MANGALORE
BSNL to monetize prime land parcels in Mangalore; eyes Rs 39 crores reserve price
Bharat Sanchar Nigam Limited (BSNL) has announced the monetization of its land parcels in Mangalore in an effort to bolster its financial standing. The two-acre land parcel adjacent to Kadri Park at Store Yard, near Kadri Hills on Park Road, is set for e-auction. The reserve price is set at Rs 39 Crores with an Earnest Money Deposit (EMD) of Rs 1.95 Crores.
India's May oil imports: Russia at record high, Saudi lowest in 10-month
India's oil imports from Russia hit a record high of 2.1 million bpd in May as discounts widened due to lower demand from China. Some European nations avoided Russian oil after the Ukraine invasion, making Russian oil cheaper than similar grades from the Middle East.
Major ports cargo traffic rises over 3% to 72.04 million trillion in May
Cargo traffic at major Indian ports rose by 3.75% in May to 72.04 MT, with notable growth at Visakhapatnam, Chennai, and Cochin ports, as per Indian Ports Association data.
ONGC's high investments to delay deleveraging: S&P
S&P Global Ratings stated that increased investments by Oil and Natural Gas Corp (ONGC) will slow its deleveraging over the next 12-24 months, affecting its 'bbb+' standalone credit profile. Despite a 2-3% drop in domestic production and lower realizations in FY2024, ONGC's EBITDA rose to Rs 1.1 lakh crore due to strong performance from subsidiaries MRPL and HPCL. S&P forecasts EBITDA to remain around Rs 1 lakh crore for FY2025 and FY2026, supported by increased production from the Krishna Godavari basin and international assets.
Major Indian ports bettered efficiency and earnings in 2023-24
According to the centre, average container turnaround time reached less than a day in 2023-24 which is better than USA (1.5 days), Australia (1.7 days), Singapore (1.0 days). The improvement is on the back of investments in cargo handling equipment on berths and better supply chain visibility due to digitalization, officials said.
Sell Mangalore Refinery And Petrochemicals, target price Rs 175: Motilal Oswal
Mangalore Refinery And Petrochemicals Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 40204.62 Crore) operating in Gas & Petroleum sector.
Rediscovering Mangalore's culinary heritage: The legacy of Balthu chutney
The story of Balthu Chutney, possibly first documented in the Mangalore Magazine, tells of Balthu, a young Christian cook near Mangalore who impressed Hyder Ali's son, Tipu, with his chutney-making skills in the late 18th century. This led to him being named the royal chutney manufacturer, a position he used to aid Mangalore Catholics during their captivity in Seringapatam. Mangalore's rich culinary heritage, influenced by diverse cultures and global trade, has been somewhat overshadowed in recent history. Despite this, its food, including specialties like dalitoy and kadubu, is widely available due to its diaspora.
5 PSU stocks give 5-15 times returns in Modi's 10-year rule; 17 turn multibaggers
ETMarkets analysis shows significant returns by PSU stocks during the last decade of the Modi government, with Bharat Electronics Limited (BEL) leading with remarkable growth.
Government allows UAE's Adnoc to export oil from Indian strategic storage
In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost".
First cargo of ONGC's crude oil from KG basin block reaches Mangalore refinery
The first cargo of ONGC's new crude oil from KG-DWN-98/2 was received at MRPL. The crude oil was brought by a ship named Swarna Sindhu flagged off by Prime Minister Narendra Modi. It will contribute to the Athmanirbhar Bharath mission. The oil is produced using FPSO in Andhra offshore.
IOC, GAIL, ONGC fined for third straight quarter for failure to appoint directors
State-owned oil and gas companies, including IndianOil, ONGC, and GAIL (India), have been fined for the third consecutive quarter for not meeting listing norm requirements regarding the number of directors on their board. The fines, totaling Rs 32.5 lakh, were imposed by stock exchanges for the quarter ended December 31, 2023.
What to do with SJVN, RVNL and 4 other stocks? Aamar Deo of Angel One decodes
Aamar Deo Singh of Angel One says investors need to be cautious with fresh investments due to unappealing risk-reward ratio in many stocks. Nifty and Bank Nifty are consolidating, while India VIX levels remain stable. With the results season over, all eyes are on the US FOMC meeting minutes, slated to be released later this week. Top gainers include MRPL, Natco Pharma, and Aegis Logistics.
Number of smallcaps with double-digit gains drop with some signs of profit booking
The number of smallcap stocks that rose in double digits came down for the second consecutive week. Fifty of them saw double-digit rallies, compared with 52 a week earlier and 60-plus in the preceding week.
Technical Breakout Stocks: How to trade Oil India, Mangalore Refinery and HPCL on Friday
The S&P BSE Sensex rose more than 200 points to reclaim 72K while the Nifty50 closed above the 21,900 level.
Sell Mangalore Refinery And Petrochemicals, target price Rs 135: Motilal Oswal
Mangalore Refinery And Petrochemicals Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 28313.23 Crore) operating in Gas & Petroleum sector.
Dolly Khanna trims stake in multibagger Chennai Petroleum, raises holdings in 2 smallcaps
In KCP Sugar, Dolly Khanna raised her stake to 1.35% in the December quarter from 1.26% in the September quarter. This smallcap scrip has been a market laggard with 14% returns, which remains below Nifty’s returns.
Passenger loses Rs 1 lakh and antique fountain pen from locked check-in baggage at Mumbai Airport
Binod Kumar Mandal, a director at Manipal Tech Group Companies, lost Rs 1 lakh and a cherished 77-year-old fountain pen during a flight from Mangalore to Mumbai. Mandal discovered the theft upon landing, with the bag's lock broken. Expressing concern over rising in-flight thefts, Mandal, who waited five hours to file a police complaint, suspected internal involvement. The stolen pen, a family heirloom from 1946, adds sentimental value to the loss. Airport police are investigating, registering a case under section 379 of the Indian Penal Code.
Indian Navy deploys warships in Arabian Sea following drone attack on cargo vessel
In response to recent attacks on commercial vessels in the Arabian Sea, the Indian Navy has deployed three warships to maintain a deterrent presence. The Navy is investigating a drone strike on the Mangalore-bound cargo vessel MV Chem Pluto. The vessel, carrying crude oil, was attacked about 217 nautical miles from Porbandar
India set to step up presence in Arabian Sea; inspects vessels
Officials said that Indian warships are already present in the area and are conducting searches on nearby vessels, while the stricken MV Chem Pluto is being escorted to Mumbai by a coast guard vessel. Indian naval surveillance aircraft have also been deployed to keep a lookout for suspicious vessels in the area.
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