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BusinessToday.in
New Delhi, August 7, 2018
PepsiCo's Indra Nooyi to step down after 12 years as CEOPepsiCo CEO Indra Nooyi will step down on October 3 after a 12-year stint at the helm of food and beverage multinational. The 62-year-old India-born executive has spent 24 years at PepsiCo. The company announced that its Board of Directors has unanimously elected Ramon Laguarta to succeed Nooyi as Chief Executive Officer.Jet Airways releases salaries to employees, decides against pay cutCornered by protesting employees and unflattering media reports over the past week, the country's second largest airline Jet Airways has reportedly scrapped plans to trim its operating costs through salary cuts.Dunkin' Donuts shuts more than half of its stores in India in 2 yearsJubilant FoodWorks Ltd (JFL) the franchisee partner of popular fast food chains like Domino's Pizza has shut down more than half of its Dunkin' Donuts stores across the country in the last two years. According to people in the know it is now focussing more on smaller stores and kiosks to cut its losses. Jubilant FoodWorks confirmed the development and said that they have already brought down their losses to half in the June quarter.Android Pie is official; best features that will make it to your smartphoneFive months after the launch of Android P, the new operating system has been finally made official as Android Pie. The stable build of the operating system is available to Pixel devices and is expected to make it to other phones running on Android P Program and Android One.Govt to invite fresh bids for 100 per cent stake sale in Pawan HansWill the government get third-time lucky in its attempt to sell off Pawan Hans? The Department of Disinvestment and Public Asset Management (DIPAM) has floated the offer to sell government's 51 per cent stake in the profit-making helicopter services provider twice in the past year. And now, after Oil and Natural Gas Corp's (ONGC) board recently approved divesting its entire 49 per cent stake in the entity, the government is going to issue an amended expression of interest (EoI) shortly.Antigua is ready to hand over Mehul Choksi to IndiaAntigua and Barbuda group of islands has assured the Indian government that it will consider its request to extradite Mehul Choksi, co-accused in the Rs 13,600 crore Punjab National Bank loan fraud. The development comes as a shot in the arm for Indian investigative agencies and the government who have been criticised for letting him slip out of the country.


BusinessToday.In
New Delhi, August 6, 2018
The government will soon invite fresh bids for 100 per cent stake sale in Pawan Hans - a joint venture between the government and the country's largest oil and gas explorer - by issuing an addendum to the disinvestment document.


BusinessToday.In
New Delhi, August 3, 2018
Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone; India plans to delay the imposition of retaliatory duties on U.S. goods, the trade ministry said on Thursday; Infosys' acquisition of US-based digital creative and consumer insights agency WongDoody Holding Company for $75 million could just be the beginning of many more deals in the pipeline; ONGC profit rises 58% in Q1 to Rs 61.4 bn on higher net realisation.


BusinessToday.In
New Delhi, August 3, 2018
Apple becomes first publicly listed US firm to hit $1 trillion stock market valuationApple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone. The iphone transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. India likely to postpone raising tariffs on U.S. goodsIndia plans to delay the imposition of retaliatory duties on U.S. goods, the trade ministry said on Thursday, to allow time to resolve disputes that worsened after President Donald Trump imposed tariff hikes on steel and aluminium. Trade differences between India and the United States have been rising since Trump took office Infosys CEO Salil Parekh bets on company's robust balance sheet to plan big acquisitionsInfosys' acquisition of US-based digital creative and consumer insights agency WongDoody Holding Company for $75 million could just be the beginning of many more deals in the pipeline - the company reportedly sees acquisitions as a key element in the three-year roadmap laid out by CEO Salil Parekh.ONGC profit rises 58% in Q1 to Rs 61.4 bn on higher net realisationState-run Oil and Natural Gas Corporation, ONGC has posted a 58 per cent increase in net profit during the first quarter of the financial year 2018-19 to Rs 61.44 billion, compared to Rs 38.85 billion on the back of higher net realisation owing to rise in prices. The company's gross revenue for the period under review was seen 43 per cent up at Rs 272.13 billion.Reliance Jio, SBI Announce Digital Partnership For Banking, Payments And Commerce ServicesAfter the Jio Payments Bank became operational (a 70:30 JV between RIL and SBI) Jio and SBI are deepening their partnership for customers. They are trying to provide a seamless experience with exclusive digital Banking, Payments and Commerce journeys to their customers. Jio and SBI are entering into a digital partnership aimed to increase SBI's digital customer base. For the same, the companies have announced SBI YONO. SBI YONO is an omnichannel platform offering digital banking, commerce and financial superstore services to customers. YONO's digital banking features and solutions will be enabled through the MyJio platform HDFC hikes interest rates on home loans by 20 basis pointsHDFC has hiked interest rates on home loans by 20 basis points, a day after RBI raised the benchmark repo rate by 25 bps to 6.5%. As per the new rates, women borrowers can avail a home loan of upto Rs 30 lakh at 8.7% while other customers will be charged a rate of 8.75%. New rates are effective from 1st August. For loans above Rs 30 lakhs women borrowers will be charged at 8.80% while other borrowers will be charged a rate of 8.85%.


PTI
July 17, 2018
Sentiment got a boost after global crude oil prices dropped by over 4 per cent yesterday owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said.


BusinessToday.In
July 13, 2018
While the Sensex closed 6 points lower to 36,541 level, the Nifty fell just 4 points to 11,018 level. The Sensex gained 282.48 points on Thursday and closed at a record high of 36,283.25 after crude oil prices posted their biggest one-day drop in two years and robust start of the earnings season.


BusinessToday.In
May 25, 2018
The government is now mulling a 'windfall tax' on all oil producers like ONGC in an attempt to moderate fuel prices.


Mail Today Bureau
May 25, 2018
ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), on Thursday reported a 29.6 per cent jump in its net profit to Rs 981 crore for the fiscal year ending March 31, 2018 on the back of a higher output of crude oil and natural gas.


PTI
May 24, 2018



BusinessToday.In
May 23, 2018
The Sensex and Nifty closed lower today dragged by energy stocks such as Hindustan Petroleum Corp and Oil and Natural Gas Corp on rising concern that the government may ask state-owned oil firms to share the burden of higher petrol and diesel prices.The broader NSE Nifty closed 1.01 percent lower at 10,430, while the benchmark BSE Sensex fell 0.88 percent to 34,344. Both the indexes fell over 1 percent in the last hour of trading. SBI was the top Sensex gainer after the bank said worse of the bad loan situation was over in Q4 during its earnings announcement yesterday. NTPC and L&T were the other Sensex gainers. Tata Steel, ONGC and Dr Reddy's were the top Sensex losers. Drug firm Dr Reddy's Laboratories on Tuesday reported a 3.29 per cent fall in its consolidated net profit to Rs 302.2 crore for the fourth quarter ended March 31, 2018, mainly on account of continuing headwinds in the US.The company had posted a net profit of Rs 312.5 crore for the corresponding period of the previous fiscal.Vedanta fell 6.23 percent to its lowest close since June 30, 2017, after a court halted the proposed expansion of Vedanta Resources Plc's copper smelter in Tamil Nadu. On Tuesday, 11 people were killed when police fired on protesters seeking closure of the plant on environmental grounds.Metal stocks were the top losers with the BSE metal index falling 3.93% or 534 points to 13,076 level. The Oil and gas index was the second leading loser on BSE falling 3.45% or 491 points to 13,762 level after the government was said to be considering a decision to cut petrol and diesel prices which have hit all-time highs post Karnataka election results on rising brent crude prices.Market breadth was negative with 1110 stocks closing higher against 1544 stocks ending lower on BSE. 123 stocks were unchanged.


Aseem Thapliyal
May 18, 2018
Every $10 per barrel rise in the price will worsen India's fiscal balance by 0.1% and current account balance by 0.4% of GDP, according to estimates of global financial services major Nomura.


PTI
May 1, 2018



PTI
New Delhi, March 13, 2018
Indian Oil, ONGC and Coal India have emerged as the most profitable PSUs for 2016-17, whereas BSNL, Air India and MTNL incurred the highest losses, according to a government survey tabled in Parliament today.


PTI
March 13, 2018



PTI
New Delhi, February 9, 2018
The company, which operates two refineries in Mumbai and Visakhapatnam in Andhra Pradesh, earned USD 9.04 on turning every barrel of crude oil into fuel in the third quarter.


PTI
February 9, 2018



BusinessToday.in
New Delhi, February 9, 2018
Oil and Natural Gas Corporation (ONGC) recorded a net profit of Rs 5,015 crore in quarter ending December 31, registering 15.2 per cent jump on QoQ basis. The net profit for this quarter is higher than Rs 4,352.33 crore in the same period a year ago.


PTI
February 9, 2018



Mail Today Bureau
January 22, 2018
ONGC has until now been a zero-debt company and this is will be the first time ever that the company will be going in for borrowing to finance its investment.


PTI
January 20, 2018
ONGC will pay Rs 473.97 per share for 77.8 crore shares of the government in Hindustan Petroleum Corp Ltd (HPCL), the company said in a stock exchange filing.


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