LIVE MARKET TRACKER :   BSE SENSEX   26099.22      |    NSE NIFTY 7780.85    
GLOBAL MARKETS :  NASDAQ 4449.564   -0.50%    |    FSI London 6791.55   -0.44%    |    NIKKEI Japan 15518.06   +0.39%
  USD GBP EUR CAD AUD INR
USD - 0.5891 0.7448 1.0812 1.065 60.09
GBP 1.6977 - 1.2644 1.8355 1.808 102.0142
EUR 1.3433 0.7914 - 1.4523 1.4306 80.7189
CAD 0.925 0.5449 0.6889 - 0.9851 55.5843
AUD 0.9396 0.5535 0.6998 1.0159 - 56.4606
INR 0.0166 0.0098 0.0124 0.018 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 eases to 29-month low at 7.31% in June; Core inflation softens too
(15-Jul-2014)

Retail Inflation eases to 29-month low at 7.31% in June; Core inflation softens tooIn yet another encouraging development after four month low headline inflation numbers, provisional annual inflation rate based on all India general Consumer Price Index (CPI) (Combined) softened to 29......click on news to read complete article.

Tata Motors, Infosys and Suzlon to see some action today
(11-Jul-2014)

Tata Motors, Infosys and Suzlon to see some action todayTata Motors-owned luxury car maker Jaguar Land Rover (JLR) has registered its strongest ever half-year sales in 2014 selling over 240,000 vehicles. The UK-based auto major sold 240,372 cars between January......click on news to read complete article.

Railway Budget 2014-15 to be "growth oriented", big ticket announcements eyed
(08-Jul-2014)

Railway Budget 2014-15 to be "growth oriented", big ticket announcements eyedHaving done a pre-Budget hike of 14.2% in passenger fares and raising freight rates, Railway Minister Sadananda Gowda's will present his maiden Rail Budget amidst expectation of big ticket announcements,......click on news to read complete article.

International Stock News
US markets closed in red on weak earnings
(26-Jul-2014)

US markets closed in red on weak earningsThe US markets closed in the red on Friday, as traders reacted negatively to the latest batch of earnings news from Amazon and Visa. Amazon closed the day down 10%, losing more than $15 billion in shareholder......click on news to read complete article.

US markets closed mostly lower; S&P ekes out some gains
(25-Jul-2014)

US markets closed mostly lower; S&P ekes out some gainsThe US markets closed mostly lower on Thursday, while the S&P 500 closed at an all-time high for the 27th time this year. The main benchmarks traded in a narrow range throughout the session, as......click on news to read complete article.

US markets closed mostly up; Dow retreats from highs
(24-Jul-2014)

US markets closed mostly up; Dow retreats from highsThe US markets closed mostly higher on Wednesday, as strong results from companies like Apple and Delta pushed the S&P 500 to close at a record. Investors seemed to have brushed off news that two......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.