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.
The winter session of Parliament will commence on November 26.
He recalled that the state was home to Vaishali, said to be the oldest republic in the world.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
The Ministry recently issued an order saying 'no authorisation from Petroleum and Natural Gas Regulatory Board is required for setting up of a CNG station.' PNGRB has been since 2009 issuing licences to entities for city gas distribution networks, essentially for retailing compressed natural gas to automobiles and piped cooking gas (piped natural gas or PNG) to households.
Side indices raced ahead with BSE Midcap and BSE Smallcap advancing 0.4% and 0.3% up, respectively.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
BG Exploration and Production India, a part of UK-based BG group and Reliance Industries, hold 30 per cent stake each in the field, while ONGC has a participating interest of 40 per cent.
India Gas Solutions Pvt Ltd -- the equal joint venture between the Mukesh Ambani-led firm and Europe's second largest oil firm - is among the three companies shortlisted by Gujarat government for giving out 25 per cent stake in the Mundra terminal.
Oil Minister M Veerappa Moily reviewed the progress on the ambitious 1,680-km project with Turkmenistan Minister for Oil and Gas Mukhammetnur Khalylov, who is in New Delhi to attend the eighth Asia Gas Partnership Summit.
Moody's Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to 'stable' from 'negative'. This follows the upgrade by the US-based rating agency in India's sovereign rating outlook to 'stable' from 'negative' on Tuesday. The agency had affirmed the sovereign rating at 'Baa3'.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
Cummins India will soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Phaltan in Satara district of Maharashtra, senior officials at Cummins India said. The firm will start limited production by the end of 2023 and mass production will likely begin by 2024, the officials said.
Overnight, the Wall Street closed on a flatter note.
The Centre-appointed committee on Saturday launched its probe into the Gas Authority of India Limited pipeline fire tragedy in East Godavari district of Andhra Pradesh that has claimed 16 lives.
Pakistan's demand for gas stands at 8 billion cubic feet while the current production is 4 billion cubic feet.
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.
State-owned Oil and Natural Gas Corp (ONGC) will add about Rs 8,000 crore (Rs 80 billion) to its profits annually from near doubling of natural gas prices from next fiscal.
Both the countries have increased prices of gas recently.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
The Centre has received Rs 6,651 crore as interim dividend from 12 public sector undertakings (PSUs) on Monday, edging towards its Rs 50,028 crore dividend target for the ongoing fiscal. Power Grid Corporation of India (PGCIL) has transferred Rs 2,506 crore as a dividend tranche to the government, while NMDC and Nuclear Power Corporation of India transferred interim dividend of Rs 1,605 crore and Rs 972 crore, respectively. The government has received dividend tranches of Rs 913 crore from GAIL, Rs 351 crore from Hindustan Aeronautics, Rs 149 crore from Bharat Electronics, among others, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted.
Ministry to propose a new subsidy mechanism to cap upstream firms' share.
Markets extended gains for the fourth consecutive day tracking gains in banks, capital goods and oil and gas majors.
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.
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
Market cap of government companies has remained unchanged in the past 8 years.
The department has proposed to pool prices of imported and domestically produced natural gas.
'I would not suggest buying these stocks in the dip, as the upside in profit is dented without a safety net for a rainy day.'
It calculated that the government should have got an additional profit share of $ 115.263 million.
Though ONGC and OIL are major producers of natural gas, they currently have no presence in its retailing and marketing, a field dominated by GAIL and its joint ventures.
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.
Market breadth is positive with 942 advances and 196 declines.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Gas Authority of India Ltd, the country's largest gas distributor, and Turkey's Botas Petroleum Pipeline Corp, will sign a pact to jointly build cross-country pipelines and gas retailing projects, India's junior oil minister said.\n\n\n\n
Gas Authority of India Ltd, which signed a memorandum of understanding with the state government recently, will spend Rs 2,000 crore (Rs 20 billion) this year to lay the pipeline, a senior company official said.
Draft prospectus for the upcoming mega public offers in public sector oil companies -- Gas Authority of India and Oil and Natural Gas Corp -- are expected to be filed with the Securities and Exchange Board of India
According to industry experts, the consumption of petroleum products in the month of April was only 30-40 per cent of what it had been prior to the lockdown. Due to this, refineries were forced to bring down their capacity too.
The company is pursuing the early scheduling of gas with the Centre to restart generation.
The Oil Industry Safety Directorate, under the Petroleum Ministry, carries out safety audits of oil and gas installations, besides formulating and standardising procedures and guidelines for design, operation and maintenance.
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, is likely to rise to record levels at the rate review scheduled this week, sources said. The government-dictated price for natural gas produced in the country is to be revised on October 1. After factoring in the spike in energy prices witnessed in recent months, the rate paid for gas produced from old fields such as of state-owned Oil and Natural Gas Corporation (ONGC) is likely to rise to $9 per million British thermal units from current $6.1.
