Ministry to propose a new subsidy mechanism to cap upstream firms' share.
'The combination of star power, compelling storytelling, and action-packed drama promises to set the box office ablaze and kickstart the new quarter on a spectacular high note.'
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
'Our target will come from rural areas as there are more outlets there.'
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
A sharp rise can be attributed to the significant changes in India's share buyback tax regime, which will come into effect from October 1, 2024.
Based on this settlement, the Supreme Court has disposed of the case on February 20.
The third and final test in the series of landing experiment (LEX-03) was conducted at 07:10 1ST at the Aeronautical Test Range in Chitradurga, Karnataka.
Branded and packaged edible oils are currently selling at around 50 per cent premiums over their loose varieties. Hence, products using edible oils would be costlier going forward.
Saudis are interested in expanding their relationship with India, given it is becoming the main driver of crude demand growth in Asia
Old timers in Oil and Natural Gas Corporation (ONGC) still remember how in early 2000 its overseas subsidiary, ONGC Videsh Ltd (OVL), was on the verge of closure. Though OVL was set up in 1965, the only discovery the company had made till then was in Vietnam offshore, with more investment needed to monetise it. In 2001, when OVL started looking for new blocks abroad, the company's previous acquisition was 13 years old.
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
Domestic oil companies have been invited by countries like Yemen, Nigeria and Saudi Arabia to pick up stake in existing refineries and also set up greenfield units.
The total investment at risk is $930 billion and oil companies will need to cut their expenses by 30 per cent to make their projects viable provided oil remains around $70 a barrel.
The company, which had planned an initial public offer in February, said the issue got delayed partly because it could not appoint independent directors on its board. "The issue has now been resolved and we aim to hit the capital markets in November," said OIL Chairman and Managing Director M R Pasrija.
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
Is the DGH right about ONGC's track record?
A higher-than-expected consumer price inflation (CPI) print for March in the US has dashed hopes of an interest rate cut by the US Federal Reserve (US Fed) in June. Analysts now expect the US central bank to start cutting rates in September, provided inflation remains in check and oil prices remain supportive. The markets, analysts believe, partially factored in this possibility.
There were about 290 bandhs, blockades called by numerous organisations during fiscal 2012-13.
Shares of public sector enterprises have corrected by up to 22 per cent month-to-date until March 19, 2024. Analysts attribute this steep fall to the valuation exuberance seen after a sharp run in these counters last year and suggest investors remain selective regarding the stocks in this space. "The rally in public sector undertaking (PSU) stocks has been stretched and sharp, although it is somewhat justified by improvements seen in earnings, operations, balance sheets, and overall profitability.
'Interim Budget has ignited the entrepreneurial spirit.'
I suggest we build a Vigyan Mandir (Temple of Science) with the ambience of a place of worship, so that it becomes a destination for pilgrims. We should embed on its walls bronze plaques describing each scientist mentioned here along with about a dozen of our ancient mathematicians, recommends Professor Kalyan Singhal, historian of science and technology.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
The petroleum ministry has told ONGC to give away 60%stake plus operating control in India's largest oil and gas producing fields of Mumbai High and Bassein to foreign companies, according to an October 28 letter to the state-owned company. Amar Nath, additional secretary (exploration) in the Ministry of Petroleum and Natural Gas, wrote a 3-page letter to ONGC chairman and managing director Subhash Kumar, saying productivity of the Mumbai High and Bassein & Satellite (B&S) offshore assets under state-owned firm was low and international partners should be invited and given 60 per cent participating interest (PI) and operatorship. This is the second time since April that Nath, who is part of the ONGC management as the longest-serving government nominee director on its board and often considered a potential candidate to replace Kumar next year, has written an official letter, painting a poor picture of the company's performance.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
Volkswagen Passenger Cars is targeting a volume sales growth of about 15 per cent in the country in 2024, even as it expects the Indian passenger vehicle (PV) industry to grow by 5-7 per cent in the current year, its India brand director, Ashish Gupta, said on Thursday. This means the company is expecting to grow 2-3 times faster than the Indian PV industry in 2024. But globally, the German automaker is expecting just 3 per cent rise in sales this year, down from 12 per cent last year.
CBD oil, found in marijuana, is gaining popularity for its pain-relieving properties. It's now legally available in India
India's climate change goals are turning combustible. On the one hand, a protracted dispute between the government and manufacturers over subsidies threatens to slow the pace of electric vehicle (EV) sales. On the other hand, repeated assertions by different arms of the government over banning sales of new fossil fuel-fired vehicles have queered the pitch for energy investments. Before we address the issue of the recommended diesel vehicle ban in the recent report on energy transition, issued months before the next round of global climate talks begin in Dubai in November, let's look at what's at stake.
As Ayodhya readies itself for the glittering, much-awaited consecration ceremony of the Ram Mandir on January 22, and as millions of pilgrims and devotees pour into the holy city for the momentous event, companies are rushing to do their bit and be a part of the mega celebrations. Some are offering a part of their profits as donations, telcos are beefing up the number of cellular towers to ensure better connectivity, and there are those distributing jalebis and food platters.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
The worst industrial disaster of the Northeast took away the lives of three employees of the PSU major and injured several others.
Mukesh Ambani, will become the IOA's principal partner and help the country's sports federations
Indian oil and gas exploration companies work in silos.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
The Public Enterprises Selection Board, which is the government head-hunter, interviewed seven candidates for the post, which fell vacant after Dinesh K Sarraf was elevated as Chairman and Managing Director of ONGC.
India will receive its first shipment of oil from Russia's Sakhalin-I fields, where it is investing more than $2.7-billion, from the second quarter of 2006.
An ecological disaster is in the making in the Sunderbans, the world's largest mangrove forest spanning across the Indo-Bangla border, after an oil tanker collided with an empty cargo vessel. The incident spilled nearly 350 tonnes of oil into the Sela river, threatening the survival of multiple species of flora and fauna.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
Undoing Mani Shankar Aiyar's move to exercise greater control on public sector oil firms, the petroleum ministry has restricted the number of government directors on boards of public sector oil companies to just two.
