Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
Majority of PLL's long-term deals are linked to crude, which faces price challenge from other fuels. Spot LNG is moving away from this linkage, which puts a question mark on crude linked contracts.
Cairn India is 25th on the list with 22.2 per cent CGR.
Overnight, the Wall Street closed on a flatter note.
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
The government is considering selling Dabhol Power Plant's LNG terminal after hiving it off from the electricity generating unit, due to delays in completion of unfinished part of the terminal and huge cost-overruns, a power ministry official said.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
Ratnagiri Gas and Power Pvt Ltd, the NTPC-GAIL joint venture that runs the Dabhol power plant, may have to shut down the project by end of this month due to fuel scarcity.
The government is mulling hiving off ONGC Videsh Ltd, India's flagship firm for overseas oil asset acquisition, from Oil and Natural Gas Corp into a separate entity to be owned jointly by public sector oil firms.
The petroleum ministry is likely to advocate allowing its public sector units like ONGC to bid for acquiring management control in oil refiner HPCL, which the government on Monday said would be put on the block.\n\n
IOC is building a 5 million tonnes per annum LNG terminal at Ennore near Chennai which is to be completed by 2017.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
A deal with the Assam government, which holds majority stake in the company through Assam Industrial Development Corporation Ltd, is likely by October.
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
Ratnagiri Gas & Power Pvt Ltd, in charge of Dabhol assets since 2005, has admitted it is passing through a difficult phase in the absence of gas allocation and low recovery of dues from the Maharashtra State Electricity Distribution Company.
The 1,967 MW plant has not been operating since August because of stoppage of natural gas supplies from domestic fields.
The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy. Here are his replies to some of the 'buy, sell, hold, avoid or exit?' e-mails that we have received.
BP and Reliance Industries Ltd are leading the race to pick up a 25 per cent stake in Gujarat State Petronet Corporation and the Adani group's five million tonnes per annum liquefied natural gas terminal at Mundra.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
The company is pursuing the early scheduling of gas with the Centre to restart generation.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
Delhi, reeling under high temperatures and an acute electricity shortage, will get additional gas supplies from the National Thermal Power Corporation and Dabhol to increase power generation and help meet demand in the national capital.
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RIL had objected to the state government's decision to receive bids in sealed envelopes instead of an open auction.
Violent protests broke out on Wednesday in several areas in the national capital against power cuts which continued to make life difficult for people in the sweltering heat on a day the city recorded the highest electricity demand in the current year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It calculated that the government should have got an additional profit share of $ 115.263 million.
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
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With Oil Ministry continuing to be opposed to selling IOC shares on stock market like other disinvestments, an Empowered Group of Ministers headed by Finance Minister P Chidambaram today decided to sell 24.27 crore shares or 10 per cent government stake in the company to Oil and Natural Gas Corporation and Oil India Ltd.
