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HomeNewsHike in power tariff, EV scooter makers get notices & more: Mint...

Hike in power tariff, EV scooter makers get notices & more: Mint Morning Digest

India to import 76 mt coal; will spark power tariff hike

India has firmed up a plan to import around 76 million tonnes (mt) of coal to help plug a fossil fuel shortfall at its power plants in the current financial year. This in turn may result in an increase in electricity tariffs by 50-80 paise per unit depending on the distance of the power stations from sea ports, according to two government officials aware of the development. Read more

Notices served on EV scooter makers over fire incidents: Nitin Gadkari

Union ministry for transport and highways has served notices to CEOs and MDs of two wheeler electric scooter manufacturers whose scooters have caught fire, and further action would be taken after their replies are received, said union minister Nitin Gadkari. Read more

Telcos may bid for spectrum worth 1.6 tn

Telecom companies are likely to pick up spectrum worth 1.6 trillion, or at least 33% of the airwaves put on sale at the 5G auctions, if they were to bid for the pricier 700 Mhz band, said analysts tracking the sector. Read more

Falling rupee, weak US stocks give Indian investors chance to diversify

Investment by Indians in international equities and debt is gaining pace as the rupee struggles to keep up against the US dollar and weak global stock markets open up avenues for investors looking to diversify portfolios. Read more

Easing of supply chain constraints may soothe Gland Pharma’s pain

Gland Pharma Ltd’s June quarter (Q1FY23) was plagued by various troubles. India revenues fell by 72% year-on-year (y-o-y) as the shutdown of two of its manufacturing lines for productivity improvement hurt business. Read more

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