'Tinkering will not do. Merely staggering spectrum dues comes nowhere near solving the problem,' cautions Rahul Khullar.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
ONGC Videsh Ltd and its partners Indian Oil Corporation and Oil India Ltd have dropped plans to develop an oil field in Iran after the discovery was found to be commercially unviable.
Ruling out any plans to restructure the National Investment Fund (NIF), the government on Friday said the proceeds from divestment of the NHPC and Oil India Limited (OIL) will be credited to the NIF.
Dipam is conducting the selection of merchant bankers and legal advisors, and planning roadshows.
Falling crude prices and the global credit crunch have jeopardised India's efforts to attract more investment in oil exploration and production, with several domestic and international companies opting to sell part of their participating interest in E&P projects. Around half-a-dozen companies are currently in talks with exploration and production majors -- mainly state-owned Oil India and Oil and Natural Gas Corporation -- to farm out part of their stakes.
India on Wednesday announced auction of 46 small discovered oil and gas fields, holding about Rs 70,000 crore worth of hydrocarbon reserves.
Michael Tayo scored in the dying minutes to help Air India salvage a 1-1 draw against qualifiers Oil India Limited in a Group D encounter of the 30th Federation Cup at Vidyasagar Krirangan, near Kolkata, on Sunday.
After sharing the losses of state-owned fuel oil retailers, upstream producers may also have to pay income tax on the burden they take on their books.
On the NSE, Oil India opened with a premium of 4.38 per cent at Rs 1,096. The stock then climbed to Rs 1,127 a piece before skidding to Rs 1,090.
The state-run Oil India Ltd has raised a war chest $1.5 to 2 billion and is eying acquisition of small to medium sized oil producing companies overseas.
Against FY17 target of Rs 56,500 cr, Centre plans to fetch around Rs 6,400 cr in the first half.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
India has long been a leader in non-proliferation, stood side by side with all of us in the international community to say that Iran should not acquire a nuclear weapon," US Under Secretary of State for Political Affairs Wendy Sherman told reporters in New Delhi.
ONGC Videsh Ltd and its partners Indian Oil Corporation and Oil India Ltd had in 2009 dropped plans to develop the Binaloud oil find in the Farsi offshore block as it found one billion barrels of reserves commercially unviable.
ONGC and Oil India bought a five per cent each of the government's stake in IOCL, yielding Rs 5,340 crore (Rs 53.4 billion) to the government.
Valuation slips on rights cancellation; OIL pulls out, GAIL puts plan on ice.
Mumbai F C registered their fourth successive victory in the second division of the ONGC I-League, beating Oil India 3-2 in a Cluster III match at the Sahu stadium in Kolhapur on Monday. The victory put them on top the table with 12 points.
India Inc borrowed heavily in December.
Shares of NTPC slid as much as two per cent on the BSE in the early trade on Thursday as the government's 9.5 per cent stake sale of country's largest power producer commenced on the bourses.
The duo closes in on the stake put on the block by Videocon, US' Anadarko.
While oiling conditions the scalp, it will not stop your hair from falling nor will it accelerate the rate of hair re-growth, says Dr Apoorva Shah.
India will be hoping to put up an improved bowling show with their front line pacers Bhuvneshwar Kumar and Jasprit Bumrah back in action for the third ODI
As it gets ready for disinvestment of 10 per cent government equity through the offer-of-sale route in January, T K Ananth Kumar, director (finance), tells Jyoti Mukul the company is one of the cheapest explorers and producers of oil and gas, but awaits more predictability in the government-subsidy sharing mechanism.
Once all formalities are completed, the ONGC consortium will spend about Rs 1,700 crore (Rs 17 billion) on developing these three blocks, sources indicated.
Assam Rifles and J & K Bank will face off on October 26 for a spot in the main draw of the Osian's Durand Cup tournament in New Delhi.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
OIL, which had paid a total dividend of 190 per cent in 2011-12, in January declared an interim dividend of 110 per cent for the current fiscal.
BPCL and ONGC raised $4.9 billion in 2016-17 against $1.65 billion raised by Reliance
The Houston-based company is selling up to 50 per cent of its oil-sand reserves in Alberta. There are some producing assets and some exploration assets on offer.
"There are five Indian and six foreign companies which have submitted expression of interest (EoI) for buying stake in the gas transportation company (RGTIL)," a source privy to the development said.
As per the current market price, the government is expected to fetch Rs 5,300 crore (Rs 53 billion) by selling 10 per cent equity or 24.27 crore (242.7 million) shares at discounted price to Oil and Natural Gas Corporation and Oil India Ltd.
Burdened with the impact of subsidising the retail losses of downstream oil marketing companies (OMCs), Oil India Ltd has asked the Union government to take the average of the last five years' net profit for calculating the proportionate share of upstream companies, against the current practice of the last three years' average.
The bank has given an initial pricing of 240 bps over the US treasury for the 5-year money and 265 bps over the treasury for the 10-year bond, said the merchant banker, who did not want to be quoted as the deal is yet to be closed.
Divestment Ministry on Friday said it has received in-principle clearance from Petroleum Ministry and is going ahead with the sale of government equity in Oil India Ltd (OIL).
For starters, the Iran situation is sure to have an impact on crude oil prices, as the world has little spare capacity.
The two government upstream companies, along with GAIL, make good a third of the losses made by government oil marketing companies.
Senior policymakers say it is a tough task and the finance ministry may resort to the time-tested method of carrying forward part of the subsidy payment burden to the next fiscal year.
In the third acquisition in 10 months, state-owned Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) will buy Videocon Industries' 10 per cent stake in a giant Mozambique gas field for about $2.5 billion.
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