The Ministry of Petroleum and Natural Gas started mulling over the idea of legalisation of home delivery of HSD in 2017, after which it introduced the Petroleum Explosives Safety Organisation (PESO) to draft guidelines in this regard
Indian Oil Corporation and Hindustan Petroleum Corporation are offering discounts on digital transactions at petrol pumps
Traditionally, oil marketing companies (OMCs) have been used by the government to push its inclusive agenda, the latest being the dole out of free cooking gas (LPG) cylinders to poor women's households.
The process to seek application for the new pumps in the state by Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum kicked off on Sunday.
It can be argued that despite enjoying windfall gains from the drop in global oil prices, the NDA government opted to shore up revenue by raising taxes, instead of passing the benefit to customers.
Although there has been a substantial correction in stock prices, we approach the current year with caution given the increasing global uncertainty, rising crude oil prices, growing agitation against higher petrol and diesel prices in domestic markets and government’s unwillingness to reduce taxes on fuel
Policy uncertainty in light of high crude prices, inflationary environment and populism in an election year make us cautious on this space
The Consortium of Indian Petroleum Dealers has threatened to close fuel pumps on Sundays if their demand for an increase in dealer’s commission is not fulfilled by the central government.
State-owned and India's biggest oil marketing company Indian Oil Corp Ltd and its two smaller peers Bharat Petroleum and Hindustan Petroleum are considering ways to roll out the plan to review petrol and diesel prices daily, executives from the firms told the daily.
ITC, UPL, Dr. Reddy's, among others are being watched by analysts, while steel and oil and gas too remain on their radar.
In an interview to CNBC-TV18's Anuj Singhal and Reema Tendulkar, SP Tulsian of sptulsian.com shared his readings and outlook on the market and specific stocks.
Consolidation in the telecom space would lead to bottoming out of the market. Bharti Airtel remains their top pick from the space because of its leadership and cost effectiveness of P&L account, Susmit Patodia, Head, Institutional Sales, MOSL.
Although policy changes may be kept to a minimum in Finance Minister Arun Jaitley's Budget speech for the oil and gas sector, changes in the cess rates for oil production may prove to be a positive for the sector, suggest reports.
State-owned oil firms, that are bearing the discount cost of 0.75 percent for cashless payments announced by the government in the wake of demonetisation, may urge the government to compensate for their losses.
The biggest debtor for the AAI, interestingly, is Air India, which is accountable for nearly 50 percent of the authority's dues.
"The decision is very clear. Consumers will not be burdened with Merchant Discount Rate (MDR). Retail outlets (petrol pumps) will also be kept out of its purview. Now it is between banks and OMCs how they share it," he said.
"We are committed to promote the cashless economy as has been the agenda of the government", MK Surana, CMD of Hindustan Petroleum Corporation Ltd (HPCL) told CNBC-TV18.
The combination of factors such as passage of Goods and Services Tax, implementation of Seventh Pay Commission, besides a good monsoon and the central bank cutting rates is likely to trigger earnings recovery for companies going ahead, according to Gautam Trivedi, Managing Director and Chief Executive of Religare Capital Markets.
The brokerage house has maintained buy rating on them with revised target price at Rs 1,635 per share (from Rs 1,250 earlier) on Hindustan Petroleum Corporation, Rs 700 (from Rs 540) on Indian Oil Corporation and Rs 740 (from Rs 640) on Bharat Petroleum Corporation.
It is a good time to book profits because earnings are likely to be volatile. Moreover, even if earnings are good, they are already priced-in, says Ashwani Gujral of aswhanigujral.com.
Gautam Chhaochharia, Head-India Research at UBS is overweight on oil and gas space.
Ministries of Chemical and Fertilizer and New and Renewable Energy will come out with the draft policies for manufacturing of coal-based urea and second generation ethanol in three weeks, Union Minister Nitin Gadkari said.
The hike was long due and will be positive for upstream and oil marketing companies (OMCs) like Oil and Natural Gas Corporation, says RS Sharma, Former CMD, ONGC.
Credit Suisse expects recovery in refining margins from recent weakness, sustained strong India oil demand growth, organic EBITDA growth due to refinery expansions at BPCL/IOCL and solid marketing margin performance to keep OMC returns supported.