A tough initial lockdown was imposed beginning March 25 but dreams of a V-shaped recovery after it was eased in May have been obliterated by a surge in cases and new lockdowns.
These refineries, commissioned mostly in the 1950s and 1960s during India's early industrialisation push, are inefficient and costly to maintain compared to their modern counterparts on the coast mainly operated by private companies.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
After Indian Oil Corporation, state-run Bharat Petroleum Corporation is planning to take over petrol stations in Sri Lanka, company chairman and managing director S Behuria said on Friday.
The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
We very much hope that wisdom dawns on the Chinese side, Jaishankar said in Bangkok.
A look at the deals in the past that made news, awed investors and probably gave management sleepless nights.
It will be Reliance Industries' gigantic gas find on the east coast versus the imported LNG offered by ONGC and Indian Oil Corporation in the tender for supply of gas to the 1400 MW power plant in Karnataka.
The acquisition of stake in Progress Energy Resources Corp for 1 billion Canadian dollars ($900 million) mark IOC's maiden entry into North America.
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 BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
Pharma shares extended losses after the government's ban on combination drugs.
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stock to last way beyond the three-week nationwide lockdown, as all plants and supply locations are fully operational, Indian Oil Corp (IOC) chairman Sanjiv Singh said.an Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite the loss of his father on the day the 21-day lockdown was declared, said there was no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.
'It has been doing yeoman service for the people of the North East.'
Automobile manufacturers said Euro-VI grade vehicles will not hit the roads before 2020 but the advancement gives them confidence to make investments in manufacturing such vehicles.
Indian Hockey Club, Canada squandered a 2-0 lead and were held by the army team in the Surjit hockey tournament.
Reva Electric Car Company and Hydrogenics Corp, a Canadian firm will develop hydrogen fuel cell cars. \n
Oil Ministry felt it did not have a clear mandate to reduce rates post the January 2013 decision of the Cabinet to raise prices by 40-50 paisa a litre every month.
Government is expected to rely more on divestment proceeds to keep the fiscal deficit in check
Defending champions Border Security Force were shocked by Corps of Signals in the Beighton Cup hockey tournament.
Both teams easily won their quarter-final league matches in the 109th Beighton Cup hockey tournament.
Petrol price has been cut by 58 paise a litre and diesel by 25 paise with effect from midnight tonight.
As tensions between the armies of India and China at the LAC show no sign of ebbing, both sides have significantly ramped up the presence of their troops.
Eight Indian companies, including Reliance Industries, Bharti Tele-ventures and software giants Infosys and Wipro have made it to the Forbes A-List featuring 400 most attractive companies for investors.
The revival of the phytosanitary protocol with China is expected to boost tobacco exports to China and prove economically beneficial to Indian farmers.
The loss, which is made good through government subsidy, has declined since March as the rupee strengthened against the dollar and global oil prices softened.
Government-owned companies are more generous in rewarding their shareholders with dividends.
The broader Nifty closed at 11,993.05, falling by 233.60 points, or 1.91 per cent. On the Sensex chart, Bajaj Finance was the top loser, dropping 4.63 per cent, followed by SBI, IndusInd Bank, Maruti, HDFC, Hero MotoCorp, Axis Bank, ICICI Bank and RIL
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The divestment department has lined up a host of companies.
The NSE Nifty ended 55.75 points, or 0.57 per cent, higher at 9,912.80 after moving between 9,925.75 and 9,882.
Govt seems to bullish to meet its disinvestment target in current fiscal.
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.
The acquisition of stake in Progress Energy Resources Corp's shale gas assets and Pacific NorthWest LNG for 1 billion Canadian dollars ($900 million) marks IOC's maiden entry into North America.
Reliance Industries edged past Oil and Natural Gas Corporation in morning deals on Thursday to become India's most valuable company with a market capitalisation of Rs 1,60,949 crore (Rs 1609. 49 billion).
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