State-owned Oil Companies Seek Hike In Oil Prices in order to Cover Losses

Government-owned oil companies that are dropping off more than Rs 1.85 billion each day on sale of four fuel products, (petrol, diesel, domestic cooking gas (LPG) and kerosene) are seeking an immediate hike in fuel prices, report agency sources.

In a written reply in Lok Sabha, Dinsha Patel, State Minister for petroleum and natural gas alleged that the state-owned oil marketing companies have wanted correction in the costs of receptive petroleum products because of enhancement in worldwide oil costs.

Akar Tools Board Declares Final Dividend For 2006-07

Akar Tools Ltd.At its meeting held Aug. 14, 2007, the board directors of Akar Tools have sanctioned a dividend of 15% or Rs 1.50 a share of Rs 10 each for the fiscal 2006-07.

Akar Tools declared a fantastic jump in its quarterly net profit for June 2007. The company’s income boosted 2.18 times, to Rs 9.09 million, from Rs 4.17 million in the same period of the last year.

Reliance Retail To Open Up Mega Retail Outlet

Reliance FreshAccording to the reports Reliance Retail is ready to open up 500 hypermarkets crosswise the country by next three years (2010).

The company showed a glance of its jumbo plans by opening up a huge 165,000 sq.ft hypermarket RelianceMart in Ahmedabad, which is largest complete format store in the country.

Global Worries Hit Bourses; Sensex, Nifty Break Up

BSE SensexWith weak worldwide markets activating a substantial sales event, the Sensex plunged over 650 p

Zuari Industries Zooms To New High

Zuari IndustriesZuari Industries touched its 52 week high of Rs 254.90.

Tata Steel Looks Optimistic For Long-Run

TataAccording to technical analyst, Rajat K Bose Tata Steel is the best stock to reap gains in the long-run. The stock will burst after 9-10 months, so it’s better to hold the stock to make higher profits.

Bose told, “The base metals or steel are looking very weak. I was checking the LME base metals charts, alluminium, teen, copper, zinc, they are all looking pretty bad. Some of them have actually gone below 200-day; alluminium has done that recently and has given a sell signal.”

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NALCO Share Price Target Revised to Rs 205 by Prabhudas Lilladher Research

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Britannia Industries Share Price Target at Rs 5,995: Sharekhan Research

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Tata Steel Share Price Jumps 3.6%; Bullish Target at Rs 146 and 153

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