As stringent sanctions imposed by the European Union and US are crippling business and trade, desperate Russian oil companies are offering huge discounts to India, provided a payment mechanism to bypass the SWIFT ban is quickly approved by the government. According to sources familiar with the development, Russian oil firms are offering 25-27 per cent discount to the dated Brent crude prices. State-run Rosneft is one the biggest oil companies that supply crude to India.
Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
However, investors have turned cautious over the likelihood of Britain leaving the European Union.
Stocks of public sector companies, especially the oil refining and marketing companies (OMCs) - Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOC) - logged gains on Tuesday in a weak market. While the Nifty lost nearly 1 per cent in trade on Tuesday, the Nifty CPSE index - a gauge of performance of central public sector enterprises on the National Stock Exchange (NSE) - gained over 3 per cent in intra-day trade. The rally in PSU stocks comes on the back of the BPCL chairman, Arun Kumar Singh suggesting in the company's annual general meeting (AGM) on Monday that the government intends to complete the divestment process in the OMC by March 2022.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
According to the decision, such entities can now first operate through e-commerce and then open brick-and-mortar stores.
This is the first time India is offering coalmines to private companies for commercial sale.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The Modi government believes the industrialist, the capitalist, has to pay for the assets of the government which belong to the people of India.'
Unfazed by the stalemate over the Sadhvi Niranjan Jyoti issue, government has lined up a heavy legislative agenda in Parliament this week including a bill seeking to replace coal blocks allocation ordinance.
The Hockey Junior World Cup Men is scheduled to take place from December 8 till December 18, in Lucknow, the International Hockey Federation (FIH) on Thursday confirmed.
As coal stocks at thermal plants fall to critical levels, economic recovery could be hi.
The Supreme Court judgement will hopefully ensure that those in power and authority will hesitate before allotting precious natural resources that belong to each and every citizen of the country in an arbitrary and corrupt manner, says Paranjoy Guha Thakurta.
The S&P BSE Sensex has gained 149 points to open at 25,802.
'When I was toying with 10 different ideas, my father was diagnosed with lung fibrosis and his condition deteriorated so badly that we lost him in six months. He was very unsatisfied with the lack of proper diagnosis.' 'It made me think will anyone do a biopsy if there is no symptom? Why is it that we do not have any non-invasive diagnostic method?' 'This idea was the strongest out of the ten, and with Snahlata Singh with her cancer biology background joining me, the idea got a real boost.'
P Chidambaram says all options are on the table.
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
'I would put my hand in the ground and have a little listen to what the mountain was doing.' 'Actually, it was still collapsing.' 'And there was a very real possibility that at some stage, without warning, the collapse could continue -- and continue across us, the people who were doing the rescue and also across to the men on the other side, who were being rescued.'
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
It is developing ash parks at Varanasi, Raipur, Pune and Cuttack, to make it available to ash-based product manufacturing units at these centres. It recently signed an agreement with NHAI for supply of ash for use in road construction.
The insurer is a venture between banking major ICICI Bank and the UK's Prudential Corporation Holdings. Singapore's Temasek and Premji Invest are also the shareholders.
Not only do you need an effective and independent regulator, you also need competition to flourish.
Over 18 crore workers are expected to participate making this a much bigger strike than last year.
Top losers include Hero MotoCorp, HDFC, SBI, Infosys, HCL Tech, ICICI Bank, Bajaj Finance, ONGC, Bajaj Auto and IndusInd Bank, falling up to 2.63 per cent.
'Pollution acts as an endocrine disruptor.' 'When it acts as an endocrine disruptor it has an effect on the endocrine system of the human body and the effect on the pancreas is an important one.' 'The way you get type two diabetes is due to two defects.' 'One is the pancreas doesn't produce enough insulin.' 'The other physiological defect is insulin resistance.'
Raw material prices had been on the rise, but since Russia waged war on Ukraine, prices have surged.
The NSE Nifty settled the day 96.80 points, or 0.94 per cent lower, at 10,224.95
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
In the Sensex pack, Hero MotoCorp, IndusInd Bank, Bajaj Auto, Maruti and M&M were the top gainers, spurting up to 2.66 per cent.
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29 to protest against the government policies affecting workers, farmers, and people.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
He was the mastermind in laying many an ambush, triggering bomb blasts and other subversive activities.
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
Top gainers in the Sensex pack include Yes Bank, TCS, Infosys, IndusInd Bank, HCL Tech, Bharti Airtel, HDFC, Sun Pharma, Bajaj Auto, ICICI Bank, Vedanta, Hero MotoCorp, ITC, Bajaj Finance, M&M and Tata Steel, surging up to 3.24 per cent.
With a narrow industrial base and dysfunctional politics, and a counter-productive national security agenda, Pakistan could well remain an 'international migraine', observes T N Ninan.
No government can 'ignore inclusiveness in a democracy', Montek Singh Ahluwalia tells Anjuli Bhargava.
"Independence means if government has done something wrong, you say it's wrong. But at the same time, you should have courage when the government is doing the right thing every day. You have to also say that," he Gautam Adani was quoted as saying by FT.
