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RIL: Not the best of times
Lower than expected refining margins have dragged down the company"s profits. generic levitra

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RIL's Jamnagar refineries to buy Cairn crude
Cairn India, which started pumping crude oil from its Mangala field in Barmer (Rajasthan) this August, has entered into an agreement with Reliance Industries Ltd (RIL) for supplying it to the latter’s Jamnagar refineries. Cairn is likely to supply seven consignments of 200,000 barrels each to RIL during the current financial year, said an informed source. The first consignment will reach Jamnagar by end-November. The company had sold its first cargo of 208,000 barrels to Mangalore Refinery and Petrochemicals last month and it will deliver two more cargoes this month.

News of the day

FM's pre-Budget meeting with states on January 13
Finance Minister Pranab Mukherjee will hold a pre-Budget discussion with state governments on January 13. Recommendations of the 13th Finance Commission on devolution of funds, the Goods and Services Tax (GST) regime, continuation of stimulus packages and allocation for the Centre’s flagship schemes such as National Rural Health Mission and Sarva Shiksha Abhiyan are expected to dominate the deliberations. A government official told Business Standard today that the states will make a strong pitch to continue the fiscal stimulus package.
International Business

JSW Steel gains 6% on fund raising plan

The stock slipped from the day"s high and finally ended up 6.5% at Rs 550. The counter witnessed heavy trade volumes of 2.67 million shares. _______________________________________________________ India Glycols turns around; posts Rs 7 cr profit Rahul and Udhav spar on Mumbai migrant issue NTPC fixes FPO base price at Rs 201 a share The stock opened at Rs 519 and slipped to a low of Rs 510. It soon gained strength and soared to a high of Rs 596, up 17% from the day"s low. The stock is currently trading up 14% at Rs 589. The counter has clocked heavy trading volumes of 1.86 million shares. The company has informed the BSE that it plans to raise $1 billion (Rs 4,767 crore) to part finance the company"s capex and for other general corporate purposes including reducing the leverage. They will raise the additional long term resources through issuance of qualified institutional placement, foreign currency convertible bonds, GDRs, ADRs, warrants or equity shares.


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