NEW DELHI India's state-run oil marketing companies have been authorized to raise diesel prices in small increments "over a period of time", Oil Secretary G. C. Chaturvedi said on Thursday, but did not give a time-frame or quantity for such price increases.
Earlier, the government permitted state-run oil marketing companies to set diesel prices, in a surprise move that could help the government reduce its budget-busting subsidy bill.
(Reporting by Nidhi Verma; Writing by Rajesh Kumar Singh; Editing by Frank Jack Daniel)
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With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column