Public Sector

Govt may Hike Petrol, Diesel Rates

New Delhi: PetrolThe government is thinking over ways such as increasing petrol and diesel prices for coping with the surge in worldwide crude oil rates, which have resulted in oil companies losing Rs 170 crore a day.
According to the official sources that an increase of Rs 2 in petrol and a Re 1 in diesel prices is being mooted as Indian basket of crude oil passed over $69 a barrel mark.
Public sector oil companies are receding more than Rs 5.3 a litre on petrol and Rs 4.40 on diesel as Indian basket of crude oil has climbed 12 per cent since February 15, when petrol and diesel prices were down by Rs 2 and Re 1 a litre correspondingly.

No Impact Of JV Deal On Sail Stock Value

In early tradeSteel Authority of India, Steel Authority of India was trading nearly flat at Rs 133.10 after it signed up an memorandum of understanding (MoU) with Manganese Ore India to form a joint venture to manufacture ferro-manganese and silico-manganese.
During the day, the scrip touched a high of Rs 134 and a low of Rs 132.70. The scrip has had its 52-week high of Rs 149.95 on 28 May 2007 and a 52-week low of Rs 64.25 on 24 July 2006.

BHEL Is The Best Order-N-Investment Combination

Lengthening itsBharat Heavy Electricals current rally on continued buying, Bharat Heavy Electricals gained 2.75% to Rs 1,470.75 on BSE.

The scrip's high record during the day was Rs 1,474.40 and low Rs 1,435. The existing market price of Rs 1,470.75 brushes off its earning per share of Rs 49.32 for the year ended March 2007 by a PE multiple of 29.82.

Today, nearly 1.33 lakh shares were traded on the counter. The standard daily volume in the stock was 1.35 lakh shares during in the last one quarter.

The Date For Submitting Views On Discussion Paper Extended By TRAI

The date for submission of views by the industry on a consultation paper for reviewing key license conditions and capping the number of access providers has been extended by the Telecom regulator Telecom Regulatory Authority of India. TRAI said that service providers could now submit their comments by July 6.
The consultation paper - 'Review of license terms and condition and capping number of access providers' – was floated by the regulator on June 12, with a view to start the second phase of telecom reforms.
The paper had sought comments on the issue of allowing operators to offer services under the same license using a combination of technology, limiting the number of companies in each area, mergers, acquisitions and roll out obligations.

IFCI Tops Volume Charts On Bourses

IFCI Ltd.IFCI topped the volume charts on BSE with 89.56 lakh shares. However, its share price dipped 1.41% to Rs 49.05. The derivative contracts in the underlying IFCI have crossed 95% of the market-wide position boundary and it is presently in the ban period.

BEML Filing Red Herring Prospectus With SEBI

After receivingSecurities and Exchange Board of India cabinet’s clearance of a follow-on public offer, BEML is looking to file the red herring prospectus with SEBI this month. “The company was in the process of filing the red herring prospectus (RHP) with SEBI this month. “We intend to hit the market in the first half of June this year," said Natarajan, BEML chairman and managing director.
According to Natarajan, Rs 440-crore public issue would be made entirely through the book-building route. After the follow-on public offer, government holding in BEML would be 55% and the balance would be held by public and financial institutions.

NHPC To Sell 13.6% through IPO

National Hydroelectric Power CorporationOn Thursday, a banker to the deal said that National Hydroelectric Power Corporation is looking to trade 13.6% of the company in an initial public offering to raise upto Rs 25 billion. The plan is to trade 1.12 billion new shares in the IPO, and the government will sell about 55.8 billion shares, an official said. “It could be somewhere between Rs 22-25 billion,” he added.

Air India-Indian Employees To Get Employee Stock Options

The Air India-IndianAir India amalgamation, blustered as the major conjoining in the Indian skies. It may bring a windfall to more than 32,000 workforces of both the companies. Post-merger, the administration is planning to give out employee stock options (Esops) to their employees.
A government official stated that the newly engaged company is named as ‘National Aviation Company,’ which owns up 7.32 crore shares, and a paid-up capital of Rs 73.25 crore.
The total number of shares has been attained after arrogating an exchange proportion of 8:1 that entails eight shares of the blending groups equivalent one share of the new entity.




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