From BSE 500 index underperforming since March, GAIL cutting supplies after fire at ONGC plant to S&P on banking system recovery, Business Standard brings you top news of the evening
The reason for the massive fire is being attributed to three consecutive blasts that took place at two terminals of the Hazira-based ONGC plant
GAIL (India) Ltd has cut supplies by about 40% to customers, mainly power and fertiliser companies, after a pipeline rupture led to a fire in an Oil and Natural Gas Corp plant, a company source said
According to media reports, three consecutive blasts that took place at two terminals of the Hazira-based ONGC plant in Surat at around 3:30 am caused the fire
It is also planning to give sops to producers by extending concessions, stretching timelines and asking the finance ministry to reduce oil cess.
From Russian vaccine making its way to India to ONGC withdrawal from Sudan oil fields, here are top headlines this morning
ONGC Videsh (OVL), the overseas investment arm of the state-owned firm, as also its Chinese partner CNPC and Malaysia's Petronas have withdrawn from the block, a top company official said
With not much upside in output and gas prices weak, earnings are expected to be under pressure
The company is scheduled to announce its April-June quarter (Q1FY21) result on Friday, September 11.
ONGC has managed to save its golf courses in Ahmedabad and Vadodara after the department of disinvestment dropped a proposal to divest the company of the 'non-core' assets, sources said.
"Capex flow will get pushed to next fiscal," Subhash Kumar said adding FY21 capex would be around Rs 26,500 crore
All that happened in the markets today
Standalone gross revenue came in at Rs 13,011 crore, down 51 per cent YoY from Rs 26,555 crore posted in Q1FY20
Gross revenue for the quarter at Rs 62,496 crore, down 43% from Rs 1,09,546 crore during the first quarter of FY20
Singh, who completes his five-year term as managing director and CEO next month, took home a record Rs 1.8 crore in fiscal 2019-20 (April 2019 to March 2020)
BHEL's stock has provided a breakout from a falling wedge pattern on the daily chart
From asking students to stay in India to learning more about the plight of migrant workers forced to walk home during the pandemic
Governments have followed different rules for different banks at different times
Says listing regulations don't apply to it as govt makes board appointments
Fresh guidelines will be issued to make them much more stringent for strategic sectors, say sources