Triggering a debate on the need for revising the current domestic natural gas price regime, Oil and Natural Gas Corporation Ltd (ONGC) Chairman Dinesh Kumar Sarraf on Thursday stated that deregulation of gas pricing and marketing rights is necessary in India for the exploration industry to prosper.

He said major challenge that the exploration sector is facing in a low pricing environment would be cost optimisation. With effect from April 1, the government has cut the natural gas price to $2.48 per million British thermal unit (mbtu), which will be effective for six months. Hence, companies had been batting for a cap on pricing of natural gas in India. As per the new gas pricing formula approved in October 2014, gas prices are to be revised every six months.

Coal India Ltd is actively looking to acquire coking coal assets in Australia, a senior company official told Reuters, as the country looks to beef up its foreign coal assets.

The state-controlled company, which in January also listed the United States, Colombia, Canada and Indonesia as target destinations for investment, is currently zeroing in on Australia and South Africa, the Coal India official said.

A week after Microsoft announced its Windows 10 Creators Update, the company introduced new privacy tools that will offer customers more transparency and control. According to a post by Terry Myerson, Executive Vice President of Windows and Devices group (WDG) and Marisa Rogers, WDG Privacy Officer, on Wednesday, the updates will have three new things that will empower customers to be more informed about their privacy in Windows 10.

Over 72 million subscribers have enrolled for Jio’s Prime offering so far, well above our and market expectations. Yet, Reliance extended its free service under Prime by a quarter pushing back monetisation yet again.

We revise our fair value for Reliance to reflect higher value for Jio given the better initial response – however, the stock price is already implying an enterprise value (EV) of $28 billion+, not adequately discounting the risks in our view.

NEW DELHI: Homegrown auto major Tata Motors has received an order for 500 buses from Ivory Coast.

As part of the deal, the company has handed over the first lot of 117 low-floor urban city buses to the African nation, Tata Motors said in a statement today.

NEW DELHI: Senior government officers told TOI that neither bank has approached the Centre with a plan and in any case the plan being discussed at length in the analyst community does not make sense. The government is the largest shareholder in private sector lender Axis Bank through the Specified Undertakings of the erstwhile Unit Trust of India (SUUTI), which holds a 12% stake. SUUTI is part of the promoter group comprising the five government-owned general insurance companies and the Life Insurance Corporation of India.

NEW DELHI: Hyundai Motor India today launched an updated version of its premium hatchback Elite i20 priced between Rs 5.36 lakh and Rs 9.09 lakh (ex-showroom Delhi).

The petrol variants of the car are priced between Rs 5.36 lakh and Rs 9.09 lakh while the diesel trims are tagged between Rs 6.66 lakh and Rs 8.51 lakh.

Domestic investors were cautious ahead of RBI's monetary policy meet as the market benchmark Sensex retreated from record close by falling about 122 points in early trade on Thursday while Asian cues were muted on overnight losses in the US.

The 30-share index, which had gained 353.74 points in the previous three sessions, was trading 121.94 points or 0.40% lower at 29,852.30 with FMCG, banking, healthcare, metal and oil and gas sectors leading the fall. The NSE Nifty was also down by 38.25 points or 0.42% at 9,225.90.

Shiv Sena MP Ravindra Gaikwad who has been banned from flying by several airlines after he allegedly hit an Air India staffer, on Thursday defended himself saying he has not done anything wrong.

"I would request you to listen to my plea and provide me support for the same," said Gaikwad who arrived in Parliament on Thursday for the first time after two weeks.

Newcomer Reliance Jio's 72 million paid customers are "credit positive" for parent Reliance Industries as subscriber enrolment reduces cash flow uncertainty of the telecom business, Moody's Investors Service said today.

Moody's calculation shows that Jio will be able to generate revenue of about Rs 213 billion (Rs 21,300 crore) for the current financial year, assuming all 72 million users pay Rs 303 per 28 days between July 2017 and March 2018.

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