News 20 mars 2012

Reliance Industries’ largest gas fields in its KG-D6 block have hit an all-time low production of about 28 mmscmd as the firm shut six wells due to water and sand ingress.

Tata Power has synchronised its second unit of 525 MW at Maithon Mega Power Project in Jharkhand.

Union Bank of India : Moody’s downgraded the rating for Union Bank of India by a notch, owing to weak asset quality and inadequate loss-absorption capacity. (BS)

Coal India earned Rs49.29bn more from sale of coal through e-auction in the first 11 months of the current fiscal than what they would have earned, if coal was sold at notified prices.

HCC : A consortium of 27 lenders, including State Bank of India and Punjab National Bank, is persuadingHindustan Construction Co to pay up at least the interest before the month-end to prevent the account from turning sour.

Rpower : Power procurers may sue Reliance Power for project delay in Krishnapatnam power plant in Andhra Pradesh.

State Bank of India has decided to cut interest rates on loans to small and medium enterprises to 12-14% from the existing 16-17%.

Bank of Baroda raised fixed deposit rates of select maturities by up to 0.25 percentage points.