For BCPL's branded petrol, Speed, the price differential with regular petrol is now between Rs 2.74 and Rs 3.75 per litre.
After getting Indian Oil Corporation, the nation's largest oil firm, to drop four independent directors and Engineers India Ltd to boot out two, it is now seeking to sack former Power Secretary P Uma Shankar, chartered accountant S Ravi and former BPCL Chairman R K Singh from the board of ONGC.
Advantages are not being leveraged fully mainly because of lack of funds, say experts.
The government on Thursday sanctioned Rs 17,772 crore (Rs 177.72 billion) cash subsidy to fuel retailers like IOC to cover for half of the revenues they lost on selling diesel and cooking fuels below cost in the September quarter.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
The progress of the GST Bill in Parliament is also likely to remain in focus
Inclusive of the July hike of 25 paise, a monthly increase of similar amount would result in a saving of Rs 2.25 a litre for the current financial year alone.
The 30-share Sensex ended down 538 points at 26,781 and 50-share Nifty ended down 152 points at 8,067.
The government allocated Rs 650 billion for petroleum subsidies in FY14, of which Rs 450 billion was used to pay oil marketing companies for the subsidy gap incurred in the previous financial year.
Indian basket at 6-month low of $49.11 a bbl
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
These firms offer job security and lucrative salries.
Saudis are interested in expanding their relationship with India, given it is becoming the main driver of crude demand growth in Asia
Markets ended in green on rate cut hope.
At least 8 people have died after a blast ripped through the Gas Authority of India Limited site at Nagaram village in Andhra Pradesh.
Markets crashed due to domestic worries; bluechip stocks tanked too.
Oil imports are a third of India's total import bill.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
#GiveItUp but no matching LPG connections for BPL
ONGC is raising debt for a spate of acquisitions over the past year
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
Govt diverts Rs 253-crore subsidy savings to the poor.
The run-up to next year's general elections might see some of the top executives of government-run companies getting unlucky. And, the period could become the best in the lives of those waiting in the wings.
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
Fresh investments by corporates up just 5.8% in FY17, lowest since 1992
According to estimates, if the companies are not allowed to raise petrol rates at least Rs 5 a litre by the first fortnight of September, they might begin to suffer underrecoveries on this decontrolled auto fuel, too -- for the first time this financial year.
Analysts are enthused by BPCL's upstream foray and have re-rated the stock in the past couple of years.
The latest round of petrol and diesel price increase, on Thursday, met with opposition from many corners.
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
Most analysts expect growth in the sales of Nifty-50 companies to decelerate, albeit marginally, in the quarter ended December compared to the corresponding period of 2013-14, with metals and real estate companies pulling down earnings.
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
I admire Kejriwal's intelligence but pity the fact that he had to use all the ingenuity and scheming to achieve his revenue enhancement goal, says Sudhir Bisht.
The fall in international oil prices had resulted in six consecutive reduction in petrol prices since August and two in diesel in the last one month and there was possibility of another round of cuts this weekend.
The companies' underrecoveries stood at a whopping Rs 1,39,869 crore last financial year. Of that, Rs 62,837 crore was accounted for by diesel alone.
These refineries, commissioned mostly in the 1950s and 1960s during India's early industrialisation push, are inefficient and costly to maintain compared to their modern counterparts on the coast mainly operated by private companies.
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Investment can only be by prospective dealers.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
Oil firms' borrowings could fall by up to Rs 15,000 cr, govt's subsidy bill by 12% .
More and more corporates are appreciating Mahatma Gandhi's books as gifts.
IDS-2 and raids to uncover black money stash keep receipts flowing
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