Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
Among the Sensex firms, HDFC Bank emerged as the biggest loser, falling 4 per cent. JSW Steel, Reliance Industries, UltraTech Cement, Maruti, Tata Steel, Wipro, Tech Mahindra, Bharti Airtel and Larsen & Toubro were the other major laggards. Power Grid, Asian Paints, Sun Pharma, Axis Bank, NTPC, ITC and Infosys were among the gainers.
In another development, SBI Capital Markets, which had issued the expressions of interest on April 8, extended the deadline for submission of initial bids to April 12.
The United Nations nuclear watchdog is contemplating to set up a reserve nuclear fuel bank for supplying fuel to countries, which have renewed interest in expanding their atomic energy programme.
India on Monday signed a path-breaking broad-based agreement in the civil nuclear field with Russia, which will ensure transfer of technology and uninterrupted uranium fuel supplies to its nuclear reactors, and inked three pacts in the defence sector. The agreements were signed after talks between Prime Minister Manmohan Singh and Russian President Dmitry Medvedev at the Kremlin in Moscow, during which they discussed a whole range of issues.
RIL said the Anil Ambani group firm "does not have a single power plant since the demerger (of the Reliance empire) and the ADAG owns just one gas-based plant."
Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody's Investors Service said. Three state-owned fuel retailers -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 18 months in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in first half of 2022-23 fiscal year before easing oil prices propelled them to profitability.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
To meet fuel supply commitments to the power sector, the government today said CIL might divert a portion of the coal meant for e-auction to power plants.
Incumbent DMK MP T Sumathy alias Tamizhachi Thangapandian will face-off former Telangana Governor and BJP leader Tamilisai Soundararajan, while the the AIADMK has fielded ex-MP Dr J Jayavardhan, who won from here in 2014.
Claiming that the Nuclear Suppliers Group had 'reneged' on its waiver on nuclear fuel supply to India, Bharatiya Janata Party on Tuesday accused Prime Minister Manmohan Singh of betraying the nation on the Indo-US nuke deal and asked him to clarify how it is beneficial to the country.
Five states -- Maharashtra, Haryana, Rajasthan, Punjab and Gujarat -- face a massive power crisis.
The external affairs minister said the SAARC is in trouble as one of its members has been supporting terrorism.
The agreement will form the basis of wide-ranging bilateral cooperation from basic and applied research to full civil nuclear cooperation, including reactors, nuclear fuel supply, nuclear safety, radiation and environment protection and nuclear fuel cycle management, officials said. The nuclear agreement and the social security pacts were signed after the Summit meeting between Prime Minister Manmohan Singh and French President Nicholas Sarkozy at the Elysee Palace in Paris.
"We have been very clear with the Indians, should India test, as it has agreed not to do, or should India in any way violate the IAEA safeguards agreements to which it would be adhering, the deal, from our point of view, would, at that point, be off," Burns pointed out.
Financial services majors Citi and HSBC said the long awaited government decision to hike fuel prices is a positive step, although it will fan the already high inflation and may not prevent fiscal slippage.
Concerned over the fuel shortages and petrol pumps running dry, the government said on Friday it would deploy central forces to ensure supply lines are not dried due to the ongoing strike by oil sector executives. "The government will deploy central forces wherever necessary," petroleum secretary R S Pandey told reporters even as petroleum minister Murli Deora met Prime Minister Manmohan Singh to brief him about the strike by officers of oil PSUs.
Automobile manufacturers said Euro-VI grade vehicles will not hit the roads before 2020 but the advancement gives them confidence to make investments in manufacturing such vehicles.
Vegetable rates may ease from September, led by tomato prices, which have started showing signs of correction on the back of increased supply, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday. "Looking ahead, the spike in vegetable prices in July is starting to see a correction, led by tomato prices. "New arrivals of tomatoes in mandis are already softening the prices, coupled with proactive supply management in the case of onions.
The Parliamentary Standing Committee on External Affairs favoured expeditious resumption of fuel supplies to the country's civil nuclear plants.
A driver who accidentally hits a person and subsequently informs the police or takes the victim to the nearest hospital will not be prosecuted under the stringent provisions of the recently enacted Bharatiya Nyaya Sanhita (BNS), a senior government functionary said on Tuesday.
Prime Minister Manmohan Singh returned to New Delhi on Tuesday after a three-day visit to Russia, during which the two sides signed a path-breaking civil nuclear agreement and three defence pacts. Dr Singh had met Russian President Dmitry Medvedev and Prime Minister Vladimir Putin on Monday and discussed a wide range of issues, including terrorism. On Monday, the two sides signed a path-breaking civil nuclear agreement that will guarantee uninterrupted uranium fuel supplies.
India and Russia underlined their determination to deepen their "time tested" relationship on Monday, as they inked a path-breaking civil nuclear agreement that will ensure transfer of technology and uninterrupted uranium fuel supplies to its nuclear reactors and signed three pacts in the defence sector.
'India is the sixth-largest market for the Kia Corporation, and contributes 8 to 9 per cent to our global sales.' 'We are eyeing 10 per cent market share over the next few years depending on customer demand and new product innovations.'
The Reserve Bank on Friday retained the inflation forecast for 2023-24 at 5.4 per cent, and vowed to take timely measures to prevent any spillovers of global food and fuel price shocks. Stressing that the Reserve Bank has identified high inflation as a major risk to macroeconomic stability and sustainable growth, Governor Shaktikanta Das said the September retail inflation number may be lower than August and July prints. The headline inflation based on Consumer Price Index (CPI) moderated to 4.6 per cent in first quarter of 2023-24 as compared to 7.3 per cent in the same period a year ago.
Pranab Mukherjee said India will undertake the civil nuclear cooperation with the US and any other country on the basis of bilateral agreements only and that the government has "no doubt" that Washington will fulfil its "commitments and obligations" specified in the agreement.
State-run oil firms will supply Euro-IV grade petrol and diesel in 13 big cities and Euro-III complaint petrol in rest of the country from April 1 but supply of the cleaner diesel to rest of the country may be delayed by three to six months.
Adani Enterprises has emerged as the lowest bidder in Coal India's tender for imports of the dry fuel with quoting over Rs 4,000 crore for supply of 2.416 million tonne, even though the miner is likely to "negotiate the price", an official said on Monday. A negotiation for the quoted price may take place as the gap between the lowest bid value and the miner's own estimates of Rs 3,100 crore is in excess of around 30 per cent, he said. "Adani's bid is the lowest but it is Rs 900 crore more than the Coal India's own estimate.
Wholesale price-based inflation rose to an eight-month high of 0.26 per cent in November, driven by a sharp jump in food prices, especially onion and vegetables. The WPI inflation was in the negative or deflationary zone for the past seven months since April and was at (-)0.52 per cent in October. The last positive WPI inflation was recorded in March at 1.41 per cent.
India on Friday made it clear that the civilian nuclear cooperation with the United States will be guided only by the 123 agreement which, when operational, will become a 'legal' document in accordance with well-recognised principles of international law and Law of Treaties.
The recent price correction in broader markets has hit cement companies hard. So far in the current month, smallcap firms like Visaka Industries, Andhra Cements NCL Industries, Sahyadri Industries, and KCP have lost 19.7 per cent, 14.3 per cent, 13.8 per cent, 13.5 per cent, and 11.5 per cent, respectively. On the contrary, largecap companies, while registering losses for the month, have seen a softer blow.
The proposed India-United States nuclear agreement provides undefined India-specific safeguards and fails to explicitly state whether the US nuclear trade will terminate if India conducts a nuclear test.
Agreements may provide rights but this does not mean asserting them or implementing them will be easy. India may consider itself to be on firm legal ground in invoking Paragraph 29, for example, in order to deal with the consequences of a fuel supply disruption, but the political opposition it will encounter internationally could be formidable. Some of this political opposition could even be couched in legal terms.
SpiceJet grounded all its aircraft due to payment woes
While consumers have enjoyed lower fuel prices, producers have cut spending and thousands of jobs
Jet fuel (ATF) price on Tuesday was hiked by 4.2 per cent but that of commercial LPG used in non-residential establishments such as hotels and restaurants was cut by Rs 115.5 per 19-kg cylinder reflecting global energy trends. Aviation turbine fuel (ATF) price was hiked by Rs 4,842.37 per kilolitre, or 4.19 per cent, to Rs 120,362.64 per kl in the national capital, according to a price notification of state-owned fuel retailers. This reverses a 4.5 per cent cut in jet fuel prices affected last month.
Oil and Natural Gas Corporation has decided to sack 64 striking executives. This was stated by the petroleum secretary R S Pandey on Thursday.
Fuel supplies in many parts of the country were affected on the second day of the indefinite strike by oil PSU executives that also resulted in refineries running below capacity and impacted oil and gas production.
