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.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
'Our country does not need an NRC. We need to improve our economy which is in a bad condition.'
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
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
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.
Oil firms will supply fuel to SpiceJet on 'cash and carry basis'.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Over 7.24 lakh displaced people have been sheltered in 5,645 relief camps dotting the state, they said.
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.
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.
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 government had last year excluded those with an annual income of more than Rs 10 lakh from LPG subsidy
Petrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.
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 other semi-final in the Shastri hockey tournament will be between Indian Oil and BPCL.
The State-run Oil India Ltd will raise its stake in Numaligarh Refinery Ltd to 26 per cent to strengthen its position as an integrated oil company.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
The Divestment Ministry is moving fast to restart the sell-off process and go ahead with divestment in oil PSUs -- HPCL and BPCL.\n\n\n\n
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.
As the Sensex continued with its record-breaking show, over 750 stocks hit one-year high levels on the Bombay Stock Exchange on Friday.
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
The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
Petrol price was cut by Rs 2.43 per litre and diesel by Rs 3.60 a litre, the third reduction in rates this month.
Jet fuel (ATF) rates were on slashed by a steep 12.5 per cent, the sixth straight reduction in prices since August, as international oil prices slumped to five-year low levels.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
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