Metal shares were the top gainers with Hindalco up over 5%.
In the past, the absence of commercially viable gas prices had not only discouraged high-risk new exploration activity but also hindered the development of some of the existing discoveries, such as the satellite fields in the Reliance Industries' eastern offshore KG-D6 block.
Benchmark indices finished higher on hopes of economic reforms
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
Oil and Natural Gas Corporation has deployed the best-in-class technologies in its Improved Oil Recovery and Enhanced Oil Recovery schemes on these fields.
The 30-share Sensex ended up 165 points at 29,044 and the 50-share Nifty gained 54 points to close at 8,834.
Decline in the rupee coupled with a slide in the crude oil prices have dented the sentiments.
'Unsurprisingly, the joint statement issued after Modi's visit contains a paragraph on terrorism.' 'It is on the usual lines that India would have with, say, Croatia.' 'The surprising part is that it shies away from getting into specifics,' points out Ambassador M K Bhadrakumar.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
Rumours of which tycoon is close to which minister will soon start floating, and those could affect prices in the short term.
Clauses on land return, action against officials diluted
Prime Minister Narendra Modi on Thursday said even though India's options have increased, Russia will remain the country's "most important" defence partner as Moscow offered to fully manufacture in this country one of its most advanced helicopters.
Piyush Goyal is leading a delegation to deliberate with Australia.
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
The group plans Rs 30,000-cr oil refinery with IOC; buys Lanco's Udupi power plant for Rs 6,000 cr
The known unknowns in Prime Minister Modi's Saudi visit assume great significance, says Ambassador M K Bhadrakumar.
Reliance Industries will have to provide a bank guarantee of $135 million every quarter to get a higher price for natural gas from April 1 next year.
India's imports from Iran rose to 250,200 barrels per day
The Sheikh Hasina-Narendra Modi summit put India-Bangladesh ties on a firmer pitch. Brigadier S K Chatterji (retd) takes stock.
Pakistan's demand for gas stands at 8 billion cubic feet while the current production is 4 billion cubic feet.
The reserves in Farzad-B are almost thrice the largest gas field in India.
Modi is likely to seek support of Switzerland and Mexico for India's membership of the 48-member Nuclear Suppliers Group as both these countries are key members of the elite group. The issue is likely to figure during Modi's meeting with Obama in Washington.
Cabinet may tweak Rangarajan formula; new price may be further delayed.
A fleet of eight JF-17 Thunder fighter jets -- jointly made by the two countries -- will escort the Chinese president once his plane enters the Pakistani airspace.
This is the lowest investment grade rating.
Budget proposals have set four goals to transform Indian Railways.
Andhra Pradesh now comes third in ease of doing business.
Auto and realty shares were among the top Sensex gainers.
Big ticket defence deals including purchase of missile systems, frigates and joint production of helicopters were sealed on Saturday.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
While the government had in June approved a new formula for pricing of all domestically produced natural gas, the Cabinet yesterday allowed the same principles to also be applied to Reliance Industries' currently producing fields in KG-D6 block subject to certain conditions.
The Centre has accorded top priority for cost-effective, pollution-free transportation modes, such as waterways, which reduce logistic costs and increase road safety. Union minister of roads, highways, ports and shipping Nitin Gadkari speaks to Sanjay Jog about the government's strategy.
If things work out, it will be a great leap forward in the Indian-Iranian economic ties in the new phase of Iran's reintegration with the world market following the lifting of sanctions, says Ambassador M K Bhadrakumar.
Import duty on PVC, at 7.5%, is far lower than that prevailing in comparable economies.
Amidst Finance Ministry raising prospects of forcing Reliance Industries to sell gas at old price of $4.2, Oil Minister M Veerapa Moily on Thursday said there was no rethinking in the government on the decision to double gas rates from April 1, 2014.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
Industry demands the basic customs duty on all steel imports to be raised to 25%
The ordinance has returned near absolute power of discretion in land acquisition, except in tribal areas, into the hands of the bureaucracy yet again
'The overall stress on asset quality is indeed coming down.'
'It is vital we should form an international coalition against ISIS, because their brutality and the use of the Internet for jihadist activities is a reminder that the entire world community has to be in this together,' US Congressman Ed Royce, chairman of the House Foreign Affairs Committee, tells Aziz Haniffa/Rediff.com in an exclusive interview ahead of Prime Minister Modi's visit.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances