Diabytes
Oil marketing firms News
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State-run oil marketing firms (OMCs) on Monday hiked the prices of subsidised cooking gas (LPG) by about Rs 2 per cylinder and of kerosene by 26 paise per litre.
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Petronet LNG Ltd, India's largest liquefied natural gas importer, has bought a 26 percent stake in the shipping consortium that built its biggest LNG ship to transport gas form from Australia.
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Having settled its dues with the tax authorities and the public sector oil marketing firms, budget carrier SpiceJet Monday cleared its aircraft rentals dues by paying USD 10 million to some of its lessors.
Shares of SpiceJet tumbled over 5 percent as flight services of the cash-strapped company were grounded this morning on payment woes.
A strong wave of buying swept the stock market Monday with the benchmark Nifty surging by a robust 83 points to end at a new lifetime peak on the National Stocks Exchange (NSE).
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like ONGC.
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