This is the third reduction in rates this month
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India, which is 79 per cent dependent on imports to meet its crude oil needs, is building underground storage at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka.
The low global crude prices have helped narrow the current account deficit to just 0.2 per cent of GDP in the previous January-March quarter.
Financials were the top losers while oil shares also declined amid weak crude oil prices.
The rupee was also pressured as the euro fell for a second day on Friday, hurt by the European Central Bank's surprise interest rate cut and a downgrade to France's credit rating, while the dollar inched up before a key US jobs report.
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
ONGC is raising debt for a spate of acquisitions over the past year
Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
We very much hope that wisdom dawns on the Chinese side, Jaishankar said in Bangkok.
Traders have all but given up attempting to predict where the new-year rout will end
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
OVL had bid for two of the 10 shallow-water blocks that Myanmar had auctioned in December but drew a blank when the fields were awarded on March 26.
Reliance Industries Ltd, the country's largest company by revenues, profits and market value, has topped Indian corporate in the World's Best Employers rankings 2021 published by Forbes. Reliance was placed at 52 in the overall ranking of 750 global corporates likes Phillips, Sanofi, Pfizer and Intel. Other Indian names in the top 100 rankings were ICICI Bank at 65, HDFC Bank at 77 and HCL Technologies at 90, according to the Forbes ranking.
Petrol currently costs Rs 72.51 per litre in Delhi.
While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
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.
Jet fuel or ATF prices were on Thursday were cut by a steep 4.5 per cent, the first reduction in rates in six months.
With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month.
India Inc could be embarking upon a new phase of capital expenditure (capex) cycle, observed analysts, and suggest its revival would lead to a rerating of industrial stocks. Assisted by a property upcycle, analysts at Jefferies said several government initiatives were likely to drive capex. Indicators, they said, include a private project announcement at Rs 25 trillion for 2022-23 (up 150 per cent from pre-pandemic levels) and credit growth at about 16 per cent, which is closer to pre-pandemic highs.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price cut will bring relief to the cash-strapped carriers.
The Sensex ended down 251 points at 27,351 and the Nifty shed 65 points to close at 8,228.
'It has been doing yeoman service for the people of the North East.'
Diesel price was on Monday hiked by 50 paise per litre, excluding VAT, with effect from midnight tonight.
It calculated that the government should have got an additional profit share of $ 115.263 million.
Going by the experience of the previous years -- when the actual proceeds from stake sale were much lower than the targets -- the government's disinvestment target for 2014-15 appears too ambitious.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
Oil imports are a third of India's total import bill.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
The government has lost its appeal in the English High Court against a $111 million arbitration award in favour of Reliance Industries Ltd and Shell in a cost recovery dispute in the western offshore Panna-Mukta and Tapti oil and gas fields. High Court judge Ross Cranston on June 9, 2022 ruled that the government should have brought its objections over the arbitration tribunal not meeting the required thresholds, when issuing the 2021 award earlier, two sources with knowledge of the matter said. Rejecting the government's arguments, the court said the objections are barred by an English law principle whereby a party cannot raise matters in new proceedings that could have been raised in earlier proceedings.
Petrol price has been hiked by Rs 1.82 a litre, excluding taxes, with effect from midnight tonight.
The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
Modelled loosely around the National Highway System of the US, he in 2001 launched the Golden Quadrilateral and the North-South & East-West Corridor projects to build 4/6 lane highways between four top metropolitan cities of Delhi, Mumbai, Chennai and Kolkata as well as from Srinagar to Kanyakumari and Porbandar to Silchar.
The divergence shows lack of financial depth in the Indian stock markets.
The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the third quarter ended December 31, 2018.
After today's reduction, petrol price has been cut by Rs 12.27 per litre cumulatively since August.
The approval is required to put through gas sales agreements with customers, which in turn are required to finalise Gas Transportation Agreements with transmission companies.
Expects to raise Rs 9,300 crore from Indian Oil share sale on Monday
The Gujarat High Court had last week directed ONGC to pay royalty on crude oil on the gross price it bills to refiners.
After making it available at petrol pumps, the convenient 5-kg cooking gas (LPG) cylinder will now be available at kirana stores and supermarkets in select cities.
A 14.2-kg subsidised LPG cylinder will cost Rs 494.99 in Delhi, while non-subsidised LPG rates have been cut by a steep Rs 120.50 per cylinder
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