LIVE MARKET TRACKER :   BSE SENSEX   27112.21      |    NSE NIFTY 8114.75    
GLOBAL MARKETS :  NASDAQ 4593.426   +0.68%    |    FSI London 6819.29   +0.57%    |    NIKKEI Japan 16067.57   +1.13%
  USD GBP EUR CAD AUD INR
USD - 0.6087 0.7741 1.0944 1.1134 60.84
GBP 1.6433 - 1.2721 1.7983 1.8296 99.9759
EUR 1.2921 0.7865 - 1.414 1.4386 78.6083
CAD 0.9138 0.5562 0.7074 - 1.0175 55.5982
AUD 0.8984 0.5468 0.6955 0.9832 - 54.658
INR 0.0164 0.01 0.0127 0.018 0.0183 -
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
Four-member panel submits report on new gas pricing formula
(18-Sep-2014)

Four-member panel submits report on new gas pricing formulaA four-member panel of secretaries appointed by the government has submitted the much awaited report on a new gas pricing mechanism, which prescribes lower rate than the price approved by the previous......click on news to read complete article.

RIL, Sun Pharma and Apollo Tyres to see some action today
(18-Sep-2014)

RIL, Sun Pharma and Apollo Tyres to see some action todayIn a bid to grab the opportunity created by diesel reaching market-parity price, Reliance Industries (RIL) has set the ball rolling on reopening its fuel retail outlets, after a gap of six years, and the......click on news to read complete article.

Biocon, Lanco Infratech and Tata Steel to see some action today
(10-Sep-2014)

Biocon, Lanco Infratech and Tata Steel to see some action todayDrug maker Biocon has acquired GE Capital's entire 7.69 percent stake in its research services subsidiary Syngene International for Rs 215.38 crore. The company, which had sold the stake to GE on October......click on news to read complete article.

International Stock News
US markets closed up; Dow hits record high
(18-Sep-2014)

US markets closed up; Dow hits record highThe US markets closed higher on Wednesday, with the Dow Jones Industrial Average reaching a record high. The main benchmarks swung higher after the Fed meeting and Fed Chairwoman Janet Yellen's news conference,......click on news to read complete article.

US markets closed up; S&P posts biggest advance in 4 weeks
(17-Sep-2014)

US markets closed up; S&P posts biggest advance in 4 weeksThe US markets closed higher on Tuesday, sending the Dow Jones Industrial Average to an intraday record high, while the S&P 500 recorded its biggest one-day gain in 4 weeks. Investors also grew......click on news to read complete article.

US markets closed mostly lower; Nasdaq drops to 1-month low
(16-Sep-2014)

US markets closed mostly lower; Nasdaq drops to 1-month lowThe US markets closed mostly lower on Monday, sending the Nasdaq Composite Index near a one-month low, with losses led by technology and small-cap stocks, as investors continued to unload riskier position......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.