Business

The devil lies in the detail. The Securities and Exchange Board of India (Sebi) on Tuesday issued a clarification to itsearlier order that was issued on Friday. The 14 private insurance companies which had been prohibited from raising new money or additional subscription on unit linked insurance plan (Ulips), have now been allowed to do so, for the time being. But insurance companies may not sigh in relief yet, for the last but one line in the order goes thus: "However, with respect…

The markets consolidated in the 5300-5400 range last week. The baseline strength gained in spite of front-liners showing consolidation. The pressure at 5400 was anticipated and the market took a breather. The carry had turned flat on Monday and Tuesday after being positive by around 10 basis points, indicating the cautious stance of traders. Open interest (OI) trends in Nifty remained more or less flat with OI rising in initial part and declining later due to unwinding. Sectorally, power and…

HPCL is a mega Public Sector Undertaking (PSU) with Navratna status. It has two refineries producing a wide variety of petroleum products- fuels, lubricants and specialty products; one in Mumbai (West Coast) having a capacity of 6.5 MMTPA and the other in Visakhapatnam? (East Coast) with a capacity of 7.5 MMTPA. HPCL holds an equity stake of 16.95% in Mangalore Refinery and Petrochemicals Limited, a state-of-the-art refinery at Mangalore with a capacity of 9 MMTPA. HPCL in collaboration with M⁄s…

The Planning Commission has rejected the proposal to increase allocation under the Local Area Development (LAD) fund scheme for Ministers of Parliament (MP) from Rs 2 crore to Rs 5 crore, citing fiscal constraints for the government, especially for its flagship schemes.The government is currently running 15 flagship schemes to improve economic conditions of the poor. The rejection is seen as the Plan panel’s distrust in the MPs’ ability to undertake developmental work.In June 2…

LG Electronics India, in an effort to deliver a healthier bottomline, is looking to prop up its margins. Call it a change-over from the Red Ocean to Blue Ocean strategy.While, so far, the company had trained its guns on mass-market products under the Red Ocean strategy (where a company fights tooth and nail with competition) to become largely a volumes player and garner market share, the thrust will now be on high-end products with an eye on a certain class of niche consumers.The …