INDUSTRIAL UPDATE

NEW DELHI: Railways will formulate a comprehensive energy efficiency plan to reduce energy bill by Rs 5,000 cr in the next five years.

“Energy bill is the second largest in railways after salary and pension. So we have to use the energy in as such a way so as to optimize the cost,” Railway Minister Suresh Prabhu said here today.

While the diesel bill is about Rs 22,000 crore, the electricity cost is about Rs 12,500 crore a year in railways.

Our approach at this point would be bottom-up investing. But if I have to name a few sectors and themes, I would say automobiles, consumer plays (not staples), auto ancillaries, ports and defence would be a few of them.

After rallying over 15% in last one year, will midcaps outshine large caps this Sam vat? There could be a moderate outperformance as far as the midcap index is concerned, but it would be accompanied by high volatility.

NEW DELHI: Air India will report an operating profit in the current fiscal, primarily benefiting from low crude prices and improved operational efficiency, the government said today.

The loss-making national carrier, surviving on a Rs 30,000 crore bailout package, is implementing a turnaround plan.

“Air India is going to report operating profit in this financial year (ending March 31, 2016) and is expected to be Rs 6 crore,” Civil Aviation Secretary R N Choubey

KOCHI: A day after the Union Cabinet unveiled a scheme to rescue almost bankrupt state electricity retailers, Union Power Minister Piyush Goyal today said Ujjwal Discom Assurance Yojana (UDAY) will help in a big way in wiping out the losses of discoms by 2019.

Inaugurating the conference of Power, Renewable Energy & Mines Ministers of State and Union Territories here, he said “a clear roadmap has been drawn to solve the present crisis of discoms.”

MUMBAI: Reserve Bank today allowed state co-operative banks (StCBs) and district central co-operative banks (DCCBs) to offer internet banking with “view only” facility.

At present, urban cooperative banks (UCBs) that meet certain criteria are permitted to provide internet banking with transactional facility to their customers with prior approval of the RBI.

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