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Goonj founder claims firecracker devastated its Delhi centre

Gupta posted on Facebook the pictures of the fire at the NGO's Sarita Vihar centre and wrote that the fire lasted for about seven hours and was doused by 10 fire tenders

 

Anshu Gupta, the founder of NGO Goonj, on Friday posted pictures of a devastating fire at a centre of his NGO here on Diwali night and claimed it was caused by a firecracker.
 
Gupta posted on Facebook the pictures of the fire at the NGO's Sarita Vihar centre and wrote that the fire lasted for about seven hours and was doused by 10 fire tenders.
 
"Here I was asking you to spread the message against (fire) crackers and there a cracker did this to Goonj's centre in Delhi. Seven hours of un-manageable fire, 10 fire brigades till 2 a.m. on Diwali night. 3000 sq.ft of area, tonnes of material, where we all had put in our days and nights turned into ash!!"
 
"Response on a few things from our Delhi office might be slow for the next couple of days as the team is fighting back with this huge loss of material, money and space!!" he added.
 
Speaking to IANS, Gupta said they would strive to recover the loss through campaigns.
 
"We lost materials like winter clothes and blankets. It is a major loss but I'm sure we will be able to recover it through our ongoing campaigns," he said.
 
A police officer told IANS that the fire was caused by firecrackers. He said a case has been registered in connection with the accident and loss caused is being assessed.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Niko to surrender stake in NEC-25 gas block to RIL, BP

Niko's 10 percent interest will be divided between RIL and British major BP in proportion to their equity stake in the block of 60 percent and 30 percent, respectively

 

Reliance Industries (RIL) consortium partner Niko Resources of Canada has decided to quit RIL's gas discovery block NEC-25 on the eastern offshore, by divesting its 10 percent stake to the existing partners.
 
"In the second quarter of fiscal 2016, the company elected to withdraw from the NEC-25 block and relinquish its interest to the remaining interest holders," Niko said declaring its second quarter earnings on Friday.
 
Niko's 10 percent interest will be divided between RIL and British major BP in proportion to their equity stake in the block of 60 percent and 30 percent, respectively.
 
Due to the need to finance its debt payments, Niko had put up for sale its interest in NEC-25 as well as its 10 percent stake in RILs Krishna Godavari basin block KG-DWN-98/3 or KG-D6.
 
Gas discoveries in NEC-25, off the Odisha coast, hold recoverable reserves of 1.032 trillion cubic feet.
 
Niko said it will not be able to conclude negotiations for sale of its upstream interest by November 15 and will seek an extension from its lenders for additional
time.
 
"The company's management is focused on reducing ongoing costs by reducing staff and closing branch offices in countries where it had been exploring," it said.
 
"The company will continue its efforts to monetize its non-core assets and minimize cash outflows outside of its core areas," it added.
 
Niko had in February announced it intended to sell-off its 10 percent stake in the Krishna-Godavari basin KG-D6 block to square a $340 million debt. The company had earlier planned to sell off the interest by April 30, but later extended it till May 31.
 
It had earlier blamed a lower-than-expected gas price announced by the Indian government for its decision to sell its stake.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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