RIL and its partners BP plc of UK and Canada's Niko Resources have spud the seventh well on the MA oil and gas field in the KG-DWN-98/3 or KG-D6 block in Krishna Godavari basin.
RIL has denied knowingly producing any gas from the ONGC block
Hike would have led to higher cost of fertiliser, electricity and even CNG.
Food prices are also expected to move up due to the poor monsoons.
India expects to remain unscathed this time, mainly because it is in a sweet spot as the world's third largest oil consumer, after the US and China, says Subhomoy Bhattacharjee.
The move is likely to force the government to take a faster decision.
TCS kicked-off the Q1FY17 earnings season for information technology companies on Thursday.
This was the near-unanimous replies of 10 market participants.
The company will invest $747 mn to increase production from D1, D3 and MA fields.
The sharp fall in rupee since the beginning of May will make things difficult for the central bank which is on the path of easing the monetary policy to revive growth.
Slow credit off-take to put pressure on margins
Reliance Industries Ltd (RIL) has refuted the allegation in the Supreme Court that it is deliberately reducing production of gas in KG basin in anticipation of a higher gas price and said it has taken all steps for arbitration proceedings with Centre to sort out all disputes.
Santosh Koli, a close aide of Arvind Kejriwal and Aam Aadmi Party candidate for Delhi polls who was critically injured in an accident, died on Wednesday in a Gurgaon hospital after battling for life for 37 days.
A gradual increase works best for the US, as well as global markets, says Nizam Idris managing director, head of strategy (fixed income and currencies), Macquarie Bank.
Reliance Industries would repair a third of the wells shut at its main gas field in the eastern offshore KG-D6 block to boost output in the first quarter of 2014.
RIL may go to arbitration which may lead to further delay in production and extra cost associated with the arbitration.
The government had allowed companies in February last year to launch probe missions to find more oil and gas within already-producing areas.
Any government aid to the airline will ultimately hurt the economy
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The 25-year production sharing contract, however, ends in 2029.
RIL produced a total of 13.58 mmscmd of gas from Dhirubhai-1 and 3 gas fields and MA oil and gas field in the KG-DWN-98/3 or KG-D6 block in Bay of Bengal in the first week of February, which rose to 13.63 mmscmd in the following week.
The Directorate General of Hydrocarbons last month recommended to the Oil Ministry that $792 million of the cost RIL has incurred in KG-D6 fields be disallowed for producing only an average of 26.07 million cubic meters per day of gas as against the target of 86.73 mmcmd in 2012-13.
A round-up of Ranji matches played on Friday
The 30-share Sensex ended down by 59 points at 27,027 and the 50-share Nifty slipped 7 points at 8,087.
Sharp swings likely in equity, forex and bond markets.
There's need to address growth, but weak rupee putting pressure on prices.
The Cabinet on Thursday decided to allow Reliance Industries to almost double the price of natural gas from April provided the firm gave a bank guarantee to cover its liability if gas-hoarding charges are proved.
The RIL stock has halved from an all-time high of Rs 1,626 made (intra-day) on January 15, 2008, to on Wednesday's closing figure of Rs 800.55.
The arbitration clause is present in almost 95 per cent of corporate agreements, according to tax and audit firm Ernst & Young.
It reported a loss of Rs 36 crore (Rs 360 million), the first such negative result in 10 years.
The RBI cut rates for third time in 2015 due to favourable economic conditions.
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
Banks have taken this aggressive posture even as liquidity has become comfortable on the back of increased government spending.
The UK has responded to PM Modi's call to 'Make in India' by launching great collaborations in January 2015.
My goal is to implement the Sevak project all over India and make the villages true Gandhian villages -- self sustainable in every way, including health, says Dr Thakor Patel, head of the American Association of Physician of Indian Origin's Public Health Committee. Aziz Haniffa reports
A look at the top tweets from your favourite Bollywood celebrities.
Did you know that lower back problem could lead to kidney ailment? Or that leg pain and swelling feet could lead to heart problem? Or that hand pain and neck distress is related to your spine? Shameem Akthar finds out more about such tell-tale symptoms.
Traders have all but given up attempting to predict where the new-year rout will end
Prime Minister Narendra Modi on Thursday paid a surprise visit to Siachen to celebrate Diwali with soldiers posted at the world's highest battlefield and hailed the role of the armed forces in securing the country.
Business opportunity after phased diesel deregulation the main trigger.
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