New Delhi, Sept. 28: Oil and Natural Gas Corporation (ONGC) has sought a review of the natural gas pricing formula as the prices are likely to go down to about $2.5 per million British thermal unit (mBtu) from October, hitting the revenues of the state-run explorer.

According to oil ministry estimates, prices can drop to $2.25-$2.50 per mBtu from $3.06 on gross calorific value (GCV) basis because of a slump in global prices.

New Delhi: Indian army conducted strikes across the Line of Control (LoC) against terrorist launch pads overnight on Wednesday inflicting heavy damage, the Indian army’s director general of military operations (DGMO) Ranbir Singh said on Thursday.

The Indian army action comes against the backdrop of rising tensions between India and Pakistan over cross-border terrorism across the de facto LoC border in Indian Kashmir in the past few weeks.

The National Stock Exchange (NSE) has extended its concession scheme – NSE MORE – in the transaction charges for the currency derivative segment till November 30.

Earlier, the scheme was available for a period of three months from July 1 to September 30.

The ongoing ad war between national carrier Air India and top low-cost carrier IndiGo is taking new turn everyday with both sides leaving no opportunity to take potshots at each other.

In the latest, Aditya Ghosh, President at InterGlobe Aviation that runs IndiGo, on Wednesday tweeted that his airline is the first to start an international flight from Chandigarh.

Coal India has been asked to pay up the arbitration award in a long-running case between the PSU major and Canadian Commercial Corp over a dispute relating to the construction of a coal extracting facility.

The coal behemoth had objected to the international arbitration award for payment of "substantial costs" arguing that it goes against Indian public policy.

Larsen & Toubro’s (L&T’s) target of doubling its revenue in the next five years would depend on how the economy grew over the period, analysts said.

“There is not much L&T can do internally, it will depend on how the macro factors work out,” said Santosh Yellapu, analyst with Angel Broking.

The Securities and Exchange Board of India (Sebi) has allowed commodity exchanges to introduce trading in options. The regulator on Wednesday said in a circular sent to exchanges that would require its approval, which will be subject to guidelines that would be announced later.

Sebi has refrained from introducing index-based futures as of now. Leading commodity exchanges have their indices, but Sebi wants to finalise a standard methodology. “Traders need to hedge against price change in a particular commodity and not the overall market and, hence, index futures are not given a priority,” explained a person connected with the development.

India is a promising market for initial public offerings with two of its premier stock exchanges, BSE and NSE, registering the maximum number of IPOs in the Europe, Middle East, India and Africa (EMEIA) region worth $1.8 billion, says an EY report.

According to the quarterly EY Global IPO Trends: 2016, the surge in IPO activity was largely being driven by higher investor confidence in the Indian economy and continuing regulatory reforms.

Mumbai, Sept. 27: In an indication of good relations between the two Ambani brothers, younger sibling Anil today said the association between Reliance Jio Infocomm and Reliance Communications had resulted in a "virtual merger" of the two companies.

"Mukesh and Anil Ambani are two brothers working relentlessly to fulfil the dream of Dhirubhai Ambani and this association has accomplished a virtual merger between R-Com and Jio,'' R-Com chairman Anil Ambani told shareholders at the company's AGM here today.

Mumbai: The Indian rupee on Wednesday strengthened for the fifth consecutive session against the US dollar, tracking gains in the local equity markets.

At 2pm, the home currency was trading at 66.46 per dollar, up 0.04% from its previous close of 66.49. The rupee opened and touched a high of 66.44 per dollar.

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