Re-instatement of 5% custom duty on crude imports will help.
Cairn joins a slew of multinational firms including Vodafone Group Plc and Royal Dutch Shell Plc that have been slapped with retrospective tax demands by Indian authorities.
Mayank Ashar, managing director and chief executive officer, Cair India, says the reform momentum should continue and the industry should do its part too.
After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
The sharp fall in oil price is positive for oil marketers as subsidy concerns reduce further.
Movement of rupee and crude oil prices will also dictate the trend
'It is my duty to give the govt the right price of crude oil.'
Cairn tax demand has not reduced investors' enthusiasm: Jaitley
Delhi and neighbouring Noida in Uttar Pradesh, too, are studying Gurgaon's no-car Tuesday model.
The company no longer sees the London listing as necessary to access capital and the deal will simplify Vedanta's corporate structure.
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
Sebi to fix promoters' side deals with PE investors
Gains were led by HUL on better-than-expected margins in March quarter and capital goods shares.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
Sensex in green in afternoon trade.
Inputs by the Petroleum Ministry were found among stolen documents.
Prayas Jain has been arrested for allegedly buying secret documents.
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
The S&P BSE Sensex has gained 149 points to open at 25,802.
The decline was led by index heavyweight Reliance Industries along with ITC and HDFC.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
Mixed global cues and decline in crude oil prices further dent the sentiments.
Interest rate sensitive stocks gain ground post decision
Promoters of 517 companies have pledged nearly 46.35 per cent of their shares, the highest since the 2008 global financial crisis.
The Delhi Police on February 20 arrested five corporate executives.
The broader markets are, however, outperforming the larger peer.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
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RIL had objected to the state government's decision to receive bids in sealed envelopes instead of an open auction.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
Markets ended in red, index heavyweights drag.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
A charge-sheet against Chandra and 12 others was filed.
While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
Delhi Police Crime Branch raided the office of a petrochemical co.
As the government began consultations with stakeholders on raising gas prices, gas producers and consumers met a committee of secretaries separately with their pleas on the issue.
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".
India is set to sign an agreement with the US to resolve transfer pricing disputes, which will then serve as a template for settling such rows with multinational companies based in the UK, France and other European countries.
Though the developments are positive, analysts say the benefits will accrue only in the long run
Rate sensitive sectors were among the top gainers with Tata Motors and ICICI Bank leading the gains on the Sensex.
Markets ended their lowest close in 2015 on fears of FII outflows as the US Fed may hike rates.
