Oil firms' borrowings could fall by up to Rs 15,000 cr, govt's subsidy bill by 12% .
Reliance Industries Ltd, India's sole private sector refiner, on Monday sought Petroleum Minister Ram Naik's help in getting public sector oil companies to buy fuel from its 33 million tonne Jamnagar refinery in Gujarat.
With the rising price of crude oil, the gap between the desired selling price and the actual selling price -- referred to as under-recovery -- is up to Rs 190 crore (Rs 1.9 billion) a day. The solution is to raise retail prices, an unpopular move.
Markets extended losses to end 1.5% down on Tuesday, amid weak global cues, after investors turned cautious ahead of key economic data and booked profits in rate sensitive shares while the further fall in the rupee continued to weigh on investor sent.
IDS-2 and raids to uncover black money stash keep receipts flowing
'By holding forth on Swadeshi economics, Bhagwat is showing his intent to fight back,' says Shekhar Gupta.
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
State-owned oil firms have decided to "wait-and-watch" the international scenario and the rupee-dollar rate before deciding to cut petrol prices.
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
Advantages are not being leveraged fully mainly because of lack of funds, say experts.
Petroleum Minister Ram Naik has mooted sale of 12-15 per cent of government equity in oil refiner Indian Oil Corporation and exploration giant Oil and Natural Gas Corporation in the capital markets to shore-up state finances.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
The sharp fall in oil price is positive for oil marketers as subsidy concerns reduce further.
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
During the first round of discovered field auctions, there were 134 bidders for the 34 blocks on offer
More and more corporates are appreciating Mahatma Gandhi's books as gifts.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
Movement of rupee and crude oil prices will also dictate the trend
Essar Oil has decided to cut petrol and diesel prices in the range 50 paise to Rs 2.50 per litre effective from July 16.
The staggered increase in kerosene rate may not have the same impact of freeing up the fuel price as for diesel.
Hindustan Motors Limited, the first Indian car company, is planning to launch cars on its ambassador platform with sequential liquefied petroleum gaseous (LPG) injection systems in three months.
Oil Minister M Veerappa Moily has suggested pricking the ballooning oil bill with everything from a street theatre campaign encouraging lower fuel use, to shutting fuel stations, to increasing imports from Iran.
On October 31, the government exempted jet fuel from 5 per cent import duty. Indian Oil, Bharat Petroleum and Hindustan Petroleum cut jet fuel or aviation turbine fuel price from November 1 in Delhi by Rs 9,429.87 per kl to Rs 47,017.93 per kl, in line with fall in international oil prices.
To prevent rise in air pollution levels, oil marketing companies and thermal power units were planning to procure stubble from farmers to make bioethanol and promote the central government's 'Agricultural Mechanization' for crop residue management. But both have seen minimal success.
The largest car maker in the country Maruti Udyog has got the third highest number of votes on the index, says the global consultancy firm TNS' latest Corporate Reputation Index.
NDA's energy plan powered UP win, but it's not a winner yet. Centre has claimed to have saved money by targeted coverage but critics say the system is not yet foolproof.
The price of the Indian basket of crude oil touched an all-time high of $75.30 per barrel on Thursday, the latest day for which data are available, sending alarm bells ringing in the government.
The benchmark BSE Sensex ended down 2.23 per cent. The Bank Nifty fell 3.59 per cent.
'Oil companies like IOC, BPCL and HPCL have to set up world class systems where they are always two steps ahead of the crooks,' says Sudhir Bisht, a veteran of the petroleum industry.
'BPCL has always been spoken about as a multinational company though it is State-run... this sets our work culture also apart.'
After steep correction in valuations, these have turned attractive but upside will depend on diesel price rises and export-parity pricing.
State-run Bharat Petroleum Corp Ltd on Wednesday said it has tied up with Hindustan Lever Ltd and three other kitchenware brands for selling grocery items to its LPG customers through its distributor network.\n\n\n\n
The government has asked Supreme Court not to stay the privatisation of public sector oil majors -- Hindustan Petroleun Corporation and Bharat Petroleum Corporation
.jpg)
RBI's forex swap window for oil marketing companies addresses an urgent issue but what happens when the dollars have to be returned?
In all, 25 Chairman-cum-Managing Director (CMD) posts, 8 MD posts and 2 Chairman posts are lying vacant, according to a written reply by Minister of State for Heavy Industries and Public Enterprises P Radhakrishnan in the Lok Sabha.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances