The divestment ministry said on Thursday that the inter-ministerial group on the divestment of Bharat Petroleum Corporation would meet next week to discuss the quantum of shares to be offered in the domestic and global markets.
Bharat Petroleum Corporation Ltd has posted a net profit of Rs 2330 million for the quarter ended December 31, 2002 as compared to Rs 719 million in the quarter ended December 31, 2001
Disinvestment Minister Arun Shourie said Tuesday the SEBI has initiated an investigation into the fall of share prices of BPCL and HPCL.
Petrol price on Wednesday touched a new high of Rs 84.45 per litre in the national capital after state-owned fuel retailers hiked prices after a five-day hiatus. Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies. In Delhi, petrol now costs Rs 84.45 per litre and diesel is priced at Rs 74.63. In Mumbai, petrol comes for Rs 91.07 a litre and diesel for Rs 81.34. This is the highest ever price of petrol in Delhi, while diesel is at a record high in Mumbai.
The fall in crude prices has added to the gains.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Processes are at an advanced stage for a number of assets of the Centre and central public sector enterprises (CPSEs) to be monetised. The assets include office space, apartments, factories, land, power transmission assets, sports stadia, gas pipelines, and telecom assets.
Finance Minister Nirmala Sitharaman on Tuesday said the upcoming Budget for 2021-22 will sustain the momentum of public spending on infrastructure and have a "vibrancy" to ensure the economic revival continues. She also said the pace of divestment, which has been hit by the COVID-19 pandemic, will pick up in the coming months. "We shall definitely sustain the momentum of public spending in infrastructure. Because that is the one way we assure that the multipliers will work and the economy's revival will be sustainable.... "I am conscious that the forthcoming Budget will have a vibrancy that is so required for the economy's revival, sustainable revival," she said at the Assocham Foundation Week. The Budget for the 2021-22 fiscal is expected to be tabled in Parliament on February 1.
As many as 20 central public sector enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday.
Govt was vary of giving BJP-leader and Gujarat Chief Minister Narendra Modi any kind of advantage on the eve of elections in the state.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Referring to Modi, Adityanath and Union Home Minister Amit Shah as 'outsiders', the farmer leader said he has no objection if they become prime ministers after winning polls from Uttarakhand or Gujarat.
Automobile company Tata Motors, metals and mining major Vedanta, oil marketing firm Bharat Petroleum Corporation (BPCL), private sector IndusInd Bank, and two-wheeler major Bajaj Auto have witnessed their market cap slip below the Rs 1-trillion mark this year.
Oil marketing companies IOC, BPCL and HPCL have invited expressions of interest from start-ups that wish to be enrolled as fuel entrepreneurs for doorstep delivery of high-speed diesel through mobile petrol pumps.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Indian Oil Corp is unlikely to bid for a share in six new pipelines being built by Reliance Industries to transport fuel from its refinery to its planned chain of petrol stations.\n\n\n\n
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
A recent survey by Harvard Business Publishing, where 24 companies have been interviewed, says gaps in an organisation's leadership pipeline have emerged as the biggest human resource (HR) challenge.
A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry and Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
The government has been pressing citizens to pay taxes and be compliant, but they have very little to show regarding improved efficiencies in the companies they themselves own, the fund managers said.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Bharat Petroleum Corporation (BPCL) on Tuesday hiked petrol prices by about Rs 2.96 a litre effective midnight tonight, and other state-owned oil companies IOC and HPCL will follow suit on Wednesday.
This is the first time that petrol sales in the world's third-largest oil importer have risen since the March 25 nationwide lockdown crippled economic activity and sent demand plummeting.
Petrol price on Saturday breached the Rs 83 per litre-mark in Delhi for the first time in more than two years after a rally in international oil prices forced a 13th increase in rates in the last fortnight. Petrol price on Saturday was raised by 27 paise per litre and diesel by 25 paise, according to a price notification of oil marketing companies. Petrol price in Delhi rose to Rs 83.13 per litre from Rs 82.86. Diesel rates went up from Rs 73.07 to Rs 73.32 per litre.
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.
'If we want to ensure this isn't a once-in-four-decade phenomenon, then we have to produce 1,800 players all the time, create infrastructure, so that we are constantly challenging at the top of the ladder.'
A bonus is given to existing stockholders in proportion to the number of shares they already hold.
Indian Oil Corporation is India's only Fortune 500 company.
Many believe that marketing budgets could be a hurdle.
This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (Rs 12,126.75 per kl) on June 1. Simultaneously, petrol and diesel prices were hiked for the 10th day in a row.
The employees unions of Hindustan Petroleum and Bharat Petroleum said on Tuesday that they will strike work for three days starting March 25 in protest against the proposed privatisation of two oil majors.
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
Understanding how money works is the first step toward making your money work for you, says Harshad Chetanwala, co-founder MyWealthGrowth.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
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