Page 967 - Business Finance

Natural gas price to be hiked by 10 pc for ONGC, Reliance

In a boost to firms like ONGC and Reliance Industries, the government is likely to raise the price of domestically produced natural gas by over 10 per cent to over USD 3.72 per million British thermal unit with effect from April 1, sources in know of the development said. The price of gas produced from difficult fields will rise to about USD 9 per million British thermal unit (mmBtu) from current USD 7.67, they said. This will be the fourth straight increase in gas prices. Natural gas prices are set every six months - on April 1 and October 1 every year - based on average rates in gas-surplus nations like the US, Russia and Canada. The rate is calculated by taking a weighted average price at Henry Hub of the US, National Balancing Point of the UK, rates in Alberta (Canada) and Russia with a lag of one quarter. So for April 1 to September 30, period, the average rates prevailing during January 1, 2018, to December 1, 2018, would be taken. Sources said, the rates for 2018 are known and .

Haryana Leather Chemicals standalone net profit rises 311.76% in the December 2018 quarter

Sales rise 17.49% to Rs 10.28 crore

Morganite Crucible (India) standalone net profit rises 10.06% in the December 2018 quarter

Sales rise 17.94% to Rs 31.23 crore

Swadeshi Polytex reports standalone net profit of Rs 3.18 crore in the December 2018 quarter

Sales rise 1044.44% to Rs 4.12 crore

Blue Blends (India) reports standalone net loss of Rs 16.08 crore in the December 2018 quarter

Sales decline 58.23% to Rs 12.58 crore

CHD Developers consolidated net profit rises 170.83% in the December 2018 quarter

Sales rise 11.92% to Rs 35.02 crore

Pritika Auto Industries reports standalone net profit of Rs 0.54 crore in the December 2018 quarter

Reported sales nil

Action Construction Equipments standalone net profit declines 9.38% in the December 2018 quarter

Sales rise 29.95% to Rs 362.64 crore

Celebrity Fashions standalone net profit declines 59.68% in the December 2018 quarter

Sales rise 8.71% to Rs 40.17 crore

Coal India standalone net profit rises 4418.98% in the December 2018 quarter

Sales rise 2.36% to Rs 80.81 crore

Pariksha Fin-Invest-Lease reports standalone net profit of Rs 0.02 crore in the December 2018 quarter

Sales rise 1000.00% to Rs 0.11 crore

Sai Industries reports standalone net loss of Rs 0.01 crore in the December 2018 quarter

Reported sales nil

SBEC Systems (India) standalone net profit rises 133.33% in the December 2018 quarter

Reported sales nil

NLC India standalone net profit rises 5.00% in the December 2018 quarter

Sales rise 9.81% to Rs 1873.82 crore

Himalchuli Food Products reports standalone net loss of Rs 0.01 crore in the December 2018 quarter

Reported sales nil

Ravalgaon Sugar Farm reports standalone net loss of Rs 0.65 crore in the December 2018 quarter

Sales rise 10.51% to Rs 3.05 crore

B & A standalone net profit declines 99.10% in the December 2018 quarter

Sales decline 23.43% to Rs 36.60 crore

Aruna Hotels reports standalone net loss of Rs 10.63 crore in the December 2018 quarter

Reported sales nil

Indian shares open on a positive note following cues from Asian markets

Benchmark indices opened in the positive territory on Wednesday after tracking cues from Asian market amid optimism that the United States and China may be able to work out a solution to resolve the sticky disputes.Shares of realty, FMCG, pharma and banking companies traded higher while IT, media and auto scrips slipped into the negative zone.At 11:15 am, the S&P BSE Sensex was up 138 points at 36,291 while the Nifty rose 36 points at 10,867.Adani Ports was up nearly 5 per cent at Rs 343 while Indianbulls Housing Finance was trading 2.8 per cent higher at Rs 615.50. The prominent other gainers were ITC and Sun Pharma.The losers included Hindustan Petroleum, Zee Entertainment and Hero Motorcorp.Meanwhile, Asian stocks traded on four-month high after officials in Washington and Beijing expressed hopes that a new round of talks which began this week will bring them closer to easing the 7-month trade war.

Realty stocks gain

Key indices hovered with modest gains in mid-morning trade. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 101.95 points or 0.28% at 36,255.57. The Nifty 50 index was up 28.15 points or 0.26% at 10,859.55. Realty stocks rose.