The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
Chinese stock markets suffered their biggest single-day drop since the global financial crisis.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
With the rupee continuing to remain weak against the US dollar, losses on diesel have climbed to Rs 9.45 per litre, upsetting the government's subsidy maths.
The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
For BCPL's branded petrol, Speed, the price differential with regular petrol is now between Rs 2.74 and Rs 3.75 per litre.
Gains were led by Tata Motors on robust Q1 earnings and HDFC Group shares.
The government on Thursday sanctioned Rs 17,772 crore (Rs 177.72 billion) cash subsidy to fuel retailers like IOC to cover for half of the revenues they lost on selling diesel and cooking fuels below cost in the September quarter.
Making sense of the international crude market is incredibly hard.
.jpg)
The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
US, China and Japan have no quotas for women and have had the lowest increase in female directors.
Inclusive of the July hike of 25 paise, a monthly increase of similar amount would result in a saving of Rs 2.25 a litre for the current financial year alone.
Life Insurance Corporation of India has over Rs 7,000 crore in tax demand pending against it, the biggest across various categories.
The 30-share Sensex ended down 538 points at 26,781 and 50-share Nifty ended down 152 points at 8,067.
The government allocated Rs 650 billion for petroleum subsidies in FY14, of which Rs 450 billion was used to pay oil marketing companies for the subsidy gap incurred in the previous financial year.
Sports Minister Jitendra Singh responded to his senior colleague in the government Veerappa Moily's letter to him in connection with Jwala Gutta's ongoing impasse with the BAI, saying that he will examine her case and see how he can extend support to her.
Indian basket at 6-month low of $49.11 a bbl
Pharma shares extended losses after the government's ban on combination drugs.
Dealers are not happy with the company's latest retailing policy and decided not to re-open their pumps.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
10 central trade unions have called a nationwide shutdown against 'anti-worker policies' of the central government. Apart from being successful in Bengal, Kerala and NE states, the bandh has also got support from Cong leader Rahul Gandhi and Shiv Sena in Maharashtra.
These firms offer job security and lucrative salries.
Markets ended in green on rate cut hope.
Markets crashed due to domestic worries; bluechip stocks tanked too.
ONGC Videsh Ltd and Oil India Ltd will buy Videocon Industries' 10 per cent stake in a giant Mozambique gas field for $2.475 billion.
Oil imports are a third of India's total import bill.
Nifty 50 firms' net profit estimated to grow by a modest 3.1% in Q2, reports Krishna Kant.
#GiveItUp but no matching LPG connections for BPL
Govt diverts Rs 253-crore subsidy savings to the poor.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
ONGC is raising debt for a spate of acquisitions over the past year
Analysts are enthused by BPCL's upstream foray and have re-rated the stock in the past couple of years.
The latest round of petrol and diesel price increase, on Thursday, met with opposition from many corners.
According to estimates, if the companies are not allowed to raise petrol rates at least Rs 5 a litre by the first fortnight of September, they might begin to suffer underrecoveries on this decontrolled auto fuel, too -- for the first time this financial year.
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
Most analysts expect growth in the sales of Nifty-50 companies to decelerate, albeit marginally, in the quarter ended December compared to the corresponding period of 2013-14, with metals and real estate companies pulling down earnings.
I admire Kejriwal's intelligence but pity the fact that he had to use all the ingenuity and scheming to achieve his revenue enhancement goal, says Sudhir Bisht.
