'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
According to industry experts, the consumption of petroleum products in the month of April was only 30-40 per cent of what it had been prior to the lockdown. Due to this, refineries were forced to bring down their capacity too.
In Maharashtra, the oil industry had tenancy protection till 1999.
Since May 1, the dynamic fuel pricing model has been applied on a pilot basis in 5 cities
The top-100 wealth creators generated Rs 49 lakh crore during 2014-19, the highest-ever quantum of wealth added, according to Motilal Oswal's Annual Wealth Creation Study 2019. According to the study, Reliance Industries, Indiabulls Ventures and IndusInd Bank are the biggest, fastest and most-consistent wealth creators, respectively. The number of PSUs in the top-100 wealth creators is only nine, namely IOC, BPCL, HPCL, Power Grid Corporation, Petronet LNG, Indraprastha Gas, LIC Housing, Bharat Electronics and NBCC.
While seven companies bagged orders worth Rs 42,000 crore, industry experts said most of this new order activity was a spillover, and fresh project finalisation remains weak.
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
The price of petrol has risen by 83 paise per litre in the past nine days and diesel by 73 paise
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
Since UK referendum outcome to exit European Union last Friday, 32 companies have hit record highs.
"This is a big scam. The country is being looted. Please allow us to speak," Congress leader in Lok Sabha Adhir Ranjan Chowdhury said.
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
Embarking on a major promotional drive to popularise value-added products of coconut, the Coconut Development Board has tied up with BPCL to put up kiosks in petrol stations throughout the country.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 per cent, traders said.
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like Oil and Natural Gas Corporation.
Analysts are enthused by BPCL's upstream foray and have re-rated the stock in the past couple of years.
Shankar Sharma of First Global says that earnings for HPCL, BPCL can quadruple, factoring in oil bonds.
If the reforms are implemented, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.
IOC has been forced to shut down its Digboi refinery in Assam and is operating Guwahati unit at minimal throughput, while OIL has been forced to shut LPG production and its crude oil production has dropped by 15-20%. Sources said the agitation has blocked the movement of tankers and trucks, which are mostly used to supply petrol, diesel and LPG from the refineries to different parts of the North East.
In the year to date, 61 PSUs have lost an average of 22 per cent, with five companies losing more than half their share value. The BSE PSU index is down 10.6 per cent.
In 16 days, petrol price has been hiked by Rs 8.3 per litre and diesel by Rs 9.46 - a record increase in rates of the fuel in any fortnight since pricing was deregulated in April 2002.
State-owned oil companies IOC, BPCL and HPCL are likely to post net losses in the first quarter of the current fiscal as a result of selling fuel below cost price.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
This is the second hike in diesel price this month.
Prime Minister Manmohan Singh on Monday pushed for phased rationalisation of energy prices to bring them in line with international prices to meet the targeted rapid inclusive and sustainable growth.
bp had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel stations owned by RIL for $1 billion.
Oil firms' borrowings could fall by up to Rs 15,000 cr, govt's subsidy bill by 12% .
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Investment can only be by prospective dealers.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
At a poll rally on Monday, Prime Minister Modi said the protests against the new citizenship law in Shaheen Bagh and other areas in New Delhi are not a coincidence but an 'experiment' ('sanyog nahi prayog') and a political conspiracy to destroy the country's harmony. Taking on the PM, Priyanka Gandhi said a report recently said 3.5 crore jobs have been lost in the last five years in seven important sectors.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
To help them make up for the revenue lost on selling auto and cooking fuel below cost.
India's fuel consumption slumped by over 66 per cent in the first week of April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said.
Jet fuel (ATF) price was on Monday hiked by a steep 56.5 per cent and that of non-subsidised cooking gas LPG by Rs 11.5 per cylinder on the back of firming up of international oil rates, but petrol and diesel prices continued to remain on freeze for a record 78th day. Aviation turbine fuel (ATF) price was hiked by Rs 12,126.75 per kilolitre (kl), or 56.5 per cent, to Rs 33,575.37 per kl in the national capital, according to a price notification by State-owned oil marketing companies.
Abhijeet Gupta's silver medal ended a long drought for Indians in the Open section of the Chess Olympiad. After a gap of 22 years -- the last one being Dibyendu Barua's gold medal on board two in Novisad 1990 -- an Indian won a medal for individual performance.
IndianOil Corp Ltd, for instance, saw a growth of around 22 per cent in volumes and nearly two per cent in its market share. It traded nearly 10,517 million tonnes (mt) of auto gas in December against 8,593 mt of auto gas in September.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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