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Magma Fincorp acquired 26% joint venture partner in August, 2017 and immediately thereafter it announced the merger. Before merger, it seems MITL have cleaned its book by providing NPAs and even booking substantial loss in FY17. At present both the companies are having low margins and high NPA's.

In January this year Iceland's National Energy Authority announced it had created the world's first magma-based geothermal energy system after drilling 1.3 miles through the earth's crust and hitting magma - only the second time magma has ever been reached. We find out how the project is progressing six months on and whether the project could be replicated anywhere else.