Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
Larsen & Toubro (L&T) will aim to invest $3-4 billion in green hydrogen projects, along with its joint venture (JV) partners, said a senior executive from the company. These investments are planned over three to five years, depending on cost economics. The engineering conglomerate is also in talks to acquire the Nuclear Power Corporation of India's (NPCIL's) share in one of its forging JV companies for a consideration of Rs. 100-150 crore. "We are considering investments worth $3-$4 billion in the green hydrogen space, in collaboration with partners," said S N Subrahmanyan, chief executive officer and managing director of the company.
Captain Deepak Thakur's brilliant hat-trick helped Indian Oil Corporation (IOC) rally brilliantly and beat Karnataka XI 4-3 in a quarter-final match of the DCB Presents Aga Khan hockey tournament - 2011, at the Bombay Gymkhana ground, in Mumbai, on Tuesday.
Truck drivers protesting against a provision in the new penal law on hit-and-run road accidents, called off their strike in Nashik district of Maharashtra on Tuesday after the local authorities assured to look into their demands.
As on December 31, government stake in IndianOil stood at 78.92 per cent.
State-run Indian Oil Corp is the biggest company in terms of revenue, followed by Reliance Industries, according to the Fortune 500 list of Indian companies for 2012.
Indian Oil and Indian Airlines scored big victories over Air India and Pakistan International Airlines in the Ranjit Singh hockey tournament.
'Disappointed to not get over the line today, but also very proud of the run I had.'
Indian Oil Corp, the nation's largest oil firm, will set up a Rs 10,000 crore (Rs 100 billion) nuclear power plant in association with Nuclear Power Corp of India Ltd.
Mukesh Kumar collected prize money of Rs. 1,62,000 while Rafick Ali and Yusuf Ali came joint second.
Refuting all the allegations, IOC has clarified that no monopolistic situation exists in supply and pricing of aviation turbine fuel (ATF) to airlines.
What follows is essentially a long scene set in a single location, and you watch in amazement as the scene grows into one of Indian cinema's funniest and most spectacular pieces of sustained craftsmanship, accumulating emotional power and subtext, growing wings and claws, becoming its own beast, applauds Sreehari Nair.
The former beat Air India while the latter got the better of Bharat Petroleum in the semi-finals of the Shastri hockey tournament.\n\n
The state-run oil company's Research and Development Centre singed an agreement with the National Centre for Catalysis Research of IIT Madras for the joint program on Monday.
A total of 1,016 candidates -- 664 men and 352 women -- have qualified in the examination and have been recommended by the Union Public Service Commission for appointment to various services.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
The Special Operation Group and the anti-terrorism squad of Rajasthan Police arrested Mohd Sirazudin, the marketing manager of IOC in Jaipur.
On the 25th anniversary of the battle that made his war cry 'Dil Maange More' part of national lore, we republish that feature to salute Captain Batra's ultimate sacrifice for the nation.
Shares of public sector enterprises have corrected by up to 22 per cent month-to-date until March 19, 2024. Analysts attribute this steep fall to the valuation exuberance seen after a sharp run in these counters last year and suggest investors remain selective regarding the stocks in this space. "The rally in public sector undertaking (PSU) stocks has been stretched and sharp, although it is somewhat justified by improvements seen in earnings, operations, balance sheets, and overall profitability.
Hindustan Petroleum Corporation's upcoming Bathinda refinery in Punjab has forced Indian Oil Corporation to reconsider its plans to expand its refinery at Panipat to 21 mtpa.
Struggling to meet budget targets, the government had in the just concluded fiscal asked cash-rich PSUs to pay second interim dividend as well as undertake share buyback.
OVL, IOC and OIL explored for oil and gas in Farsi block.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
West Bengal government, through its arm West Bengal Industrial Development Corporation, had decided to offload its shares (which included the controversial 155 million shares) following which IOC emerged as the sole valid bidder.
Investors shunned shares of oil marketing companies (OMCs) on Friday as they feared that the government's decision to cut retail prices of petrol and diesel could hurt the companies' profit margins in the near term. On Thursday, the government announced that OMCs will reduce pump prices of petrol and diesel after a record 22 months, making them cheaper by Rs 2 per litre in the national capital. The changes were effective from Friday.
At the current market price of the stock, that stake would be valued at about $1.5 billion.
The basket of crude oil India buys from overseas markets averaged $68.07 per barrel in September as against the August average of $71.98 a barrel.
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
Attractive pricing coupled with improving prospects make the offer lucrative
Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. "IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD," Morgan Stanley said.
The former beat Air India while Punjab and Sind Bank got the better of Indian Airlines in the semi-finals of the Gurn Tegh Bahadur hockey tournament.
India forward Prabhjot Singh scored thrice in a 5-1 victory in the Bombay Gold Cup hockey tournament.
An Empowered Group of Ministers headed by Finance Minister P Chidambaram had on February 28 decided to sell the stake in IOC, the nation's largest oil firm, at a discount of 10 per cent through an off-market deal.
The changes in the domestic and global economy following the outbreak of the Covid-19 pandemic are altering the corporate profit league table in India. Reliance Industries (RIL), which topped the India Inc profit chart for more than a decade, lost out to State Bank of India (SBI) in the 2023-24 (FY24) April-June quarter (first quarter, or Q1). India's biggest lender reported a consolidated net profit (adjusted for exceptional gains and losses) of Rs 66,860 crore during the trailing 12-month (TTM) ended in June this year, ahead of RIL's TTM adjusted net profit of Rs 64,758 crore in the quarter.
The Red Cross society has not taken kindly to its ubiquitous symbol being used by Indian Oil.
The country's largest marketer of petroleum products is facing troubles in Sri Lanka, one of the two overseas markets where it sells fuel through its fully owned subsidiary, Lanka IOC. The other country is Mauritius.
Companies are ranked by total revenues.
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
Indian imports of Russian oil plunged by a record in August month-on-month (M-o-M) as discounts on the fuel shrank in tandem with rising Brent oil prices. Higher crude prices will drive inflation or hurt earnings at oil companies and India's fiscal position if such spikes are not passed on to consumers. Indian purchases of Russian crude declined by around 24 per cent in August from July to the lowest level since January, with refiners expecting volumes to drop further amid rising rates of Russian benchmark Urals grade, substantial stocks at refiners, and planned maintenance at Indian refineries, according to ship tracking data and industry officials.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
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