Anda di halaman 1dari 2

PSU

Shares of PSU OMCs were mostly lower after cutting non-subsidised cooking gas prices. BPCL (down 2.23%) and HPCL (down 0.88%) declined. Indian Oil Corporation rose 0.22%. Effective Saturday, 1 February 2014, a 14.2 kg gas cylinder will cost Rs 1,134 per cylinder, down by Rs 107 per cylinder from earlier Rs 1,241 per cylinder in Delhi. There is no change in the price of subsidised cooking gas, which costs Rs 414 per cylinder in Delhi. The government had on 30 January 2014 raised the cap on supply of subsidised cooking gas cylinders from nine to 12 per household in a year. PSU OMCs simultaneously hiked diesel prices by 50 paise per litre. The hike is excluding local sales tax, or VAT. The actual increase will be higher and will vary from city to city. In January 2013, the government allowed PSU OMCs to raise diesel prices in small measures at regular intervals while completely deregulating diesel prices sold to institutional or bulk buyers. The government has already freed pricing of petrol. Indraprastha Gas (IGL) jumped 7.74%. Oil Minister M Veerappa Moily today, 3 February 2014, said that the CNG prices will be cut by 30 per cent and PNG prices by 20 per cent in Delhi with effect from today, 3 February 2014. Also, the government will increase the availability of gas for domestic users. GAIL (India) will uniformly supply domestic gas to the distributors. The newly-formed AAP government in Delhi had moved the Supreme Court challenging the Central government's cut in allocation of domestic natural gas to Delhi following an order by the Gujarat High Court. The Allocation of domestic gas to GAIL (India) for supplying entities for CNG (transport) and PNG (domestic) segment has also been ordered to be increased with immediate effect. Moily said that Indraprashta Gas and other city gas distribution firms will now get cheaper domestic gas. "IGL and city gas entities will get entire requirement of gas from domestic fields as against previous 80 per cent," announced Moily. Meanwhile, the government has told Supreme Court that it will give CNG at uniform prices to all states having distribution network. Gujarat State Petronet spurted 4.33%. Petronet LNG climbed 4.19%. Tata Power Company fell 1.62%. The company after market hours on Friday, 31 January 2014 said it has decided to exit from PT Arutmin Indonesia (Arutmin) to get additional cash flow and to reduce its consolidated debt amid facing under-

recovery challenges in its Mundra ultra mega power plant (UMPP) operations and cash flow concerns. Considering the present coal price scenario, Arutmin, which is a mine spread over a number of pits in South Kalimantan, Indonesia, had started posing production and cost viability challenges in its operations, Tata Power said in a statement.