Asian shares ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election.
The government on Wednesday admitted that it would be difficult to realise the targeted Rs 13,200 crore from divestment due to serious constraints arising as a fallout of Supreme Court's judgement on HPCL and BPCL selloff.
The government is studying the impact of Supreme Court verdict in HPCL-BPCL case on the divestment process of Shipping Corporation of India in which some companies were merged through an Act of Parliament or by way of ordinance.
Consequent to the Supreme Court's verdict on HPCL, BPCL divestment the government is understood to have halted the sale of its residual equity in privatised companies like Videsh Sanchar Nigam, IBP and IPCL.
Bharat Sanchar Nigam Ltd Employees Union on Friday extended support to the proposed indefinite strike of employees of public sector oil companies against privatisation of HPCL and BPCL.
'At the best, government can go in for a review,' Attorney General Soli Sorabjee said about the Supreme Court verdict stalling the divestment of HPCL and BPCL.
Over 7.24 lakh displaced people have been sheltered in 5,645 relief camps dotting the state, they said.
The Indian government has lifted the ban on setting up of petrol pumps and cooking gas agencies by allowing state-run oil firms to appoint dealers on their own.
The banned cricketer will play for his employers Bharat Petroleum Corporation in the 24th PSPB inter-unit cricket tournament.
What are the implications of the new players coming into the retail segment on existing companies like BPCL, HPCL and IOC? \n\n\n\n
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
Ashok Shandilya of India suffered a shock defeat against Aung San Oo of Myanmar in a thrilling tie.
The government had last year excluded those with an annual income of more than Rs 10 lakh from LPG subsidy
Telecom monolith Bharat Sanchar Nigam Limited is the top profit-making public sector unit, while steel giant Steel Authority of India Limited had the dubious distinction of topping the list of loss making state-owned enterprises.
The government on Wednesday ruled out privatisation of Indian Oil, Oil and Natural Gas Corporation and Gas Authority of India Ltd and assured all security concerns would be taken care of while divesting public sector oil
IMF chief Horst Kohler, who is in Dubai to World Bank Group and IMF meetings, did not comment on the issue of BPCL and HPCL divestment.
Divestment Minister Arun Shourie on Tuesday said that the opinion of the law ministry and the Attorney General will be taken on Supreme Court ruling staying privatisation of HPCL and BPCL, which he described as a 'major setback' to reforms.
Oil firms will supply fuel to SpiceJet on 'cash and carry basis'.
The plan to merge big PSU oil firms can help India attain oil security and provide strong competition to global majors, who now plan to enter India.
Making a strong case for increasing prices of petrol and diesel, the government on Tuesday said cash loss of four major oil companies was alarming at a whopping Rs 1516 crore (Rs 15.16 billion) in a single month of July this year due to steep rise of
Although the future of Direct Benefits Transfer (DBT) on liquefied petroleum gas (LPG) is uncertain for now, the upcoming vote-on-account is likely to account for about Rs 1,300 crore that was transferred to the bank accounts of customers in the form of subsidy.
Petrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.
Reliance Industries is seeking about Rs 400 crore (Rs 4 billion) from state-owned oil retailers in unrealised amount on liquefied petroleum gas and kerosene, it sells to them.
A fire broke out because of a suspected leakage in an oil pipeline passing through a land owned by the Mumbai Port Trust in Wadala in central Mumbai, but no one was injured.
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
The NSE Nifty cracked below the 10,800-mark to hit a low of 10,753.05 intra-day, before closing at 10,762.45 with a loss of 59.40 points, or 0.55 per cent.
The Cabinet Committee on Divestment is likely to meet on Sunday to consider various issues relating to the privatisation of HPCL and BPCL, following a favourable opinion given by Attorney General Soli Sorabjee.
A day ahead of a crucial meeting of the Cabinet Committee on Divestment, Defence Minister George Fernandes said he favoured public sector units like Oil and Natural Gas Corporation to be allowed to bid for HPCL.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
The other semi-final in the Shastri hockey tournament will be between Indian Oil and BPCL.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
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