for establishing approximately 40,000 outdoor Wi-Fi access points in the state of Rajasthan with an order value of approximately Rs 334 crore on rate contract basis. The project envisages supply, installation and maintenance of approximately 40,000 outdoor Wi-Fi access points along with associated RF Radio equipments in a period of six months followed by operation and maintenance of the network for a period of five years. The announcement was made after market hours yesterday, 10 October 2018.
Cochin Shipyard announced that its board will meet on 16 October 2018, to consider the proposal for buyback of the fully paid-up equity shares of the company. The announcement was made after market hours yesterday, 10 October 2018.
Oil India has made 2 Hydrocarbon Discoveries in Dibrugarh & Tinsukia district in the Upper Assam Basin during the second quarter of the financial year 2018-19, in the wells West Lohali -1 and Dhakuwal-l respectively. These discoveries are envisaged to open up new areas for further exploration in Assam and would help in enhancing the gas production with future appraisal & development activities. The announcement was made after market hours yesterday, 10 October 2018.
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