Posts in category Business Standard
Petrol, diesel price revision only when oil price stabilises below $80 (30-11-2023)
State-owned fuel marketing companies are likely to revert to daily revision in prices of petrol and diesel only when international oil prices stabilise below USD 80 per barrel on a sustained basis, industry officials said.
Three state-owned fuel retailers -- Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 20th month in a row.
This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in the first half of 2022-23 fiscal year before easing rates propelled them to profitability.
"There is considerable volatility in the international oil market and prices fluctuate wildly," an official said. "Oil companies can cut prices by Re 1 per litre and everyone will applaud. But when international oil prices go up, will they be allowed to raise rates remains in doubt."
India is the
Gandhar Oil Refinery soars 78% on market debut; Fedfina ends flat (30-11-2023)
For the quarter ended June 2023, Gandhar had posted a profit of Rs 54.3 crore on revenues of Rs 1,070 crore
Nifty 50’s best month since July 2022 on IT, energy stocks, GDP data eyed (30-11-2023)
GDP growth is forecast to have moderated to 6.8% in the September-quarter from 7.8% in the previous quarter, but the country still remained the fastest growing major economy, according to Reuters
Opec+ ministers meet to discuss additional oil output cuts for next year (30-11-2023)
The size of potential additional cuts have not been decided yet, but two delegates said they ranged from 1 million to 2 million barrels per day (bpd) for the first quarter of 2024
Metro Brands, Nykaa soar up to 9% on inking licensing pact with Foot Locker (30-11-2023)
Shares of Metro Brands surged 9 per cent to hit a new high of Rs 1,440.45, while Nykaa gained 3.5 per cent to Rs 178.20 on the BSE in intra-day trade today
Analysts suggest hedging India equity portfolio before state poll results (30-11-2023)
India's blue-chip Nifty 50 index, hovering near record highs, has rallied 5% in November and is up 11% this year. It was at 20,044.6 at 12:40 p.m. IST
IREDA extends rally in weak market; stock zooms 115% against issue price (30-11-2023)
The stock hit a new high of Rs 68.91 on the BSE in intra-day trade today, has zoomed 115% against its issue price of Rs 32 per share on the BSE.
Fedbank Financial makes weak debut; lists at 2% discount to issue price (30-11-2023)
Fedbank Financial is a retail-focused NBFC promoted by Federal Bank which focuses on Micro, Small & Medium Enterprises (MSMEs) and the emerging self-employed individuals (ESEIs) sector.
Gandhar Oil Refinery makes robust debut; stock zooms 104% over issue price (30-11-2023)
The initial public offer (IPO) of Gandhar Oil Refinery had received good response from the investors and was subscribed 65.63 times.
India’s blue-chips shares set to continue ascent towards new record highs (30-11-2023)
India's GIFT Nifty was down 0.05% at 20,132 as of 8:03 a.m. IST. The blue-chip Nifty 50 index on Wednesday settled at 20,096.60, above the 20,000 mark for the first time since Sept. 18