Companies in the small-cap universe are having a dream run - the Nifty Smallcap 100 index has shot up more than 25 per cent on a year-to-date basis, even as the benchmark Nifty is up 7 per cent. This is the best start for the index since 2017 when the Nifty Smallcap 100 index surged 32.3 per cent between January 1 and May 10. However, in terms of outperformance to the Nifty, this year's performance is the best in more than a decade. A combination of sectoral tailwinds and lack of institutional selling pressure has helped small companies escape from the correction triggered by the second wave of Covid-19.
The two firms are discussing bidding jointly for CGD projects in cities that would be put on offer by the sector regulator, Petroleum and Natural Gas Regulatory Board in the future.
The group will be in a better position to now scale up most of its segments irrespective of government policy, but the bad news others add is its growing debt.
Policy air bubbles and implementation snags could block plans to connect India's cities to a clean fuel grid.
Reliance Industries Ltd plans to invest over Rs 5,000 crore in setting up City Gas Distribution projects in eight cities in Maharashtra and Andhra Pradesh for supply of natural gas to households, industries and automobiles.
The cost of CNG, which will be reduced by up to Rs 15 per kg in the next few days following a rejig in natural gas allocation, will go up by Rs 10.6 a kg in April, when domestic gas prices almost double.
Modi said the push towards a gas-based economy where the share of environment-friendly fuel in the energy basket will be increased from 6.2 per cent to 15 per cent by 2030, will create lakhs of jobs and help meet India's COP-21 commitment of cutting emission intensity by 33-35 per cent.
Govt bosses in no hurry to exit from PSUs; many agencies, long process likely hurdles.
Jaitley did not say if it will be an outright sale or partial divestment.
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
Re-instatement of 5% custom duty on crude imports will help.
ADB's calculations imply almost half of India's population (47.7 per cent) was below the line in 2010. Both these estimates are based on the year 2005's purchasing power parity rates.
Doubts over implementation of a Cabinet-approved strategic sale policy are puzzling.
