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The second of the three deep-water gas developments planned jointly, was expected to start production in mid-2021. RIL and BP have been developing R Cluster, Satellite Cluster and MJ in the KG-D6 block– which together are expected to produce around 30 mmscmd (1 billion cubic feet a day) of natural gas by 2023, meeting up to 15 percent of the country’s gas demand, said RIL in its exchange filing today. Despite Covid-19 challenges, the Satellite Cluster field has come onstream two months ahead of schedule, it said. The field is located about 60 km from the existing onshore terminal at Kakinada on the east coast of India in water depths of up to 1850 meters.
Read more about Market Ahead Podcast, April 22: Top factors that could guide markets today on Business Standard. Cyient, Tata Elxsi and 10 other companies will release their quarterly earnings on April 22
After kicking off the session on a gap-down note amid a record spike of over 3 lakh Covid-19 cases in the country, Indian markets bounced back in afternoon deals, as investors resorted to low-level buying encouraged by firm global cues and drop in US bond yields. The BSE barometer Sensex ended the session at 48,081, up 375 points, mainly led by strength in the banking and financial counters. The index, meanwhile, gyrated 939 points in intra-day trade today as volatility remained high on weekly f&o expiry. Its NSE counterpart Nifty closed the session 110 points higher at 14,406. On technical front, Nifty is expected to range between 14200 and 14500 levels, and it will be crucial for the short-term market scenario to break the zone, said Ashis Biswas, Head of Technical Research at CapitalVia Global Research.
Den Networks slips 11% on calling off merger with TV18 Broadcast business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.