Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The state-owned ONGC said the fire at its Surat plant is now under control.</li><li>No casualty or injury has been reported in the incident. </li><li>Watch the video showing massive flames at the ONGC’s Surat plant.</li></ul>A massive fire broke out in Hazira-based gas processing plant of Oil and Natural Gas Corporation (ONGC) in Surat in the early hours of Thursday. The blaze, which was preceded by three blasts, has been extinguished, the official said, adding no one was hurt. The blaze was massive and could be seen from a distance of several km, eyewitnesses said. Some also posted videos of the explosions and the fire on social media. <div type="twitter" handle="ONGC_" handlename="ONGC" image="http://pbs.twimg.com/profile_images/1250694992252727296/DqOt5m01_normal.jpg" favoritecount="182" retweetcount="45" status="A fire was observed in the Hazira Gas processing plant in the morning today. Fire has been brought under control. T… https://t.co/xQJ2a85M9Z" createdat="1600912827000" id="1308949385473032192"></div> "The fire broke out in the inlet gas terminal after three massive blasts at 3.05 am. The compressed gas was depressurised to bring the fire under control," Surat District Collector Dhaval Patel said. <div type="twitter" handle="ANI" handlename="ANI" image="http://pbs.twimg.com/profile_images/1497864299/ani_mic_logo_normal.jpg" favoritecount="149" retweetcount="48" status="#WATCH Gujarat: A fire breaks out at an Oil and Natural Gas Corporation (ONGC) plant in Surat. Fire tenders present… https://t.co/JS0p9k0rJ0" createdat="1600901995000" id="1308903952973520897"></div> Fire vehicles of the ONGC, Surat Municipal Corporation and local industrial units rushed to the spot and brought the blaze under control, he said. The inlet gas terminal where the fire broke out was cordoned off and the plant secured, he said, adding the cause of the fire will be ascertained after cooling operations are completed. No other industry in the area was affected, he said. There was no confirmation from the district administration of reports that the fire was apparently caused by a rupture in the 36-inch Uran-Mumbai gas pipeline. The ONGC in a tweet said, "A fire was observed in the Hazira Gas processing plant in the morning today. Fire has been brought under control. There is no casualty or injury to any person." "Fire has been completely extinguished. Efforts are being made to resume normal operations at the earliest," it said in another tweet. (with inputs from PTI) SEE ALSO: <a href="https://www.businessinsider.in/careers/news/yes-bank-is-hiring-again-for-the-coming-year-after-workforce-shrinks-by-1000-since-march/articleshow/78287419.cms" data-type="tilCustomLink">EXCLUSIVE: YES Bank's workforce shrank by 1,000 employees since March but now it's hiring again for the coming year</a> <a href="https://www.businessinsider.in/business/news/list-of-indias-most-powerful-business-women-of-2020/slidelist/78277386.cms" data-type="tilCustomLink">Roshni Nadar, Divya Gokulnath, Ameera Shah and Vinati Saraf — India’s most powerful businesswomen of 2020, according to Forbes</a>

Massive fire at ONGC’s Surat plant, no casualties reported

The key Indian equity indices continued its recent bear run on Thursday with a gap-down opening. <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> plunged 575 points and the Nifty50 fell below the psychological mark of 11,000. Domestic indices were weighed down by a sell-off in the <keyword id="35189" type="COMPANY" weightage="20" keywordseo="asian-markets">Asian markets</keyword>. The sell-off in the Indian market was led by auto, consumer durables, metal and finance stocks. Around 10.10 a.m., Sensex was trading at 37,092.84, lower by 575.58 points or 1.53 per cent from its previous close of 37,668.42. It opened at 37,282.18 and has so far touched an intra-day high of 37,304.26 and a low of 37,058.79 The Nifty50 on the National Stock Exchange was trading at 10,961.65, lower by 170.20 points or 1.53 per cent from the previous close. Manish Hathiramani, technical analyst with <keyword id="1693325" type="COMPANY" weightage="20" keywordseo="Deen-Dayal-Investments">Deen Dayal Investments</keyword> said: "The index continues to remain weak and any rally up can be used to short this market. 10,900-10,950 is a support range for the market so traders can book profits at the current juncture and use any opportunity to short the October series futures contract at higher levels for a target of 10,750. The resistance on the upside is at 11,300." SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-ril-future-retail-ircon-international-dr-reddys-lab-ongc-hdfc-and-more/articleshow/78288918.cms" data-type="tilCustomLink"> Top stock movers — RIL, Future Retail, Ircon International, Dr Reddy's Lab, ONGC, HDFC and more</a> <a href="https://www.businessinsider.in/india/news/massive-fire-at-hazira-based-gas-processing-plant-ongc-in-surat-updates/articleshow/78287631.cms" data-type="tilCustomLink">Massive fire at ONGC’s Surat plant, no casualties reported</a>

Sensex tanks nearly 600 points, Nifty dips below 11,000 led by finance and auto stocks

<ul><li>At 7:45 am, the SGX Nifty was down 1.14%, indicating a negative 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 red on Thursday, amid the weak sentiments from the global market. At 7:45 am, the SGX Nifty was down 1.14% pointing towards a negative start for Nifty50. In global markets, the US stocks resumed their heavy sell-off amidst weak macroeconomic indicators and overshadowed recovery outlook on Wednesday. The Dow Jones Industrial Average ended up 525.05 points lower, and the S&amp;P 500 was down 2.37%. These are the stocks to watch out for during the trading session on September 24: Zydus Wellness Zydus Wellness board has approved and authorised the opening of the Qualified Institutional Placement issue at ₹1,775.85 per share on September 23. The shares of Zydus Wellness ended 4% lower yesterday. HDFC Limited Housing Development Finance Corporation Ltd (HDFC) is looking to raise up to ₹5,000 crore by issuing bonds on a private placement basis. The issue size for the secured redeemable Non-Convertible Debentures (NCDs) will be ₹2,500 crore with an option to retain oversubscription of up to ₹2,500 crore, it said in a regulatory filing to stock exchanges. The shares of HDFC Limited ended 0.4% lower yesterday. Infrastructure Leasing &amp; Financial Services (<keyword id="6357293" type="UNKNOWN" weightage="20" keywordseo="ILFS">IL&amp;FS</keyword>) The government of India has extended the term of Uday Kotak as non-executive chairman of debt-ridden IL&amp;FS group by one year. Kotak is also the managing director and chief executive officer of Kotak Mahindra Bank. The shares of IL&amp;FS Transportation Networks ended 4% lower yesterday. Tata Consultancy Services IT major Tata Consultancy Services (TCS) along with the US-based Yale University announced the launch of a new framework that could help ensure privacy and trust in peer-to-peer digital networks. The company said this would be a critical element in enhancing blockchain solutions for greater adoption by consumers. The shares of TCS ended 3% lower yesterday. Future Consumer Future Consumer promoter, Future Capital, invoked 36.6 lakh pledged equity shares. The shares of Future Consumer ended 4% lower yesterday. Sun Pharma Sun Pharma voluntarily recalled one lot of RIOMET ER (metformin hydrochloride for extended-release oral suspension), to the consumer level. The reason for the recall by Sun Pharma came after testing showed high levels of N-nitrosodimethylamine (NDMA), which is above the USFDA norms. The shares of Sun Pharma ended 1.3% lower yesterday. ONGC A fire broke out on Thursday morning at ONGC’s Surat plant. According to <a href="https://www.ndtv.com/india-news/massive-fire-breaks-out-at-ongc-plant-in-gujarats-surat-after-gas-pipeline-blast-2300194">reports</a>, three consecutive blasts took place at two terminals of the Hazira-based ONGC plant in Surat at around 3:30 am. The shares of ONGC ended 2.3% lower yesterday. Angel Broking IPO The ₹600 crore IPO of Angel Broking closes today. The issue was subscribed 1.45 times, a retail portion at 2.8 times on day 2, yesterday. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/airbnb-ceo-brian-chesky-on-the-companys-ipo-when-the-markets-ready-for-airbnb-it-will-go-public/articleshow/78276873.cms" data-type="tilCustomLink">Airbnb CEO Brian Chesky on the company's IPO⁠— 'When the market's ready for Airbnb, it will go public'</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-subsidiary-sells-stake-in-altiostar-to-rakuten-for-45-million/articleshow/78273567.cms" data-type="tilCustomLink">Tech Mahindra subsidiary sells stake in Altiostar to Rakuten for $45 million</a>

Top stocks to watch— TCS, Future Consumer, ONGC, Zydus Wellness, HDFC, IL&FS, Angel Broking, Sun Pharma and others

<ul><li>The 30-share BSE index was trading 1.52% lower; while the Nifty50 cracked 150 points at 10:05 am. </li><li>These were 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>Indian stock market index Sensex tumbled over 500 points on Tuesday, led by massive sell-off in global stocks amid heavy foreign fund outflow. The 30-share BSE index was trading 1.52% lower; while the Nifty50 cracked 150 points at 10:05 am. These were 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;">Infratel </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;">Dr. Reddy's Laboratories </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;">Hindalco </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;">Power Grid </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;">Bajaj Finance </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;">Kotak Mahindra Bank </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;">Zee Entertainment Limited </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;">- </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;">Tata Motors </td></tr></tbody></table>*as of September 24, 10:00 am RIL and Future Retail trade in red RIL shares down 1%, while Future Retail lost 5% as the Competition Commission of India (CCI) will examine the online and offline aspects of the Reliance-Future Group deal – separately and together – to ascertain their effect on competition, according to <a href="https://economictimes.indiatimes.com/industry/services/retail/competition-commission-reviewing-both-online-offline-aspects-of-reliance-future-deal/articleshow/78280366.cms?from=mdr">reports</a>. RIL’s retail arm sought the CCI approval for its ₹24,713 crore acquisition of the online and offline businesses of Future Retail. Ircon International shares gains 2% The shares of Ircon International surged 2% in an otherwise weak market after it secured contracts worth over ₹400 crore from the Ministry of Railways. The contracts pertain to works of nine roads over bridges. Dr Reddy's Lab shares up 1% The shares of Dr Reddy's Labs were trading 1% higher after the company received US Food and Drug Administration nod for its hyperparathyroidism drug, Cinacalcet Tablet. HDFC Limited shares down 1% The shares of Housing Development Finance Corporation was down 1% after the company said it is looking to raise up to ₹5,000 crore by issuing bonds on a private placement basis. ONGC shares down 2% The shares of state-owned Oil and Natural Gas company was down 2% after a massive fire broke out in its Surat-based <a href="https://www.businessinsider.in/india/news/massive-fire-at-hazira-based-gas-processing-plant-ongc-in-surat-updates/articleshow/78287631.cms">Hazira gas processing </a>plant in the early hours of Thursday. The reason and the damage due to the fire at ONGC plant are yet to be ascertained. Tata Motors DVR shares up 2% The shares of Tata Motors DVR 'A' Ordinary were up 2% after the parent company Tata Sons bought 37.63 lakh shares in the company at ₹59.83 per share on the NSE. Future Consumer shares down 4% Kishore Biyani owned Future Consumer shares shed 4% value during the early trade hours after the promoter entity Future Capital Investment invoked 36.6 lakh pledged equity shares of Future Consumer. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/yes-bank-is-hiring-again-for-the-coming-year-after-workforce-shrinks-by-1000-since-march/articleshow/78287419.cms" data-type="tilCustomLink">EXCLUSIVE: YES Bank's workforce shrank by 1,000 employees since March but now it's hiring again for the coming year</a> <a href="https://www.businessinsider.in/business/ecommerce/news/online-grocery-market-is-booming-huls-shikhar-app-now-gets-double-the-orders-big-baskets-rakes-in-thrice-the-volume/articleshow/78288794.cms" data-type="tilCustomLink">Online grocery market is booming – HUL's Shikhar app now gets double the orders, Big Baskets rakes in thrice the volume</a>

Top stock movers — RIL, Future Retail, Ircon International, Dr Reddy's Lab, ONGC, HDFC and more

<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

Oil and Natural Gas Corporation (<keyword id="6354737" type="CITY" weightage="20" keywordseo="ONGC">ONGC</keyword>) got a relief of Rs 1,000 crore as the <keyword id="6360101" type="ORGANIZATION" weightage="20" keywordseo="Gujarat-High-Court">Gujarat High Court</keyword> upheld the company’s plea in a dispute with the <keyword id="6370685" type="ORGANIZATION" weightage="20" keywordseo="Gujarat-Government">Gujarat government</keyword>. The state government had asked for <keyword id="6505571" type="ORGANIZATION" weightage="20" keywordseo="Value-Added-Tax">value added tax</keyword> (<keyword id="6370857" type="ORGANIZATION" weightage="20" keywordseo="VAT">VAT</keyword>) worth Rs 1,000 crore. 
 
A division bench of Justice Akil Kureshi and Justice VM Pancholi held that the state government could recover VAT only on the basis of subsidised rates and not on the basis of original rates at which the company sold its petroleum products. The state-run company had moved the High Court following dismissal of its plea by a VAT tribunal. 
 ONGC supplies natural gas to <keyword id="157501" type="ORGANIZATION" weightage="20" keywordseo="Gas-Authority-of-India-Limited">Gas Authority of India Limited</keyword> (<keyword id="6358765" type="CITY" weightage="20" keywordseo="GAIL">GAIL</keyword>) from its Surat plant. It also supplies LPG, kerosene, diesel and naphtha to various oil marketing companies (OMCs). The Union government had ordered ONGC to provide certain products OMCS at subsidised rates, but the Gujarat government demanded VAT on the basis of original rates.

Gujarat High Court Order Gives ONGC Rs 1,000-crore Relief On VAT

<keyword id="5065" type="LOCATION" weightage="20" keywordseo="Ahmedabad">Ahmedabad</keyword>, <keyword id="739481" type="PERSON" weightage="20" keywordseo="Night-curfew">Night curfew</keyword> in Ahmedabad was extended on Monday till further notice to check the spread of <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">COVID-19</keyword> in the <keyword id="6354766" type="LOCATION" weightage="20" keywordseo="Gujarat">Gujarat</keyword> city, police said. The move comes a day after Ahmedabad reported 306 new COVID-19 cases, the highest in Gujarat, taking the tally in the district to 52,030, as per official figures. Earlier, the night curfew came into effect in the city on November 23 and was extended till December 7. In a new notification issued on Monday morning, city Police Commissioner Sanjay Srivastava announced extension of the night curfew till further orders. "There will be a curfew between 9 pm and 6 am beginning December 7 until further order in this regard," the order said. "People must remain indoors during this period. They must not stand on roads, streets or public places and not move around on foot or in vehicles during this period," it said. The notification also announced relaxations for some specific services. It said personnel of the police, civil defence, Central Armed Police Forces, fire and emergency services, homeguards, media outlets, ATM operations and private security agencies have been exempted. Distribution of milk and water, doctors, medical personnel and LPG supply have also been excluded from the purview of the night curfew. People found violating the curfew norms will be booked under Indian Penal Code Section 188 (disobedience to order duly promulgated by public servant), and relevant sections of the Disaster Management Act, said the notification. A similar night curfew has also been enforced in Rajkot, Vadodara and Surat since November 21. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-maruti-suzuki-nmdc-sbi-ongc-eicher-motors-likhitha-infrastructure-tata-consumer-and-others/articleshow/79600409.cms">Top stocks to watch — RIL, Maruti Suzuki, NMDC, SBI, ONGC, Eicher Motors, Likhitha Infrastructure, Tata Consumer, and others</a> <a href="https://www.businessinsider.in/india/news/petrol-is-less-than-a-rupee-away-from-being-more-expensive-than-it-has-ever-been-for-indian-consumers/articleshow/79601841.cms">Petrol is less than a rupee away from being more expensive than it has ever been for Indian consumers</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-ongc-hdfc-bank-nmdc-pfizer-spicejet-indigo-irctc-tata-chemicals-and-others/articleshow/79602525.cms">Top stock movers — ONGC, HDFC Bank, NMDC, Pfizer, SpiceJet, IndiGo, IRCTC, Tata Chemicals, and others</a>

Night curfew extended in Ahmedabad till further notice

New Delhi, Dec 13 () Assam and other North Eastern states may face fuel supply issues if the agitation against the Citizenship Amendment Act continues for another week, as it has already led to the shutdown of refineries and oil-producing facilities in the region.
 Indian Oil Corp (IOC) has been forced to shut down its Digboi refinery in Assam and is operating Guwahati unit at minimal throughput, while Oil India Ltd has been forced to shut LPG production and its crude oil production has dropped by 15-20 per cent, multiple sources at the state-owned companies said.
 Sources said the agitation has blocked the movement of tankers and trucks, which are mostly used to supply petrol, diesel and LPG from the refineries to different parts of the North East.
 With limited storage capacity, the companies have been forced to curtail production in absence of products being evacuated, they said.
 Oil India Ltd has shut LPG production for the same reason, they said, adding the agitation has also limited movement of employees and officers who work at the refineries and oil installations.
 "No employee could reach OIL facilities on Thursday," a source said, adding things improved a bit on Friday but attendance was low.
 Protesters pulled out employees from IOC refineries in Guwahati and Digboi, forcing curtailment of operations.
 Sources said if the agitation were to continue for another 7-10 days, the region may face fuel supply issues as in the absence of fresh replenishment the current stocks will exhaust and supply dry up.
 Bongaigaon, the third refinery in Assam, was already under maintenance shutdown when the agitation broke out.
 Two people were killed and 11 injured in police firing on protestors who have taken to streets since the Parliament approved the Citizenship Amendment Bill that would convert thousands of illegal immigrants into legal residents.
 Sources said OIL suspended LPG as IOC was not able to lift the cooking fuel due to protests. OIL has also stopped all drilling operations as the staff was not able to reach work.
 OIL supplies crude mainly to IOC's Digboi refinery and BPCL's Numaligarh unit.
 The firm has also stopped production from several gas wells, curtailing supplies to tea gardens and power and fertilizer plants. However, operations at Oil and Natural Gas Corp (ONGC) fields have been largely unaffected even though employees could not reach plants at some places, they said. ANZ ABM

Assam, NE to face fuel supply problems if citizenship agitation continues

NEW DELHI: CNG and piped natural gas prices are set to go up shortly, though not as much as feared. Indications emerging from hectic discussions between the oil ministry and <keyword id="71" type="POSITION" weightage="60" keywordseo="Prime-Minister">Prime Minister</keyword>’s Office over the weekend suggest that gas price may be jacked up from $4.2 a unit to $5.5-6.8 per unit. 
 This increase will be almost $2 less than the $8.4 per unit price that was expected on the basis of formula adopted by the <keyword id="26374" type="ORGANIZATION" weightage="80" keywordseo="UPA-government">UPA government</keyword>. But still, the hike will impact daily cost of living, particularly in a city such Delhi where CNG is used for public transport and PNG is increasingly becoming the choice for cooking. 
 
Higher gas price will also have marginal impact on overall cost of power by pushing up electricity tariff for gas-fired plants, which account for roughly 8% of the installed capacity in the country. 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/business/india-business/RIL-charged-more-than-approved-gas-price-CAG-says/articleshow/35730854.cms">RIL charged more than approved gas price, CAG says</a> 
 
Assuming the government finally settles for a price of $6.8, CNG price in Delhi would go up by approximately Rs 7.50 per kg. Hypothetically even after a new gas price is announced, CNG would still be cheaper than what it cost in February. CNG price was reduced by Rs 14.90 per kg and PNG by Rs 5 per unit in February after the Centre said the entire gas demand would be met with cheaper domestic gas. 
 
Subsequently, CNG price in Delhi was raised by Rs 2.95 per kg in May due to falling rupee and rise in operational costs. So, even after this hike, the current price is Rs 11.95 cheaper than February level. Thus the fuel would be still cost Rs 4.45 less than in February. 
 
The discussions within the government are focused on simplifying the pricing formula to avoid doubling of present gas price. In all likelihood, the new formula would have among the benchmarks, markets with friendlier gas price. Thus Russia is expected to replace Japan, a country that imports gas in ships at very high prices. 
 
The new formula is also expected to specify pricing method based on net calorific value (NCV), which works out 10% cheaper than gross calorific value (GCV). NCV is calculated on reduced volumes upon deducting impurities such as water or other gaseous content present in natural gas. 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/news/Will-fight-till-end-to-stop-gas-price-hike-Kejriwal/articleshow/34301914.cms">Will fight till end to stop gas price hike, Kejriwal says</a> 
 
There is also a possibility that the government could opt for a differential pricing by applying the latest pricing only to fields that are currently in production. Others that come on stream in near future, such as state-run ONGC’s marginal fields, would be allowed to sell at market price through tender system. 
 
Such a move is seen serving two purposes: One, it will mark a gradual shift towards market-determined pricing shift-- the original aim of oil sector reforms. Two, in a single stroke it would brighten investment climate by removing clouds over viability of new discoveries – mostly in deep and frontier waters. 
 
Another option on the table also envisages asking ONGC, the biggest beneficiary of any price revision, to part some of the money to share increased fuel subsidy. Taking off on this, there are also suggestions that the government could deregulate diesel price while simultaneously reducing Central levy on the fuel in the Budget to soften the blow on consumers. ONGC then can be asked to share the increased burden on fertilisers. 
 Prime minister <keyword id="6354477" type="PERSON" weightage="40" keywordseo="Narendra-Modi">Narendra Modi</keyword> has held two rounds of brainstorming sessions, mainly focused on the issue, with <keyword id="60115" type="POSITION" weightage="40" keywordseo="Oil-minister">oil minister</keyword> Dharmendra Pradhan and <keyword id="46538" type="POSITION" weightage="40" keywordseo="Petroleum-Secretary">petroleum secretary</keyword> Saurabh Chandra. After a five-hour session on Friday evening, the PM held another round of discussion on Sunday that was also attended by finance minister <keyword id="42575" type="PERSON" weightage="40" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>. 
 
 The framing of policy on gas pricing became a hot potato after a political storm arose during elections over allegations of crony-capitalism, public interest litigation in the Supreme Court as well as arbitration notices served against the government by <keyword id="6355199" type="CITY" weightage="40" keywordseo="Reliance-Industries">Reliance Industries</keyword> Ltd and BP Plc. 
 But subsequent question whether Reliance Industries Ltd should be allowed higher gas price due to drop in output from its KG-D6 field delayed notification. Later, the Election Commission stepped in after a letter from AAP leader <keyword id="260213" type="PERSON" weightage="40" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword>, sending the entire issue into a tailspin.

You Searched For "ONGC surat plant fire" and got 9 results

Massive fire at ONGC’s Surat plant, no casualties reported

Navdeep Yadav

Sensex tanks nearly 600 points, Nifty dips below 11,000 led by finance and auto stocks

IANS

Top stocks to watch— TCS, Future Consumer, ONGC, Zydus Wellness, HDFC, IL&FS, Angel Broking, Sun Pharma and others

Navdeep Yadav

Top stock movers — RIL, Future Retail, Ircon International, Dr Reddy's Lab, ONGC, HDFC and more

Navdeep Yadav

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

Navdeep Yadav

Gujarat High Court Order Gives ONGC Rs 1,000-crore Relief On VAT

BI India Bureau

Night curfew extended in Ahmedabad till further notice

PTI

Assam, NE to face fuel supply problems if citizenship agitation continues

PTI

Gas Price To Go Up, Though Less Than UPA Plan

Times Of India

Popular Keywords

Buying Guides