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HPCL, BPCL, Jet Airways gain on fall in oil prices
Posted on 12th July 2018
Shares of airlines and oil marketing companies (OMCs) companies were trading higher by up to 5% on the BSE after the Brent Crude recorded its biggest one-day fall in two years on Wednesday.

All three listed OMCs, Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) were up 3% to 5%. Meanwhile Jet Airways (India), SpiceJet, and InterGlobe Aviation, which runs IndiGo were trading higher in the range of 2% to 5% on the BSE. On comparison, the S&P BSE Sensex was up 0.87% or 316 points at 36,582 at 11:13 am.

“Global benchmark Brent crude oil had its biggest one-day drop in two years on Wednesday as escalating U.S.-China trade tensions threatened to hurt oil demand, and news that Libya would reopen its ports raised expectations of growing supply,” the Reuters report suggested.

Lower crude oil prices could reduce under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.

Fuel costs are the biggest expense for airlines. The size of the oil drop means that more of that revenue will end up as profits.

Related Companies: Hindustan Petroleum Corporation Ltd.(HPCL)   

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BSNL sold 4,000 satellite phones in last year; aims to sell 10,000 handsets by March 2019
Posted on 23rd July 2018
A year since the high-profile launch of its satellite phone services, BSNL has sold 4,000 handsets, majority to government agencies, and expects the number to reach 10,000 by March 2019 riding on fresh demand from corporates and states for the premium service, its Chairman Anupam Shrivastava said.

SBI, PNB and other PSBs alert: Branches likely to be closed in these areas
Posted on 23rd July 2018
Public Sector Banks (PSBs), including State Bank of India, Punjab National Bank, Indian Overseas Bank, IDBI Bank and Bank of India, are likely to shut one-third of their overseas branches. With an aim to tone down the cost and preserve capital, the Public Sector Banks have decided to close 70 of their 216 foreign branches, according to Indian Express report.

Bajaj and Honda neck and neck for No. 2 slot
Posted on 23rd July 2018
The race for the No. 2 motorcycle manufacturer in the domestic market is almost mirroring a see-saw battle between Bajaj Auto and Honda Motorcycle and Scooter India (HMSI) since the beginning of FY18 and the battle continues on the same lines in the current fiscal also. The country’s annual 20-million-unit-strong motorcycle market has three major players — Hero MotoCorp with a market share of 51.5%, followed by Bajaj Auto at 15.6% and HMSI at 15.5%.

Green panel rejects Bharat Coking Coal’s proposal to amend environment clearance
Posted on 23rd July 2018
The government’s green panel has disapproved amendments to the environment clearance sought by Bharat Coking Coal for its Jharia Coalfields in Jharkhand due to the absence of forest clearance, as per the official document. The company’s proposal was to amend the existing environment clearance given for the cluster XI group of mines that has a peak production capacity of 6.6 million tonnes per annum (MTPA) and Moonidih water capacity of 1.6 MTPA.

Customise your car: Tata Motors to let buyers configure their Harrier SUVs
Posted on 23rd July 2018
Tata Motors will soon shift gears to “Do it Yourself” (DIY) mode as a business strategy with the launch of Harrier, a five-seater sports utility vehicle.

As part of the plan, a digital configurator comprising a three-dimensional graphics-based front-end application (app) will allow customers to choose the power train, brakes, suspension types


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