Steel manufacturers on Wednesday hit out at 'unilateral' decision of the Oil Ministry to curb natural gas supplies from Reliance Industries' KG-D6 fields to non-core users, saying only a ministerial panel was empowered to take such decision.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
RIL shares attracted good buying support in a bullish market and closed up by 4.80 per cent at Rs 754.05 a piece on the Bombay Stock Exchange.
The change in ownership is expected to give a fresh lease of life to the company that has often been dragged by financial stress in its close to three-decade journey under the Khaitans, reports Ishita Ayan Dutt.
There is no word yet on the progress of rescue operations for the accommodation barge SS-3 and the Sagar Bhushan oil rig.
Pharma shares extended losses after the government's ban on combination drugs.
The better-than-estimated quarterly profit came on the back of rise in earnings from turning crude oil into petrol, diesel and other petroleum products.
Even if the Paytm fiasco does not mark the end of the bull run, at least some sanity will return to the wild IPO market, observes Debashis Basu.
'To keep the next catastrophe at bay, a carbon free economy will be an imperative. 'Our 2000 cc internal combustion engine powered personal cars and public transport may have to give way to electric and hydrogen powered fuel cells. 'The oil refineries which were so much part of my professional life may have to be dismantled and trees planted in its place. 'The smokestacks, which once upon a time represented growth and prosperity, will now be gory symbols of a polluting past,' notes former Hindustan Petroleum chairman Arun Balakrishnan.
The total income of the company rose by 18.87% to Rs 87,477 cr.
RIL president and CEO (Oil and Gas) PMS Prasad, who met petroleum ministry officials to discuss under capacity production from the company's KG basin fields, said: "We have time till July 15 to decide. . . we are still evaluating our options."
The BSE mid-cap Index will include shares of Allied Digital Services, Cals Refineries, Century Plyboards, Gammon Infra, Hindustan Oil Exploration, Indiabulls Securities, Jai Balaji Industries, Jet Airways, Jindal Drilling, Puravankara Projects, Rain Commodities, S Kumars Nationwide, Shriram City Union Finance, Thermax and Thomas Cook India.
In another match in the Bombay Gold Cup, Prabhjot Singh's brace gave IOC a 2-1 win over Karnataka XI.
RIL will initially start gas production from eight wells, with an initial output likely to be 5 mmscmd (million standard cubic metres) per day. Bombay high court had last week allowed Reliance to sell gas from KG-D6 at $4.20 per million British thermal units in accordance with the government's gas utilisation policy, which gives priority to fertiliser units followed by existing power plants.
The country's most valued company Reliance Industries on Thursday reported 6.41 per cent drop in its stand-alone profit at Rs 3,852 crore (Rs 38.52 billion) for the second quarter of the current fiscal.The total income rose 5.88 per cent to Rs 47,476 crore (Rs 474.76 billion) during the quarter from Rs 44,839 crore (Rs 448.39 billion) in the corresponding period a year ago, RIL said in a filing to the Bombay Stock Exchange.
Reliance Industries along with US oil major Chevron on Wednesday announced signing of an agreement for purchase of 5 per cent equity of Reliance Petroleum Ltd for $300 million
'I knew that since I would be designing for Sanjay Leela Bhansali's film, the aesthetics would have to be correct.' 'He doesn't show poverty in his films.' 'He won't show someone standing on the streets in phate hue kapde.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Pointing out that government borrowings would be less than what was projected for the current fiscal, Union Finance Minister P Chidambaram on Tuesday said that there was pressure on inflation due to rising oil prices and money supply.
For India's upstream sector that has seen no new discovery coming into production.
Oil and Natural Gas Corporation on Tuesday crossed the 2 lakh crore (Rs 2 trillion-) -mark in terms of market capitalisation, with its scrip touching a 52-week high of Rs 1,422 at the Bombay Stock Exchange.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Reliance Industries Limited toppled Oil and Natural Gas Corporation on Thursday to grab the numero uno position with a market capitalisation of over Rs 1,96,000 crore (Rs 1.96 trillion) as against ONGC's Rs 1,93,653.29 crore (Rs 1.93 trillion).
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
The dashing India forward scored three goals in a 4-0 win over CISF in the Bombay Gold Cup hockey tournament.
the Sensex lost 23 points to close at 28,185 levels and the Nifty shed 7 points to end at 8,515 mark.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Asian shares ended higher after a string of positive US economic data.
NuPower will return loan with interest to consumer durables major by 2021
Ends the August F&O series on a high tracking gains in RIL, HDFC and ITC.
The cumulative m-cap of the companies listed on the BSE soared to a new peak of Rs 82,02,907 crore at 1200 hours.
Investors have turned cautious ahead of the policy meetings of central banks in Japan and the US
The Nifty50 slipped 33 points to close the session at 8,509 after hitting an intra-day high of 8,587.
Markets ended their lowest close in 2015 on fears of FII outflows as the US Fed may hike rates.
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