The demand for black oils and specialty products like fuel oil, bitumen, petcoke and sulphur has also shown marked improvement, facilitating increase of refineries throughput.
The company, which already has around 66 per cent market share in the hatchback segment and about 50 per cent in the overall domestic passenger vehicle segment, currently sells Vitara Brezza and S-Cross in the SUV segment. In an interaction with PTI, MSI managing director and CEO Kenichi Ayukawa acknowledged that there was some lag in launching new products due to the pandemic but the company is now on track regarding new model launches.
These decisions are aimed at helping mills in clearing part of over Rs 22,000-crore arrears to cane farmers.
These so-called 'negative crack spreads' have huge implications for India, which imports crude oil and exports petroleum products. Brent crude oil, the international oil benchmark, was trading at $62 a barrel on Thursday.
The Export Oriented Unit status of Reliance Industries' Jamnagar refinery in Gujarat has ended, allowing the company to sell petrol and diesel locally including through its 1,432 now-closed petrol pumps.
'What has taken the government so long to understand what the people of this country are going through?'
Chief Economic Adviser K V Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country's economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. He further said that given the circumstances due to the pandemic, it is difficult to forecast if the country would achieve a double digit growth in the current fiscal. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending March 2022.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
'If you are invested in mid-cap and small-cap stocks, even if you are making losses right now, it is better to sell them now and sit on cash.'
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
The main problem is that the consumer's purchasing power has been eroded, say RC Bhargava, Maruti's chairman.
Petroleum Minister Dharmendra Pradhan's wish to levy indirect tax on petrol unlikely to be taken up
Auto majors have introduced a range of petrol engines for compact cars that comply with the Euro-V norms and are meant for the export markets. This enables them to prepare for the stringent emission norms to be introduced in the country. While the latest compact cars manufactured in India are Euro-V compliant, the latest petrol car engines are highly fuel efficient.
Stocks to watch: Container Corp, Snowman Logistics & Transport Corp
India, the world's third-largest energy consumer and importer, on Wednesday warned of high oil prices hurting the nascent and fragile global economic recovery and floated an idea of long-term supply contracts that provide predictable and stable pricing. Speaking at the India Energy Forum by CERAWeek, Oil Minister Hardeep Singh Puri said there was a mismatch between demand for oil and the supplies producers such as OPEC+ were making and there was a case for raising the production. The world, he said, needs "predictable, stable and affordable" prices for it to recover back to pre-pandemic levels.
The Saudi and Iraq offer to replace Iranian crude supplies comes with a catch: Higher prices for the same quality of crude. The new government will face a tough decision over fuel price hike, says Aveek Sen.
After consumer price index jumped the 6.3-per cent mark in May and wholesale inflation set a record of 12.94 per cent, house economists at Swiss brokerage UBS Securities have warned that the country is facing more upside risks on the inflation front that is set to averaging at 5 per cent for the year. Rising prices of edible oils and protein rich items pushed retail inflation to a six-month high of 6.3 per cent in May, breaching the comfort level of the Reserve Bank and thus rendering reduction in interest rates a difficult proposition in the near term. Led by petrol price, that has crossed the Rs 100-mark in many states, wholesale inflation too accelerated to a record 12.94 per cent in May. While crude oil has crossed $70 a barrel on account of rising prices of crude oil and manufactured goods due to spike in commodities, and the low base of last year due to the lockdown.
'If an election promise has to be credible, silence on practical questions doesn't help matters,' notes T N Ninan.
The ministry is preparing a draft note for consideration of the CCPA on pricing of diesel, kerosene and LPG, official sources said.
The XUV100 will be launched in trendy colours like yellow and orange
The country's largest car exporter launched the iGen i20 in both petrol and diesel variants, carrying a total of 12 variants.
The 5-seater Compass is set to take on Hyundai Creta, Mahindra XUV500, Renault Duster, Toyota Innova and Tata Hexa.
Food inflation had soared to a year's high of 18.32 per cent for the week ending December 25 before declining to 16.91 per cent in the subsequent week.
'If you look at this Budget, except for the Rs 2 increase in petrol and diesel, there is no positive or negative impact from the Budget for the common man.'
Global product prices have declined on apprehension of a fall in consumption in the US after a rating downgrade recently.
Markets crashed the world over, share prices slumped, prices of airline tickets went up. All because of global crude oil prices, which touched a record $41 per barrel and output capacity of OPEC. Take the rediff biz quiz and know all about OPEC
The Reserve Bank's growth projection for next financial year is lower than 8-8.5 per cent projected by the finance ministry in the recent Economic Survey which was tabled in Parliament on January 31. Unveiling the bi-monthly policy, RBI governor Shaktikanta Das said, "Recovery in domestic economic activity is yet to be broad-based, as private consumption and contact-intensive services remain below pre-pandemic levels."
Oil marketing cos rightly passed on the burden to buyers.
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
Maruti's exports in May were down 2.4% at 9,089 units
Govt unlikely to cut excise duties to compensate for higher global prices, say analysts.
The company, which had launched the model last year, has so far sold more than 60,000 units of the SUV in the country.
Figo Aspire will be the company's first ever sub-4 meter sedan.
The US is seeking to restrict gasoline supplies from refiners to Iran over its suspected nuclear weapons programme.
For now, the upside appears to offset damage done to exports by weaker global demand.
Signs of a strong pickup in hiring by companies are adding to the rosier outlook for Indian households.
Though strikingly similar to the Tiago, the Tata Tigor takes the design quotient a notch higher, says P Tharyan.
The Baleno cars covered in the recall include 17,231 export units.
The company, which unveiled its compact multi-purpose vehicle Triber in India, is bringing the MPV only in petrol engine option as part of the strategy even as it prepares to introduce electric vehicles in the near future.
