Oil stocks rally; BPCL, HPCL, IOC hit 52-week highs
Among other state-owned OMCs, Oil India, GAIL (India), ONGC shares surged up to 4% amid strong volume trade.
Among other state-owned OMCs, Oil India, GAIL (India), ONGC shares surged up to 4% amid strong volume trade.
OMCs such as IOCL, BPCL, and HPCL are likely to swing back to the black, thanks to sharp narrowing of marketing losses on retail fuels and steady GRMs.
The public sector oil and gas major has declared an interim dividend of ₹6.75 on each equity share of ₹5, resulting in a total payout of ₹8,492 crore.
Total profits of the Fortune India 500 companies declined nearly 22% over the previous year, while cumulative revenues fell by 1.4%.
Public sector companies, in many ways, are the true jewels of the 500 list, and prove to be the best bets for those who want to earn steady returns on investments in the form of equity dividends.
Oil major Shell’s latest annual LNG Outlook talks about the growing importance of gas as an energy source as the world moves towards a low-carbon emission economy.
After two decades of relentlessly investing huge cash flows to create commodity-driven, asset-heavy businesses, the Reliance Industries chairman is thinking IPs, partnerships and, of course, data.
Profit from RIL’s digital services, retail, and refining helped offset weakness in its petrochemicals business.
Since the first Fortune India 500 list, in 2010, Indian Oil has been the topper. But this year, Mukesh Ambani-led Reliance Industries has beaten it to the No.1 spot.
Editor Sourav Majumdar and associate editor and editor (lists) Rajiv Bhuva talk about the Fortune India 500 list and more from the special edition.