Even as petrol and diesel prices move closer to their highest level in three years, Petroleum Minister Dharmendra Pradhan met the heads of oil marketing companies (OMCs) and assured them that there will be no intervention and the "market-driven" mechanism will continue to determine prices. In an interview to CNBC-TV18, MK Surana, CMD of HPCL spoke about the latest happenings in his company and sector.
In an interview to CNBC-TV18, Nachiket Pantvaidya, CEO of Balaji ALT-Digital spoke about the recent deal which the company signed with Reliance and his outlook for the company going ahead.
As expected Reliance Industries Limited made big announcements at its 40th Annual General Meeting (AGM) with the key announcement being around the JioPhone, which will be given free of cost to its Jio users, along with aggressive data tariffs.
In an interview to CNBC-TV18, MK Surana, CMD of Hindustan Petroleum Corporation Ltd (HPCL) shared his views on Reliance Industries Ltd (RIL)-BP partnership.
Domestic gas is cheaper than imported gas. “So good for the country and consumer, said RK Garg, Director-Finance, Petronet LNG.
The exact number of customers that will remain with Reliance Jio will be known after the Prime extension ends, said Nitin Soni, Director-Asia Pacific TMT at Fitch Ratings.
Prakash Diwan, Altamount Capital Management is more impressed with the announcement of JioMoney Merchant application and the aim of bringing around 10 million small retailers and merchants under the net.
Speaking to CNBC-TV18 Rajnish Kumar, MD, SBI said that through this arrangement it is expecting a last mile connectivity. â€œTheir (Rel Jio) distribution network is huge,â€ he said, adding that there are certain limitations of a payment bank.
Last week, the AP Shah report on ONGC and Reliance Industries mentioned that the latter has made unfair gains from producing ONGC‘s migrated gas while also blaming the company for neglecting the issue for nearly six years.
Incumbent operators have sent letters to the PMO highlighting the volume of traffic originating from Reliance Industries Jio onto their networks, said Rajan Mathews, Director-General of COAI.
Watch the interview of Alan Mamedi, CEO & Co-Founder of Truecaller and R Jagannathan, Editorial Director of Swarajya with Ronojoy Banerjee on CNBC-TV18. They spoke about what Reliance Jio's launch would mean to existing telecom companies and for customers.
Speaking to CNBC-TV18 Sanjay Kapoor, Former CEO, Airtel India said that the biggest hurdle for incumbent operations will be to make some long-term choices in technology.
Idea's long term strategy is volume led profit growth and is confident of delivering double digit volume growth post monsoon, says Himanshu Kapania, MD of the company.
Experts on CNBC-TV18 unanimously agree that official launch of Jio will start a competitive war amongst telcos over data prices.
The AP Shah committee said on Wednesday that Reliance Industries Limited had made unfair profits from ONGC's oil fields in the Krishna-Godavari basin.
The exploration of KG-D6 block by Reliance Industries (RIL) had led to migration of gas from the adjacent KGDWN-98/2 block operated by ONGC, which led to a loss to the exchequer, a report by the Justice AP Shah panel submitted to the government concluded yesterday.
Positives from the hike in natural gas prices for the upstream companies would be in the long-term and not immediately, says Sudeep Anand, Analyst-Institutional Research, IDBI Capital Markets Services.
RS Sharma, Former Chairman of ONGC, says the government will hike the gas prices by 60 percent only for the oil fields already discovered but where production has not started yet.
Former chairman of State Bank of India AK Purwar says even larger banks will start feeling the heat and pinch of this, not just midcap and small banks. In a neck and neck competition, he says: â€œIt will become a question of survival of the fittest.â€
Prayesh Jain of IIFL says the chairman's vision is like magnum opus but one will have to wait and see how it pans outs. "We will have to wait for the numbers to start trickling in. It will take atleast another year for the numbers to come in, only then will more clarity emerge on the valuation front," he adds.
Prashant Singhal of EY fails to understand why the DoT committee has finalised reserve price higher than the one recommended by Trai. This move will only increase the pressure on telcos, he says.
In a bid to entice telecom companies for the upcoming 2G auctions, the empowered group of ministers (EGoM) has lowered SUC to a maximum of 5% of average revenues.
BP India expects to quadruple its production by 2020 if it gets right support and approvals from the government.
The Union power minister highlighted the many measures taken to ensure revival of India's power sector and reminded that the feat of connecting north grid to south grid has been a great achievement.
R S Sharma, former chairman, ONGC says the government‘s move is logical and practical, keeping in mind the fact that the case is was under arbitration and that retrospective recovery from consumers would've been a massive issue.