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Monday, April 27, 1998
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Centre and State panels to monitor power tariffs soon
Taking an important step towards reforming the power sector, the Government has issued an ordinance to set up the Central Electricity Regulatory Commission (CERC) and the State Electricity Regulatory Commission (SERC). To be set up as independent bodies within three months, the CERC and SERCs will mainly decide the power tariffs which can be charged from consumers.
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DCA wants nine more directors on Dunlop India board
The government, in a bid to wrest control in Dunlop India Ltd (DIL) has sought permission from the Company Law Board (CLB) to appoint additional directors on the board of the tyre company. The petition filed through Department of Company Affairs (DCA) before CLB has asked for appointment of nine more directors for three years.
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ONGC, NTPC in JV for power
Two public sector enterprises, Oil and Natural Gas Corporation (ONGC) and National Thermal Power Corporation (NTPC), have signed a deal to set up a joint venture company to produce power in India and abroad. The two corporations signed a memorandum of understanding (MoU) on Saturday to take up a 300 MW naptha fueled power project at Hazira in Gujarat.
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Investors reap riches as scrips spurt
Indian investors have never had it so good. They are richer by almost Rs 1,25,000 crore in the last three months, thanks to the jump in share prices. The market capitalisation of shares has gone up from Rs 4,70,000 crore to Rs 6,05,000 crore. This means that the value of the shares held by investors has gone up by nearly 23%.
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