Heat, humidity push power demand, fuel sales mixed
03 Jul
Business News

Heat, humidity push power demand, fuel sales mixed

Posted by author-avatar
0
Business new tamfitronics NEW DELHI: The intense heat wave and rising humidity with the onset of monsoon towards end of the month drove up power consumption by 9% in June as households and commercial establishment ran cooling appliances for longer hours.But petrol, jet fuel and LPG sales posted moderate gains, while diesel remained in the slow lane during the month, essentially on loss of farm sector demand.Govt data pegged power consumption at 152.3 billion units (BU) during the month under review against 140.2 BU. The highest demand met in a day, also known as 'peak demand met' in industry parlance, too jumped 9.8% to 245.4 gigawatts (GW) from 223.2 GW in June 2023.The picture was mixed for fossil fuels. Diesel demand, a key indicator of economic activities, was 1.3% lower than June 2023....
Continue reading
Patanjali to acquire parent’s non-food biz
03 Jul
Business News

Patanjali to acquire parent’s non-food biz

Posted by author-avatar
0
Business new tamfitronics MUMBAI: The board of Patanjali Foods (earlier known as Ruchi Soybean Industries) has approved the acquisition of the home and personal care business of parent Patanjali Ayurved for Rs 1,100 crore, the company said on Monday. The acquisition will add to Patanjali Food's product portfolio which, at present, largely consists of edible oils. Patanjali Ayurveda's HPC business covers dental care, skin care, home care and hair care.The deal will be completed by way of a slump sale and the payment will be made in five tranches, Patanjali Foods said in an exchange filing."The acquisition will bring along with it key synergies in terms of brand equity and enhancements, product innovations, cost optimisation, infrastructure & operational efficiencies and positive impact on market share," the company said.The firm and Patanjali Ayurved...
Continue reading
Hut 8 Announces Closing of $150 Million Investment from Coatue, Business News
03 Jul
Business News

Hut 8 Announces Closing of $150 Million Investment from Coatue, Business News

Posted by author-avatar
0
Business new tamfitronics PUBLISHED ONJuly 01, 2024 10:30 AM Hut 8 Announces Closing of $150 Million Investment from Coatue GlobeNewswire July 01, 2024 MIAMI, July 01, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, is pleased to announce it has closed its previously announced $150 million convertible note...
Continue reading
Mazda: Announcement by Ministry of Land, Infrastructure, Transport and Tourism Regarding Applications for Type Designation, Business News
03 Jul
Business News

Mazda: Announcement by Ministry of Land, Infrastructure, Transport and Tourism Regarding Applications for Type Designation, Business News

Posted by author-avatar
0
Business new tamfitronics HIROSHIMA, Japan, July 1, 2024 - (JCN Newswire) - We would like to express our deepest apologies again to our customers, business partners, dealers, and all other stakeholders related to Mazda for the concern and inconvenience caused by the recent irregularities in Mazda's applications for type designation.Today, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced the guidance on the matter, the confirmation results of conformity to the standards, and the lifting of the order to suspend shipments of current production vehicles. Based on the results of the on-site inspection, Mazda is instructed to implement measures to prevent recurrence, and to report on the implementation status of these measures every six months for the time being. MLIT has confirmed that the five affected models*1 are in compliance with the standards.As a...
Continue reading