IOC, BPCL & HPCL shares tumble after Moody’s warns of rising debt burden
Posted on 20th September 2017 |
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| Shares of the state-run oil marketing companies IOC, BPCL and HPCL dived up to 2.8% after Moody’s Investors Service said that the state-owned fuel retailers have to increase borrowings. IOC, BPCL, and HPCL will have to go in for increased borrowings to sustain high dividend payments and capital spending this fiscal, keeping their credit metrics weak, Moody’s Investors Service said yesterday. It expected dividend payments by the three to decline modestly in 2017-18, but remain higher than in 2015-16. The stock of Bharat Petroleum Corporation Ltd was the biggest loser among the three, plunged as much as 2.84% to the day’s low of Rs 492.5; Hindustan Petroleum Corporation Ltd fell 2.2% to the day’s low of Rs 451.15. While the stock of India’s largest companies by revenue Indian Oil Corporation was little changed, fell 0.79% to hit the day’s low of Rs 415 on NSE. The government expects to receive Rs 67,500 crore of dividends from all state-owned companies in 2017-18, less than the Rs 77,000 crore estimated to have been received in 2016-17 but more than double the Rs 30,800 crore in 2015-16. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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