logo
Kerala State Electricity Board to collect 6 paise per unit as fuel surcharge in July

Kerala State Electricity Board to collect 6 paise per unit as fuel surcharge in July

The Hindu5 hours ago

The Kerala State Electricity Board (KSEB) will collect 6 paise per unit as fuel surcharge on electricity bills in July.
The decision is applicable to customers under monthly and bi-monthly billing systems. The surcharge is aimed at recovering ₹15.75 crore spent additionally on power purchases in May this year.
From June 2023, the KSEB has been collecting the surcharge through an automatic recovery mechanism as permitted by the Terms and Conditions for Determination of Tariff (first amendment) Regulations, 2023, issued by the State Electricity Regulatory Commission.
To avoid tariff shock, the commission has set 10 paise per unit as the maximum monthly surcharge amount that can be collected under the regulations.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

SEBI cracks whip on market manipulators
SEBI cracks whip on market manipulators

The Hindu

time3 hours ago

  • The Hindu

SEBI cracks whip on market manipulators

Securities and Exchange Board of India (SEBI) conducted search and seizure operations in connection with pump and dump schemes in June 2025, according to a statement on June 27. 'It is hereby clarified that SEBI has conducted search and seizure operations at multiple locations in the month of June 2025 in connection with pump and dump in certain scrips and has seized incriminating evidence. Investigation in the matter is under progress,' the markets regulator said in a statement. Over the past month, SEBI had pulled up two cases on front running and market manipulation. One of them was Sanjiv Bhasin, a research analyst at IIFL Securities who had manipulated stocks which he recommended on television channels and had profited off them. Major stocks like Interglobe Aviation (Indigo Airlines) were manipulated using unpublished price sensitive information. The other being a pump and dump scheme in which prices of Sadhana Broadcast Ltd. and a few other stocks were pumped up by promoters and others with the help of social media and sold to more than 100 investors, significant of them being actor Arshad Warsi. SEBI had served interim orders against both of them asking them to disgorge the amount they had benefitted from this and banned them from securities market as per regulations. Pump and dump scam refers to a scheme when people take a position in stocks which are mostly SME or illiquid stocks, create a hype by recommending them to investors. Once the price of the stocks are high, they would sell them and bag the profit, leaving the investors will losses. It is violation according to Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations of SEBI.

Kerala State Electricity Board to collect 6 paise per unit as fuel surcharge in July
Kerala State Electricity Board to collect 6 paise per unit as fuel surcharge in July

The Hindu

time5 hours ago

  • The Hindu

Kerala State Electricity Board to collect 6 paise per unit as fuel surcharge in July

The Kerala State Electricity Board (KSEB) will collect 6 paise per unit as fuel surcharge on electricity bills in July. The decision is applicable to customers under monthly and bi-monthly billing systems. The surcharge is aimed at recovering ₹15.75 crore spent additionally on power purchases in May this year. From June 2023, the KSEB has been collecting the surcharge through an automatic recovery mechanism as permitted by the Terms and Conditions for Determination of Tariff (first amendment) Regulations, 2023, issued by the State Electricity Regulatory Commission. To avoid tariff shock, the commission has set 10 paise per unit as the maximum monthly surcharge amount that can be collected under the regulations.

JSW Paints to acquire up to 75% stake in Akzo Nobel India for ₹9,446 crore
JSW Paints to acquire up to 75% stake in Akzo Nobel India for ₹9,446 crore

Time of India

time8 hours ago

  • Time of India

JSW Paints to acquire up to 75% stake in Akzo Nobel India for ₹9,446 crore

NEW DELHI: JSW Paints has entered into a definitive agreement to acquire up to 75% stake in Akzo Nobel India (ANIL), marking one of the biggest moves in India's decorative paints industry. The transaction, set through a share purchase agreement (SPA) dated June 27, 2025, involves the purchase of the entire promoter shareholding from Imperial Chemical Industries and Akzo Nobel Coatings International B.V. —the two holding companies owning a combined 74.76% in Akzo Nobel India. According to the SPA, JSW Paints has agreed to acquire up to 34,044,335 equity shares, representing approximately 74.76% of the total share capital of Akzo Nobel India, at a price of ₹2,762.05 per equity share. The total consideration for the acquisition, assuming full purchase of the promoter stake, amounts to ₹9,446.22 crore. The sellers—Imperial Chemical Industries Ltd and Akzo Nobel Coatings International B.V.—currently hold 22,977,544 shares (50.46%) and 11,066,791 shares (24.30%) in Akzo Nobel India respectively. As per regulatory requirements under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, JSW Paints will also be making a mandatory open offer to acquire an additional 26% stake from public shareholders. Upon completion of the SPA and open offer, JSW Paints may acquire control of up to 100% of Akzo Nobel India, subject to the level of public participation in the offer. Following the completion of the transaction, JSW Paints is expected to be reclassified as the promoter of the company, and the current promoters will be moved to the public shareholder category. Akzo Nobel India has informed the stock exchanges that Akzo Nobel N.V., the ultimate parent company of the sellers, intends to enter into certain transitional brand and intellectual property licensing arrangements with Akzo Nobel India. These arrangements will allow continued use of the Akzo Nobel brand and related IP in India for a defined period. These agreements will be executed prior to the closing of the transaction and shared with the stock exchanges in accordance with applicable regulatory norms. The deal follows Akzo Nobel N.V.'s strategic review of its South Asia decorative paints business, which was first disclosed in October 2024. During the period between signing and closure, both parties have agreed to certain interim obligations under a standstill undertaking, ensuring business continuity and adherence to agreed covenants. The net cash proceeds are expected to be approximately €900 million of which around €500 million will be used for deleveraging. Following closing, AkzoNobel intends to launch a €400 million share buyback program, said Akzo Nobel N.V. The India Powder Coatings business and International Research Center, both currently part of ANIL, will be retained by AkzoNobel under full ownership. This divestment is a first step in the strategic portfolio review announced in October 2024, aimed at focusing the company's capital and capabilities on leading positions in key global coatings markets, said the company. The transaction is expected to be completed in the fourth quarter of 2025. The proposed acquisition is one of the largest control deals in the Indian paints sector and will proceed through a combination of negotiated purchase and public open offer. Morgan Stanley acted as the exclusive financial advisor to JSW Paints on this transaction. Khaitan & Co. acted as the legal advisor. Deloitte acted as the financial and tax due diligence advisor.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store