After demonetisation, sharp fall in PE valuation offers an attractive entry point into some quality names and these 3 FMCG companies are expected to see the fastest growth in earnings with at least 15 per cent upside potential
The fall was led by banking stocks, with IndusInd Bank, Kotak Bank, Federal Bank, Axis Bank, ICICI Bank, HDFC Bank and SBI declining up to 2.36 per cent.
The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
The former ONGC chairman's passion for everything that he set out to do was such that he would settle for nothing short of being the best, says Sudhir Bisht.
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.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
Oil and Natural Gas Corporation has taken control of Imperial Energy after 96.8 per cent shareholders accept its takeover offer.
China has pipped India to sign a 30-year agreement to import natural gas from fields lying in Myanmar offshore where India's state-owned companies have 25 per cent stake.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation, will make an offer to acquire shares of the United Kingdom-listed Imperial Energy Corp Plc at 12.50 pounds a share by December 9.
Pakistan Prime Minister Imran Khan on Wednesday said India will be benefitted economically by having peace with his country as it will enable New Delhi to directly access the resource-rich Central Asia region through Pakistani territory.
'The PLA has continued to do exercises and drills and recently carried out air exercises with fighter jets.'
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
The S&P BSE Sensex ended the day at 28,226, up 85 points, while the Nifty50 settled at 8,734, up 18 points.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
Chennai-based Sical Logistics Ltd, which was operating the ONGC-owned supply vessel, said Captain Gurubachan Singh is among the eight still missing.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
ONGC has awarded the service contract for development of its B-192, B-45 and WO-24 fields, known as Cluster 7, south-west of the Mumbai High field to a consortium of HPCL, Prize Petroleum Comnpany Ltd and Malaysia's M3nergy Berhad (Trenergy). \n\n
Markets climb higher tracking global cues.
Mutual funds were predominantly buyers in the banking, engineering, power, IT, and media space in February
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
R S Sharma,the new ONGC chief, has set his sight on reversing the decline in production from ageing fields and cutting rising expenditure.
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.
Oil and Natural Gas Corp (ONGC) will shut down two key facilities at its largest gas field off Mumbai in January and February that will cut output by one-third.
Steel baron Lakshmi N Mittal is eyeing to buy half of Hindustan Petroleum Corp's exploration arm Prize Petroleum for about Rs 200 crore (Rs 2 billion). Mittal, which made rapid advances in oil sphere this year first with a 49 per cent stake in HPCL's Bhatinda refinery and then partnering the state-run firm for a separate refinery on the east coast, is in talks with financial institutions to buy out their 50 per cent stake in Prize Petroleum.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Subir Raha, the former chairman and managing director of Oil and Natural Gas Corp, has been awarded the prestigious 'Energy Executive of the Year' award instituted by London-based renowned energy journal Petroleum Economist.\n\n
Investors have turned cautious ahead of the policy meetings of central banks in Japan and the US
TCS was the biggest loser in the Sensex pack, sliding 3.17 per cent, followed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 per cent.
Production at India's largest gas fields Bassein and Panna/Mukta and Tapti in Mumbai offshore has been stopped, following flooding of Oil and Natural Gas Corp's processing plant at Hazira in Gujarat.
Subir Raha, the former chairman and managing director of Oil and Natural Gas Corp, has been short-listed for the prestigious "Energy Executive of the Year" award instituted by London-based renowed energy journal 'Petroleum Economist'.
Losers included Bharti Airtel, SBI, Wipro, Vedanta, Maruti Suzuki, ICICI Bank, Axis Bank and Reliance Industries, falling up to 2.18 per cent.
Chief mentor of Infosys Technologies N R Narayan Murthy and former chairman of Oil and Natural Gas Corp Subir Raha have been adjudged winners of Priyadarshni Academy award
State-run Oil and Natural Gas Corp has demanded a 12.5 per cent hike in price of natural gas it produces from fields given to it on nomination basis as it was incurring losses at the present permal units.
India-born billionaire Lakshmi N Mittal may take 49 per cent stake in Hindustan Petroleum Corp Ltd's under-construction $3 billion refinery at Bhatinda in Punjab.
The markets opened strong on the back of buying in capital goods, bank and IT stocks
In the wake of opposition from the law ministry and the Department of Public Enterprises, the petroleum ministry
The government on Friday gave its nod to ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp, to acquire Royal Dutch/Shell's 33 per cent stake in a deepsea gas field off Egypt.
State-owned Oil and Natural Gas Corp has shut some wells on two onland gas fields in East Godavari district of Andhra Pradesh following the fire in a pipeline that carried the gas to consumers.
