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Govt to give 60% stake in ONGC fields to private firms

Govt to give 60% stake in ONGC fields to private firms

Nearly 25 years after ONGC's prime discovered oilfields were privatised, the oil ministry has identified 11 more producing oil and gas fields of the state-run firm for handing over to private firms to raise output.

The ministry is approaching the Cabinet to allow private companies take 60 per cent stake in producing oil and gas fields of national oil companies, ONGC and OIL, with the view that they would raise production above the baseline estimate.

Supreme Court directs mobile service providers, banks to include last date for Aadhaar enrolment in alert messages

Supreme Court directs mobile service providers, banks to include last date for Aadhaar enrolment in alert messages

The bench said that the banks and telecom service providers should indicate the last date of linking bank accounts and mobile numbers with Aadhaar in the messages sent by them to their customers.

Seeking the government’s response on four petitions challenging the constitutional validity of the Aadhaar Act, the Supreme Court on Friday said the banks and telecom service providers should indicate the last date of linking bank accounts and mobile numbers with Aadhaar in the alert messages sent by them to their customers.

2017 ozone hole smallest since 1988: NASA

2017 ozone hole smallest since 1988: NASA

The hole in Earth's ozone layer that forms over Antarctica each September was the smallest observed since 1988, NASA satellite measurements from this year have revealed.

The hole in Earth’s ozone layer that forms over Antarctica each September was the smallest observed since 1988, NASA satellite measurements from this year have revealed. The ozone hole reached its peak extent on September 11, covering an area about two and a half times the size of the US – 7.6 million square miles in extent – and then declined through the remainder of September and into October, according to scientists from NASA.

Yes Bank signs MoU with government for financing Rs 1,000 crore

Yes Bank signs MoU with government for financing Rs 1,000 crore

The funding will be provided to around 100 food processing projects with an average ticket size of Rs 10 crore each, the bank said in a statement.

Private sector lender Yes Bank today signed an agreement with the government to provide Rs 1,000 crore financing for food processing projects.

New India Assurance IPO subscribed by 1.07 times

New India Assurance IPO subscribed by 1.07 times

The initial public offering (IPO) of New India Assurance (NIA) was subscribed by 1.07 times on Thursday, the second day of issue, with investors bidding for 12.87 crore shares against 12 crore shares on offer.

The initial public offering (IPO) of New India Assurance (NIA) was subscribed by 1.07 times on Thursday, the second day of issue, with investors bidding for 12.87 crore shares against 12 crore shares on offer. The qualified institutional buyers (QIB) bid for 12.57 crore shares against 5.82 crore shares on offer.

Sensex peaks 33,692 for first time ever, Airtel nears record high

Sensex peaks 33,692 for first time ever, Airtel nears record high

Indian stock markets extended the record-breaking run with the key equity indices Sensex and Nifty opening at lifetime highs led by the optimism following a positive round of corporate earnings.Indian stock markets extended the record-breaking run with the key equity indices Sensex and Nifty opening at lifetime highs led by the optimism following a positive round of corporate earnings. The early indicator of NSE Nifty was also trading 0.16% higher at 10,472 on the Singapore Stock Exchange.

ITC launches fresh fruit and veggie brand Farmland

ITC launches fresh fruit and veggie brand Farmland

Diversified conglomerate ITC on Thursday forayed into the fresh fruit and vegetables market with a new brand Farmland. Beginning its journey in the highly untapped packaged fresh vegetables market in India with four variants of potatoes, the company plans to come up with more such offerings every quarter in line with its new-found focus on branded fresh and processed food and beverage market.

According to S Sivakumar, head of agri business, ITC, the product category is currently the largest among all fresh fruit and vegetables in India, seeing a total business of Rs 70,000 crore. The new products will be priced at up to 15 per cent premium to unorganised market prices. And their retailers will be allowed to adjust prices depending on retail market prices.

Yashwant Sinha to campaign against BJP in Gujarat

Yashwant Sinha to campaign against BJP in Gujarat

As part of the Lokshahi Bachao Abhiyan, or the campaign to save democracy, Bharatiya Janata Party (BJP) leader Yashwant Sinha will address public meetings in Gujarat in mid-November.

The campaign is led by former Gujarat chief minister Suresh Mehta. Gujarat is scheduled to vote on December 9 and 14.

Punjab National Bank's credit costs to stay high in Q2

Punjab National Bank's credit costs to stay high in Q2

Facing same predicament like most public sector lenders, Punjab National Bank’s credit costs might stay elevated for the second quarter ended September 2017. Credit cost is the amount set aside for bad loans. However, the pace of slippages, advances becoming bad loans, is expected to moderate.

While operating profits will see traction or improvement, the tepid demand for credit will be a drag on interest income, a key component in revenues, said an analyst.

ONGC seeks oil assets in other regions amid Iran row

ONGC seeks oil assets in other regions amid Iran row

India’s ONGC Videsh has turned its focus to buying stakes in overseas oil and gas assets to meet output targets after a delay by Iran in awarding development rights for a gas field, its managing director said on Thursday.

Indian firms led by ONGC Videsh, the foreign investment arm of Oil and Natural Gas Corp, have been negotiating with Iran for development rights of Farzad B gas field since its discovery in 2008.

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