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Sensex, Nifty hit new closing highs; ONGC soars 11.5%
Posted on 7th June 2014
Mumbai: The 30-share benchmark S&P BSE Sensex and 50-share CNX Nifty rose to all-time highs in intra-day trade and at close for a second day on Friday as energy shares surged on optimism Prime Minister Narendra Modi will take a decision on raising natural gas prices by the end of this month.

The Sensex closed at a fresh high of 25,396.46 points, up 1.51%, or 376.95 points, while the Nifty ended at a fresh high of 7,583.40, up 1.46%, or 109.30 points.

In intra-day trade, the Sensex gained as much as 1.5%, or 376 points, to 25,395.81, while the Nifty rose as much as 1.5%, or 109.5 points, to 7,583.60 points, all time highs for both indices.

Among gainers, Oil and Natural Gas Corp. Ltd (ONGC) as much as 11.5% to Rs.467.95. The scrip closed 10.57% higher at Rs.464.

GAIL India Ltd rose 7.52% to Rs.420.35, while Reliance Industries Ltd (RIL) jumped 2.97% to Rs.1119.85, after reports that government will take a decision on revising natural gas prices by 1 July,

Among losers, Sesa Sterlite Ltd fell 2.53% to Rs.306.50, while Infosys Ltd shed 1.26% to Rs.2,999.80 after Prasad Thrikutam, global head of strategic sales, marketing and alliances and one of the highest paid executives at the company, resigned.

The S&P BSE Realty and S&P BSE Oil and Gas indices were the top sectoral gainers, up 5.02% and 4.82%, respectively.

Strides Arcolab Ltd surged 9.54% to Rs.599.70, after it said in a BSE notice that it has received US FDA approval for Methoxsalen Softgel Capsules.

Shares of oil marketing companies soared on reports of hike in prices of kerosene and LPG. Bharat Petroleum Corp. Ltd (BPCL) rose 1.74% to Rs.627.60, Hindustan Petroleum Corp. Ltd (HPCL) gained 1.96% to Rs.455.15, while Indian Oil Corp. Ltd (IOC) jumped 1.72% to Rs.373.20.

Shares of sugar companies rose after reports said government is planning to increase export subsidy. Bajaj Hindusthan Ltd soared 9.82% to Rs.30.75, Shree Renuka Sugars Ltd surged 13.44% toRs. 30.80, Dhampur Sugar Mills Ltd climbed 15.21% to Rs.66.65, Balrampur Chini Mills Ltd jumped 7.82% to Rs.84.10, while Triveni Engineering and Industries Ltd rose 10% to Rs.34.10.

Shares of realtors also rose. Sobha Developers Ltd surged 10.68% to Rs.508.45, Mahindra Lifespace Developers Ltd rose 3.02% to Rs.503.50, DLF Ltd jumped 6.10% to Rs.233.05, Anant Raj Ltd rose 7.58% to Rs.78.05, Phoenix Mills Ltd rose 5.18% to Rs.294.50, Housing Development and Infrastructure Ltd rose 3.49% to Rs.106.65, Unitech Ltd jumped 6.24% to Rs.32.35, Godrej Properties Ltd rose 2.41% to Rs.255.05 and Prestige Estates Projects Ltd climbed 6.45% to Rs.229.40.

Hindustan Zinc Ltd added 2.76% to Rs.173.10, after the government has decided to undertake fresh valuation and assessment of fair share value of Hindustan Zinc. The department of disinvestment has sought proposals from merchant bankers in handling valuation of Hindustan Zinc. The bids are sought through advertisement in newspapers on Friday.

Related Companies: Reliance Industries Limited (RIL)      Bharat Petroleum   Hindustan Petroleum Corporation Ltd.(HPCL)

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Posted on 24th January 2020

Shares of Adani Gas slipped 14 per cent to Rs 148 on the BSE in Friday's session on reports that Petroleum and Natural Gas Regulatory Board of India (PNGRB) has sent a notice to the company for failing to disclose crucial information regarding a scheme of arrangement with Adani Enterprises.

According to the report by TV channel CNBC Awaaz, Adani Gas has bid for gas projects using networth calculations of Adani Enterprises and that the company’s shareholding changes and restructuring violated city gas distribution regulations.


Shiv Sena questions Centre on democracy ranking drop, economic woes
Posted on 24th January 2020

The Shiv Sena on Friday said there have been attempts to muzzle dissenting voices and this is one of the reasons for India slipping in the 2019 Democracy Index’s global ranking. An editorial in Sena mouthpiece Saamana said a slowdown in economy gives rise to unrest and instability, and this was getting reflected in the prevailing situation in the country.

Now (after an economic slowdown) there is a slide in (India’s) global democracy index ranking, the Marathi daily said.


Grilled on CAA at WEF, Goyal says Muslims in India safer than anywhere else
Posted on 24th January 2020

Union minister Piyush Goyal on Thursday said Muslims in India are safer than most places in the world.

India is probably one of the most inclusive societies in the world, Goyal said here at a session on 'Strategic Outlook: India' at the WEF 2020.


Judge who issued death warrants against Nirbhaya rapists transferred to Supreme Court registry
Posted on 24th January 2020

A Delhi court judge who issued death warrants for all four convicts in Nirbhaya case has been transferred to the Supreme court registry.

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Companies announce clinical trials for vaccine against China virus
Posted on 24th January 2020

Clinical trials for a vaccine against the new virus sweeping China could be carried out in the summer, the head of an anti-epidemic coalition said on Thursday, as different companies announced research into the disease.

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