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Cairn India JV is set to undertake a USD 44 million drilling campaign at its eastern offshore Ravva field at Krishna-Godavari basin from April 1 this year, sources close to the development said.
The government may be forced to hike diesel and cooking fuel prices or shell out more on oil subsidy if global crude oil prices continue to rise, Chief Economic Advisor Kaushik Basu said here today.
With high prices remaining a concern, Prime Minister's Economic Advisory Council chairman C Rangarajan today said all policy measures, like rate hikes and intervention in grain markets, will be undertaken to bring down inflation to comfort zone of 4-5%.
Srei, a leading infrastructure provider and financing company, is planning to float a private equity (PE) fund dedicated to India’s defence and security sector.
Tata Steel | Gammon India | Solar Industries | SBBJ | BoB | SAIL | Cairn | GVK | Hexaware | Bajaj Auto | Chambal Fertiliser and DLF are stocks, which are in the news today.
9.15 to 10.30: The Nifty may open near the surface and make you job near the surface.
According to a report by Angel Broking, if Nifty trades below 5476 levels for the first half-an-hour of trade then it may correct up to 5420-5317 levels.
The support for the Nifty is at 5400 and resistance at 5654.
The coming session is likely to witness a resistance at 5580 on advances above which the 5625 maybe likely. Support is likely at the 5450 below which the 5425 levels maybe seen.
Libyan rebels repulsed a land and air offensive by Muammar Gaddafi's forces on Wednesday as the defiant leader warned foreign powers of another Vietnam if they intervened
Britain may approve News Corp's USD 12.5 billion buy-out of BSkyB this week, two sources familiar with the situation said on Wednesday, forcing Rupert Murdoch's group to spin off TV news channel Sky News.
Crude oil prices held near two-and-half year peaks on Thursday as worries about supply disruption persisted given ongoing unrest in Libya, but upbeat US economic news and a firmer Wall Street helped Asian stocks post modest gains.
US automakers, still digging out of a deep hole at home, face stiff challenges to regain their footing in Europe where the industry remains in a slump.
Federal Reserve Chairman Ben Bernanke said on Wednesday a Republican spending cut plan would not cause a big dent to US economic growth, but could cost around 200,000 jobs over two years.
Gold edged lower on Thursday after hitting record highs in two consecutive sessions, as spreading unrest in the Middle East underpinned safe-haven demand and investors watch for signs of tightening at a European Central Bank meeting later in the day.
Brazil raised interest rates on Wednesday for the second time in three months, opting for an increase in line with market expectations despite mounting concerns about the pace of inflation.
Nippon Steel Corp, JFE, POSCO and others will buy a 15% stake in a Brazilian rare metal miner for around USD 1.83 billion, South Korea's National Pension Service said on Thursday.
Stock Futures added 3 crore shares in open interest. Nifty Futures shed 8.2 lakh crore shares in open interest and its premium increased at 22 points versus 5 points.
expect the bond market to be rangebound. High crude prices is a concern. But light positions in the market and lack of auctions this month might counterbalance this. The 10-year yield is seen between 7.95- 8.05%, says Ramanathan K, ING Investment Mgmt.
The rupee may appreciate on the dollar's weakness globally. The domestic equity market sentiment is also likely to support the currency. The range for the day is seen between 44.80- 45/$, says Ssharad Pawaar, SPFX India.
Market cues: FIIs net sell USD 15.3 million in the cash market on Feb 28.
F&O cues: Total Futures Open Int ws up Rs 1983 crore and Total Options Open Int was up Rs 6551 crore.
A spike in global crude prices due to social unrest in West Asia & North Africa has compounded India's macro problems of a large triple deficit and high inflation.
Crude prices touched multi-year highs on news of an air-stike near Libyan oil terminals. Investors remained concerned on worries that the Libyan turmoil may spill over to other oil producing nations.
The Dow Jones Industrial Average ended up 9 points at 12,067. The Nasdaq Composite was up 11 points at 2,748 and the S&P 500 Index rose 2 points at 1,308.
