The company's market valuation stood at Rs 10,972 crore in morning trade.
A 14.2-kg LPG cylinder that consumers will have to buy after they exhaust their enhanced quota of 9 subsidised bottles in a year, will cost Rs 942 from today, according to Indian Oil Corporation.
'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
The government is selling its entire 100 per cent stake in Air India but wants effective control to stay with Indian nationals.
The government is selling over 18.62 crore shares or 3 per cent in Coal India at a floor price of Rs 266 apiece.
Fresh investments by corporates up just 5.8% in FY17, lowest since 1992
'I would want people to have food on their tables and their wages to rise.' 'Will that happen or not is the question that we need to ask and answer.'
Oil PSUs, which at the beginning of the fiscal were losing Rs 670 crore (Rs 6.7 billion) per day on selling diesel, domestic cooking gas LPG and kerosene at government controlled rates, are now losing Rs 372 crore (Rs 3.72 billion) a day, industry sources said.
With Coal India deciding to pay around Rs 16,485 crore as interim dividend, the government will be able to make up for the shortfall in the disinvestment target of Rs 40,000 crore for the current fiscal.
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
The tussle between the AAP government and the Centre escalated on Tuesday with the cancellation of appointment of nine advisors to Delhi ministers following the Union home ministry's directions which said these posts were "not sanctioned".
Low oil prices drove the growth in states' share faster than expected, says Abhishek Waghmare.
Noticing irregularities in coking coal purchases, the Steel Ministry has set up a committee to look into the rationale behind PSUs buying more of the commodity when it is expensive, and less of it when cheaper.
In another huge embarrassment to the government after the 2G fiasco, the Comptroller and Auditor General (CAG) has estimated a Rs 10.6 lakh crore loss to the exchequer on account of allotment of coal blocks during 2004 to 2009 without auction to 100 private and public sector companies.
In a bid to woo foreign investors, the Indian Railways is planning to organise road shows in select countries showcasing opportunities for investment in the rail sector.
The best available recourse to keep the defence sector healthy, is to source most of our requirement within the country so that procurement outlays under both the Revenue and Capital heads flow within the country, recommends says Brigadier S K Chatterji (retd).
The Communist Party of India (CPI) on Monday claimed that global software companies were being given "undue advantage" in sensitive IT projects of some key state-run bodies and the Indian Railways by designing tenders to suit them rather than their Indian counterparts.
Central bank likely to keep tabs on large wilful defaulters; policy likely by month-end.
An investment banker handling the PSU issues said, "When employees pick application forms, these typically have stamps of brokers. But there was no clarity who will bear the cost. Now with this provision, government will pay 25 bps. It is lesser than retail because there is often no marketing effort from the broker, as a lot of it is done by the company itself."
A top oil ministry official said it will be "suicidal" to even think of raising prices of diesel, LPG or kerosene just before Parliament is to meet.
Bharat Sanchar Nigam Ltd has started talks on synergising operations with Mahanagar Telephone Nigam Ltd, which offers telecom services in Delhi and Mumbai.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
Facing all-round criticism for a steep hike of Rs 1.80 a litre in petrol price, state-owned oil companies on Friday said they will roll back the increase in rate if the government gives a directive to that effect.
Employees of around 150 firms may lose out on PF benefits as their companies failed to get an exemption certificate from the Employees' Provident Fund Organisation (EPFO)
With the new financial year kicking in and the equity markets showing signs of stability, the government is expected to soon initiate its divestment programme with renewed vigour.
Criticising the saffron party for "undermining democratic values" in the country, the chief minister said, "Democracy exists in Bengal but it is under threat in several other parts of the country."
The move is significant as it would extend the power of CAG -- set up to audit central and state government departments as well as PSUs -- to private sector companies.
The 14-member panel headed by Consumer Affairs Secretary Rajiv Aggarwal today deliberated and suggested ways to check food wastage at weddings, big hotels and other social events.
Whilst substantive public allocations have been made in the infrastructure sector, this strategy is plateauing due to the fiscal deficit constraint, capacity limitation of statal implementing agencies, the declining ability of PSUs, and the precarious situation of the Railways' operating ratio. It is, thus, high time to get the policy compass to point at rejuvenating private sector investments in infrastructure, says Vinayak Chatterjee.
As the virus continued to spread its tentacles across India, several parts, including Kashmir valley headed towards a virtual lockdown with the administration restricting movement of people in several parts and banning all public transport in Srinagar city.
Heavy Industries Minister Praful Patel said Scooters India could be considered for complete privatisation
Prime Minister Manmohan Singh has approved the new guidelines for the appointment of Central Vigilance Commissioner, following which the government on Wednesday set the ball rolling for choosing a head of the top anti-corruption watchdog after the removal of controversial P J Thomas.The action came a month after the quashing of the appointment of Thomas as CVC by the Supreme Court as he is facing a corruption case.
Announcing a slew of measures for the sector, he said GST-registered micro, small and medium enterprises will be sanctioned a loan of Rs 1 crore in just 59 minutes through a new portal.
The decision assumes significance following the enthusiastic response from retail investors in the Friday's stake sale in steel major SAIL, which fetched the government Rs 1,715 crore (Rs 17.15 billion).
On September 7, the trade unions have called a dawn to dusk bandh to protest against rise in price of daily commodities and, once again, fuel price hikes.
IOC and its sister PSUs, Hindustan Petroleum and Bharat Petroleum, sell diesel, domestic LPG and kerosene at rates way lower than their imported cost to help government keep general price inflation under check.
The highest international package of $150,000 was offered by a commodities trading company while the highest domestic compensation of Rs 32 lakh (Rs 3.2 million) was offered by a Europe-based investment bank, according to an IIMK press statement.
The two PSUs have been losing revenues as well as market share.
While cancelling the legal tender of 500 and 1,000 notes on November 8, the government had allowed them to be used for utility bill payments for the first 72 hours. This deadline was extended repeatedly and the last extension was granted till December 15.
Admitting to irregularities in the export of non-basmati rice to some African countries during UPA-I tenure, the government on Friday said it has referred the matter to the CVC after slapping show-cause notices on officials of PSUs, involved in the transactions.
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