More than 30,000 ONGC workers vow to boost national energy security
Posted on 14th August 2019 |
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| More than 30,000 employees of state-run Oil and Natural Gas Corporation (ONGC) took pledge to enhance national energy security on 64th Foundation Day on August 14, 2019. ONGC, the country’s largest oil and gas producer, celebrates this day every year to renew its pledge for national energy security. The employees were administered the pledge by ONGC directors at registered office. “The ONGC officers vowed to dedicate themselves to the nation’s energy security, through the diligence. The ONGC pledge was administered to a large gathering of employees,” ONGC said in a statement. The corporate function was held at Dehradun. The company chief manageing director (CMD) Shashi Shanker unfurled the resplendent yellow and earth brown ONGC flag in the forecourt of the Subir Raha Oil Museum at Tel Bhavan, Dehradun, ONGC also said. The CMD and the Directors planted trees at the rear gate of Tel Bhavan, giving the message – “To save our environment one has to save and grow trees.” Meanwhile, the government owned ONGC reported a 3.9 per cent year-on-year fall in net profit at Rs 5,904 crore for the first quarter ended June 30, 2019, impacted by falling prices of crude oil and falling production. “The company had posted a net profit of Rs 6,144 crore in the year-ago period,” ONGC said in a filing to the Bombay Stock Exchange (BSE). ONGC’s gross revenue slipped by 2.4 per cent to Rs 26,555 crore as against Rs 27,213 crore in the same quarter last year. On a consolidated basis, the net profit plunged 24.4 per cent YoY to Rs 7,043 crore, while the gross revenue slipped marginally by 0.8 per cent to Rs 1,09,515 crore in the given quarter. |
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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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