LIVE MARKET TRACKER :   BSE SENSEX   22277.23      |    NSE NIFTY 6675.30    
GLOBAL MARKETS :  NASDAQ 4034.161   +0.29%    |    FSI London 6571.55   +0.46%    |    NIKKEI Japan 14417.68   +3.01%
  USD GBP EUR CAD AUD INR
USD - 0.5951 0.7229 1.0979 1.0674 60.395
GBP 1.6807 - 1.2149 1.8452 1.794 101.5041
EUR 1.3835 0.8233 - 1.5189 1.4768 83.5565
CAD 0.9112 0.5423 0.6587 - 0.9727 55.0346
AUD 0.937 0.5576 0.6773 1.0288 - 56.5913
INR 0.0166 0.0099 0.012 0.0182 0.0177 -
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
Retail Inflation snaps three months easing trend at 8.31% in March
(16-Apr-2014)

Retail Inflation snaps three months easing trend at 8.31% in MarchQuestioning the assumptions which that worst is over for Asia's third-largest economy, the provisional annual inflation rate based on all India general Consumer Price Index (CPI) (Combined) disappointed......click on news to read complete article.

India's share in global exports remains unchanged in 2013
(15-Apr-2014)

IndiaIndia's share in global exports and its ranking amongst top exporters remained unchanged in 2013. Although, the country posted a 5 per cent rise over the previous year, by exporting goods worth $312 billion......click on news to read complete article.

Oil Ministry shuns the plan to form panel for fixing gas prices
(11-Apr-2014)

Oil Ministry shuns the plan to form panel for fixing gas pricesThe oil ministry has shunned the plan to form an inter-ministerial committee to determine gas prices every quarter based on the C Rangarajan committee formula and has decided to utilize its own expertise......click on news to read complete article.

International Stock News
US markets gain for the second day in row
(16-Apr-2014)

US markets gain for the second day in rowThe US markets closed higher on Tuesday, following a choppy session, bouncing back from a sizable drop that came after reports of fighting on the ground in Ukraine. Meanwhile, Fed Chairwoman Janet L. Yellen......click on news to read complete article.

US markets gain on good retail sales data
(15-Apr-2014)

US markets gain on good retail sales dataThe US markets closed higher on Monday, reclaiming some of the lost ground of last week, as investors took their cue from an unexpectedly strong rise in March retail sales. The US retail sales rose by......click on news to read complete article.

Asian markets mostly trade weak in early deals on Monday
(14-Apr-2014)

Asian markets mostly trade weak in early deals on MondayMost of the Asian equity benchmarks are trading weak in the early deals on Monday, tracking cues from Wall Street where stocks ended notably lower last Friday due to another round of selling in the technology......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.