The BSE Sensex and Nifty fell more than 2 per cent on Tuesday, heading for their biggest daily loss since the midst of the rupee crisis in 2013
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
The Oil and Natural Gas Corp wants to challenge the government's decision to withdraw the seven-year tax holiday on production of natural gas in a high court as the economics of its deep-sea projects will be severely hit because of the decision.
Indian Oil Corporation has been ranked as the number one oil trading company amongst national oil companies in the Asia Pacific region.\n
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
In a significant development, the government may allow state gas utility GAIL India to charge a marketing margin on sale of APM or subsidised natural gas.
Govt seems to bullish to meet its disinvestment target in current fiscal.
Oil and Natural Gas Corp, India's largest oil producer, has proposed an investment of Rs 7967 crore (Rs 79.67 billion) in setting up a 7.5 million tonnes refinery at the site of recent oil find in Rajasthan.\n\n
Oil & gas, banking and pharma sector stocks stole the show
The field is drawing major interest after recent discoveries.
Oil regulator DGH has recommended stiff penalties on state-owned Oil and Natural Gas Corp and Reliance Industries Ltd for default on commitments made by them on oil and gas exploration blocks awarded under NELP.
Infosys was the top gainer in the Sensex pack, closing 7.20 per cent higher as investors cheered its financial results. The IT major posted better-than-expected 5.3 per cent rise in its June quarter net profit, and raised revenue growth forecast for the current fiscal.
TI report, which placed 42 oil and gas companies into three tiers based on their level of transparency in revenue disclosure, clubbed ONGC with China's CNOOC and CNPC, Russia's Lukoil and US-based ExxonMobil Corp in the lowest tier for disclosing information only by geographical segment and providing almost no additional information.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
India's largest oil producer Oil and Natural Gas Corp, gas utility GAIL and exploration firm Oil India Ltd will pay Rs 3,246 crore (Rs 32.46 billion) to oil marketing firms to partly cover the losses they made in April-June.
The broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90 in its fourth straight day of losses.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will invest close to $150 million in the seven oil and gas blocks it recently acquired in Cuba.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
The previous democratically-elected government in Bhutan sought to get cosy with China. Will the new Tshering Tobgay dispensation mend the fences with India? Shubha Singh examines
RIL was the biggest gainer in the Sensex pack, rising 2.63 per cent, followed by NTPC, Axis Bank, Tata Steel, PowerGrid, HDFC twins, Bharti Airtel, M&M, ICICI Bank, SBI and Bajaj Finance -- gaining up to 2.51 per cent.
The Oil and Natural Gas Corp has deferred investments in Imperial Energy Plc to raise crude oil production and will rather consolidate the western Siberian operations of the UK-based firm it acquired recently.
About two dozen discoveries of the state-owned ONGC, Reliance Industries and the Gujarat State Petroleum Corp (GSPC) in KG Basin alone are languishing for want of right price.
Goldman Sachs' controversial note on corporate governance in Oil and Natural Gas Corp that evoked a strong reaction from the company, is not the first instance of the US investment bank having a run-in with the state-owned firm.
Nearly 400 stocks hit their 52-week low on BSE on Thursday.
The post fell vacant after the government refused Subir Raha an extension at the helm of the company after his first five-year term expired in May.\n\n
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
The Aditya Birla group has agreed to sell two unlisted downstream palm oil companies in Malaysia for Rs 540 crore
Oil and Natural Gas Corp, the biggest player in the country's crude oil exploration and production business, is planning to invest around Rs 9,000 crore (Rs 90 billion) in phase two of the redevelopment of Bombay High.
With an eye on bigger imports, the oil marketing firm may get its French partner Total to set it up.
The biggest challenge is crude oil's sustained rally - it is nearing $80 a barrel - stoking inflationary pressures and consequent price hikes in the sector.
State-run Oil and Natural Gas Corp is in the race for picking up Canadian firm EnCana's stake in a cluster of oil fields in Ecuador and is also talking to Russia for picking up stake in assets of oil major Yukos.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
Government-owned companies are more generous in rewarding their shareholders with dividends.
Foreign Minister Mohammad Javad Zarif tweeted that the attack near the Iraqi border was carried out by 'terrorists recruited, trained, armed & paid by a foreign regime'.
State-owned Oil and Natural Gas Corp (ONGC) has offered a job to Unmukt Chand, captain of Under-19 World Cup-winning team. 'We have today felicitated the star cricketer and decided to make a job offer,' ONGC Chairman and Managing Director Sudhir Vasudeva said.
State-owned Oil and Natural Gas Corp plans to invest over Rs 130,000 crore (Rs 1300 billion) during 11th Plan Period (2007-12) in domestic oil and gas hunt, overseas acquisition and expansion of Mangalore refinery.
Oil and Natural Gas Corp, India's largest oil producer, plans to set up new refineries at Rajasthan and Kakinada in Andhra Pradesh, Petroleum Minister Mani Shankar Aiyar said on Thursday.\n\n
The Indian oil company has been struggling to generate positive free cash flows given its already high capital expenditure programme and projected rise in its fuel subsidy outgo.
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