Markets finished the session on a dismal note with Sensex closing at its lowest level since August 2014.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like Oil and Natural Gas Corporation.
At present, there is no direct air connectivity between India and Myanmar.
Iran has offered discounts on crude oil price and free shipping if India agrees to buy more of its oil.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
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The ETF is expected to fetch the govt Rs 3,000 crore.
The government on Friday cleared disinvestment in two bluechip state-owned companies IOC and Bhel, which would fetch over Rs 7,300 crore (Rs 73 billion) to the exchequer in the current fiscal.
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RIL had objected to the state government's decision to receive bids in sealed envelopes instead of an open auction.
Pharma shares extended losses after the government's ban on combination drugs.
Teheran bargains on OilMin plan for more rupee payment via increased import; wants investment deal on gas block.
Markets end almost flat, bluechips in focus.
Making sense of the international crude market is incredibly hard.
In the last fiscal, the government had originally budgeted a dividend income of Rs 27,178 crore (Rs 271.78 billion) from PSUs.
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
Their research paper on aid by rich nations got leaked
Markets gained for the second straight session to kick-off the September F&O series on a robust note.
India has already pipped Japan as the world's third-largest oil consumer.
Mukesh Ambani-led RIL, which had a cash chest and marketable securities worth over Rs 90,000 crore (Rs 900 billion) at the end of the last fiscal, is known for very effectively managing its financial resources by placing them in liquid instruments and highly rated securities.
Petroleum minister M Veerappa Moily would like to import 11 million tonnes of Iranian crude in this financial year.
OVL had bid for two of the 10 shallow-water blocks that Myanmar had auctioned in December but drew a blank when the fields were awarded on March 26.
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
The acquisition of stake in Progress Energy Resources Corp's shale gas assets and Pacific NorthWest LNG for 1 billion Canadian dollars ($900 million) marks IOC's maiden entry into North America.
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 Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
With the Petroleum Ministry opposing disinvestment of IOC in the market, government is exploring the option of selling its shares to other oil PSUs like ONGC and OIL.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
RIL has been selling gas from KG-D6 at the same price since it started production in April 2009.
Pooling will also kick-start projects of Reliance Power, Torrent, Lanco.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Institutional investors - both foreign and domestic - lapped up the government's big-ticket share sales on Friday, helping it add nearly Rs 9,000 crore to its revenue kitty.
The 30-share Sensex ended higher by 30 points.
Oil imports are a third of India's total import bill.
The Union Cabinet on Wednesday decided that 10 per cent of the government's stake in Coal India Ltd would be sold. Similarly, the sale of five per cent of its stake in ONGC and 11.4 per cent in the hydropower public-sector unit, NHPC, has been cleared.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
We are serious about setting up a bank and use the parent branding that is a household name in India, says Venugopal Dhoot.
A deal with the Assam government, which holds majority stake in the company through Assam Industrial Development Corporation Ltd, is likely by October.
Kotak Mahindra Bank and Vedanta were the top Nifty gainers.
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
