The only fuel that showed growth was LPG as the government dole of free cooking gas cylinders to poor households fired up consumption by 21 per cent during April 1 to 15.
The 30-share index surged 499.79 points or 1.84 per cent to settle at 27,626.69.
Oil & gas, banking and pharma sector stocks stole the show
Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year.
Companies in China, South Korea and Indonesia pay 25 per cent tax, while those in Malaysia pay 24 per cent. Only Japan has a higher tax than India at 30.6 per cent. Hong Kong has the lowest corporate tax rate of 16.5 per cent while Singapore has 17 per cent rate and Thailand and Vietnam levy 20 per cent tax on companies.
The companies that have signed these pacts with the India chapter of the Berlin-based Transparency International include PSU majors such as GAIL (India), Coal India, Oil and Natural Gas Corporation, Steel, Hindustan Petroleum Corporation, Steel Authority of India, National Mineral Development Corporation and Rashtriya Ispat Nigam. In fact, 12 of the 14 companies that signed the pact, did so in the last six months.
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
'Four times in Indian history, in 1992, 2000, 2007 and now, markets are at 25 times price-earnings.'
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
Karnataka Soaps and Detergents will launch a super premium brand in June.
An Inter-ministerial panel had last month approved 10 per cent equity sale in Coal India. At present, the government holds 90 per cent stake in the firm.
Concerned over the plight of patients after withdrawal of the cashless treatment facility by some hospitals at the behest of PSU insurance firms, noted heart surgeon Naresh Trehan on Monday said all-out efforts are underway to resolve the issue.
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
Compared to equity funds, debt funds are lower risk profile and are usually suitable for investors for very short term.
While government/PSU procedures focus on piece meal & individual tenders taken on standalone basis, avoiding delays and cost of not doing things becomes a primary consideration in PSC procurement
India will deploy an indigenously built coastal surveillance system in 46 strategic western and eastern locations in the country from this November to check intrusions from sea and counter such threats, officials said on Tuesday.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
The PSU is planning to convert Rs 3,000 crore (Rs 30-billion) loan into long term debt.
Forbes magazine has compiled a list of the best 2000 global companies. 48 Indian companies figured on this list. Top amongst the Indian companies are Reliance Industries and PSU major ONGC at 193rd and 198th ranks. HSBC topped the list. Other Indian companies on the list are SBI, Indian Oil, ICICI Bank, NTPC, SAIL, Tata Steel, Bharti Airtel, RComm, HDFC, L&T, BPCL, RPower, RCap, BHEL, Infosys, Tata Motors, Wipro, ITC,Canara Bank, Central Bank of India, Union Bank of India,DLF
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
Concerned over BSNL's falling revenue and market share, an employee association of the state-owned telecom company has sought a thorough probe into an alleged nexus between senior officials of the PSU and private operators.
The Nifty ended at 5799, down 66 points. As the day wore out, the banking sector actually saw buying interest at lower levels. The realty space remained in doldrums though.
Seeking to spur foreign investments, Finance Minister P Chidambaram has said the Union Cabinet will decide on raising FDI caps in different sectors in the third week of this month.
FMCG players -- Dabur, HLL, PSU BPCL, Korean car maker Hyundai, liqour barron Vijay Malaya's Mcdowell and TVS motors -- are among the major companies found to violate Advertising Standards Council of India code.
The Committee on Public Undertakings (COPU) of Parliament has summoned the telecom secretary R Chandrasekhar on Tuesday to estimate the loss suffered by public sector undertakings BSNL and MTNL in the 2G and 3G spectrum allocations.
Expect corporate houses to raise funds via IPO in second half of this year.
All you need to know about the case and the man behind the drama that has ensued.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
The country's largest coal producer Coal India is likely to decide in 2-3 days on roping in anchor investors for its upcoming mega initial public offer, Coal Minister Sriprakash Jaiswal said here on Friday.
Earlier, the government had said it was looking at divestment in Indian Oil Corporation, Steel Authority of India Ltd and ONGC in the first quarter of 2011.
There are 30 listed PSUs in which the public holding is less than 25%.
Mines Minister B K Handique said that his ministry is not in favour of any further equity dilution in the navratna PSU.
The Budget came in a period when good news was otherwise scarce.
Govt seems to bullish to meet its disinvestment target in current fiscal.
Covering-up of short positions ahead of Thursday's expiry of August series in the derivatives segment gave equities a slight push
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
