Markets
BSE See NSE See 39,324.08
211.34 (0.54%)
collapse Related Readings collapse

Rumbling Changes

| 11/29/2012 9:00 PM Thursday

The Oil Ministry has sought Rs 105525 crore from the Ministry of Finance this fiscal to subsidise diesel and cooking fuel, the Lok Sabha was informed. State-owned fuel retailers are likely to end the fiscal with a revenue loss of over Rs 163000 crore on the sale of diesel, domestic cooking gas (LPG) and kerosene at government-controlled rates that are way lower than the cost. Of this, close to Rs 60000 crore will come from upstream companies ONGC, Oil India and GAIL India. For the rest, the Oil Ministry has asked the Ministry of Finance to give a cash subsidy.

ONGC

Capex Plans

ONGC Videsh, the overseas investment arm of the state-run Oil & Natural Gas Corporation, plans to raise up to USD 900 million by issuing a dollar bond in the first quarter of 2013 to fund a recent acquisition of oil fields in Azerbaijan. The company will be going overseas for the issue because it is cheaper to borrow money in dollars, This also makes sense because ONGC Videsh purchased its assets in dollars and its liabilities are in dollars as well. In September, the company agreed to buy a 2.7 per cent stake from Hess Corporation in the Azeri, Chirag and Guneshli fields in Azerbaijan and a 2.4 per cent interest in the associated BTC pipeline for a total of USD 1 billion. It plans to invest USD 20 billion on acquiring assets overseas to achieve its target of a seven-fold increase in the oil and gas output from overseas assets by 2030.

NTPC

Stake Sale

The Cabinet Committee on Economic Affairs has approved 9.5 per cent paid-up equity capital (about 78.33 crore shares) in state-run power producer NTPC out of the government's shareholding of 84.50 per cent, a proposal by Department of Disinvestment, Ministry of Finance. At the current market price, the government hopes to garner around Rs 13000 crore from this stake sale. Post-disinvestment, the government stake would come down to 75 per cent, which would also help NTPC to comply with the minimum public shareholding norms.

 

Find More Articles on: DSIJ Magazine, PSU Corner, Product, Large Cap

news letter

More for the early bird.

Get the post-market reports and breakfast news right in your inbox. See latest »

DSIJ Mindshare

12345678910Last

Tiger Logistics topline to grow by 10%--buoyant over infra sector status to logistics sector

Tiger Logistics topline to grow by 10%--buoyant over infra sector status to logistics sector

Logistics sector will play a vital role in making the concept of ‘Make in India’ a success. This will be further aided by some of the recent steps taken by Government of India such as granting of infra sector status to logistics sector.

Best and worst Performing Sector Funds of Year 2017

Best and worst Performing Sector Funds of Year 2017

As the year-end has approached most of you are eager to know the mutual fund movers and shakers of the year 2017. Read on to find the performance of various sector dedicated funds.

Markets may start positive, but volatility likely due to F&O expiry

Markets may start positive, but volatility likely due to F&O expiry

The start of the F&O expiry day is likely to be in the green, but volatility may creep in with the progress of the session. The SGX Nifty suggests that the Nifty could open at 10,525 with gains of 32 points at the opening bell. 

Pidilite announces buyback of Rs 500 crore

Pidilite announces buyback of Rs 500 crore

The buyback offer comprises purchase of up to 50,00,000 equity shares. The buyback offer size comprises 0.975 per cent of the total paid-up equity capital of the company.

Bank Nifty drags markets to close in the red

Bank Nifty drags markets to close in the red

The late session fall in Bank Nifty changed the direction of the market, leading to a marginal fall in the benchmark indices. Bank Nifty yet again resisted at its multiple point downward sloping trendline level at 25733.

Six major underperforming MF schemes having higher expense ratios

Six major underperforming MF schemes having higher expense ratios

Mutual funds with a large size of assets under management (AUMs) are supposed to have lower expense ratios. However, there are schemes with large AUMs but having higher expense ratios and generating lower returns. 

Nifty Pharma supports market; Sun Pharma at bullish reversal

Nifty Pharma supports market; Sun Pharma at bullish reversal

Nifty Pharma index has come in as the healer in an otherwise sluggish market. Index has given a consolidation breakout at the 9420 level today and if the it sustains 9420, followed by 9628 on the upside, it has a long way to go.

Ten stocks close to their 52-week low

Ten stocks close to their 52-week low

Following stocks are close to their 52-week low as at 12.35 p.m. on December 27.

Ten stocks close to their 52-week high

Ten stocks close to their 52-week high

The markets on December 27 opened gap down. BSE Sensex is trading at 34,068.15, up by 57.54 points and the Nifty is trading at 10,539.45, up by 7.95 points.

Five stocks with selling interest

Five stocks with selling interest

Overall volumes in futures & options currently stand at 62.75 lakh contracts with a turnover of Rs. 5,19,204.72 crore.