Gujarat High Court asks ONGC to pay royalty dues worth Rs 5,000-6,000 crore to state government

AHMEDABAD: Gujarat High Court has directed Oil and Natural Gas Corporation (ONGC) to pay dues worth Rs 5,000 crore to Rs 6,000 crore to the state government towards differences in royalty of crude the PSU has extracted since 2008. A division bench headed by Chief Justice Bhaskar Bhattacharya and Justice JB Pardiwala yesterday directed ONGC to pay differences in royalty of crude within two months and also pay royalty, henceforth, to state government at market rate .. Source: Economic Times

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Fundamentals April 30, 2013

Nik's Diary The Indian markets opened in the green following strong start to SGX Nifty and major Asian indices after better-than-expected reading on US housing sales and amid speculation that central banks will continue the stimulation measures. The US markets ended on a positive note on Monday with S&P 500 closing at a record high as traders reacted positively to the latest batch of economic news. The strength on Wall Street reflected a positive reaction to a report from the National Association of Realtors showing a bigger than expected rebound in pending home sales in the month of March. The pending home sales index rose by 1.5% in March 2013 after falling by 1% in February 2013. A separate report from the Commerce Department showed that personal spending climbed 0.2% in March 2013 following a 0.7% increase in February 2013. Meanwhile in India, renewed hopes of an interest rate cut at the RBI's monetary policy meet that is scheduled on May 3 helped stocks close high...

Trade deficit for November at USD9.2bn led by lower imports

According to provisional data released by the commerce ministry, the trade deficit for November 2013 has narrowed to USD9.2bn as against USD10.6bn in the previous month and USD17.2bn in November 2012 mainly on account of a sharp decline in imports. Imports reported a contraction of 16.4% during November 2013 as against 14.5% in the previous month and growth of 3.5% in November 2012. However, the momentum of strong export performance witnessed over the past four months slowed in November 2013, with export growth at 5.9% as compared to 13.5% in October 2013. The decline in imports for the sixth consecutive month can be attributed to the steep contraction in non-oil imports due to restrictions on gold imports as well as the impact of weak domestic demand in the economy. Non oil imports reported de-growth of 23.7% as compared to 22.8% in the previous month and oil imports came in lower by 1.1% as compared to growth of 1.7% in the ...

You are still helping by fearing and staying away from equity investing !!!

Yes it is true. Retail investors help markets and its participants more by staying out than by investing in equities itself. Hence optimists like me, do not mind retail investors doing everything else other than investing in equity markets. Let me tell you how it helps us. 1. Keeping your money in low interest bearing savings accounts will help banks raise cheap funds. In such a way you earn taxable 9% per year in fixed deposits and 4 % in saving accounts, whereas we continue accumulating multi lac crore banks like HDFCBank, AxisBank, ICICIBank, SBI and like, which are up by any multiple between 3.5 times to 11 times since December 2008. Also, by paying all your EMI installments on time would help private banks stay out of trouble and we shall continue investing in banking sector with of course proper investment plans and goals. This is something retail investors lack and often end up burning their fingers. 2. Retail investors are more or less out of the mark...

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