The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
A plea of the UK-based Vedanta group company to export its share of crude oil from Barmer oil field in Rajasthan was on Tuesday rejected by the Delhi high court on the ground that domestic crude cannot be exported till India attained "self sufficiency".
Small- and mid-cap stocks continued facing selling pressure due to stretched valuations.
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
The Income Tax department, which is probing Cairn Energy plc's transfer of India assets, has asked the UK-based company not to dispose of its 10.3 per cent holding in Cairn India.
The 30-share Sensex ended down 261 points at 27,177 and the 50-share Nifty ended down 91 points at 8,214.
"India's middle class, small traders and farmers are the lifelines of its economic growth. By catering to these ambitions #Budget2019 infuses hopes for millions of dreams."
A recovery in rupee, buying by domestic institutional investors, encouraging earnings by select blue-chips and stock specific buying helped the market get back on its feet
Tata Power, Sesa Sterlite and Hindustan Zinc likely to be hit.
The company has not been able to sell its 9.8% stake in Cairn India
Mixed global cues and decline in crude oil prices further dent the sentiments.
The index had risen over 585 points in the previous three sessions.
Sun Pharma was the best gainer among Sensex components, surging 6.91 per cent
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
The winter session of Parliament will commence on November 26.
Sensex, Nifty end the day in red ahaead of F&O expiry.
However, RIL has exceeded the mandatory 2% prescribed limit, spending the maximum amount of Rs 761 crore
Weak GDP data and unfaouvrable global data has pulled down Sensex, Nifty.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Poor disclosure among India-listed firms is a turnoff for foreign investors.
Several Sensex stocks hits 52-week low in intra-day trade on Monday with financials leading the decline.
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
Prime Minister Manmohan Singh has asked administrative ministeries to work out viable plan for disinvestment of BHEL and Coal India, including dividend payment, so as to achieve Rs 40,000 crore (Rs 400 billion) target in the current fiscal.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
Petrol prices on Thursday crossed Rs 73 a litre mark, the highest level since the BJP government came to power in 2014, while diesel touched a record high of Rs 64.11 a litre.
The 30-share Sensex ended up 214 points at 27,890 and the 50-share Nifty closed up 52 points at 8,430.
Cairn faces a potential tax demand on an alleged Rs 24,500 crore of capital gains it made when in 2006-07 it transfered all its India assets to a new company, Cairn India.
Bank shares were the top losers after sharp gains last week.
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
Asian shares ended higher after a string of positive US economic data.
Vodafone's long-pending tax dispute with the government might be heading for a resolution, with the finance ministry considering changing the Income-Tax Act's retrospective amendment and taxing indirect transfer of assets prospectively from 2012, the year the law was clarified.
The Mukesh Ambani-led Reliance Industries Ltd (RIL) might take a write-down on the KG-D6 block.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
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.
The policy statement by the RBI governor is also expected to be upbeat.
According to Merrill Lynch (BofA-ML) report, Domestic capital markets are likely to remain volatile in the September-November period due to factors like US Fed's policy action, second quarter corporate earnings and Bihar state elections.
As oil minister, he has overseen India's petroleum and natural gas needs. But now he also runs the environment ministry, where he has issued permits for 100 stalled projects in a month-long spree that has delighted industry but shocked green activists.
Nifty snaps 10-day winning streak
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances