PSU OMCS The Middle Of The Meeting EGoM To Discuss Fuel Prices

Shares of state oil companies marketing (PSU MAC) – HPCL, BPCL and Indian Oil Corporation are the reports on meeting authorized a group of ministers (EGoM), led by Minister Pranab Mukherjee is scheduled today, June 24, 2011, to discuss fuel prices. Oil Ministry has reportedly sought to reduce the tax burden of crude oil and petroleum products, and requested a price increase, diesel and cooking fuel to help reduce the losses of the PSU OMCS sell fuel at a reduced price set for the state NRI Online Trading account.

In addition, crude oil fell in New York Thursday, June 23, 2011, after the U.S. and other members of the International Energy Agency said they would release unexpected 60 million barrels of oil on world markets energy to compensate for the loss of production in Libya. The Indian government has been dithering to increase the price of diesel and cooking gas were raised last a year ago.

Stocks of sugar will be developed as a ministerial panel on Thursday allowed the export of five lakh tonnes of additional sugar for the campaign in September. The authorization is for shipments beyond the export quota of 5 lakh tonnes of previously scheduled for that year. The sugar industry had asked to send more than after nearly exhausted sugar export quota to take advantage of rising world prices on concerns of a smaller Brazilian crop.

ICICI Bank has reportedly accepted a loan of Rs 5500 crore to Air India to refinance the cash-strapped national airline. The Bank may order a non-convertible bonds (of disease) to be issued by Air India was 9.8% to help reduce the rising debt of the airline, the report said.

Zee Entertainment Enterprises Board ‘of Directors recommended a dividend of Rs 2 per share for the year ending March 2011.

Jet Airways may have to pay a heavy fine for not taking possession of a plot in Bandra Kurla Complex (BKC), who won in an auction in March 2008. Reports added that the Mumbai Metropolitan Development Authority (MMRDA), which owns land in BKC, said the annual interest rate of 18% will be deducted from Jet Airways, when they finally go to the authority to take possession of the plot.

SpiceJet has reportedly asked for approval of the Reserve Bank of India (RBI) to raise Rs 1212 crore exports from Canada to fund agency Export Development Canada (EDC) to finance the fleet expansion.

The IL & FS Investment Managers is trying to raise a new fund dedicated to the manufacture of pipes (private investment in public enterprises) investments. The company seeks to raise approximately $ 300 million to this fund which will invest in listed companies in the sector.

Shares of ICSA (India) on the ex-dividend date, June 24, 2011 a dividend of 1.80 rupees per share for the year ended March 2011.


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