HPCL, BPCL, IOCL trade firm after government cuts excise duty on fuels
Posted on 4th October 2017 |
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| Shares of all three state-owned oil marketing companies (OMCs) were trading higher by up to 4% on BSE in early morning trade after the government cut the excise duty on both branded and unbranded petrol and diesel by Rs 2 a litre from Wednesday. Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation (IOCL) have gained between 3% and 4%, extending their gains for the past 2 days on the BSE. At 9:43 am, these three stocks were trading higher in the range of 1% to 3%, as compared to 0.18% rise in the S&P BSE Sensex. Over the past few weeks, share prices of IOCL, HPCL and BPCL have declined by more than 10% as against less than 1% fall in the benchmark index. “The decline in share prices reflects rising concerns after some media reports of re-introduction of subsidy burden, rise in crude oil prices, decline in high speed diesel or HSD and MS cracks post Hurricane Harvey in the US and global rating agency Moody’s statement that borrowings of oil marketing companies will increase with dividend payment and capital expenditure in the current financial year,” analyst Nirmal Bang said in recent report on oil & gas sector. |
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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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