Labour unions on Monday threatened to go on a lightning strike the day government invited bids for privatising highly profitable oil public sector units HPCL and BPCL.\n\n\n\n
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
The government on Friday awarded 20 oil and gas blocks for exploration and production -- 14 of which went to Oil and Natural Gas Corporation and partners.
The Sensex opened on a positive note and is up 9 points at 5,074. The Nifty is up 3 points at
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
The Sensex ended eight points lower at 5,195. The Nifty closed at 1,631 - down 8 points.
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.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Oil firms will supply fuel to SpiceJet on 'cash and carry basis'.
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.
The inclusion of Tata Consultancy Services in the BSE Sensex from June may act as a drag on it in the same way as it dampened movement in the Nifty since April 19, when the company announced its disappointing Q4 results.
Divestment Minister Arun Shourie on Thursday declined to comment on reports that Indian companies would be kept out of bidding in the divestment process relating to public sector oil companies.
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
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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.
The Sensex opened marginally higher with a gain of two points at 5,566.
Petrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.
The government had last year excluded those with an annual income of more than Rs 10 lakh from LPG subsidy
Heavy selling towards the closing bell saw the Sensex end with a huge loss of a per cent (64 points) at 5,962.
The Sensex commenced on a positive note with a gain of 11 points at 4,393.
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
Lacklustre trading in PSUs and select heavyweight and tech counters saw the Sensex remain subdued throughout the trading session, and finally finish with a loss of 15 points at 3,554.
The BSE Sensex opened with a positive gap of 10 points at 5,179. Fresh buying in the markets led the index spurt to a high of 5,204. The index is now at 5,195, up 26 points. The Nifty is up 7 points at 1,634.
The indices are moving in a narrow band. The Sensex is currently at 5183, up 13 points, while the Nifty is unchanged at 1632.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
India plans to complete by 2006 a 180,000-bpd refinery, which has been under a cloud because of the proposed privatisation of the company that is building it, Oil Minister Ram Naik
The Sensex opened with a positive gap of 29 points at 6,183, but shed gains on profit-taking in select counters. After moving in a narrow band and dipping to a low of 6,141 in noon deals
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.
The Sensex has moved up 58 points to 4,946. The Nifty also has stretched its gains by 15 points to 1,571.
The Sensex added 20 points to 6,017, and the Nifty finished at 1,890 - up 11 points.
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