Describing DBT for LPG as a 'tremendous success,' Oil Minister M Veerappa Moily said the programme, when implemented throughout the country, would help save Rs 8,000-9,000 crore (Rs 80-90 billion) of subsidy from going to unintended beneficiaries.
Markets will remain closed on Thursday, 12 November 2015 on account of Diwali Balipratipada.
Sensex in green in afternoon trade.
M-cap of 35% of BSE-500 companies, excluding financial ones, is below their debt or just a shade above
The 30-share Sensex closed down 115 points at 28,444 and the 50-share Nifty ended down 31 points at 8,524.
Markets extended losses to end 1.5% down on Tuesday, amid weak global cues, after investors turned cautious ahead of key economic data and booked profits in rate sensitive shares while the further fall in the rupee continued to weigh on investor sent.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
Custom duties, a major concern for the oil sector.
Analysts say Tatas could sustain their current pace of growth, provided the group's "cash cows", such as TCS and Tata Motors, continue to deliver.
IT and pharma companies again save the day; mask pain in domestic consumption.
Although the current long-term bullish trend is intact, markets are awaiting clarity on the taper and the Assembly election results.
Re-instatement of 5% custom duty on crude imports will help.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
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