Although the government has started phasing out the subsidy on diesel sale, it continues to supply kerosene and LPG cylinders at subsidised rates.
The company said it has begun intimating customers, who had retained their booking but are not among the first 100,000.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
India's biggest carmaker Maruti Udyog Ltd on Thursday announced an across-the-board price hike, though marginally by 0.38 per cent.
South Korean consumer goods major LG Electronics on Monday said it would increase prices of its home appliances by 3 to 5 per cent due to the fall in rupee.
Automaker Toyota Kirloskar Motor (TKM) on Tuesday said it will increase prices of its entire model range by up to 2 per cent with effect from October 1 in order to partially offset the impact of rise in input costs. The company, which is a joint venture between Japan's Toyota Motor Company and Kirloskar Group, sells a range of vehicles including Innova Crysta and Fortuner in the domestic market. The company will realign the prices of its models, with effect from October 1, 2021, TKM said in a statement.
The country's largest carmaker Maruti Suzuki India on Monday said it has hiked prices of hatchback Swift and CNG variants of other models by up to Rs 15,000. The price change for Swift and all CNG variants is owing to an increase in various input costs, Maruti Suzuki India said in a regulatory filing.
The government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official.
Hyundai Motor India said on Tuesday it will hike prices of its cars across all models between 2.3 per cent by January 2008 owing to rising input and freight costs. The official said the price rise was due to the rising input costs and freight cost. HMIL's product range starts from the flagship Santro, the base model of which is priced at Rs 2,70,000, while its top end Sonata Embera is priced at Rs 15,71,000.
Petrol will cost Rs 3.73 per litre more from today (Friday), while diesel prices have been increased by Rs 2 a litre. Also, your cooking gas cylinder will now cost Rs 35 more, while kerosene will be priced Rs 3 per litre more.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
ATF price in Delhi has been raised to Rs 53,309.30 per kilolitre from Rs 47,048.86 per kilolitre, an Indian Oil Corporation, the nation's largest fuel retailer, said. In Mumbai, the price rose by Rs 6,536.35 a kilolitre to Rs 55,191.58 per kilolitre.
The price of non-subsidised LPG, which customers buy after using up their quota of 12 subsidised cylinders, was raised by Rs 16.50 per 14.2-kg cylinder, the first hike in six months.
The company said the price rise is effective from April 4 across the country.
Prime Minister's Economic Advisory Council Chairman C Rangarajan on Thursday pitched for a "substantial" increase in prices of diesel and cooking gas, saying failure to take strong steps would derail the fiscal consolidation process.
For India to be atmanirbhar, domestic manufacturers cannot remain merely assemblers of imported parts. Manufacturing in India cannot survive on support of imports forever.
Pharmaceutical companies which increase prices of their medicines beyond 10 per cent in a year will face regulatory action.
Companies may maintain status quo on low monsoon demand, capacity addition.
The new rates, which are likely to be at $8-8.4 against the current price of $4.2 per million British thermal unit, are based on the recommendations of a committee that was appointed by Prime Minister Manmohan Singh at the request of Moily's predecessor, S Jaipal Reddy.
The latest hike is likely to be followed by another such move next month, said industry players. Before the latest hike, companies had initiated price hikes to the tune of 12-13 per cent in 2021 but they weren't able to fully cover the increase in costs.
The Left-leaning trade union CITU on Tuesday condemned the high-powered B K Chaturvedi Committee's call for raising fuel prices every month till they are in line with costs saying the panels' report should be outrightly rejected.
The petroleum ministry has said Reliance Industries Ltd (RIL) is not right in seeking an out-of-turn rise in the price of natural gas produced from the KG-D6 fields and asserted the $4.205 per million British thermal unit (mBtu) rate will prevail unless pricing formula is changed.
: Build lasting wealth via disciplined, long-term mutual fund investing in India's compounding marathon, Shanaihi, Shanaihi, says Ramalingam Kalirajan
From the Sensex firms, Tata Motors jumped the most by 5.54 per cent, followed by Kotak Mahindra Bank, Trent, Sun Pharma, Axis Bank, and ICICI Bank. However, Bajaj Finance, State Bank of India, UltraTech Cement and Tata Steel were among the laggards.
If the present state of affairs continues, the tourism industry is likely to lose business worth Rs 10-20 crore per week.
Home appliance maker Crompton Greaves Consumer Electricals reported better than expected performance in the second quarter (Q2) of 2024-25 (FY25), outperforming peers due to a strong showing in the electrical consumer durables (ECD) segment. The company's standalone sales rose by 10.5 per cent, while the ECD segment continued its growth momentum with a 12.5 per cent increase in revenues, driven by volume and pricing gains.
Petrol price was on Wednesday hiked by a steep Rs 3.38 per litre and diesel by Rs 2.67 a litre, reversing a two-month declining trend.
The government on Thursday put in motion a contingency plan to ensure reqular supplies of petroleum products for the next two months and said it would cushion domestic consumers in case global crude oil prices shoot up.
The government has slashed by up to 20 per cent the supplies of cheaper domestically produced natural gas to city retailers -- a move that may result in Rs 4-6 per kg hike in the price of CNG sold to automobiles, unless excise duty on the fuel is cut, sources said. Natural gas pumped from below the ground and from under the seabed from sites ranging from the Arabian Sea to Bay of Bengal within India is the raw material that is turned into CNG for sale to automobiles and piped cooking gas to households.
"These latest so-called 'Liberation Day' tariffs are reckless and self-destructive, inflicting financial pain on Illinois at a time when people are already struggling to keep their small businesses afloat and put food on the table."
Maruti Udyog Ltd said on Monday it will hike prices of its products by up to Rs 12,000 next month.
State-run oil companies on Wednesday raised prices of aviation turbine fuel, or ATF, for the third time in a month, this time by about 6.7 per cent, in step with international rates, which are firming up.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
Currency fluctuation has been affecting margins.
The Planning Commission on Saturday sought to play down fears that the hike in excise duty on petroleum products would lead to a surge in inflation.
State-run Gas Authority of India Ltd on Monday said the government's decision to raise natural gas prices by 12 per cent would not affect its profitability.
Price has increased from Rs 41.90 to Rs 45.60.
Hinduja Group flagship company Ashok Leyland on Tuesday announced a price hike of its entire range of commercial vehicles by up to Rs 50,000 on account of rising input costs with immediate effect.
