Trinamool Congress leader Mukul Roy was on Thursday appointed as the new minister of state for railways following the resignation of Mamata Banerjee from the Cabinet. Prime minister Manmohan Singh will retain the railway portfolio in the Cabinet
New Delhi: Trinamool Congress leader Mukul Roy was on Thursday appointed as the new minister of state for railways following the resignation of Mamata Banerjee from the Cabinet, reports PTI.
Prime minister Manmohan Singh will retain the railway portfolio in the Cabinet.
Mr Roy, minister of state for shipping, will hold additional charge of railways, a Rashtrapati Bhavan spokesperson said.
President Pratibha Patil on Thursday accepted the resignation of Banerjee who will be sworn-in on Friday as the West Bengal chief minister. Earlier, the prime minister forwarded her resignation to the president.
There are already two ministers of state—Bharatsinh Solanki and KH Muniappa—in the railway ministry.
The missile is envisaged to intercept and destroy enemy aircraft at supersonic speeds in the head-on mode at a range of 80km and in tail-chase mode at 20km
Balasore (Orissa): The country today carried out the ballistic flight test of Astra-a 'Beyond-Visual-Range Air-to-Air Missile'-from the Integrated Test Range (ITR) at Chandipur near Balasore in Orissa today.
The missile was fired at around 9.50AM, Defence Research and Development Organisation (DRDO) sources said, adding two more tests are likely to be conducted in the next two days, reports PTI.
The missile is envisaged to intercept and destroy enemy aircraft at supersonic speeds in the head-on mode at a range of 80km and in tail-chase mode at 20km.
"The main purpose of today's trial is to gauge the performance of the motor, propulsion system and the configurations of the vehicle and aerodynamics evaluation," said a DRDO scientist.
The data is being analysed by the scientists to ascertain the outcome of the trial.
The missile, after its final trials, would be integrated with fighter aircraft Su-30 MKI. Astra missiles would also be carried by MiG-29 and the Light Combat Aircraft, Tejas.
Astra, which uses solid propellants, can carry a conventional warhead of 15kg. It is the smallest of the missiles developed by the DRDO in terms of size and weight.
It is 3.8-metre long and has a diameter of 178mm with an overall launch weight of 160kg. The missile can be launched from different altitudes. It can cover 110km when launched from an altitude of 15km, 44km when fired from an altitude of 8km and 21km when the altitude is at sea-level.
DRDO officials said that it is more advanced than the similar class of missiles of the US, Russia and France. The missile's captive flight tests from Su-30MKI were carried out near Pune in November 2009 when seven sorties were conducted.
Astra's first flight trial took place on 9 May 2003 from the ITR at Chandipur.
The company attributed the fall in profits in Q4 to lower forex gains of Rs61 crore from Coastal Gujarat Power versus Rs358 crore last year and a reversal of deferred tax provision of Rs83 crore in New Delhi Power last year, which is recoverable from future tariff
Mumbai: Private sector electricity utility major Tata Power on Thursday posted a 30% dip in consolidated net profit for the quarter ended 31st March at Rs661.54 crore, as compared to Rs942.78 crore, on the back of lower forex gains and a reversal of deferred tax provision, reports PTI.
For the 12-month period in FY10- 11, its consolidated net profit improved 6% to Rs2,088.12 crore.
The company attributed the fall in profits in Q4 to lower forex gains of Rs61 crore from CGPL (Coastal Gujarat Power) versus Rs358 crore last year and a reversal of deferred tax provision of Rs83 crore in New Delhi Power last year, which is recoverable from future tariff.
The Tata group company plans to install over 2,600MW of generation capacity from thermal power in FY11-12 which will be coming from the Mundra UMPP (1,600MW) and Maithon (1,050MW) plants, its executive director, (operations) S Padmanabhan, told reporters here.
It will be investing up to Rs7,000 crore in the various projects it is erecting in the ongoing FY11-12 and has achieved financial closure for all the projects, he said.
Asked about fund raising plans, the company's executive director, finance, S Ramakrishnan said it is always on the look-out for raising money and does not have any specifics to share at this juncture.
He said on fuel linkages and protecting costs in a rising prices scenario, the company does not have a worry as of now as the costs are getting passed on to consumers, but said there will be "some pressure" in coming time as yearly contracts it has entered into are coming up for renewal soon.
Meanwhile, in order to make the stock more affordable for retail investors, the company board has also recommended a stock split under which one share will be split into 10.
The board has also recommended that the dividend be increased to Rs12.50 per share from last year's Rs12, Mr Ramakrishnan said.
Tata Power added 1.60 lakh consumers in Mumbai during the fiscal. It will invest Rs1,000 crore during the current fiscal for augmenting its distribution in Mumbai as against Rs200 crore in the year before.
It plans to commission the first of the five 800MW units at Mundra, Gujarat, by September end and a second one as the financial year draws to a close, Mr Padmanabhan said, adding the challenge in the project is evacuation of the power produced by laying the transmission network.
As regards the Maithon project, Tata Power expects the first unit to be commissioned by early July and the second one by November, he said.
Presently, the total generation capacity of the company stands at 3,127MW.