ONGC up 3% post December quarter results
Posted on 12th February 2018 |
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| Oil and Natural Gas Corporation (ONGC) was trading 3% higher at Rs 195 on BSE in early morning trade after reporting a strong operating performance led by higher gas volume and oil realization for the quarter ended December 2017 (Q3FY18). The company’s natural gas production saw an increase of 4.2% during the quarter under review to 6.277 billion cubic meter (BCM) as against 6.025 bcm during the same quarter in 2016. ONGC posted a 15.2% year on year (YoY) rise in net profit for the third quarter of the financial year 2017-18 to Rs 50.15 billion, compared to Rs 43.52 billion last year. “Company’s revenue increased 14.9% YoY to Rs 230 billion owing to 17% rise in oil realisation to US$60.6/bbl and 4.2% jump in gas production volume to 6.3 bcm, partially offset by 1% drop in oil production volume to 6.3 mmt. Also, gas realization increased 2% YoY to Rs7.6/scm,” analyst at IDBI Capital said in result review. The company guided for a robust 4.8%/27% oil/gas volume growth in FY19 over FY17 to 26.2mmt/29.5bcm. Also, it expects Vashishta to start production from end Mar’18 which would improve gas production by 4mmscmd, the brokerage said with maintain a ‘buy’ rating on the stock. |
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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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