US defence giant Boeing warned of a price hike in USD 2.5 billion deal if India does not finalise the contract soon.
The decision to hike US H-1B visa application fee to $100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said.
The rising rupee over the last three months has brought cheer to the oil marketing companies, who have together added around Rs 250-300 crore (Rs 2.5-3 billion) to their operating profits already.
Popular new models like Maruti Ciaz and Hyundai Elite i20 are reported to get dearer in a few days time.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price increase will raise the financial burden on cash-strapped carriers.
A hike in the prices of petrol and diesel is unlikely before June 15 as the Congress-led government does not want a showdown with its allies in the first session of Parliament beginning June 2.
Hyundai Motor India on Friday hiked prices of its premium small car Santro by Rs 10,500 to Rs 12,000 with immediate effect, company sources said.\n\n\n\n
With Opposition parties calling for a nationwide strike against the hike in fuel prices, Petroleum Minister Murli Deora on Wednesday justified the decision, saying the increase translated to less than Re 1 per day on domestic LPG and 26-27 paisa a day on kerosene.
The country's largest carmaker Maruti Suzuki India on Thursday said it will increase the prices of its vehicles across all models by up to Rs 20,000 from January due to increasing pressure on its margins due to currency fluctuation. Honda Cars India and Volkswagen India said they, too, are contemplating the same.
In a surprise move, the Ministry had on October 10 moved a note to the Empowered Group of Ministers opposing a hike in price of RIL's KG-D6 gas before April 2014 even though the company itself was not seeking a revision before that date.
Petrol, diesel prices hiked by Re 1/ litre
In a note for the Cabinet Committee on Economic Affairs, the ministry has proposed raising gas price for state-run firms immediately and that for RIL from April 2014, sources privy to the development said.
Opposing the steep hike in petrol prices and spiralling prices of commodities, National Democratic Alliance has called for a nation-wide bandh on May 31.
The Bharatiya Janata Party, Communist Party of India-Marxist, Communist Party of India, Samajwadi Party, Shiromani Akali Dal have decided to join forces to oppose the government's move to hike the diesel prices every month for the next one year and also increase the price of gas cylinders by Rs 50 to cut down the cost of subsidy.
ICICI Securities has estimated that the recent hike in fuel prices will result in a reduction of about Rs 26,000 crore (Rs 260 billion), or 40 per cent, in the subsidy burden of the oil marketing companies due to higher realisation.
According to Oil Ministry sources, price hike of diesel is being considered as the government scrambles to find ways to meet an unprecedented Rs 160,000 crore (Rs 1,600 billion) deficit expected this fiscal on selling diesel, cooking gas and kerosene below their production cost.
Reason behind for the change in his stance: gas price increase.
This is the third increase in two months
Amidst criticism on increasing prices of petroleum products, Prime Minister Manmohan Singh on Saturday got support from his wife Gursharan Kaur on the issue who asked people to make a 'sacrifice.'
The cabinet committee on economic affairs will meet this evening to decide on the prices of petrol, diesel, LPG and kerosene, petroleum minister Mani Shankar Aiyar said.
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The government's decision to raise fuel prices in June has scuttled the oil companies' plans to reduce their losses from retail fuel sales as consumers are buying less of premium fuels, which is more expensive than normal fuels.
A meeting of a ministerial panel headed by Finance Minister Pranab Mukherjee, to consider raising diesel price by at least Rs 2 a litre, was deferred twice last month and no new date has been notified yet.
Maruti Udyog on Friday announced a 0.2-0.75 per cent hike in prices of its main models and variants with immediate effect.
Domestic cooking gas (LPG) price was on hiked by Rs 3.46 per cylinder after the government raised the commission paid to dealers by over 9 per cent.
Aviation industry sources said some of the airlines were also planning to consolidate their flight schedules, by cutting some flights to certain select destinations. Indian carriers were also focusing on getting their products to a global standard and consolidating their domestic market, the study also pointed out.
Government-controlled oil-marketing companies (OMCs) have held back petrol and diesel price revisions for a week and are expected to continue doing so, ostensibly owing to political reasons. It appears that the Centre has informally conveyed to the three major OMCs to not revise fuel prices for the time being, two people in the government said. This informal directive follows the talks between the Centre and states on cutting taxes and bringing the auto fuels under the good service tax regime not fetching the desired results, so far.
Following the interest rate hike by a few leading banks and the government proposal to slap service tax on the realty sector, the country's largest real estate developer DLF on Monday said properties would turn dearer as developers would have to pass on the service tax burden to end-users.
The Indian cement industry is hopeful of greener pastures after a long period of stress led by pricing pressures and other factors. The second half of FY25 is expected to bring respite due to price hikes, cost benefits and higher volumes, said analysts. The optimistic momentum also makes cement stocks attractive, analysts added, advising to buy dips following a period of bearish sentiment in these stocks.
Prices of various car models -- ranging from entry-level hatchbacks to high-end luxury offerings -- are set to rise as automakers have announced price hikes with effect from January. Carmakers cite an increase in input costs and operational expenses as the main reason to implement price increases from the next month. Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units.
Oil companies on Thursday again hiked petrol prices by Rs 1.80 per litre to offset the fall in rupee that has made imports of crude costlier.
The increase in rates announced by oil firms is excluding state levies and the actual hike will be higher.
The stock of Bharti Airtel, India's largest listed telecommunications (telecom) services provider, recently hit an all-time high on expectations of higher average revenue per user (Arpu), a stable market setup, and fresh revenue lines.
After several years of consolidation and price weakness, the cement industry may be moving towards a more stable phase. Pan-Indian, average cement prices have risen through the past three months consecutively.
The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets its dairy products under the Amul brand, on Tuesday increased the prices of its Gold, Taaza and Shakti milk brands by Rs 2 per litre. The new prices will be effective from Wednesday, the GCMMF said in a statement. This price hike is being done due to an increase in the overall cost of operation and production of milk, it said.
In a major decision to bring petroleum products in line with market rates, the government on Friday freed petrol from all pricing controls and hiked diesel prices by Rs 2 a litre.
Amid the crisis in Libya, increase in fuel prices would become 'inevitable' if crude oil remains at $100 per barrel, Prime Minister's Economic Advisory Council chairman C Rangarajan said on Monday.
This is the second straight increase in jet fuel rates in as many months.
Petrol price was on Monday hiked by Rs 2.19 a litre and diesel by 98 paise per litre.
