Oil Marketing Companies
GAIL's Rs 1,083 crore buyback offer kicks off: Should you tender shares?
The company has prescribed a buyback ratio of 2 shares for 25 equity shares for reserved category whereas 2 shares for 179 equity shares for general category.
 "GAIL's Rs 1,083 crore buyback offer kicks off: Should you tender shares?")
Distressing times await metals and OMCs
The govt has levied duties on steel exports to curb inflation. But it came as a setback for the metal and oil marketing companies. Find out the impact of this policy decisions and the sector outlook
 "Distressing times await metals and OMCs")
OMCs might require to further raise fuel prices: Fitch Ratings
Fitch cited that robust core refining margins as well as windfall inventory gains should allow OMCs to mitigate potential marketing losses in the near term
 "OMCs might require to further raise fuel prices: Fitch Ratings")
Mumbai, Kandla ports clog as OMCs clamour for select ports for LPG imports
This subsidy is not available for imports done at other ports and so there is a clamour to get the ships only at these ports, four industry sources with direct knowledge of the matter said
 "Mumbai, Kandla ports clog as OMCs clamour for select ports for LPG imports")
Small, frequent spikes in fuel prices to dent consumption, challenge growth
Freight rates on grand trunk routes have shot up 3-4 per cent month-on-month in the past few days, according to the Indian Foundation of Transport Research & Training (IFTRT)
 "Small, frequent spikes in fuel prices to dent consumption, challenge growth")
Sugar mills again allege OMCs differentiating in ethanol purchase tie-ups
The OMCs, on their part, according to earlier reports, said that there is no preference in awarding contracts for supply of ethanol
 "Sugar mills again allege OMCs differentiating in ethanol purchase tie-ups")
Petrol and diesel prices hiked for first time in over four months
Up 80 paise a litre; domestic gas cylinder now dearer by Rs 50
 "Petrol and diesel prices hiked for first time in over four months")
Sensex rebounds 1,059 pts from day's low, ends 697 pts up; RIL leaps 2.5%
CLOSING BELL: Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers
 "Sensex rebounds 1,059 pts from day's low, ends 697 pts up; RIL leaps 2.5%")
Slipping on oil prices
Dual diesel rates will be distortionary
 "Slipping on oil prices")
Ukraine crisis: Oil prices surge as US and Britain cut off Russian crude
Britain said it will phase out the import of Russian oil and oil products by 2022
 "Ukraine crisis: Oil prices surge as US and Britain cut off Russian crude")
Crude oil price spike likely to trigger interest in ethanol programme
According to officials, India has managed to blend almost 9.34 per cent ethanol with petrol in the first quarter of the 2021-22 supply year, which started in December
 "Crude oil price spike likely to trigger interest in ethanol programme")
Huge decline in domestic gas subsidy borne by Centre in 3 years: RTI
The RTI reply revealed that in 2018-19, three state-run OMCs paid Rs 37,585 crore as subsidy, which came down to only Rs 2,706 crore in FY22 till December, Kolarkar told PTI
 "Huge decline in domestic gas subsidy borne by Centre in 3 years: RTI")
BPCL hits 52-week low on likely delay in divestment, soaring oil prices
Even if OMCs are not made to share any under-recovery, the continued pricing intervention would make it utterly difficult to divest government's stake in BPCL, Motilal Oswal said in its report
 "BPCL hits 52-week low on likely delay in divestment, soaring oil prices")
India on course to blend minimum 10% ethanol in 2021-22: Trade sources
Blending crossed 8.93% on Feb 16; trade sources say to achieve the 10% mark, 4.37 bn litres of ethanol are required of which 4.20 bn litres have already been offered via tenders and finalised by OMC
 "India on course to blend minimum 10% ethanol in 2021-22: Trade sources")
Moody's expects OMCs' margins to improve over 12-18 months on higher demand
'We expect the regional refining benchmark to average around $3-4/bbl over the next 12-18 months, balancing our expectations of demand recovery alongside incoming capacity additions,' says Moody's
 "Moody's expects OMCs' margins to improve over 12-18 months on higher demand")
Top headlines: 'OMCs' margins to improve'; 1st phase of UP polls tomorrow
Here are the top headlines on Wednesday
 "Top headlines: 'OMCs' margins to improve'; 1st phase of UP polls tomorrow")
OMCs slash commercial 19 kg LPG cylinder prices by Rs 91.5 to Rs 1,907
It will provide some relief to restaurants, eateries, tea stalls and others which constitute the largest user segment of the 19 kg cylinders
Stocks to Watch: Sun Pharma, UPL, DLF, DB Realty, OMCs, Tata group
Adani Ports, Indian Hotels and Tech Mahindra are some of the prominent companies to announce results today.
 "Stocks to Watch: Sun Pharma, UPL, DLF, DB Realty, OMCs, Tata group")
Delhi HC Division Bench upholds OMCs' penal guidelines for oil retailers
Minimum wage mandate most contentious for retailers
 "Delhi HC Division Bench upholds OMCs' penal guidelines for oil retailers")
Fuel rates remain unchanged on Thursday; petrol in Mumbai at Rs 109.98
Oil marketing companies on Thursday kept the prices of diesel and petrol unchanged across major Indian cities.
 "Fuel rates remain unchanged on Thursday; petrol in Mumbai at Rs 109.98")
