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By Shailesh Yadav The Gas Authority of India Ltd (<keyword id="6358765" type="General" weightage="20" keywordseo="gail" source="Orion">GAIL</keyword>) on Thursday posted a 77.4 per cent slump year-on-year in standalone net profit for the fourth quarter due to the Ukraine-Russia War. The standalone net profit plunged 77.5 per cent year-on-year to Rs 603 crore in the fourth quarter (Q4) against the net profit of Rs 2,683 crore in the year-ago period. Talking to ANI, Sandeep Kumar Gupta, Chairman and Managing Director, GAIL, said that gas prices became very high due to the <keyword id="13010576" type="General" weightage="20" keywordseo="russia-ukraine-war" source="Orion">Russia-Ukraine war</keyword> which impacted the company's profit, despite its highest-ever annual revenue of Rs 1,44,302 crore, which was up 57 per cent, for FY23. Gupta said, "The petrochemical segment was affected, gas prices were not viable and because of it, we had to keep our plant shut and also keep it running at lower levels for a substantial period of the year because we were to service our customers which were tied up at long-term prices." He added, "However, we had to procure high-priced gas to supply to our customers and in transmission because some APM (administered price mechanism) allocation, which was there was taken away, so we had to consume the high-priced natural gas for our internal consumption, too." Now with the cooling of prices now, he said he hoped that all these adverse factors will not be there in the next fiscal and the company should come back to very robust numbers in the ongoing fiscal year. Talking about the current status of the supply-demand ration, the GAIL CMD said, "There was a supply disruption starting from May 22 after the Ukraine-Russia war last year and while this was a portfolio contract and the supplier should have supplied by cargo sourcing from other geographies if it was not possible from a particular territory, but then they did not supply." He also expressed hope, "However, it's good news that now the supplies have resumed from March this year." He said for the last two months, the company was getting the full allocation as per the contract, and hopefully that it would continue. "So, this is a big sort of reassurance on the supply front. And definitely, there is no cut as far as our downstream customers are concerned nowadays," the GAIL CMD said. Talking along the lines of Kirit Parikh Committee recommendation, the CMD said, "This is a very significant positive development that the government accepted the recommendation. This will definitely help." In fact, he said, "We have seen that with the implementation of this recommendation from the first of this year, there was a big drop in CNG (compressed natural gas) and PNG (piped natural gas) and definitely with such softening of prices, the consumption which was not happening in the last year especially will now come to normal levels." He said this would add more new customers, too. "So, definitely this will be a biggest step in taking natural gas to higher levels of consumption," he added. Gupta said, "We are having gas supplies from Qatar, the United States, and Russia from Australia. So, we have a very diverse portfolio of supplies. We are now scouting for new volumes and wherever those new volumes are there. We are talking to all such companies or countries. The new volumes are coming from primarily the Middle East and North America. These are the geographies where the discussions are going on." Talking about the hydrogen plant, Gupta said, "Our first green hydrogen electrolyzer is coming up at Vijaipur, Madhya Pradesh, this will be a capacity of 4.3 tonnes per day and this will be commissioned this year itself." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/small-and-mid-cap-stocks-start-to-outperform-large-cap-stocks/articleshow/100344464.cms">Small and mid cap stocks start to outperform large cap stocks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cheese-burst-quick-service-restaurants-see-muted-growth-ahead/articleshow/100332394.cms">Cheese burst: Quick service restaurants see muted growth ahead</a>

GAIL's net profit slumps 77 pc due to Russia-Ukraine war: CMD

New Delhi, India's largest gas firm GAIL is imitating billionaire Mukesh Ambani-led Reliance Industries Ltd in planning to import ethane from the US to replace natural gas and naphtha as feedstock at its petrochemical plants. "In a bid towards diversification of the feedstock, GAIL is looking to import ethane from ethane-surplus countries with matured export terminal infrastructure through water borne transportation to India and transport it further through GAIL's pipeline systems to demand centres," the company said in a tender document. It sought quotes to hire a very large ethane carrier (VLEC) for 20 years starting mid-2026 for importing ethane from the US. The ship with capacity of 80,000 to 99,000 cubic metres is targeted to take deliveries from US ports of Marcus Hook, Nederland, Morgan's Point or Beaumont and deliver ethane at Dahej or Hazira in Gujarat or Dabhol in Maharashtra. GAIL has a petrochemical plant at Pata, near Kanpur in Uttar Pradesh, and is also looking to set up another unit at Usar in Maharashtra. The company had to cut down on run rate at Pata after the government diverted gas supplies from the plant to city gas suppliers. This led to its profitability being impacted and so now the company is looking to supplement the feedstock with ethane. Reliance had in 2014 announced ethane plans in 2014 and started importing the feedstock from the US in 2017. It is importing 1.6 million tonnes per annum of ethane and is using six VLECs for transporting it to India. With ethane replacing propane and naphtha used in ethylene production, Reliance is estimated to have saved about USD 450 million annually. Reliance used 2.5 million tonnes a year of naphtha as feedstock in petrochemical crackers and ethane reduced its use by 5,00,000 tonnes, which now could be exported. Ethane is expected to be produced in large volumes in North America due to the shale gas revolution, which has generated an abundance of liquefied natural gas (LNG) and liquefied petroleum gas (LPG). It is primarily used as petrochemical feedstock to produce ethylene by steam cracking. Ethylene is the starting material for making a wide range of products -- from packaging films, wire coatings, and squeeze bottles as well as plastics and synthetic rubber. Reliance uses ethane at its crackers in Dahej and Hazira in Gujarat and Nagothane in Maharashtra. GAIL in the tender said it is looking at co-transportation of ethane and LNG through the same vessel loaded in separate compartments. "Bidders may indicate whether the vessel offered for time-charter is compatible for part loading of ethane and LNG. In case of co-transportation the primary and secondary fuel options may necessarily be indicated," GAIL said. GAIL said the 20 year charter hire agreement can be extended by a further 5 years. Last date for submission of an expression of interest (EoI) for offering VLECs is February 25.

GAIL takes the 'Reliance route' with its US ethane plans

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Billionaire <keyword id="3820" type="General" weightage="100" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>'s <keyword id="13923185" type="DOMAIN" weightage="20" keywordseo="reliance-industries-ltd" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="reliance industries ltd" meta.entityname="Reliance Chemotex Industries Ltd." meta.entityid="12329" meta.seoname="reliance-chemotex-industries-ltd">Reliance Industries Ltd</keyword> and state-owned <keyword id="64243" type="DOMAIN" weightage="20" keywordseo="oil-and-natural-gas-corporation" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="oil and natural gas corporation" meta.entityname="Oil And Natural Gas Corporation Ltd." meta.entityid="11599" meta.seoname="oil-and-natural-gas-corporation-ltd">Oil and Natural Gas Corporation</keyword> (<keyword id="6354737" type="General" weightage="20" keywordseo="ONGC" source="Orion">ONGC</keyword>) are separately auctioning natural gas extracted from coal seams at prices linked to Brent crude oil price. <keyword id="10926" type="DOMAIN" weightage="20" keywordseo="reliance" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="reliance" meta.entityname="Reliance Industries Ltd." meta.entityid="13215" meta.seoname="reliance-industries-ltd">Reliance</keyword> is seeking a minimum USD 12.75 per million British thermal unit for coal bed methane (CBM) from a block in Shahdol district of Madhya Pradesh, while <keyword id="6354737" type="DOMAIN" weightage="20" keywordseo="ongc" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="ongc" meta.entityname="Oil And Natural Gas Corporation Ltd." meta.entityid="11599" meta.seoname="oil-and-natural-gas-corporation-ltd">ONGC</keyword> wants USD 9.35 for the same kind of fuel from North Karanpura in Jharkhand, according to tender documents. Reliance has sought bids for sale of 0.65 million standard cubic meters per day from CBM block SP(West)-CBM-2001/1 for one year beginning April 1, 2023, the company's tender document showed. It asked bidders to quote a variable 'v' as a percentage of dated Brent crude oil price. Starting bid price has been kept as 15 per cent of Brent ('v' = 15 per cent). At the current Brent price of USD 85 per barrel, this translates into a price of USD 12.75 per mmBtu. e-bidding will happen on February 24. ONGC has offered 0.015 mmscmd of gas from North Karanpura (NK) block in Jharkhand for 3 years. It asked bidders to quote a premium 'p' as a percentage of Brent price. The reserve or bid start price has been kept at 11 per cent of Dated Brent price (USD 9.35 per mmBtu at Brent oil price of USD 85 per barrel). Price of gas "shall be higher of the reserve gas price plus quoted premium (p) or floor price plus quoted premium (p)," ONGC said. The floor price will be USD 1 per mmBtu higher than the domestic gas price (which currently is USD 8.57 per mmBtu). The e-auction of ONGC gas will take place on March 2, it said. CBM is an unconventional form of natural gas found in coal deposits or coal seams. Just like natural gas, it can be used to produce electricity and as feedstock for fertilisers, industrial uses such as in cement production, rolling mills, steel plants, and for methanol production. It can also be compressed into CNG for use as fuel in automobiles or piped to household kitchens for cooking. While the government every six months fixes the price of natural gas produced from conventional fields, the pricing of gas from coal seams, called CBM, is free or market-determined. The minimum price ONGC is seeking in the latest tender is less than what it had sought for CBM from a Bokaro block in Jharkhand last year. In June 2022, ONGC invited bids for the sale of 0.20 mmscmd at a reserve or floor price of 14 per cent of the Dated Brent crude oil price plus USD 1 per million British thermal unit, the sale tender had shown. Bidders will have to quote a premium they are willing to offer over that reserve price. The floor price was the government-mandated price for domestic natural gas plus a USD 1 per mmBtu mark-up. The "Contract Gas price shall be the higher of the 14 per cent of Dated Brent Price plus USD 1 per mmBtu plus 'P' (the biddable parameter); or the floor price," it had said. At the current Brent crude oil price of USD 85 per barrel, the reserve gas price came to USD 12.9 per mmBtu in that tender. In March last year, Reliance sold <keyword id="922877" type="General" weightage="20" keywordseo="CBM-Gas" source="Orion">CBM gas</keyword> from the Madhya Pradesh block at a big premium to firms, including <keyword id="12051518" type="DOMAIN" weightage="20" keywordseo="gail" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="gail" meta.entityname="GAIL (India) Ltd." meta.entityid="4845" meta.seoname="gail-(india)-ltd">GAIL</keyword>, GSPC and Shell. Reliance had sold 0.65 mmscmd of gas from block SP-(West)-CBM-2001/1 at a USD 8.28 premium over prevailing Brent crude oil prices. The firm had sought bids at a premium over the base of 13.2 per cent of Brent crude oil prices. At the then Brent crude oil price of USD 115 per barrel, the base came to USD 15.18 per mmBtu and adding USD 8.28 premium bid by state-owned gas utility GAIL and other firms, the final price was USD 23.46 per mmBtu. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/cancer-diagnosis-can-affect-a-persons-ability-to-keep-a-job-says-a-study-in-american-academy-of-neurology/articleshow/97866989.cms">Cancer diagnosis can affect a person's ability to keep a job says a study in American Academy of Neurology</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/yamaha-bikes-to-be-e20-compliant-by-end-of-this-year-drives-in-new-range-with-traction-control-system/articleshow/97865654.cms">Entire motorcycle range to be E-20 compliant by end of the year: Yamaha</a>

Reliance seeks $12.75 for CBM gas, ONGC wants $9.35

<ul><li><keyword id="6358765" type="General" weightage="20" keywordseo="GAIL" source="Orion">GAIL</keyword> is recruiting 48 graduate engineers for a period of one-year training.</li><li>The online application portal will be closed tomorrow, March 16.</li><li>Selected candidates can expect their salary to range between ₹60,000 to ₹1,80,000 per month with other benefits.</li></ul>Gas Authority of India Limited (GAIL), a government-owned natural gas company, is inviting applications from eligible candidates to fill up 48 engineering posts for one year of training. The online application portal will be closed tomorrow, March 16. Selected candidates can expect their salary to range between ₹60,000 to ₹1,80,000 per month with other benefits such as company accommodation, variable dearness allowance (VDA), gratuity and pension, and many more. These are the vacancies — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name of the post </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Executive Trainee (Instrumentation) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Executive Trainee (Mechanical) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Executive Trainee (Electrical) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Eligibility criteria for the roles — <ol><li>The upper age limit for three roles is 26 years, as of March 16, 2022.</li><li>For Instrumentation — Bachelor’s degree in engineering/technology in instrumentation/instrumentation and control/electronics and instrumentation/electrical and instrumentation/electronics/electrical and electronics with at least 65% marks.</li><li>For Mechanical — Bachelor’s degree in engineering/technology in mechanical/ production/ production &amp; industrial/ manufacturing/ mechanical &amp; automobile with minimum 65% marks. </li><li>For Electrical — Bachelor's degree in engineering/technology in electrical/ electrical &amp; electronics with minimum 65% marks.</li><li>Only full-time regular courses will be considered.</li><li>All qualifications must be from University Grants Commission (UGC) recognised Indian university/UGC recognized Indian deemed university or All India Council for Technical Education (AICTE) approved courses from autonomous Indian institutions/concerned statutory council.</li><li>Candidates having 5 years bachelor of engineering (B.E)/bachelor of technology (B. Tech) with master of engineering (M.E)/master of technology (M. Tech). integrated dual degree in engineering in relevant discipline shall also be considered.</li></ol>Candidates who successfully complete one-year training at the organisation will be absorbed and posted for any jobs/functions/assignments according to the company’s needs. Interested candidates will first have to appear for Graduate Aptitude Test in Engineering (GATE) 2022, as the company will be considering marks scored in this examination. Interested candidates can seek more information <a href="https://gailonline.com/careers/currentOpnning/DETAILED_ADVT_GATE_2022_English_14.2.22.pdf">here</a> or apply <a href="https://gailonline.com/">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-says-that-restrictions-on-payments-bank-wont-hamper-its-business/articleshow/90215959.cms">Paytm says that restrictions on Payments Bank won’t hamper its business</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/apple-supplier-foxconn-halts-production-at-its-shenzhen-plants-after-sudden-covid-19-outbreak/articleshow/90215795.cms">Apple supplier Foxconn halts production at its Shenzhen plants after sudden COVID-19 outbreak</a>

GAIL is hiring engineers with a maximum pay scale of ₹1,80,000 per month, deadline tomorrow

<ul><li>The 30-share BSE index was trading 353 points higher, and the broader NSE Nifty climbed 0.88% on Wednesday at 10:00 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Indian equity benchmark indexes rose for an eighth straight session on Wednesday, hitting record highs, driven by strong earnings reports and gains in pharmaceutical stocks. The 30-share BSE index was trading 353 points higher, and the broader NSE Nifty climbed 0.88% on Wednesday at 10:00 am. Nifty50's market cap crossed ₹100 trillion-mark for the first time, today. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr></tbody></table>*as of November 11, 9:55 am These are the top stocks in news today. NMDC shares shed 4% post shares buyback announcement State-owned NMDC lost over 4% after the board of the company approved buyback of 13.12 crore equity shares at a price of ₹105 per share for cash consideration not exceeding ₹1378.05 crore. The buyback price is at a premium of 10% to the closing price of November 10. GAIL extend gains to the second day The shares of gas transportation utility GAIL rose for the second day in a row on Wednesday. The company reported 16.5% growth in its net profit for the second quarter of the current financial year to ₹1,239 crore as compared to ₹1,065 crore profit in the corresponding period last year. Aarti Industries down 3% The shares of chemical manufacturing company Aarti Industries lost 3% after it reported a 5.46% drop in its consolidated net profit to ₹143.50 crore. The profit plunged despite 18.68% growth in its revenues to ₹1,172.64 crore. SBI gains over 2% The shares of public sector bank SBI gained over 2% after its board approved to divest over 8.5% in UTI Trustee Company. Wipro up over a percent after winning a five-year contract The shares of IT major gained over a percent after Wipro bagged a five-year contract for software engineering services fromThoughtSpot. California headquartered ThoughtSpot is a search and Artificial Intelligence-driven analytics platform that helps explore, analyse and share real-time business analytics data easily, the company said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/the-worlds-longest-flight-just-quietly-touched-down-in-new-york-heres-why-you-havent-heard-anything-about-it-/articleshow/79161300.cms" data-type="tilCustomLink">The world's longest flight just quietly touched down in New York. Here's why you haven't heard anything about it.</a> <a href="https://www.businessinsider.in/tech/news/apple-brought-back-the-iconic-and-im-a-pc-character-at-its-new-product-event/articleshow/79161458.cms" data-type="tilCustomLink">Apple brought back the iconic 'And I'm a PC' character at its new product event</a>

Nifty50 market cap crosses ₹100 lakh crore — these are the top movers today

<ul><li>The SGX Nifty was trading 0.67% lower at 7:45 am, indicating a subdued start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Despite positive cues from the western markets, the Indian equities may open on a cautious note on Tuesday. The SGX Nifty was trading 0.67% lower at 7:45 am, indicating a subdued start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/dow-closes-835-points-higher-after-hitting-intraday-record-on-pfizer-vaccine-enthusiasm/articleshow/79139613.cms">U.S. stock markets soared on Monday</a>, the progress in the development of a COVID-19 vaccine was all that investors needed to hear to help propel stocks to hit new heights. The Dow Jones Industrial Average closed 835 points higher after hitting an intraday record on Pfizer vaccine news, and the S&amp;P 500 gained 1.17%. These are the stocks to watch out for during the trading session on November 10: Pfizer Limited <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms">Pfizer says an early peek at its vaccine</a> data suggests that its shots prevented more than 90% of symptomatic infection, indicating the company is on track later this month to file an emergency use application with U.S. regulators. The shares of Pfizer Limited ended 0.19% higher on Monday. <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword> Mortgage lender HDFC has reduced its retail prime lending rate (RPLR) on housing loans by 10 basis points (0.10%). The change will benefit all existing HDFC retail home loan customers, it added. The shares of HDFC ended 0.82% higher on Monday. <keyword id="281546" type="COMPANY" weightage="20" keywordseo="HFCL">HFCL</keyword> HFCL has received a letter of award worth ₹678.50 crore from L&amp;T for the supply of I.T. equipment, software solutions and associated equipment. The project is expected to be completed by April next year. The shares of HFCL ended flat on Monday. Tata Consultancy Services Tata Consultancy Services (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>) and Deutsche Bank AG announced an agreement, under which TCS will acquire 100% shares of Postbank Systems AG (PBS) from the latter. PBS is the full-range captive I.T. service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS has around 1,500 employees and they will become a part of TCS after acquisition. The shares of Tata Consultancy Services ended 0.69% higher on Monday. Engineers India Engineers India board is slated to meet on November 12 to consider buyback of equity shares. The shares of Engineers India ended 0.59% lower on Monday. <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">Inox Leisure</keyword> The cinema giant Inox Leisure has launched qualified institutional placement (QIP) at ₹263.1 per share. The floor price is set at a 1.42% discount to Monday’s closing price. The shares of Inox Leisure ended 0.53% higher on Monday. Oil India State-owned oil and gas explorer Oil India Ltd (OIL) on Monday reported a net profit of ₹238.95 crore during the second quarter compared to a net loss of ₹248.61 crore during the sequential quarter. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin reduced to 37.21% in Q2 from 43.39% in the same quarter last year. The shares of Oil India ended 0.69% higher on Monday. <keyword id="105485" type="COMPANY" weightage="20" keywordseo="GAIL-India">GAIL India</keyword>, Mahindra &amp; Mahindra, Hindalco Industries, Tata Power and GMR Infrastructure GAIL India, <a href="https://www.businessinsider.in/business/auto/news/mm-q2-earnings-tomorrow-profit-likely-to-fall-19-percent-but-tractor-sales-may-help-revenue/articleshow/79129620.cms">Mahindra &amp; Mahindra</a>, Hindalco Industries, Tata Power and GMR Infrastructure are the companies among others that are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms" data-type="tilCustomLink">Pfizer’s COVID-19 vaccine is 90% effective in preventing coronavirus in those who haven’t been infected ever before, shows data from latest trials</a> <a href="https://www.businessinsider.in/business/auto/news/mm-q2-earnings-tomorrow-profit-likely-to-fall-19-percent-but-tractor-sales-may-help-revenue/articleshow/79129620.cms" data-type="tilCustomLink">Strong tractor sales may cushion M&amp;M’s revenue but profit is likely to remain under pressure, say analysts</a>

Top stocks to watch — Pfizer, HDFC, TCS, HFCL, Inox Leisure, M&M, GAIL India, Oil India and others

<ul><li>At 7:49 am, the SGX Nifty was trading 0.98% higher, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global market, the Indian stock market is likely to open higher. At 7:49 am, the SGX Nifty was trading up 0.98%, indicating a green start for Nifty50. The US stocks also ended in the green on Wednesday on the back of further stimulus hopes. The Dow Jones Industrial Average closed 1.20% higher; whereas the S&amp;P 500 was down 28 points on Wednesday. These are the stocks to watch out for during the trading session on October 1: Reliance Industries (RIL) Mukesh Ambani’s owned Reliance Retail Ventures Limited has<a href="https://www.businessinsider.in/business/news/reliance-retail-raises-another-1875-crore-as-silver-lake-comes-back-with-an-additional-investment/articleshow/78412992.cms"> raised ₹1,875 crore </a>from Silver Lake co-investors. The shares of RIL ended 0.49% lower yesterday Oil and Natural Gas Corp, GAIL India, Oil India and other natural gas stocks The stocks of natural gas companies will be in focus today as the Indian government slashed the rate by 25% to $1.79 for the period of October 2020 to March 2021. This is the price at which most of the natural gas produced in India is sold. The shares of Oil and Natural Gas Corp and GAIL Limited ended 2% lower yesterday, whereas Oil India was up nearly 2%. Also watch out for IGL, MGL and Gujarat Gas. Inox Leisure and PVR Limited As part of the unlock 5.0 guidelines, the Ministry of Home Affairs (MHA) has allowed reopening of cinema halls from October 15. The stock of Inox Leisure and PVR Limited will be in focus today during the trade. The shares of Inox Leisure and PVR LImited ended 2% higher yesterday. Lupin The drug major Lupin launched Lapatinib tablets, used in the treatment of advanced or metastatic breast cancer, in the US market. The company has launched Lapatinib tablets in the strength of 250 mg after its alliance partner Natco Pharma received final approval for its abbreviated new drug application (ANDA) from the United States Food and Drug Administration (USFDA), it said in a statement. The shares of Lupin ended 0.8% higher yesterday. Sanofi India Sanofi India on Wednesday launched a booster vaccine for preschoolers to protect against four major diseases - diphtheria, pertussis, tetanus and polio. “Booster vaccines are designed to boost the immunity acquired during prior vaccination,” the company said. The shares of Sanofi India ended 1.4% higher yesterday. Dhanlaxmi Bank Shareholders of Dhanlaxmi Bank ousted chief Sunil Gurbaxani, little over seven months after he assumed charge of the lender. This came a day after the Reserve Bank of India appointed its General Manager D K Kashyap on the board of the bank for two years. The shares of Dhanlaxmi Bank ended 1% lower yesterday. Punjab National Bank The state-run public sector bank Punjab National Bank (PNB) declared its ₹1,203.26 crore exposure to Sintex Industries as a fraud. The shares of Punjab National Bank ended 2% lower yesterday. HDFC Limited The National Housing Bank imposed a monetary penalty of ₹1.5 lakh on HDFC Limited for non-compliance of the housing finance companies directions. The shares of HDFC Limited ended 1.16% higher yesterday. Bank of Baroda The state-run Bank of Baroda has dissolved its wholly-owned arm BOB (UK) in the United Kingdom with effect from September 22. The shares of Bank of Baroda ended 0.85% lower yesterday. Auto stocks in focus today Watch out for the likes of Maruti, Tata Motors and other listed auto stocks as they report their monthly sales for September. The <a href="https://www.businessinsider.in/business/auto/news/cars-and-tractor-sales-likely-to-remain-healthy-but-commercial-vehicles-may-feel-the-pain-in-september-month-sale/articleshow/78407001.cms">estimates from brokerages</a> showed that passenger vehicles and farm equipment would report strong growth. However, the situation for the commercial vehicle segment will continue to remain grim. Mazagon Dock, Likhitha Infrastructure and UTI AMC The IPO subscription for Mazagon Dock, Likhitha Infrastructure and UTI AMC will close today. CAMS, Chemcon <a href="https://www.businessinsider.in/stock-market/news/cams-ipo-shares-are-trading-at-over-25-premium-in-the-grey-market/articleshow/78400317.cms">CAMS </a>and <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-for-chemcon-ipo-share-price-trading-at-over-111/articleshow/78404223.cms">Chemcon shares </a>are slated to hit the bourses today. The grey market premium for the companies suggests a bumper listing ahead. SEE ALSO: <a href="https://www.businessinsider.in/india/news/from-income-tax-to-credit-card-payment-here-are-all-the-rules-changing-from-october-1/articleshow/78418580.cms" data-type="tilCustomLink">From income tax to credit card payment - here are all the rules changing from October 1</a> <a href="https://www.businessinsider.in/business/auto/news/cars-and-tractor-sales-likely-to-remain-healthy-but-commercial-vehicles-may-feel-the-pain-in-september-month-sale/articleshow/78407001.cms" data-type="tilCustomLink">All eyes on September auto sales — Cars and tractor sales likely to remain healthy but commercial vehicles may feel the pain</a> <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-expected-to-outperform-bajaj-auto-and-tvs-sales-numbers-in-september-two-wheeler-sales/articleshow/78407559.cms?upcache=2" data-type="tilCustomLink">September two-wheeler sales expectations — Hero MotoCorp expected to outperform Bajaj Auto and TVS Motor</a>

Top stocks to watch— RIL, ONGC, HDFC, GAIL, PVR, Oil India, Lupin, PNB, Dhanlaxmi Bank and others

<ul><li>At 7:45 am, the SGX Nifty was up 0.67%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>The Indian stock market is likely to open in green on Friday, amid positive cues from the global market. At 7:45 am, the SGX Nifty was up 0.67% pointing towards a higher start for Nifty50. In global markets, the US stocks gained on back of strong housing data and as revival of stimulus talks overshadowed the COVID-19 concerns. The Dow Jones Industrial Average ended up 0.20% higher, and the S&amp;P 500 gained nearly 10 points towards the end of trading. These are the stocks to watch out for during the trading session on September 25: Tata Consumer Products According to <a href="https://www.business-standard.com/article/companies/tata-consumer-products-plans-to-bid-for-coffee-day-s-vending-business-120092401736_1.html">media reports,</a> the consumer arm of Tata Group, Tata Consumer Products is planning to bid for the vending machine business of Coffee Day Enterprises. The reports claim that the board of Tata Consumer had approved the proposal to explore an acquisition of the operation from Coffee Day. The shares of Tata Consumer Products ended 2% lower yesterday. Shriram City Union Finance India’s central bank, RBI has levied a ₹5 lakh penalty on the Chennai-based Shriram City Union Finance for non-compliance with its directions on verification of the ownership of gold jewellery contained in NBFC. The shares of Shriram City Union Finance ended 3% lower yesterday. Mahindra and Mahindra Anand Mahindra-led automotive major, Mahindra &amp; Mahindra (M&amp;M) bought more shares in Finland-based harvester maker Sampo Rosenlew Oy. M&amp;M had picked up a 35% stake in the Finnish firm in 2016 before raising it to 49.1% over the next four years, and now it has spent ₹18 crore to increase its stake to 74.97% stake in the firm. The shares of M&amp;M ended 5% lower yesterday. GAIL and ONGC GAIL (India) has cut supplies by about 40% to customers, mainly power and fertiliser companies, after a pipeline rupture led to a fire in an ONGC’s Gujarat plant. GAIL in a statement said “about 30 mmscmd of natural gas supplies into its north-western pipeline network (HVJ system) was immediately shut-off” following the fire. The shares of GAIL and ONGC ended 4% and 3% lower, respectively, yesterday. Tata Consultancy Services (TCS) Tata Consultancy Services (TCS) said it has been hired as a digital transformation partner by women fashion retail chain Maurices. TCS will help the company build its greenfield IT ecosystem with the intent of optimising its 200 existing applications and software components within the next 17 months. The shares of TCS ended 6% lower yesterday. RITES The engineering consultancy company, RITES has bagged a ₹206 crore contract to construct four roads over bridges in Andhra Pradesh from Indian Railways. “RITES Ltd has been awarded a turnkey contract for construction of (ROBs) in replacement of existing level crossings on competition basis from Railway Board amounting to Rs 205.85 crore,” the company said in a statement. The shares of RITES ended 1.3% lower yesterday. Marico The FMCG major Marico said it has divested its entire stake in the fitness app Revolutionary Fitness (Revofit). The shares of Marico ended 1% higher yesterday. Divi's Laboratories and SBI Life Insurance Divi's Laboratories and SBI Life Insurance will replace Bharti Infratel and Zee Entertainment Enterprises on the Nifty 50 benchmark index today. The shares of Divi's Laboratories ended 4% lower yesterday, while SBI Life was down 5% on NSE. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-down-7-this-week-sees-the-second-worst-fall-this-year-these-are-the-reasons-behind-the-sell-offs/articleshow/78297469.cms" data-type="tilCustomLink">Sensex down 7% this week, sees the second-worst fall this year— these are the reasons behind the sell-off</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-and-sbi-customers-are-facing-upi-payment-glitches/articleshow/78293815.cms" data-type="tilCustomLink">HDFC Bank and SBI customers are facing UPI payment glitches</a>

Top stocks to watch— Tata Consumer, TCS, GAIL, Divi's Laboratories, SBI Life Insurance, ONGC, M&M, RITES and others

The central government's decision to increase the domestic administered pricing mechanism (APM) gas price will negate the benefit of increased APM gas allocation to compressed natural gas (CNG) players, <keyword id="151304" type="General" weightage="100" keywordseo="jefferies" source="Orion">Jefferies</keyword> said in a report. In a report, Jefferies said the CNG players have limited room to increase the prices given worsening economics. According to the report, GAIL, Indraprastha Gas and <keyword id="156122" type="General" weightage="80" keywordseo="mahanagar-gas" source="Orion">Mahanagar Gas</keyword> are the key losers, <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Ltd could be a marginal beneficiary. The allocation of high pressure and high temperature (HPHT) gas from Reliance Industries' KG Field by end of 2022 and new pricing formula from a government appointed committee could provide some respite. The APM gas price has been revised from $6.26/mmbtu (effective) to $8.57/mmbtu while HPHT gas price has been revised from $9.9/mmbtu to $12.5/mmbtu. The government-appointed committee under Kirit Parikh has been asked to submit its recommendation on domestic gas pricing by mid-October. Jefferoes said Indraprastha Gas needs to raise CNG price by about Rs 8/kg and <keyword id="222307" type="General" weightage="80" keywordseo="mahanagar" source="Orion">Mahanagar</keyword> Gas by Rs 9/kg to pass on the impact of the rise in feedstock cost. This would reduce CNG's discount to gasoline/diesel from about 45/3 0 per cent to about 40/20 per cent for Indraprastha and Mahanagar. This could impact volume growth. For <keyword id="6391571" type="General" weightage="50" keywordseo="gujarat-gas" source="Orion">Gujarat Gas</keyword>, the impact will be relatively small as the priority sector constitutes only about 25 per cent of overall volume, Jefferies said. The rise in APM gas cost roughly offsets the benefit of higher allocation (94 per cent from 85 percent earlier) announced in August for the city gas distributors (CGD). GAIL's feedstock cost for LPG business increases even as LPG prices are falling further hurting profitability. "Continued availability of 94 per cent of CNG requirement from APM pool by diverting volumes from other segments, access to RIL's KG basin gas via the bidding process and pricing strategy will determine volume trajectory. We reckon growing volume via incremental supplies at Spot prices is earnings dilutive," Jefferies said.

You Searched For "GAIL" and got 10 results

GAIL's net profit slumps 77 pc due to Russia-Ukraine war: CMD

ANI

GAIL takes the 'Reliance route' with its US ethane plans

PTI

Ten most recommended stocks by analysts for 2022

Bhakti Makwana

Reliance seeks $12.75 for CBM gas, ONGC wants $9.35

PTI

GAIL is hiring engineers with a maximum pay scale of ₹1,80,000 per month, deadline tomorrow

Vaamanaa Sethi

Nifty50 market cap crosses ₹100 lakh crore — these are the top movers today

Navdeep Yadav

Top stocks to watch — Pfizer, HDFC, TCS, HFCL, Inox Leisure, M&M, GAIL India, Oil India and others

Navdeep Yadav

Top stocks to watch— RIL, ONGC, HDFC, GAIL, PVR, Oil India, Lupin, PNB, Dhanlaxmi Bank and others

Navdeep Yadav

Top stocks to watch— Tata Consumer, TCS, GAIL, Divi's Laboratories, SBI Life Insurance, ONGC, M&M, RITES and others

Navdeep Yadav

Natural gas price increase negative for GAIL, IGL, marginal beneficiary is RIL: Jefferies

IANS

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