Financials were the top losers while oil shares also declined amid weak crude oil prices.
The wholesale price-based inflation declined to a 19-month low of 8.39 per cent in October, on easing prices of fuel and manufactured items. This is the first time in 19 months that WPI inflation print has come in single digit. Last was in March 2021 at 7.89 per cent. Since April 2021, WPI inflation remained in double digits for 18 months with September print at 10.79 per cent.
Under pressure from his party, Oil Minister M Veerappa Moily said the government is considering increasing the quota of subsidised LPG cylinders to 12 per household even as hints were dropped of a one-time hike in diesel and LPG rates
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
The seven-member grouping has seen two changes -- S Jaipal Reddy replacing Murli Deora after taking over as the Oil Ministry, while Kamal Nath has given away to the new Road Transport and Highways Minister C P Joshi.
Having failed to align cooking gas prices with the market and limit the number of subsidised cylinders to consumers, the government is now trying to curb the misuse of multiple connections in households.
A suicide car bomber attacked a police checkpoint, guarding several government ministries, as Iraqi employees arrived for work on Monday, killing at least 7 policemen and 3 workers, police said.
The Cabinet Committee of Economic Affairs has approved a hike in gas prices from April 2014.
Cairn's contractual term for exploring and producing oil from the Rajasthan Block RJ-ON-90/2 expires in 2020 and the area is to return to the block licensee, ONGC.
The petroleum ministry has sought additional oil bonds worth about Rs 13,000 crore (Rs 130 billion) to cover the revenue loss on fuel sale in the fourth quarter of the current fiscal.
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