New Delhi-headquartered Shiv-Vani Oil & Gas Exploration Services has bagged an order worth Rs 1,610 crore from state-run Oil and Natural Gas Corporation (ONGC) for deployment of eight onshore deep drilling rigs.

The contract is for deployment of one 3000 Hp rig and seven 1500-2 000 Hp rigs and includes deep drilling and integrated services like cementation, directional drilling and mug engineering.

Under the deal, the company would deploy two rigs in Tripura, four rigs in Assam and two rigs in Rajahmundry.

Karvy Stock Broking Limited has maintained ‘Buy’ rating on Cairn India stock with an intraday target of Rs 250.

According to Karvy, day traders can purchase the stock between Rs 232-234 with a strict stop loss of Rs 226. The stock pricing becomes more attractive, and reach above Rs 252, if the stock market remains on positive track.

Shares of the company, on Tuesday (August 06), closed at Rs 237.15 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1221278. The share price has seen a 52-week high of Rs 342.50 and a low of Rs 134.60 on BSE.

Wellington - Big oil companies were cleared of suspicion of running an illegal anti-competitive cartel in an independent investigation into New Zealand petrol pump prices released Thursday.

The report showed that the New Zealand petrol market was "fundamentally competitive," said Commerce Minister Lianne Dalziel, who commissioned the study after angry motorists' complaints about a 30-per-cent increase in prices within five months.

The price of the most popular 91-octane petrol reached 2.18 New Zealand dollars (about 1.57 US dollars) a litre last month in New Zealand cities, a rise of 60 per cent since January 2007.

Vienna  - Austrian oil and gas group OMV reported an increase of more than 60 per cent in profits and operating earnings for the second quarter of 2008 on Wednesday, as rising oil prices offset the effects of a weak dollar.

Net profit after minority interests rose to 684 million euros (1.061 billion dollars) between April and June 2008, 66 per cent above the 411 million euros it made in the same period last year. Minorities accounted for 98 million euros.

OMV reported sales of 6.965 billion euros, up 52 per cent from the first quarter of 2007.

Vienna - Austrian oil and gas group OMV reported an increase of more than 60 per cent in profits and operating earnings for the second quarter of 2008 on Wednesday, as rising oil prices offset the effects of a weak dollar.

Net profit after minority interests rose to 684 million euros (1.061 billion dollars) between April and June 2008, 66 per cent above the 411 million euros it made in the same period last year. Minorities accounted for 98 million euros.

OMV reported sales of 6.965 billion euros, up 52 per cent from the first quarter of 2007.

Suzlon Energy, Asia's largest wind turbine manufacturer, reveals its plans to raise up to Rs 5,000 crore through issue of securities in the international and domestic market.  
 
Earlier in May, the shareholders at their annual general meeting had approved the raising of Rs 5,000 crore through issue of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts or other securities.

Of this, the company has raised about Rs 2,183 crore by issuing over 1.13 crore shares of Rs 10 each at a premium of Rs 1,907 a piece to the Qualified Institutional Buyers.