OMC

Despite the near-term volatility, HPCL's valuations remain reasonable, the brokerage noted. The stock trades at 1.4x one-year forward price-to-book, slightly above its long-term average of 1.2x.

Japanese auto major Honda Motor Co Ltd has picked up a minority stake, in the range of 5-10 per cent, in homegrown OMC Power, which is in the process of building up 1 gigawatt (GW) renewable energy portfolio in India, according to industry sources. The investment has come at a time when OMC Power is entering into a new business vertical where the company will deploy electric vehicle (EV) batteries as battery energy storage system (BESS) solution, and re-purpose the old EV batteries to support with UPS (uninterrupted power supply) like the inverters or some similar kind of applications. As per industry sources, Honda Motor is learnt to have picked up a stake of 5-10 per cent in OMC Power and may increase its share in the future. In an interaction, OMC Power MD & CEO Rohit Chandra said both companies had been in talks for over 4 years to work out a business collaboration. It is the result of research and development, market studies, feasibility studies, and customer trials, all of ..

Shipping Ministry wants sectoral players to provide long term contracts for shipowners

At close, Hindustan Petroleum Corporation (HPCL) was up 3.66 per cent, Bharat Petroleum Corporation (BPCL) was up 3.6 per cent and Indian Oil Corporation (IOC) was up 2.4 per cent

Fuel dealers are responsible for carrying fuel to retail outlets on tankers leased from OMCs

Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its domestic steel manufacturing capacity. Tata Steel will also operationalise two new iron mines namely Kalamang West and Gandalpada as part of its strategy to ensure raw material security, the company's Vice President, Raw Material, D B Sundara Ramam told PTI. At present, Tata Steel meets its entire demand for iron ore, a key raw material used for manufacturing steel, from six iron ore mines operated by the company in Odisha and Jharkhand. Ramam said raw material plan has been carved out as leases of four mines -- Noamundi iron ore mine (being operated since 1925), Katamati and Khondbond (since 1933) and Joda East (1956) -- are expiring in March 2030. While two other mines NINL (Mithirda) and Vijay II will continue to remain operational. The mines came along acquisition of NINL plant and Usha Martin's steel business, he .

The uptick in the Indian Oil share came after Jefferies upgraded the company to 'Buy'. The brokerage also raised the target price to Rs 185 per share, according to reports

The volatile geo-political situation should lead to some caution for investors. But given the weakness in global and China demand, these trends could persist

The gross refining margins or GRMs and gross marketing margins for OMCs are critical

The core GRM per barrel in Q4FY24 was actually around $10.6 and the core GRM for FY25-26 could bottom out at $9

Rs 30,000 cr was announced in last year's Budget but never disbursed

The bid document was floated a few days back, and the validity of the bids was till July 31, 2024

State-owned Odisha Mining Corporation (OMC) on Thursday signed a pact with Hindalco Industries for providing long-term raw material linkage for its refinery project at Kansariguda in Rayagada district. The agreement was signed in presence of Chief Minister Naveen Patnaik. OMC MD Balwant Singh his Hindalco counterpart Satish Pai signed the agreement for their respective organisations. The pact will speed up the work for a two-million ton alumina refinery in Rayagada. Terming the development as a significant milestone in the journey of Odisha's industrial growth, Patnaik said the state is poised to become an industrial hub of the East. "Let's co-create a future where business and socio-economic growth go hand in hand, making Odisha a shining example for the world," he said. Patnaik appealed to people of Rayagada to provide support to the refinery project, so that work can start soon and make visible changes in the lives of local people. In June, the state government came up with a n

A 19 kg LPG cylinder will cost Rs 1,680 in Delhi, Rs 1640.50 in Mumbai, and Rs 1,805.50 in Kolkata

This would be a significant rebound compared to the Rs 60,000 crore recorded between financial years 2017 and 2022 and the previous financial year low of Rs 33,000 crore

OilMin writes to Department of Financial Services to end impasse

Fertiliser, food subsidies, payments to OMCs for LPG dominated supplementary demand

In a major relief to senior IAS officer of the Andhra Pradesh cadre, Y. Srilakshmi, the Telangana High Court on Tuesday quashed charges against her in the Obulapuram mining case filed by the CBI

The government's ambitious aim to double the blending target could face challenges from two of the three sources: Grain-based and biomass-based

Brent crude oil prices remained near three-week highs of $92.9 per barrel as of late Thursday