Oil Marketing Companies (OMCs) in the private sector have welcomed the decision of the government to allow state-run OMCs to revise diesel prices. However, they want complete de-regulation of diesel pricing in the country. They feel that the decision to allow state-run OMCs to revise diesel price is a token mea
Tag: market
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Ore price rises on expectation of supply disruption
Since early December, the price of spot iron ore rose around 33 percent and it is said to be trading almost at a 15-month high because of expectation of supply disruption. Traders expect that iron ore export from Australia, leading ore exporter, may be affected by the upcoming cyclo
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IGL raises CNG prices
Citing increased input gas price and related taxes, Indraprastha Gas (IGL) recently raised the selling price of compressed natural gas (CNG) in Delhi, Noida, Greater Noida and Ghaziabad by 4 percent. According to a company statement, the 4 per cent revision in CNG price would result in increase of Rs 1.55 a kg in
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Govt plans to offload stake in Oil India in mid January
During the middle of January, government plans to launch the divestment of its 10 per cent stake in Oil India. The government plans to mop up around Rs 2,700 crore by offloading its 10 per cent stake in the firm at the p
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Proposal to hike diesel prices awaits ministry nod
Oil Minister Veerappa Moily informed reporters that his ministry was yet to process and finalise its view on a proposal to raise fuel prices, on the lines of the recommendation of Kelkar committee. Raising diesel prices is essential in order to reduce the under-recovery of the three public sector oil mark
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Proposal to hike diesel prices awaits ministry nod
Oil Minister Veerappa Moily informed reporters that his ministry was yet to process and finalise its view on a proposal to raise fuel prices, on the lines of the recommendation of Kelkar committee. Raising diesel prices is essential in order to reduce the under-recovery of the three public sector oil mark
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Rising input cost prompts JSW to hike steel prices
Considering the increase in input cost, JSW Steel decided to hike steel prices by about 2 per cent. The company spokesperson is reported to have said that it has not hiked steel prices in the last three months whereas input costs and steel prices in international market have gone up significantly
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Panel suggests annual revision of gas price
A committee headed by C Rangarajan, Chairman of the Prime MinisterÂ’s Economic Advisory Council (PMEAC), suggested an annual revision in the price of natural gas produced in the country. The revision should be based on monthly moving average of net back price for producers of Indian LNG and the other volume weighted price of USÂ’s Henry Hub, UKÂ’s
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Deal on US fiscal cliff raises oil prices
Crude oil futures in the international market rose marginally in recent trade because traders expected the US economy to avert recession after the US government arrived at a deal on fiscal cliff. Recently, the Senate and the House of Representatives approved a deal preventing a raft of aust
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Sebi registers 12 more alternative investment funds
In the last two months, twelve companies received approval from the market regulator Securities and Exchange Board of India (Sebi) for setting up Alternative Investment Funds (AIFs). Since October 10, the market regulator registered 12 AIFs that include India Realty Fund, Dar Mentorcap Film