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The overseas arm of India's Oil and Natural Gas Corp Ltd (ONGC) should not be merged with its parent company, ONGC's chairman said on Thursday, a week after the government proposed setting up an integrated oil company to better compete with global majors.
ONGC Videsh should be given more autonomy and merging companies horizontally will create a monopoly, ONGC Chairman Dinesh Sarraf said.
India's finance minister proposed setting up an integrated oil company in his budget speech last week, and said combining existing oil companies will give them capacity to bear higher risks and avail economies of scale.
New Delhi is struggling to raise local oil production and imports about 80 percent of its oil. Prime Minister Narendra Modi in 2015 set a goal of cutting that to 67 percent by 2020.
China - Chinese farmer Gao Ge was worried. The 27-year-old from Shandong province had chosen not to sell his freshly picked chilli pepper crop after prices soared by almost a third in just two weeks in November, hoping for even higher prices.
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Speculators were scooping up tonnes of the spicy fruit, betting on tight supplies as hot temperatures and heavy rain damaged the nation's crop, cutting it by 10 %.
Last year, the same investors played a similar game in garlic, sending prices to stratospheric levels. But now, prices have slipped as fears about low supplies have ebbed, Gao hasn't sold a single pepper, and the two-tonne crop sitting at his small farm is losing its colour - and its value.
In late January, Gao was scrambling to sell his harvest in Jinxiang, one of the country's main chilli trading hubs, to fund his family of five's week-long Lunar New Year holiday. "I'm a bit panicked," he said by phone just days before festivities started on Jan. 28.
अंतर्राष्ट्रीय बाजार में क्रूड में मुनाफावसूली कम हुई है जिसकी वजह से क्रूड के दाम में उछाल देखा गया। फिलहाल ब्रेंट क्रूड 55 डॉलर के ऊपर कारोबार कर रहा है। नायमैक्स पर डब्ल्यूटीआई क्रूड 52.5 डॉलर पर कारोबार कर रहा है।
वहीं, यूरोपीय चुनाव और अमेरिका में ट्रंप के नीतियों में बदलाव के चलते सोने में अच्छी खासी तेजी आई है। सोना 3 महीने के उच्चतम स्तर पर पहुंच कर कारोबार कर रहा है। फिलहाल कॉमैक्स पर सोना 0.25 फीसदी बढ़कर 1242 डॉलर पर कारोबार कर रहा है। कॉमैक्स पर चांदी 0.25 फीसदी से ज्यादा मजबूत होकर 17.8 डॉलर पर पहुंच गई है।
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चांदी एमसीएक्स (मार्च वायदा) : खरीदें - 42360, स्टॉपलॉस - 42150 और लक्ष्य - 42800.
नैचुरल गैस एमसीएक्स (फरवरी वायदा) : खरीदें - 212, स्टॉपलॉस - 210.5 और लक्ष्य - 215.
Copper galloped in the trades on Wednesday as strike threat in Escondida BHP Billiton mine kept speculators active. Production will stop at the world largest copper mine during a strike schedule to being on Thursday. The mine produced 6% of the world's copper in 2015. Indian Copper was trading at Rs 396.15 per kg, up 1.3%. The prices of Copper tested a high of Rs 399.2 per kg, and a low of Rs 391.90 per kg.
Copper trading range for the day is 387.8-396.2.Copper dropped as the dollar edged higher after a Federal Reserve official offered support for a March rate rise, while supply concerns underpinned prices.
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Crude Oil declined in the session ending 8 Feb 2017 and ended with correction to the tune of 2.15%. The prices of Crude Oil ended the session at INR 3502 per barrel, up INR 77. The benchmark expiry contract of Crude Oil tested a high of INR 3586 per barrel. A low of INR 3495 per barrel was registered during the day. Losses in Crude Oil can take prices towards Rs 3586 and 3495 per barrel. On the higher side Rs 3600 and 3620 per barrel are the noted resistances.
Copper ended the session on 7 Feb 2017 at INR 391 per kg. The prices
tested a high of INR 394.55 per kg and a low of INR 390.30 per kg.
Technical charts suggest that breach below INR 394.55 per kg will be
damaging for Copper. Indian Copper were not able to breach important
support levels of Rs 395 on Tuesday and therefore remained silent below
those levels. Further appreciation from here can take prices close to
INR 395 and 398 per kg. On the lower side Rs 390 and 388 per kg are
supports. The ideal strategy can be to buy Copper on declines. Sharp
gains is expected in Copper with opening near Rs 400 and 402 per kg.
To understand the impact of demonetization on farming sector, Indian Council of Agricultural Research (ICAR)-National Institute of Agricultural Economics and Policy Research (NIAP) conducted a short survey of farmers in few villages around Delhi under Mera Gaon Mera Gaurav (MGMG) initiative.
Survey findings could not establish any significant adverse effect of demonetization on input availability, market arrivals of produce and area sown in Rabi season. As per preliminary reports received from the States, the total area sown under Rabi crops as on 27th January, 2017 stands at 637.34 lakh hectares as compared to 600.02 lakh hectares this time in 2016 indicating no significant impact of demonetization on Rabi sowing.
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COMEX Gold pulled back from its three month highs as a gentle start to
European equities triggered some profit selling. The metal has been on a
roll this week after breaking above $1200 per ounce and soared sharply
amid lingering worries about the trade and immigration polices of US
President Donald Trump. Lax sentiments prevailed for US stocks on Monday
amid lack of major economic cues. The pullback on the day came on the
heels of the strong upward move that was seen last Friday.
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While Gold has gained impressively on this factor this week, a rather tepid show by Indian retail demand weighs on the broad sentiments. The metal is currently being offered around $1233 per ounce, almost unchanged on the day. MCX Gold futures are trading at Rs 29260 per 10 grams, up 0.23% on the day after testing highs above Rs 29330 levels.
Lead futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators remained on the sidelines in the industrial metal amid muted physical demand for lead, from battery-makers, in the domestic spot market.
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Further, a downward trend in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade.
At the MCX, lead futures for February 2017 contract is trading at Rs 156.55 per kg, down by 0.48 per cent, after opening at Rs 156.75, against a previous close of Rs 157.30. It touched the intra-day low of Rs 155.95.
भारतीय बास्केट के कच्चे तेल की अंतर्राष्ट्रीय कीमत शुक्रवार को 55.82 डॉलर प्रति बैरल दर्ज की गई। यह गुरुवार को दर्ज कीमत 55.49 डॉलर प्रति बैरल से अधिक है। पेट्रोलियम एवं प्राकृतिक गैस मंत्रालय के अधीनस्थ पेट्रोलियम नियोजन एवं विश्लेषण प्रकोष्ठ (पीपीएसी) ने सोमवार को यह जानकारी दी।
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रुपये के संदर्भ में भारतीय बास्केट के कच्चे तेल की कीमत शुक्रवार को बढ़कर 3,761.56 रुपये प्रति बैरल हो गई, जबकि गुरुवार को यह 3,742.44 रुपये प्रति बैरल था। रुपया शुक्रवार को मजबूत होकर 67.38 रुपये प्रति डॉलर के स्तर पर बंद हुआ, जबकि गुरुवार को यह 67.45 रुपये प्रति डॉलर था।
अमेरिका में बढ़ते क्रूड भंडार और मजबूत डॉलर की वजह से क्रूड के दाम में गिरावट आई है। फिलहाल ब्रेंट क्रूड 55 डॉलर के ऊपर ट्रेड कर रहा है। वहीं सोने में तेजी से सोना 11 हफ्ते की ऊंचाई पर पहुंच कर ट्रेड कर रहा है।
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कच्चा तेल एमसीएक्स: खरीदें - 3550, स्टॉपलॉस - 3480, लक्ष्य - 3680.
सोना एमसीएक्स: खरीदें - 29050, स्टॉपलॉस - 28900, लक्ष्य - 29300.













