The provision in the new mining bill approved by a group of ministers last week for 26 per cent profit sharing by mining companies with affected residents of the area they operate in hasn't been welcomed by many in the sector.
Arcil acquires non-performing loans from banks and financial institutions along with the underlying securities mortgaged or hypothecated by borrowers to the lenders.
In what could lead to an overhaul of policy, the Union government is looking at a new sugar subsidy mechanism as part of its decontrol proposal. It plans to rope in state governments for the purchase and distribution of sugar to below-poverty-line consumers at market prices.
After briefly maintaining prices at par with public sector oil marketing companies following the June 25 price hike, private fuel retailers Essar Oil and Reliance Industries are selling petrol and diesel at a premium of Rs 0.50 to 2.50 per litre in some states.
Akula may be much celebrated, but he is not alone. There are dozens of MFI success stories, all of whom have surfaced over the last five-seven years, with a common mandate to "eradicate poverty", profitably. With a turnaround time for MFIs at one or two years, competition among the top few MFIs is intensifying to attract equity investments. Interestingly, with barely 15 per cent of rural households currently MFI borrowers, there is sufficient leeway for growth.
GAIL India chairman and managing director B C Tripathi said the availability and possibility of gas has changed with the change in government policy.
The government has told Cairn Energy that its deal with Anil Agarwal-promoted Vedanta Resources will go through only after a formal proposal to the government is made and all clearances are obtained.
The government-owned Oil and Natural Gas Corporation, Cairn India's partner in the Barmer block in Rajasthan, is closely scrutinising the stake sale in Cairn India by Cairn Energy.
Technical bids opened today for Mallavaram-Vijaipur line, winner in three weeks.
In an interview with Ajay Modi & Jyoti Mukul, ONGC chairman R S Sharma says uncertainties continue in the business even after decontrol of petrol prices.
Shell India, the domestic arm of Royal Dutch Shell Plc, had offered for sale 20 of its 80 operational retail outlets and around 20 sites acquired earlier for setting up such outlets.
Share prices of both upstream and downstream public sector oil companies fell up to two per cent on Monday. Even Essar Oil, a private fuel retailer, fell 1.50 per cent on the Bombay Stock Exchange.
In the last two years, several Indian companies have ventured into Singapore by acquiring small and medium companies at low prices.
Even as India's annual inflation rate touched 10.16 per cent in May, Finance Minister Pranab Mukherjee on Monday ruled out the possibility of interest rates rising in the short term. He said he expected inflation to be on the higher side till the middle of July.
Infrastructure conglomerate Lanco Group and leading financial services firm Edelweiss Capital have emerged frontrunners in the race for Axis Bank's private equity arm. According to two people familiar with the developments, Lanco and Edelweiss have made the most aggressive financial bids among all the non-binding ones that have come in so far. The bids, they said, were in the range of Rs 30-45 crore.
Interestingly, KMC for the last five-six years, had been earning money by selling land to developers in prime locations through the bidding process.
The sustained decline in the price of crude oil has reversed the trend in petroleum product pricing. Private retailers are looking to cut prices from next month, while public sector oil companies have shaved their losses on retail sale of petrol and diesel by more than half.
A price of $4.20 per million British thermal units is not viable for smaller gas discoveries, say industry experts.
The subsidy burden of upstream oil companies, Oil and Natural Gas Corporation and Oil India Ltd, have risen 42 per cent in a single quarter.
Rural retail was supposed to cash in on the prosperity of Bharat, but the storyline hasn't really gone the way big corporate houses had hoped.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances