The NSE Nifty ended at 4,449, up 112 points. The market breadth was positive - out of 2,852 stocks traded, 2,147 advanced while 649 declined.
For the second time in as many months, the Government on Wednesday night cut petrol price by Rs 5 a litre and diesel by Rs 2 per litre, while the domestic LPG rate was also slashed by as much as Rs 25 per cylinder.
Online booking started on February 18 but the site soon crashed.
The new candidates fielded from these constituencies by the BJP are: SP Singh Baghel (Agra), Parameshwar Lal Saini (Sambhal), Raj Kumar Chaher (Fatehpur Sikri), Jai Prakash Rawat (Hardoi-SC), Ashok Rawat (Misrikh-SC) and Arun Sagar (Shahjahanpur-SC).
The drop in international oil prices has resulted in revenue loss of Indian Oil, Bharat Petroleum and Hindustan Petroleum dip to Rs 400 crore per day from Rs 450 crore (Rs 4.5 billion) a fortnight back. The basket of crude oil India buys averaged $111.09 a barrel in the second fortnight of August as compared with $117.37 per barrel in the first fortnight of the month.
Amid rumblings in the Bharatiya Janata Party over Bihar poll rout and attack on its leadership by party veterans, Union Minister Nitin Gadkari on Wednesday strongly defended Prime Minister Narendra Modi and party President Amit Shah, saying they cannot be held responsible for the defeat.
In a relief to Murli Deora, the Election Commission on Tuesday gave him a clean chit, saying the Petroleum Minister did not violate the Model Code of Conduct when he referred to taking a decision on the fuel prices after assembly polls in six states.EC sources said that the Commission looked into the video clippings and found no substance in the complaint made against Deora.Deora came under attack last week for his remarks on fuel prices after the conclusion of assembly polls
In a six-page reply to the Election Commission's notice, Deora said he had not made any suo moto statement on price reduction and made those reported comments on being quizzed by the media on sidelines of a hydrocarbons conference in New Delhi. The commission on Wednesday sent a communication to Deora and the ministry's Secretary R S Pandey seeking their comments on complaints by BJP that the minister violated model code of conducts.
On the insistence of petroleum minister Murli Deora, Russian Prime Minister Vladimir Putin is sending Shmatko to attend the conference of energy ministers of the Commonwealth of Independent States that New Delhi is hosting on November 25-26.
Bharatiya Janata Party President Amit Shah has dissolved all its national cells pending their reconstitution and appointed Vijay Chauthaiwale as the new incharge of its foreign and Overseas Friends of BJP cell with immediate effect.
Petroleum Minister Murli Deora after a meeting with his Iranian counterpart Gholam Hosein Nozari for talks on the $7.5 billion Iran-Pakistan-India pipeline project said there were 'some minor problems' which have been sorted out.
As crude oil prices hover around four-year lows, the government may look at slashing diesel prices further that will help cool inflation by lowering goods transportation charges.
India has asked oil cartel Organization of the Petroleum Exporting Countries to raise crude oil production to stem the relentless rise in international oil prices that have threatened to derail import dependent economies such as India.
In what could be a Diwali gift for the common man, government on Thursday said in the Lok Sabha that an announcement on reduction of fuel prices will be made within a week, keeping in view the falling global crude prices.
The government on Tuesday clarified that no papers of sensitive nature were ever given to Mukesh Ambani-run RIL or its Canadian partner Niko Resources, and added they were provided only those papers needed to implement the decision on pricing of natural gas from their field.
Jet Airways, Kingfisher and NACIL, which operates Air India, owe over Rs 2,000 crore (Rs 20 billion) to the oil PSUs in unpaid fuel bills, Petroleum Minister Murli Deora said.
Adversity often brings out the best in companies, even state-owned ones. Faced with a bloated fuel bill, companies are busy devising new ways to control costs. These range from cut in travel to shift to cheaper fuels and even reduced recruitment. Power equipment maker Bharat Heavy Electricals Ltd has a brand new strategy in place -- it will set up onsite fabrication units rather than transport equipment over long distances.
The Bharatiya Janata Party has had many leaders who are wrestlers, teachers and Lodhs. Dara Singh, once nominated to the Rajya Sabha, is a wrestler; Dr Murli Manohar Joshi is a teacher; Uma Bharati used to be the party's best-known Lodh, a powerful middle-class caste in Uttar Pradesh and Madhya Pradesh. But the party had only one leader who represented all three: Kalyan Singh.
Union Petroleum Minister disclosed the decision on fuel prices will be taken on Jan 17, in the GoM meet.
A decision on raising retail fuel prices and partly compensating revenue losses of oil firms will be taken by Saturday (May 31), even as Prime Minister Manmohan Singh on Thursday assessed the problems caused by the spike in crude prices.
Dabhol is part of Ratnagiri Gas and Power Pvt Ltd.
The fall in international oil prices has resulted in handsome margins for state-owned firms on petrol and diesel sales, but not all of it would be reflected in the cut in the retail selling price, as Finance Ministry wants to take away some of the gain by raising excise duty.
India on Wednesday offered Qatar a 10 per cent stake in Petronet LNG Ltd to get the worlds largest liquefied natural gas exporter to sell 18 more LNG cargoes this year and agree on a long-term supply deal for meeting fuel needs of beleaguered Dabhol power plant.
Petroleum Minister Murli Deora on Saturday said the government is considering to prices of petroleum products in the next few days.
On December 5, the government had announced a Rs 5 per litre and Rs 2 a litre reduction in petrol and diesel prices, respectively, as global crude prices hovered around four year lows.
India's Petroleum Minister Murli Deora and his Pakistani counterpart Khwaja Asif said they had made "significant progress" in bilateral talks on the India-Pakistan-Iran gas pipeline and were determined to go ahead with it despite reported reservations of the US on the project. They said the two sides had reached a broad agreement on principles for deciding the transportation tariff and transit fee, two key issues that had held up the finalisation of the 2,600-km pipeline.
Murli Deora, Minister for Petroleum and Natural Gas, will be leaving for Pakistan on Tuesday. India and Pakistan's relation will get unprecedented boost if talks on Turkmenistan-Afghanistan-Pakistan-India natural gas project proceeds on a fast track, said a high-level source in the Indian Ministry of Petroleum and Natural Gas. The biggest issue in realising the TAPI pipeline project is the issue of security through Afghanistan.
A MP said that the PM has made it clear that we have been given mandate to work hard but not to enjoy
In first clear indications of a further reduction in petrol and diesel prices, Petroleum Minister Murli Deora on Monday said the government was considering passing on the benefit of the fall in international crude oil prices to consumers.
Finance Minister P Chidambaram said Inflation control measures like sucking excess money out of the economy and the robust GDP growth cannot go hand in hand. Tightening of money supply would impact growth. The RBI is due to announce the annual credit policy on April 29 and economists are expecting hike in the CRR in the wake of inflation touching a three-year high of 7.41 per cent, bringing the government under political and public pressure.
Deora's visit assumes importance in view of Musharraf's proposals to China and China's quest for shorter, safer and commercially viable routes for importing gas and oil.
India on Monday said it will meet Pakistan next week to resolve issues, such as transit fee, impeding progress on the over $7 billion Iran-Pakistan-India gas pipeline project, even as it gets formally inducted in a rival line from Turkmenistan.
On the first day of winter session, Prime Minister Narendra Modi reached out to the Opposition.
Kerosene and domestic LPG prices in India are the lowest in South Asia, while the rates for petrol and diesel are comparable with its neighbours, petroleum minister Murli Deora said on Thursday. Kerosene in Pakistan costs Rs 34.89 a litre, Rs 30.53 in Bangladesh, Rs 21.26 in Sri Lanka and Rs 34.35 per litre in Nepal.
The Energy Co-ordination Committee, headed by Prime Minister Manmohan Singh, would meet on Tuesday with gas pricing, gas sourcing and gas allocation as the main topics on the agenda, an official source said.
India has put in place a multi-pronged strategy, including faster exploration and acquisition of oil fields abroad, to secure energy at affordable rates, Petroleum Minister Murli Deora said.
India, which imports 73 per cent of its oil needs, has been hit by the surge in international crude oil prices that touched $96 a barrel last week. State-run fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum are currently losing Rs 240 crore (Rs 2.4 billion) per day on selling petrol, diesel, domestic LPG and PDS kerosene as the government has not allowed them to raise retail prices in line with the surge in cost.
The government has cut petrol price by Rs 5 and diesel by 2 a litre with effect from midnight tonight.
The government will cut petrol and diesel prices after Assembly elections are over on December 24, Petroleum Minister Murli Deora said on Tuesday.
Alberto Contador will cement his status as the best grand tour rider of the modern era if he emerges as the winner of the Big Four's battle royale at the Tour de France -- the most highly anticipated race in decades.
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