A steadying hand

The budget confirmed the fiscal deficit target of 3.9 per cent for the current financial year, and 3.5 per cent for 2016-17. The current account deficit (CAD) remained well-contained at 1.5 per cent of the GDP, and with oil prices at $30, few expect it to be under any imminent pressure. The GDP growth rate…

Somebody’s Wrong on Reliance

Shareholders in Reliance Industries haven’t had it this good for a long time. After years of under-performance, the Indian oil refiner’s stock has zoomed 21 percent since the end of September, versus a 6 percent drop in the benchmark Sensex. Chairman Mukesh Ambani’s net worth has swelled to $21.7 billion. And now, its latest quarterly earnings have shown that cheap…

CCI Clears Investment in Oil Blocks & Power Projects.

The government has cleared investments in another 25 oil blocks, which the defence ministry had opposed, approved 13 projects of power sector involving Rs 33,000 crore investments, but deferred a decision on coal price pooling. The Cabinet committee on investment (CCI) gave conditional clearance to 16 oil blocks while nine others were approved without any…