NEW DELHI: State-run ONGC will start pumping crude from its $5-billion project off the Andhra coast in the next fortnight, bringing on stream the delayed project that is pivotal for reversing the company’s declining fortunes as a result of maturing fields.Output from the KG-DWN 98/2, the second deep sea project in the east coast after … Read more
NEW DELHI: Flagship explorer ONGC recorded a 20% decline in its second quarter net profit at Rs 10,216 crore compared to Rs 12,826 crore a year ago as a drop in global oil prices coincided with marginally lower production during the July-September period.Company director (finance) Pomila Jaspal said lower crude prices reduced earning from each … Read more
NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) reported a 20 per cent drop in September quarter next profit on decline in oil prices and lower output.The company reported a net profit of Rs 10,216 crore in July-September (second quarter of current 2023-24 fiscal year), compared to Rs 12,826 crore earning in the same … Read more
Shares of Indian oil marketing companies (OMCs) jumped up to 7% on Wednesday as the crude oil prices fell to their lowest levels since July. Hindustan Petroleum Corporation (BPCL) was the top gainer followed by Bharat Petroleum Corporation (BPCL) which was up over 2% in the early morning trade. Meanwhile, Indian Oil Corporation (IOC) was … Read more
Home Business Nifty50 Touches 20,000 Mark For The First Time Ever, Investors Celebrate | Watch The announcement of an ambitious rail-port economic corridor deal connecting India, the Middle East, and Europe, along with the launch of the Global Biofuel Alliance on the summit sidelines, contributed to the market’s positive sentiment. Members at NSE celebrate as … Read more
NEW DELHI: Oil India Ltd aims to invest 165 billion rupees ($1.98 billion) in clean energy projects to meet its 2040 net zero carbon emissions goal, said two sources familiar with state-run energy companies’ net zero strategy.The companies are investing billions of dollars in projects aimed at reducing emissions as one of the world’s biggest … Read more
Coal India Share Price 262.95 10:31 AM | 07 Sep 2023 7.15(2.80%) Dr Reddys Laboratories Share Price 5634.85 10:31 AM | 07 Sep 2023 51.55(0.92%) Maruti Suzuki Share Price 10271.00 10:31 AM | 07 Sep 2023 92.15(0.91%) Larsen & Toubro Share Price 2751.25 10:31 AM | 07 Sep 2023 20.80(0.76%) UPL Share Price 613.80 10:31 … Read more
Indian market is likely to consolidate on Tuesday tracking mixed global cues. The S&P BSE Sensex rose more than 200 points while the Nifty50 closed above 19500 levels on Monday. India VIX was down by 3.50% from 11.36 to 10.96 levels in the previous trading session. Volatility has been cooling off from the last two … Read more
Mumbai: JM Financial said the Nifty may gain about 1,000 points in September and a target of 20,432 is on cards. The target based on Friday’s closing price implies an upside of 4.6% for the index over Monday’s closing of 19,528. The brokerage said PNB Bank, Hindalco, LTI Mindtree, GAIL and ONGC are the ‘thrust’ … Read more
Stocks from capital-intensive sectors, cyclicals and value stocks are expected to do well as long as the investment, commodity and credit cycle continue to remain robust, an ICICI Securities report said. The brokerage has identified over a dozen stocks with ‘Buy’ ratings which it referred to as ‘value stocks’ while cautioning against value traps. The … Read more