India imports 73 per cent of its crude oil import needs and the cost of imports would spiral after crude inched closer to a record $125 per barrel, while rupee touched its 13-month low, official sources said. The basket of crude oil India imports was at $120.65 per barrel on Thursday, a 91 per cent jump over the last fiscal's lowest price of 62.91 dollars recorded on May 9, 2007, official sources said.
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
The decision is likely to bring additional amount of about Rs 1,500 crore or Rs 15 billion (including interest) in the books of MTNL as refund from government for the pension that the PSU paid to its employees.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
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