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New Delhi [India], June 19 (ANI): Hindustan Petroleum Corporation Ltd (<keyword id="6362419" type="General" weightage="20" keywordseo="HPCL" source="Orion">HPCL</keyword>), which is enhancing its footprints in the <keyword id="6354703" type="General" weightage="100" keywordseo="natural-gas" source="Orion">natural gas</keyword> market, on Monday said it has secured a major long-term contract from ONGC Petro additions Ltd (OPaL) for the supply of natural gas. HPCL will supply natural gas to ONGC Petro additions Ltd's petrochemical complex at Dahej in Gujarat. OPaL, a joint venture of ONGC, GAIL and GSPC, requires natural gas for operating its own captive power plant for supporting its power and steam requirements. In a stock filing, HPCL said it has won the contract through competitive bidding against a tender floated by OPaL. "HPCL will be supplying 13.53 Trillion Btu of Natural Gas to OPaL during the period October 23 to May 26 under this contract," the filing said. HPCL has ambitions in the natural gas business and is focused to build a strong foothold in the petrochemical and fertilizer sectors. Further, HPCL informed stock it has entered into an agreement with Automin Car Services Pvt Ltd, a subsidiary of Petromin Corporation, Saudi Arabia to establish co-branded HP-Petromin Express vehicle service centres across India. Petromin is a leading mobility solutions player in automotive technology with more than 700 multi-brand quick-service outlets across the GCC region. "This strategic partnership aims to provide world-class customer experiences at affordable prices and offer a comprehensive range of solutions under one roof, including lube change, light repairs, periodic maintenance, battery replacements, tire services, air conditioning repairs and eco carwash facilities," it added. The co-branded HP-Petromin Express vehicle service centres will be located in HPCL's retail outlets in metros and other major cities across India. (ANI)

HPCL bags contract from OPaL for supply of natural gas

New Delhi, Jul 9 () Global energy supermajor BP plc and Reliance Industries Ltd on Thursday announced the start of their fuel retailing joint venture under the brand 'Jio-bp'. BP had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel (ATF) stations owned by Reliance Industries Ltd (RIL) for USD 1 billion. The joint venture, where RIL holds the remaining 51 per cent, has now commenced operations. "Following initial agreements in 2019, bp and RIL teams have worked closely over the past few months in a challenging environment to complete the transaction as planned," the companies said in a joint statement, adding the new fuels and mobility joint venture, Reliance BP Mobility Ltd (RBML), has started operations. Operating under the 'Jio-bp' brand, the joint venture aims to become a leading player in India's fuels and mobility markets. RBML has received the marketing authorisation for transportation fuels, amongst other necessary regulatory and statutory approvals. The joint venture will begin selling fuels and Castrol lubricants with immediate effect from its existing retail outlets, which will be rebranded to 'Jio-bp' in due course. "It will leverage Reliance's presence across 21 states and its millions of consumers through the Jio digital platform. bp will bring its extensive global experience in high-quality differentiated fuels, lubricants, retail, and advanced low carbon mobility solutions," the statement said. India's auto fuel retailing is dominated by public sector oil companies that own the majority of 69,392 petrol pumps in the country. State-owned IOC, BPCL and HPCL own 62,072 petrol pumps and 224 out of the 256 aviation fuel stations in the country. BP and RIL said they expect the venture to grow rapidly to help meet India's fast-growing demands for energy and mobility. "India is expected to be the fastest-growing fuel market in the world over the next 20 years, with the number of passenger cars in the country estimated to grow almost six-fold over the period. RBML aims to expand from its current fuel retailing network of over 1,400 retail sites to up to 5,500 over the next five years," the statement said. This rapid growth will require a four-fold increase in staff employed in service stations -- growing from 20,000 to 80,000 in this period. The joint venture also aims to increase its presence from 30 to 45 airports in the coming years. RIL Chairman and Managing Director Mukesh Ambani said: "Reliance is expanding on its strong and valued partnership with bp, to establish a pan-Indian presence in retail and aviation fuels. RBML will aim to be a leader in mobility and low carbon solutions, bringing cleaner and affordable options for Indian consumers with digital and technology being our key enablers." Bernard Looney, BP chief executive officer, said India has been leading the way with innovations in digital technology, value engineering and new energy solutions. "It is a country that will require more energy for its economic growth and, as it prospers, its needs for mobility and convenience will accelerate. bp has a proud history in India spanning over a century. We are honoured to be a strategic partner with Reliance - India's most valuable company - and pleased that our partnership has grown in both substance and spirit over this past decade," he said. The new joint venture aspires to provide Indian consumers with advanced fuels with lower emissions, electric vehicle charging and other low carbon solutions over time. RBML is also committed to the decarbonisation of its own operations as well as that of its wider ecosystem, the statement said. With its many investments in India and employing around 7,500 people in the oil, gas, lubricants, and petrochemical businesses, BP is one of the largest international energy companies in India. In addition to its gas value chain, retail, aviation fuels, and mobility alliance with RIL, BP's activities include Castrol lubricants, oil and gas trading, clean energy projects through investment in Lightsource bp, IT back-office activities and a new global business services centre. BP owns 33.3 per cent stake in RIL-operated gas blocks in eastern offshore including the flagging KG-D6 block. ANZ ANZ ABM ABM

BP, Reliance to retail fuel under 'Jio-bp' brand

US-based consumer technology company <keyword id="43706" type="General" weightage="100" keywordseo="honeywell" source="Orion">Honeywell</keyword> on Monday said it has created innovative solutions to address safety concerns across the spectrum of EV manufacturing and use. The company said its lithium-ion battery safety sensors help play a crucial role in detecting potential battery fires, which can protect drivers. "With more than 10 million EVs sold around the world last year, we're seeing how pivotal they are in making the future of sustainable travel a reality," said <keyword id="17222020" type="General" weightage="50" keywordseo="sarah-martin" source="Orion">Sarah Martin</keyword>, president of Honeywell Sensing &amp; Safety Technologies. <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s EV market is expected to grow at a compound annual growth rate (CAGR) of 49 per cent from 2022 to 2030. Electric scooter use is also on the rise and more than half of India's three-wheeler vehicle registrations last year were electric, and electric two-wheelers are expected to grow by 27.3 per cent to $6.1 billion by 2030. In India, an additional 10 million direct jobs and 50 million allied jobs may be needed in this sector by 2030. "As a leader in EV and scooter battery safety, we aim to drive the electric mobility revolution in the country by augmenting safety standards, offering innovative ready-now solutions and helping our customers navigate the challenges of the rapidly-evolving electric vehicle market," said Ashish Modi, president, Honeywell India. Honeywell battery safety sensors, when integrated into EV and scooter battery packs, detect thermal runaway risks, enabling warning of passengers and allowing EV and scooter manufacturers to meet international battery fire safety standards. Through a strategic alliance with <keyword id="19320901" type="General" weightage="50" keywordseo="nexceris" source="Orion">Nexceris</keyword>, developer of lithium-ion gas detection solutions, Honeywell said it is developing sensors to detect earlier thermal runaway indicators in EV and scooter batteries. This early intervention can help avoid costly property damage or worse, injury to drivers. The company also offers electrical safety gear, portable and fixed gas detection technologies and <keyword id="1676024" type="General" weightage="80" keywordseo="ppe" source="Orion">PPE</keyword> such as gloves, face shields and dielectric boots for high-risk areas like electrode mixing, coating, drying and cell finishing.

Honeywell claims innovative solution to address EV battery fires

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> Limited (RIL) and BP Exploration Alpha Limited (BPEAL) have invited <keyword id="48985" type="PERSON" weightage="20" keywordseo="Bids">bids</keyword> through an online platform companies for the <keyword id="6355653" type="UNKNOWN" weightage="20" keywordseo="gas">gas</keyword> produced from the <keyword id="187231" type="PERSON" weightage="20" keywordseo="KG-D6-Basin">KG D6 basin</keyword> in Kakinanda. In a <keyword id="1176272" type="PERSON" weightage="20" keywordseo="public-notice">public notice</keyword>, RIL and BP while inviting bids said they expect to sell the gas from February 1, 2021. "The gas produced for KG D6 will be available for sale at the delivery point at Gadimoga near Kakinada, Andhra Pradesh tentatively from 01 February 2021," RIL and BP said in the notice. Crisil Risk and Infrastructure Solutions has been appointed by the consortium to conduct the bidding process for sale of gas through an online web based electronic bidding platform. The consortium is currently producing and developing deep water gas fields under the production sharing contract with the government. Earlier this month, RIL and BP had announced the start of production from the R Cluster, ultra-deep-water gas field in block KG D6 off the Kakinada coast. RIL and BP are developing three deepwater gas projects in block KG D6  R Cluster, Satellites Cluster and MJ  which together are expected to meet 15% of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s gas demand by 2023. These projects will utilise the existing hub infrastructure in KG D6 block. RIL is the operator of KG D6 with a 66.67% participating interest and BP holds a 33.33% participating interest. R Cluster is the first of the three projects to come onstream. The field is located about 60 kilometers from the existing KG D6 Control &amp; Riser Platform (CRP) off the Kakinada coast and comprises a subsea production system tied back to CRP via a subsea pipeline. Located at a water depth of greater than 2000 meters, it is the deepest offshore gas field in Asia. The field is expected to reach plateau gas production of about 12.9 million standard cubic meters per day (mmscmd) in 2021. SEE ALSO: <a href="https://www.businessinsider.in/india/news/these-are-some-important-changes-in-india-from-january-1-2021-new-year/articleshow/80021085.cms">From mandatory FAStag to quarterly GST returns — these are some important changes in India from January 1</a> <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-and-other-automakers-in-december-month-2020-auto-sale/articleshow/80021695.cms">December auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/tech/apps/news/google-is-testing-a-shortcut-feature-for-tiktok-and-instagram-videos/articleshow/80021865.cms">Google is testing a shortcut feature for TikTok and Instagram videos</a>

RIL and BP expect to sell gas from KG-D6 deep water blocks starting February

New Delhi, Dec 22 () India's biggest company Reliance Industries Ltd and UK's BP plc formalising plans to set up up petrol pumps under Jio-BP brand will impact market share of state-owned fuel retailers, Morgan Stanley said in a research report. 
 Reliance and BP last week announced further details of their retail fuel partnership, in which the British firm has taken 49 per cent stake for USD 1 billion. 
 The tie-up will see RIL's 1,400 existing pump stations being ramped up to 5,500 over five years. It also will increase the lucrative aviation fuel stations from 30 to 45. 
 "Targeted fuel station additions would be nearly equivalent to two-thirds of annual station additions by (state-owned) oil marketing companies (OMCs)," it said. "This should also help RIL sell more refined products domestically as refinery export restrictions ease." 
 Retail network will be under the Jio-BP brand and will cater to mobility solutions that may leverage BP's electric charging technologies and RIL's digital ecosystem. 
 "We have currently seen limited plans by OMCs on this front, however current regulations on the setup of electric charging infrastructure favour OMCs considering their reach." 
 RIL and BP expect to form their partnership by first half of 2020 and it will include convenience stores and Castrol lubricants. 
 Morgan Stanley said the overall increased competition in domestic fuel markets would re-rate multiples as fuel pricing gets delinked from government intervention. 
 "Also, contrary to the market's belief that retail fuel margins will weaken due to competition, we believe they can expand over the medium term towards regional averages, which are 1.5-2x higher than in India," it said. "If the RIL-BP venture hits its target for fuel stations, it would account for nearly 8 per cent of pump stations by 2025. We see an impact on OMCs' market share both in aviation and auto fuels." 
 It believed that market leader Indian Oil Corp (IOC) could be impacted the most, as seen over the past decade when its retail fuel market share declined by 10 percentage points (to below 40 per cent) in favour of private players. 
 "Bharat Petroleum Corp Ltd (BPCL), which has the highest exposure to highways, could see more aggressive pricing as RIL-BP would target these areas where throughput per outlet is higher," it said. "We see limited impact to HPCL considering its higher exposure to cities, which are normally tougher for new players to enter considering long-term leases even for dealer-operated stations." 
 However, both BPCL and HPCL have tried to protect market share in the past and they are seen keeping that stable going ahead. 
 In August, RIL had said BP will pay about Rs 7,000 crore for acquiring 49 per cent stake in its existing petrol pumps and aviation turbine fuel network. RIL will hold the remaining 51 per cent interest. 
 This is the third joint venture between Reliance and BP since 2011. 
 BP had in 2011 bought 30 per cent stake in 21 oil and gas exploration and production blocks of Reliance for USD 7.2 billion. At that time, another 50:50 joint venture, India Gas Solutions, was set up for sourcing and marketing gas in India. 
 The country currently has 66,408 petrol pumps, with public sector retailers owning 59,831. PSU retailers have plans to double this network and have already starting appointing dealers. 
 Russia's Rosneft-backed Nayara Energy, formerly Essar Oil, has 5,453 petrol pumps and has plans to scale them up to more than 7,000 in two-three years. 
 Royal Dutch Shell has 167 outlets and is slated to add 150-200 more petrol pumps. 
 BP had in 2016 received a licence from the government to set up 3,500 petrol pumps in India but it did not move on that authorisation. 
 French energy giant Total SA too is keen on entering the Indian retail market and has tied up with Adani Group for the same. ANZ ABM
ABM

Reliance-BP petrol pumps to dent PSU market share: Morgan Stanley

<ul><li>UK-based <keyword id="45964" type="COMPANY" weightage="20" keywordseo="Rolls-Royce">Rolls Royce</keyword> plc has reportedly been booked for cash over contracts worth ₹4700 crores. </li><li>Reports say that the charges come from the company's businesses with HAL,ONGC &amp; GAIL. </li><li>In February, the UK government dropped corruption charges against Rolls Royce in India.</li></ul>The UK-based company Rolls Royce has been charged with corruption in India. According to a Times Now alert, Rolls Royce plc has been booked for cash over contracts worth ₹4700 crores. According to ANI, the company paid ₹75 crores to officials. In February, <a href="https://www.businesstoday.in/top-story/uk-drops-corruption-charges-against-rolls-royce-in-india-other-countries/story/321559.html">reports</a> had said that the UK government had dropped corruption charges against Rolls Royce in India. However, the issue has cropped up again as media reports have suggested that the Central Bureau of Investigation (<keyword id="6354572" type="ORGANIZATION" weightage="20" keywordseo="CBI">CBI</keyword>) has accused Rolls Royce of bribing officials from the state-owned companies likes Hindustan Aeronautics Limited,oil and gas explorer ONGC &amp; and gas distribution major GAIL. "“We are aware of reports that the Central Bureau of Investigation (CBI) in India has announced a First Information Report relating to the use of intermediaries by Rolls-Royce’s former Energy business in India. This is not about our Defence, Civil Aerospace or Power Systems businesses. We await contact from the CBI and will respond appropriately. We will not tolerate business misconduct of any sort and we are committed to maintaining high ethical standards and no-one currently working for Rolls-Royce in India played any part in these Energy deals. India is an important market for Rolls-Royce and we have a valued workforce of skilled people in the country,” said a Rolls Royce spokesperson. <a href="https://www.thehindubusinessline.com/companies/rollsroyce-bets-big-on-gas-turbine-engine-technology-with-drdo/article9866339.ece">Rolls-Royce Holdings Limited</a>'s subsidiary has been working on gas turbine technology in India. Rolls Royce is the world’s second-largest maker of aircraft engines as well. However, Rolls-Royce Motor Cars is a wholly-owned subsidiary of the BMW Group. “We are working very closely with defence organisations — MoD, DRDO, NAL, HAL — on how to co-create products and solutions for the Indian market, because at the end of the day, the future is going to be about India owning the IP. Joint IPs between countries are the way to go,” <a href="https://www.thehindubusinessline.com/companies/co-developing-ip-is-the-key-to-drive-make-in-india-rolls-royce/article28561164.ece">Kishore Jayaraman,</a> President, South Asia, Rolls-Royce Plc. had told the media recently.

Rolls Royce bribed officials in government companies in India, says premier investigation agency

Remember the ransomware WannaCry that hit the globe last month? Well, a new ransomware has yet again hit several countries, locking up computer screens of as many as 20 companies across the world. <keyword id="4701507" type="UNKNOWN" weightage="100" keywordseo="Petwrap">Petwrap</keyword>, dubbed as an advanced version of ransomware <keyword id="3305248" type="ORGANIZATION" weightage="20" keywordseo="petya">Petya</keyword>, has targeted users across India and Europe and shipping, aviation and oil and gas companies have been hit in the UK, Russia, France, Spain and elsewhere. Petwrap is believed to be asking for $300 to free up the locked computer screens. Mondelez, Merck and Maersk were targeted by the ransomware. As per several reports, Indian units of UK and Russia-based oil and gas, energy and aviation companies were also hit. A Mondelez International spokesperson said, "The network is experiencing global IT outage. Our team is working to resolve the situation as quickly as possible." Meanwhile, Neeraj Bansal, deputy chairman of the Jawaharlal Nehru Port Trust said the operations at Gateway Terminals India, operated by Maersk Group-owned APM Terminals at the Mumbai-based port, has been impacted. "They are trying to do what they can manually. They have told us assessing the situation and trying to find a solution as soon as they can," Bansal told ET.

New ransomware, Petwrap, hits India, other countries; Indian shipping hub impacted

<ul><li>The 30-share BSE index was trading 69 points lower, and NSE Nifty was trading flat at 12,977 points.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes opened on a tepid note on Friday, tracking subdued cues from global markets. The 30-share BSE index was trading 69 points lower, and NSE Nifty was trading flat at 12,977 points. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td></tr></tbody></table>*as of November 27, 10:10 am These are the top stocks in news today. AstraZeneca Pharma India down nearly a percent AstraZeneca Pharma India trades in red after <a href="https://www.businessinsider.in/science/news/astrazeneca-will-likely-re-test-its-covid-19-vaccine-ceo-says-after-admitting-an-error-in-the-first-trial-that-may-have-skewed-results/articleshow/79434619.cms">AstraZeneca CEO</a> said it is likely to retest its COVID-19 vaccine after an error in the first trial that may have skewed results. Zydus Cadila trades 6% higher The shares of Zydus Cadila soared nearly 6% after the <a href="https://m.economictimes.com/industry/healthcare/biotech/zydus-cadila-to-apply-for-phase-3-trials-in-december-hopes-to-launch-vaccine-by-march/amp_articleshow/79437944.cms">news reports</a> surfaced that the company aims to apply for phase-3 trials in December and will launch the vaccine by March if it works out. Future Retail locked in 5% lower circuit for the second day The shares of Future Retail (FRL) were locked in a 5% lower circuit for the second day in a row. In a <a href="https://www.businessinsider.in/stock-market/news/future-retail-tells-the-bourses-that-not-every-stage-of-the-amazon-proceedings-would-be-material-event-for-disclosure/articleshow/79438955.cms">recent development,</a> Future Retail has informed the bourses that with Amazon taking the case back to Singapore court, not every stage of the proceeding is a “material event for disclosure.” Earlier this week, the National Stock Exchange (NSE) had warned FRL that it risked regulatory action for not making timely disclosures about the legal battle with Amazon over the disputed asset sale. DHFL locked in 5% upper circuit The shares of debt-ridden DHFL were locked in a 5% upper circuit for the ninth day in a row — hitting the 52-week high— after the company trimmed down its losses in the second quarter. Mahindra &amp; Mahindra trades over a percent higher Mahindra &amp; Mahindra’s (M&amp;M) gained over a percent after its wholly-owned subsidiary, Mahindra Holdings (MHL) has decided to sell its 100% stake of Mahindra First Choice Services (MFCS) and Auto Digitech (ADPL) to TVS Automobile Solutions (TASL). Indraprastha Gas, Gujarat Gas, Mahanagar Gas and other gas distribution stocks rally The shares of Indraprastha Gas, Gujarat Gas, Mahanagar Gas and other gas distribution stocks rallied over 10% after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure. The tariffs will be applicable based on two-zone structure related to distance from the source of gas. Indraprastha Gas was trading 13% higher, Gujarat Gas was up 6%, and Mahanagar Gas gained nearly 12%. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/checkout-top-electric-cars-price-from-delhi-mumbai-chennai-bengaluru-kolkata/articleshow/79429631.cms" data-type="tilCustomLink">From Tata Nexon EV and MG ZS EV to Hyundai Kona Electric — here’s how much top electric cars cost in India</a> <a href="https://www.businessinsider.in/science/news/astrazeneca-will-likely-re-test-its-covid-19-vaccine-ceo-says-after-admitting-an-error-in-the-first-trial-that-may-have-skewed-results/articleshow/79434619.cms" data-type="tilCustomLink">AstraZeneca will likely retest its COVID-19 vaccine, CEO says after admitting an error in the first trial that may have skewed results</a>

Top stock movers — Future Retail, AstraZeneca, Cadila, DHFL, M&M, Indraprastha Gas, Gujarat Gas, Mahanagar Gas, and others

Ahmedabad, Deepening its <keyword id="116175" type="ORGANIZATION" weightage="20" keywordseo="strategic-alliance">strategic alliance</keyword> in India's sustainable energy space, French energy major Total proposes to acquire 20% minority interest in Adani Green Energy Ltd. (AGEL). The deal will be completed with Total acquiring shares held by the Adani Promoter Group in AGEL. The transaction marks the deepening partnership between the <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword> and Total -- in the transition and green energy fields in India. The investment in AGEL is another step in the strategic alliance between Adani Group and Total, across various businesses and companies of the Adani Group, covering investments in LNG terminals, gas utility business, and renewable assets across India. In 2018, Total and Adani embarked on the energy partnership with investment by Total in <keyword id="5214668" type="COMPANY" weightage="20" keywordseo="Adani-Gas-Limited">Adani Gas Limited</keyword>, city gas distribution business, associated LNG terminal business and gas marketing business. Total acquired 37.4% stake in Adani Gas Limited and 50 per cent stake in Dhamra LNG project. During the development of this partnership, it was further agreed that Total and Adani shall continue this alliance into the wider sustainable energy space. Total and Adani agreed the acquisition of a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL and a 20 per cent stake in AGEL for a global investment of $ 2.5 Billion. India has set a policy target of setting up 450 GW of renewable power capacity by 2030. In this context, Adani Group and Total have joined hands to develop green power sources at affordable prices and to deliver transformational energy solutions. AGEL, started in 2015 with the world's largest single location solar power project located in Kamuthi, Tamil Nadu (648 MW) has come a long way to be ranked as the number one global solar power generation asset developer by Mercom Capital. As on date, AGEL has over 14.6 GW of contracted <keyword id="4400882" type="PERSON" weightage="20" keywordseo="renewable-capacity">renewable capacity</keyword>, with an operating capacity of 3 GW and another 3 GW under construction and 8.6 GW under development. The company aims to achieve 25 GW of renewable power generation by 2025. Speaking on the occasion, Adani Group Chairman, Gautam Adani, said, "We are delighted to deepen our strategic alliance with Total, a global energy major, and welcome them as a significant shareholder in <keyword id="4543956" type="COMPANY" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword>. We have a shared vision of developing renewable power at affordable prices to enable a sustainable energy transformation in India. We look forward to working together towards delivering India's vision for 450 GW renewable energy by 2030." Speaking on the occasion, Total CEO, Patrick Pouyanne, said, "This agreement is an important step in our alliance with the Adani Group in India and our common vision and goals with respect to the importance of access to low carbon energy in India. Our entry into AGEL is a major milestone in our strategy in the renewable energy business in India put in place by both parties, which began with our first joint venture 2.3GW of renewable capacity. Given the size of the market, India is the right place to put into action/to deploy our energy transition strategy based on two pillars: renewables and natural gas." The Adani Promoter Group was represented by Clifford Chance and Cyril Amarchand Mangaldas. Total was represented by Latham &amp; Watkins and AZB Partners. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a>

French energy major Total proposes to acquire 20% stake in Adani Green Energy

<ul><li>Shell, the gas ‘super major', opens its first ever research lab in India. </li><li>This is the first time that Shell is building a team of technical experts in India, though it invests nearly $1 billion on research. </li><li>India is an important market for any oil company since it represents the world's third largest demand for <keyword id="6447139" type="UNKNOWN" weightage="20" keywordseo="Lubricants">lubricants</keyword>. </li></ul>Shell, one of the world's largest oil companies, is opening its first ever lubricants lab in Bengaluru, India. And, the company brought in 15 technical experts to form a team that will work with manufacturers in India and around the world. These scientists will work with Shell's partner to engineer and develop new solutions that increase efficiency. <div type="ExtQuote" text="The lubricants laboratory is an important milestone in our journey to serve our customers better, accurately matching their requirements. In addition to serving OEMs, this laboratory will also enable us in developing performance data of Shell branded products relevant to Indian customers." auname="Mansi Tripathy, Country Head, Shell Lubricants India"></div>

 The new lab will be a key factor in supporting Shell's business development and building on feedback from Indian consumers and manufacturers. Cracking open Shell's India story Despite being a gas ‘super major' and being in India for over 70 years, the company has around 5% market share in lubricants India. By the company's <a href="https://www.shell.in/media/shell-in-the-news/we-are-at-the-top-globally-our-ambition-is-to-become-no-one-in-india.html">own admission</a> one of the main barriers to entry is the price-sensitive nature of regional players, and the dominance of government-owned companies in the field. Globally, Shell invests around $1 billion into <keyword id="73655" type="ORGANIZATION" weightage="20" keywordseo="Research-and-Development">research and development</keyword> and has around 1,300 patents to its name. In India, it wants to build on the 20% CAGR growth that it has seen over the past five years by increasing its research efforts in the country. The plan is for the lab to help Shell's partner manufacturers improve the efficiency and reliability of their products using a combination of data analysis and new technology. <div type="ExtQuote" text="OEM (original equipment manufacturer) partnerships are the main pillars of our technology leadership. At Shell, we are significantly investing in the R&amp;D of lubricants that help us pioneer solutions to support the evolving needs of OEMs and customers." auname="Mansi Tripathy, Country Head, Shell Lubricants India"></div>

 India's an important market for Shell corner since it represents the world's third largest market for lubricants. Opening the lab in India not only ups the ante in India but builds inroads for Shell's other global partners. See also: <a href="https://www.businessinsider.in/indias-government-is-asking-its-largest-oil-company-to-sell-fuel-below-global-prices/articleshow/64300993.cms">India's government is asking its largest oil company to sell fuel below global prices</a> <a href="https://www.businessinsider.in/indians-will-have-to-deal-with-higher-oil-prices-as-polling-ends-and-global-supply-remains-curtailed/articleshow/69410192.cms">Indians will have to deal with higher oil prices as polling ends and global supply remains curtailed</a> <a href="https://www.businessinsider.in/the-worlds-largest-oil-company-is-setting-up-a-refinery-in-india-despite-farmer-protests/articleshow/64745899.cms">The world's largest oil company is setting up a refinery in India, despite farmer protests</a>

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