LIVE MARKET TRACKER :   BSE SENSEX   28114.56      |    NSE NIFTY 8532.85    
GLOBAL MARKETS :  NASDAQ 5128.28   -0.01%    |    FSI London 6696.28   +0.41%    |    NIKKEI Japan 20585.24   +0.30%
  USD GBP EUR CAD AUD INR
USD - 0.6405 0.9124 1.3092 1.3704 63.9940
GBP 1.5630 - 1.4261 2.0463 2.1419 100.0226
EUR 1.1061 0.7084 - 1.4480 1.5157 70.7806
CAD 0.7642 0.4895 0.6973 - 1.0473 48.9064
AUD 0.7316 0.4685 0.6675 0.9578 - 46.8154
INR 0.0156 0.0100 0.0143 0.0205 0.0214 -
Indian-Commodity  :  Corporate  :  IOC seeks Rs 13,600 crore subsidy from government: Report

IOC seeks Rs 13,600 crore subsidy from government: Report (26-Dec-2012)

State-run Indian Oil Corporation (IOC) has reportedly sought subsidy payment of Rs 13,600 crore from the government for the first half of current financial year before the company declares the third quarter results. The company also wants the government to reimburse Rs 6,000 crore interest burden on its rapidly increasing borrowings along with compensation on loss of petrol sales to prevent it from reporting heavy losses in the coming quarter.

The company is expected to lose around Rs 21,000-22,000 crore in revenue for Q3FY13. The under-recoveries for the company along with other two retailers, Bharat Petroleum and Hindustan Petroleum, are expected to be Rs 41,000 crore. The company's current borrowings stands at Rs 98,100 crore and is nearing it's threshold limit of around Rs 1,10,000 crore. Its borrowing stood at Rs 75,000 crore at the end of 2011-12.

Indian Oil Corporation is an integrated oil refining and marketing company. The company, along with its subsidiary, controls ten refineries across India, which have a total installed capacity of 65.7 million tonnes per annum (mtpa); these represent around 35 per cent of the country's total installed capacity.


Top News Today
IOC, RCom, Bank of Baroda and Vakrangee to see some action
(31-Jul-2015)

IOC, RCom, Bank of Baroda and Vakrangee to see some actionIndian Oil Corporation (IOC) wants to buy more crude oil from Cairn India's Barmer, Rajasthan fields, but at an acceptable price. The main buyers of Cairn's Rajasthan oil are - Reliance Industries, Essar......click on news to read complete article.

NTPC, SpiceJet and SBI to see some action
(30-Jul-2015)

NTPC, SpiceJet and SBI to see some actionNTPC and the Jharkhand government signed a memorandum of understanding for expansion of the Patratu thermal power station and increase in power production. This came nearly three months after the two sides......click on news to read complete article.

RIL, PNB, Tata Power and Thermax to see some action
(29-Jul-2015)

RIL, PNB, Tata Power and Thermax to see some actionBillionaire Mukesh Ambani's Reliance Industries (RIL) is weighing a sale of its US shale gas investments. The company may sell the holdings as part of a strategic review of its assets, as it believes their......click on news to read complete article.

International Stock News
US markets made a mildly lower close on drop in energy stocks
(01-Aug-2015)

US markets made a mildly lower close on drop in energy stocksUS markets ended the jubilant month of July on a somber note, with major averages making mildly negative close on Friday, on cautiousness about the exact timing of the Federal Reserve finally raising interest......click on news to read complete article.

US markets closed mostly up on encouraging GDP data
(31-Jul-2015)

US markets closed mostly up on encouraging GDP dataThe US markets closed a choppy session mostly in green on Thursday, after data showed the economy picked up its pace in the second quarter, leaving the Federal Reserve on track to raise interest rates......click on news to read complete article.

US markets closed up; Fed keeps interest rate unchanged
(30-Jul-2015)

US markets closed up; Fed keeps interest rate unchangedThe US markets closed higher on Wednesday, after the Federal Reserve offered no clear indication of the timing of the next rate hike, but left itself room to act as early as September, citing continued......click on news to read complete article.

 

     
  
Recent Corporate News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.