Reliance Industries Limited (RIL) rights issue oversubscription reached 129.8 per cent with one day still to go. As per data, applications for 8.8 crore plus shares were received on Tuesday. Dealogic has put together a list of USD 7 billion plus rights issues globally since the financial crisis of 2008. It shows that the RIL […]
Category: Oil & Gas
Non-subsidised LPG rate hiked, aviation fuel ups by Rs 11,000/kl
Oil marketing companies have hiked the prices of non-subsidised cooking gas and aviation turbine fuel with effect from Monday. The price of the 14.2 kilogram cylinder of non-subsidised LPG gas in Delhi has been raised by Rs 11.50 from May to Rs 593 per cylinder. In Kolkata, Mumbai and Chennai, the price of LPG has […]
RIL sets May 14 as ‘record date’ for Rs 53,125 crore rights issue
Reliance Industries (RIL) has set May 14 as the ‘record date’ for the Rs 53,125 crore rights issue. “The rights issue committee, constituted by the board of directors of the company, has, at its meeting held today (Saturday), fixed May 14 as the ‘record date’ for the purpose of determining the equity shareholders entitled to […]
Petrol, diesel, liquor to cost more
Petrol, diesel and alcohol will cost more in Uttarakhand. These were among the decisions taken by the State Cabinet in its meeting presided over by Chief Minister Trivendra Singh Rawat on Thursday. Briefing the media after the cabinet meeting, Cabinet Minister and State Government spokesman Madan Kaushik said that the cabinet has approved hiking the […]
US stocks end higher amid oil rally, hopes for economy reopening
US stocks closed higher as market sentiment was boosted by a strong rally in oil prices and hopes for restarting the economy. On Tuesday, the Dow Jones Industrial Average increased 133.33 points, or 0.56 per cent, to 23,883.09, after jumping more than 400 points earlier in the session, Xinhua news agency reported.
Oil marketing companies’ shares trim most of sharp early losses
Shares of oil marketing companies — Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd — on Wednesday trimmed most of their early losses at close of trade after plunging up to 13 per cent during the day after hike in excise duty on petrol and diesel. Shares of Hindustan Petroleum […]
Covid-19 disruptions may further spike duty on petrol, diesel after Tuesday’s unprecedented hike
The unprecedented increase in excise duty on petrol and diesel by Rs 10 and Rs 13 per litre on Tuesday may not be the end of the government’s exercise to fleece the two petroleum products for additional revenue this year. Sources indicated that that another Rs 3-6 per litre increase in excise duty on petrol […]
Petrol, diesel prices increased in Chandigarh from May 7
People of Chandigarh will have to shell out more for petrol and diesel from May 7 onwards with the UT Administration on Wednesday announcing a hike in prices by enhancing the VAT, in a bid to generate revenue amid financial crisis due to coronavirus pandemic. The new prices of petrol will now be Rs 68.62 […]
UP hikes petrol price by Rs 2/L, diesel by Rs 1/L
The Uttar Pradesh government on Wednesday approved a hike in the prices of petrol and diesel, a state minister said. Briefing reporters after the state cabinet meeting here, Uttar Pradesh Finance minister Suresh Khanna said, “The UP government has increased the price of petrol by Rs 2 per litre, and that of diesel by Rs […]
Auto fuels double States’ revenues in 6 yrs but still targeted to fill coffers
Consumers can expect to pay more for auto fuels and liquor in coming days as more and more states are expected to target these for increasing their revenue which has been severely hit by Covid-19 outbreak and subsequent lockdown. Sources in the Central and State Governments said that as the two segments (petroleum products and […]
Petrol price up by Rs 1.67/L, diesel Rs 7.10/L
The Delhi Government on Tuesday hiked local sales tax or value-added tax (VAT) on petrol and diesel. According to Government’s order, petrol price in Delhi was hiked by Rs 1.67 a litre and diesel by a steep Rs 7.10 per litre. This follows Delhi Government’s decision to raise VAT on petrol to 30 per cent […]
Petrol, diesel rate to go up by Rs 2 per litre each in Punjab
Retail prices of petrol and diesel will go up by Rs 2 per litre each in Punjab as the state government increased the tax on petrol and diesel on Tuesday night. It raised the value added tax (VAT) on diesel from 11.80 per cent to 15.15 per cent and on petrol from 20.11 per cent […]