Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
Financial shares were the top losers.
IBP & Co Ltd, a subsidiary of Indian Oil Corporation, will invest Rs 350 crore (Rs 3.5 billion) in the current financial year to augment retailing strength of the oil marketing PSU.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
The breadth, indicating the overall health of the market, was slightly positive
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
In the broader market, the S&P BSE Midcap ended 0.1% down, while the S&P BSE Smallcap index gained 0.3%.
While the five years of the Modi government have indeed seen a healthy increase in PSUs' outlay and the Budgetary support for them, the next year's numbers reveal the squeeze in the government's own resources even though it is expecting a much higher dividend income from the PSUs. These do not augur well for the PSUs in 2019-20 and the years ahead, unless these numbers are revisited and, hopefully, revised in the full Budget that will be presented later in July this year, says A K Bhattacharya.
Metal shares gained on hopes that the government may adopt ordinance route for mines sector reforms
RBI may revise remuneration for banks.
Gripped by the pre-election frenzy, Indian markets seem to be factoring in the victory by the Narendra Modi-led BJP.
The market sentiment was also impacted by mixed global cues as setbacks for a healthcare overhaul in the US raised doubts over prospects for a range of reforms backed by President Donald Trump.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
The first was wholesale funded banks and non-bank finance companies.
'The effect will be seen two-three quarters down the line.'
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
Strategic sales are tricky and were last undertaken when the Vajpayee government was in power.
There are NPAs on account of the industrial downturn in sectors like steel, infrastructure and power.
More than five lakh aspirants will take the exam on January 7 and 8, 2017.
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
The rupee weakened to 62.58 against the US dollar in the early trade on Thursday.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
The broader Nifty ended on top of 9,800 again.
HPCL was sought after in early trades on Wednesday as media reports suggested that the company's divestment is likely to be wrapped up by June 2003.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
The Nifty closed at 10,335.30, down 28.35 points, or 0.27 per cent.
Randeep Surjewala also accused the government of "doublespeak" and "sacrificing" national interests.
Other companies which are on the block include NMDC, NALCO and IOC.
The New Year 2015, however, may see shares worth over Rs 50,000 crore (Rs 500 billion) being put on the table by the government, including by way of part-sale of its holdings in PSUs and its residual minority stakes in some private sector entities.
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
'While GST and demonetisation are likely to cause disruption for longer than the market currently expects, they can have meaningful positive impact over the medium-term.'
On BSE, 1,469 shares fell and 1,200 shares rose. A total of 190 shares were unchanged.
UBI's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion) as part of consortium led by State Bank of India.
The S&P BSE Sensex has dipped five per cent, thus far, in CY15.
Tax Guru Anil Rego answers your personal income tax queries
PSU stocks continued with their reign of gains as the market expects that most of these companies have done well in the just concluded quarter.
