The country's largest marketer of petroleum products is facing troubles in Sri Lanka, one of the two overseas markets where it sells fuel through its fully owned subsidiary, Lanka IOC. The other country is Mauritius.
The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.
Though figures of losses are yet to be ascertained, the local business community put them in crores.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
The measures government takes next to push economic growth will be the key for automotive sector
Processing fee waived on car, gold and personal loans till December
Cisco, the global leader in networking for Internet, on Tuesday announced their strategy to tap into India's fast growing small and medium businesses in auto component manufacturing, retail, textile and garment sectors.
Toyota's India unit will also source two cars manufactured by Maruti Suzuki, the Baleno and Brezza, including their hybrid variants, and in return Toyota will offer its Corolla sedan to Maruti.
Tata Motors is likely to launch the world's cheapest car as early as January 2008, turning a whole new chapter in the retailing of low cost vehicles.
Kwid has been a success in the country with the company having already retailed over 1.65 lakh units of the model since its launch last year.
In Delhi, petrol price down Rs 2.5 a litre, diesel by Rs 2.25
Infosys, Reliance Industries, TCS, HDFC, HDFC Bank, Maruti, SBI, IndusInd Bank and Kotak Bank led the gains on the Sensex, rising up to 2.53 per cent.
The S-Cross will be available only in diesel engine options of 1.6 litre and 1.3 litre.
The Sensex finally closed with a gain of 52 points at 7,944 on the first day of the Samvat year 2062.\n
The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
Aramco also plans to invest in building India's largest oil refinery on the country's west coast.
From discounts to hundred per cent financing to talks of a price hike, companies are doing everything to ensure retail sales pick up this month.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
'At any given point in time, we expect only 25 per cent of our workforce will need to be in office.' 'And any given person will only be required to spend only 25 per cent of their time in office.'
'The government's projections for 2019-2020 will be disappointing big time.'
Though Hero still leads by a wide margin in annual and monthly sales, for the first time, Honda has considerably bridged the sales gap with the Pawan Munjal-led firm in April lagging only by 12,134 units
'Usually, customers who don't get loans from banks approach NBFCs.' 'This is one reason NBFCs price their loans costlier than PSBs or private banks.' 'NBFCs will have higher delinquencies levels than private banks for most products.'
The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating strong investor optimism after a prolonged spell of caution.
ICICI Bank is planning to increase its home loan rates by 50 basis points "anytime before the end of the current fiscal".
This is the index's biggest single-day fall in almost a month
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
The broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
Global cues lift Sensex 364 points; Nifty ends above 8,650.
Tata Motors was the worst performer on the Sensex, plummeting 10.32 per cent to Rs 436.55 after the company reported a steep 96.22 per cent decline in consolidated net profit for the December quarter.
After paring some gains, the 30-share index settled at an all-time closing high of 28,008.90, up by 98.84 points, or 0.35 per cent, over the previous close.
The broader 50-issue NSE Nifty dropped 38.35 points, or 0.38 per cent, to close at 10,186.60
