The government on Wednesday ruled out privatisation of Indian Oil, Oil and Natural Gas Corporation and Gas Authority of India Ltd and assured all security concerns would be taken care of while divesting public sector oil
The Delhi High Court on Thursday dismissed a petition challenging the government's decision to divest equity in the oil public sector units HPCL and BPCL as the findings of the Supreme Court relating to privatisation of Balco came in its way.
The attorney-general is understood to have said that the government need not go to Parliament prior to privatisation of the oil PSUs.
Restructure oil PSUs on a selective basis: Pant
India Inc hailed the Railway Bugdet on Monday as promising and said measures, especially those on containers and freight services, will not only help the industry but benefit the general public as well.
This follows finance minister's directive that PSUs should not fall short of the announced intention to invest.
The Cabinet Committee on Divestment failed to take any decision on the divestment of public sector oil companies -- Hindustan Petroleum Corporation and Bharat Petroleum Corporation.
A decision on sale of government equity in HPCL, BPCL could be delayed beyond the Dec 7 deadline with PetroMin Naik stating he has no idea about the next CCD meet.\n\n\n\n
Madhya Pradesh has nearly 750,000 employees who would share the benefit of the pay hike.
Claim breach in procedure, demand probes; Reliance denies charge
Earlier this month, the corporate affairs ministry had written to various ministries including telecom, railways and steel seeking directions for public sector units under their administrative control for exempting Satyam from submitting audited balance sheets while bidding for projects of the state-owned firms.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
Monthly and seasonal suburban railway tickets purchased through digital mode will get 0.5 per cent discount from January 1
Prasad asked private operators to play a role in skill development.
IndusInd Bank was the top laggard in the Sensex pack, cracking around 10 per cent, followed by HDFC, Maruti Suzuki, Axis Bank and UltraTech Cement. On the other hand, TCS, Infosys, ITC and HCL Tech closed with gains. NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
'Internet, healthcare and life insurance are a few sectors which offer solid long-term decadal potential.'
The government is expecting to raise up to Rs 10,000 crore (Rs 100 billion) from the special dividend it has asked 16 public sector companies
Lines up seven OFS issues along with half a dozen IPOs for the next few months
The government has managed Rs 21,000 crore through stake sales and buybacks in the first six months, the highest-ever first half divestment revenue for any year by a good margin, raising expectations for the rest of FY17.
As per the budget document presented in Parliament, public sector enterprises, including banks, are expected to contribute Rs 88,188 crore in the form of dividend and profit to the government in the current financial year.
Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, India's biggest oil and gas producer ONGC may buy all of the government's 51.11 per cent stake in Hindustan Petroleum Corporation Ltd.
India's biggest companies are public sector undertakings (PSUs) in the oil & gas sector.
'Many already toe the line, those on the fence will be nudged to stand with the government even more, those who are critical will face trouble soon.'
The Niti Aayog vice chairman noted that green shoots of recovery are already visible in multiple sectors. In 15-16 sectors, businesses are coming back to pre-COVID levels," he said.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (Rs 12,126.75 per kl) on June 1. Simultaneously, petrol and diesel prices were hiked for the 10th day in a row.
The annual under-recoveries of state-run oil marketing companies have been estimated at Rs 1.1 lakh crore, the government told the Lok Sabha on Thursday.
The Petroleum Ministry on Wednesday sought over Rs 19,620 crore (Rs 196.20 billion) in compensation for state retailers Indian Oil, Bharat Petroleum and HPCL, which sold cooking fuels below cost in 2009-10 fiscal.
Govt looks at more taxes, dividends to meet deficit target.
These firms offer job security and lucrative salries.
Reliance Industries Ltd on Friday said it was not looking for extension of the marketing deal with public sector oil companies to lift production from Jamnagar refinery.
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
The huge reduction in the government's support for Bhavini has brought down the overall budgetary allocation for nuclear power schemes by 20 per cent.
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