The government on Monday fixed the issue price of the share at Rs 1,050 per share, raising about Rs 4,982 crore (Rs 49.82 billion). The public issue of OIL, which closed on September 10, was subscribed nearly 31 times, generating demand for shares worth over Rs 85,576 crore (Rs 855.76 billion).
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
Whatever be India's course of action, it will have an impact on India-Iran ties, notes Aveek Sen.
Indian Oil Corporation, the nation's largest refiner, has lost out in the race for acquiring French company Maurel & Prom's stake in oilfields in Congo.
Banks in talks with temple trusts to push gold scheme
Making sense of the international crude market is incredibly hard.
Those on the lookout for a fun, practical and convenient compact SUV will not be disappointed by the Ford EcoSport.
The scheme calls for banks, refineries and hallmarking centres to work together.
Iraq has invited Indian Oil Corporation, the country's largest oil refiner, to set up refineries in the war-torn country, and also participate in other downstream projects, a government statement said.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
'Indian and Iranian sources both confirmed to me that India and Iran are moving ahead to implement a payment system on buying oil from Iran and hope to finalise it very soon,' says Aveek Sen.
Essar Communications mandates four international banks to arrange a fully-underwritten $3.59 billion term loan
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
Oil firms' borrowings could fall by up to Rs 15,000 cr, govt's subsidy bill by 12% .
Veteran space scientist G Madhavan Nair said on Tuesday that Indian Space Research Organisation's unsuccessful bid to soft land on the moon is nothing to be alarmed about, and it would only enable the space agency master complex missions going forward.
The Fortune 500 company -- it recently improved its rank to 135 -- has identified forward integration into petrochemicals as its next big business opportunity.
Referring to first Prime Minister Jawaharlal Nehru as the one who built modern India, Mukherjee said that he had helped build an atmosphere of free debate and discussions and not conflict and confrontation.
Tatas have joined hands with state refiner Indian Oil and exploration firm Oil India Ltd to consider bidding for acquiring Caspian Energy Group LLP's (CEG) interest in an Azerbaijan oil field.Tata Petrodyne Ltd, a wholly-owned subsidiary of Tata Sons, has joined the IOC-OIL combine to make a bid to buy CEG's 51 per cent stake in the Shivran Oil Operating Company that runs the Kyurovdag oil field in Azerbaijan, industry sources said.
The positive impact of the February 14 hike in petrol and diesal prices on oil marketing companies has been negated in just a fortnight with daily retail losses of these companies going back to over Rs 410 crore (Rs 4.1 billion) for the fortnight ended February 29. This is due to the steep rise in global crude prices in recent days. The retail prices were hiked by Rs 2 per litre for petrol and Re 1per litre for diesel.
India is the 4th largest oil consumer after the US, China and Japan.
Vodafone's operating loss from India business jumped to 692 million euros in April-September from 133 million euros in the same period last year.
The Reliance juggernaut is back in action with a $20-billion-plus investment plan.
As part of its efforts to make Indian firms globally competitive, the government has allowed refiner Indian Oil Corporation and exploration firm Oil and Natural Gas Corporation to set up oil trading and risk management desk.\n\n\n\n
Domestic oil companies have been invited by countries like Yemen, Nigeria and Saudi Arabia to pick up stake in existing refineries and also set up greenfield units.
State-owned refiner Indian Oil Corp and its exploration partner Oil India Ltd plan to bid for two onshore oil and gas exploration blocks in Myanmar.
The government will take home Rs 4,022 crore (Rs 40.22 billion) by way of interim dividend bonanza declared by the state-owned oil companies in the last one week.
The sharp rise in oil prices is threatening to derail not only the long-term expansion plans of government oil marketing companies, which control over 95 per cent of the market, but also their day-to-day operations.
The petroleum ministry has projected a strong year for the oil marketing companies though the largest exploration company, Oil and Natural Gas Corporation, is projected to post a moderate gain in its bottomline.
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
The Indian economy is expected to have grown at 9.08 per cent in 2007-08, as against 9 per cent reported earlier, Finance Minister P Chidambaram told Parliament on Tuesday even as the UPA government won the trust vote in the Lok Sabha to remain in power.
The bank has agreed to provide up to $1 billion to Tata Steel's special purpose vehicle, Tata Steel UK, to refinance $7.2 billion of bridge loans taken for the biggest buyout by an Indian company.
Indian Oil Corporation plans to invest about Rs 25,000 crore (Rs 250 billion) for setting up a new 15 million tonnes refinery and petrochemicals complex at Ennore in Tamil Nadu to maintain its position as India's largest refiner.
The Finance Ministry has sought comments from stakeholders.
The new missile is capable of delivering nuclear and conventional warheads up to 350 km.
The government shouldn't hide behind the veil of making a domestic giant out of the HPC-ONGC deal, rather it should just say it needs cash from this divestment exercise, says Sudhir Bisht.
The government also proposed promoting 'one product one district' for better marketing and export of horticulture crops. It also called on states for early implementation of three key central model laws on land leasing, agriculture produce and livestock marketing and contract farming.
Dr G Padma Vijay's latest book has recipes for all.
