1. Petrol, diesel may be rationed. BPCL, which has the largest market share in Mumbai has adopted a Limited Supply system to the petrol pumps in the city. Mumbai consumes around 32,000 kilo-liters of petrol per month. International crude oil prices now stand at US$130 a barrel. The government has been refusing to raise the fuel prices. Indian Oil Corporation is seeking multilateral loans by mortgaging its assets to fight the rising crude cost.
2. Market Regulator, SEBI proposes a new payment process for public issues for the benefit of retail investor who need not block their money unless they are allotted shares.
3. According to a survey report, Indian consumers have increased (by 50%) their shopping frequency in modern trade retail stores.
4. Nuclear Power Corporation of India Limited (NPCIL) and L&T are likely to form a joint venture company to manufacture forging materials. Yet to finalize the details.
5. British Trade and Investment minister said that seventy Indian companies set up in Britain last year has created 5,000 more jobs. Trade between India and Britain grew by 9.1% last year.
6. The stock markets at Mumbai ended flat, with global worries over rising oil prices. The BSE sensex ended at 17,243, a mere rise of 13 points. In bullion market, gold price shot up to Rs.12,800/10gm and silver closed at Rs.24,710/kg. The Indian rupee fell to a fresh 13-months low of Rs.42.83 a dollar.
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