State-run power producer NTPC Ltd has altered its original plan of taking over stressed power plants in the private sector and now plans to offer fee-based management services, a top official of the company has said.

"For the stressed power plants that are still under implementation, NTPC intends to assist the banks in completing construction of these projects, achieve commercial operations and maintain generation, NTPC Director, Finance, K Biswal said.

Indian stock markets opened higher on Thursday following the record closing in US markets on Wednesday along with the optimism on the outcome of GST council meeting starting today and ongoing Q2 earnings season. Among the biggies, Tata Motors, Hindustan Petroleum Corporation, Aurobindo Pharma are slated to announce their second-quarter earnings today. BSE Sensex gained 157.81 to open at 33,376.62 points while NSE Nifty added about 55.5 points to start at 10,358.65 points.

NEW DELHI: Reliance Communications (RCom's) Rs 11,000-crore tower deal with Canada's Brookfield has collapsed, company director Puneet Garg said on Wednesday. The setback comes at a time when lenders to the company are trying to sell assets in a piece-meal fashion to recover their dues, nearly a month after the telco's merger deal with Aircel had fallen through.

After it entered strategic debt restructuring (SDR), RCom gave 51% equity (valued by the company at Rs 7,100 crore) to bankers in lieu of its outstanding debt of Rs 47,000 crore.

Auction of reserves selected for commercial mining is likely to be completed by the end of March, and this is likely to end state-owned Coal India's near monopoly in the domestic market.

On the sidelines of the 7th Asian Mining Congress & Exhibition, Coal Secretary Susheel Kumar said the Cabinet Committee on Economic Affairs might take a decision on the commercial mining proposal this month. Allocations would be completed by the end of this financial year.

NITI Aayog CEO Amitabh Kant has replaced Subhash Chandra Garg, secretary in the department of economic affairs, on the board of the National Highways Authority of India (NHAI).

The reorganisation of the NHAI board was made as part of the Cabinet approval for the ambitious Bharatmala programme.

A new report has valued assets of Hindustan Petroleum (HPCL) at Rs 114,000 crore — nearly 70 per cent premium to its current market capitalisation of around Rs 66,000 crore. The higher valuation of HPCL’s assets by JM Financial, if accepted by the government, would mean a higher outgo for ONGC.

The JM Financial report has been submitted to the government, which had mandated the Mumbai firm to advise it on the transaction.

Capital market regulator Securities and Exchange Board of India (Sebi) has charged 22 entities, including Gujarat Chief Minister Vijay Rupani’s Hindu Undivided Family (HUF), for “manipulative trades” in little-known company Sarang Chemicals.

The regulator has imposed separate penalties amounting to Rs 6.9 crore on the 22 entities, which Sebi investigation found were “connected or related”. Rupani’s HUF has been asked to pay Rs 15 lakh, while three other individuals would have to shell out Rs 70 lakh or more each.

Ford India is all prepped to launch the upgraded version of its much celebrated compact SUV, the EcoSport, in India on 9 November. 2017 Ford Ecosport facelift will be manufactured at the company's plant in Chennai and the new 1.5L three-cylinder petrol engine that will debut in India in the new Ecosport will be manufactured at Ford's factory in Sanand. First unveiled at the 2017 LA Motor Show, the EcoSport was the first to introduce the compact SUV culture in India. It proved to be a success story for the American brand in the country with some variants having nine months of waiting period.

State-run power equipment maker BHEL today said it has bagged an order worth Rs 350 crore for setting up two 765 kV substations in West Bengal. This is the largest value 765 kV substation project order for BHEL so far, it said in a statement. The order has been placed on BHEL by Powergrid Medinipur-Jeerat Transmission Ltd (PMJTL), a wholly-owned subsidiary of Power Grid Corp. The project has to be completed on Engineering, Procurement & Construction (EPC) basis. BHEL’s scope of work in the contract envisages constructing two large sized greenfield 3,000 MVA, 765/400 kV substations, at Medinipur and Jeerat (near Kolkata).

Ashok Leyland Ltd posted a net profit of Rs 334.25 crore during the quarter ended September 30, 2017, up by 14 per cent from Rs 294.4 crore registered during the same quarter of the previous financial year.

Total income grew 23.45 per cent to Rs 6,102.55 crore during the quarter compared to Rs 4,943.23 crore during the corresponding period of the previous financial year.

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