Lower bank rates the main draw; $6 bn to be raised in next few months.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 per cent, traders said.
"We are in discussions with NPCIL for incorporating a joint venture for setting up a nuclear power plant. NPCIL will have a minimum of 51 per cent stake in the joint venture while ONGC would have a maximum of 49 per cent," a company official said.
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.
Hero MotoCorp, Bajaj Auto, M&M and Tata Motors were the major winners.
Prices of natural gas, which is used to produce fertiliser and generate electricity and is also converted into CNG for use in automobiles as fuel and cooking gas for households, are set every six months -- on April 1 and October 1 each year.
The fall in international oil prices notwithstanding, ONGC Videsh Ltd will not revise its pound 12.50 a share buyout of Imperial Energy Corp Plc as the acquisition priced UK-listed firm's in-place oil reserves at $2.5-3 per barrel.
"Our gross billing in October-December quarter was $ 89.13 per barrel, as compared to $ 76.66 a barrel in the corresponding quarter of the last fiscal," a company official said.
Yes Bank, Wipro, Kotak Bank, M&M, Sun Pharma, Maruti, HDFC, Hero MotoCorp, Infosys, TCS, L&T, Bajaj Auto and HUL were among the top gainers, rising up to 6 per cent.
ONGC Videsh Ltd and China National Petroleum Corp have for the first time ever made a joint bid for acquiring an oilfield abroad.
'Kindly advise about the following stocks. Can I hold or exit?'
'The bigger challenge and dilemma for Pakistan would be if the US and Saudi Arabia go full throttle against Iran and enforce regime change in Tehran.' 'That would be bad news for Pakistan, especially with the current instability in Balochistan,' notes Brigadier Narender Kumar (retd).
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
State-run Oil and Natural Gas Corp (ONGC) may seek management control of the giant Rajasthan oilfields in lieu of allowing UK's Cairn Energy to sell majority stake in its Indian arm that now operates the field, to a non-oil firm, Vedanta Resources for $8.48 billion.
The broader NSE Nifty sank 252.55 points, or 2.14 per cent, to 11,558.60.
The government is bullish on Coal India and ONGC's stake sale programme which are to be held soon.
The government plans to more than double the price of natural gas produced by Oil and Natural Gas Corp (ONGC) to $4.20 per mmBtu, in a move that will help the state-run firm break even in gas business.
Output in the first half of the year was 101.59 million tonnes.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has emerged as the Indian company having the most international exposure for the second consecutive year, says a survey.
The market breadth, indicating the overall health of the market turned negative from positive
Petrol price has been cut by 58 paise a litre and diesel by 25 paise with effect from midnight tonight.
State exploration firm Oil and Natural Gas Corp on Thursday said it will take 26 per cent equity in Bharat Petroleum Corp Ltd's upcoming 6 million tonnes refinery at Bina in Madhya Pradesh.
The government has deferred its proposed Rs 12,000 crore (Rs 120 billion) share sale in state oil and gas explorer ONGC by at least two weeks due to unfavourable market conditions.
In a move that may cripple the nation's oil and gas production, the shipping ministry has issued new norms for operation of vessels in the Indian waters that will force leading operators like Oil and Natural Gas Corp and Reliance Industries to shut offshore operations.
India should remember that Pakistan-Saudi Arabia relations will remain special due, not least, to bonds of all Muslims with The Holy Land. They would also be strategic enough, irrespective of whether the ambassador is a military man or a career civilian appointee., notes Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing, India's external intelligence agency.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
Cairn files notice against India in $1.6 billion tax dispute.
Oil and Natural Gas Corp (ONGC) has said its net profit will drop by over 47 per cent to below Rs 10,000 crore (Rs 100 billion) this fiscal if the government forces it to shell out a higher fuel subsidy.
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
In the Sensex pack, Bajaj Finance and Bajaj Auto ended up to 6.09 per cent higher after posting strong quarterly numbers.
After weeks of delay, Oil Minister S Jaipal Reddy has agreed to clear appointment of two independent directors on board of Oil and Natural Gas Corp (ONGC), a requirement that was must for the state-owned firm's public offering next month.
"The Corporation has decided to offer a voluntary retirement scheme, with a view to enable employees who are not in a position to continue in service of the Corporation due to various personal reasons, to request for grant of voluntary retirement from the services of the Corporation," Bharat Petroleum Corp Ltd (BPCL) said in an internal notice to its employees.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Lakshmi Niwas Mittal, who wants to make it big in oil after forming the world's largest steel empire, has lost a bid for taking over Nigeria's biggest oil refinery.
Indian state-run oil giants HPCL and BPCL reported on Wednesday no supply disruptions as result of a two-day-old strike by workers opposing privatisation of the refiners.
Videocon Industries on Tuesday said a well drilled to confirm an oil discovery in its Brazilian offshore block has struck 200 feet of high-quality hydrocarbon zone.
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.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
Upstream oil firms bear one-third of the revenue that retailers lose on selling diesel, domestic LPG and Kerosene at government-controlled rates.
Referring to Modi, Adityanath and Union Home Minister Amit Shah as 'outsiders', the farmer leader said he has no objection if they become prime ministers after winning polls from Uttarakhand or Gujarat.
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