Go ONGC That The Increase In Gasoline Prices Can Reduce The Burden Of Subsidies

Meanwhile, the BSE Sensex up 158.46 points, or 0.94%, to 17 035

On BSE, 8.87 lakh shares were traded over the counter ONGC.

In stock has reached a level of Rs 277.75 and low of Rs 269.75 so far during the day.

India’s largest oil explorer, state-owned by stock market value has a capital of Rs 4277.74 crore. The nominal value per share, RS fifth

State-owned upstream oil companies to offer discounts on sales of crude oil India in the public sector oil retailers as part of the mechanism of the government, as compensation for selling fuels below cost to keep inflation under control. ONGC shares lion’s share of the burden of support for the upstream oil companies. State marketing oil companies increased prices of gasoline Rs 3.14 RS 3.32 liters, or about 5% from midnight Thursday to pass on the rupee weak effect, which led to higher import cost data. This is the increase in gasoline prices since the ninth were moderate in June 2010.

Meanwhile, the government today, September 16, 2011, extended nearly 11,000 crore rupees Monitoring public offer (FPO) of ONGC. ONGC said in a statement that the government has decided not to proceed with the ONGC PAHO in the schedule mentioned in the Red Herring Prospectus September 5, 2011 and evaluate its decision with respect to the OPS in time. PAHO has been scheduled for September 20, 2011 and September 23, 2011 near

Operating profit rose 11.83% ONGC RS 4094.90 crore turnover increased by 18.7% of RS 16,268 crore in Q1 June 2011 on Q1 June 2010. ONGC support burden grew 118.4% Rs 12 046 crore in Q1 June 2011 over Q1 June 2010.

Thanks to a strong increase in distribution of the subsidy ONGC net realizable sales of crude oil grew by only 1.5% at $ 48.76 per barrel in Q1 June 2011 Q1 June 2010. Gross Realization jumped 50.1% to $ 121.29 per barrel in Q1 June 2011 on Q1 June 2010.


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