The government is making plans to offload its stake from Oil India (OIL).

New Delhi: Yesterday, the government generally suggested about a rise in petrol and diesel costs, even though it has kept retail prices unaltered.

Petroleum Minister, Murli Deora told, “We are trying very hard to see that prices are not increased, (but) I cannot say if they will never be raised.”

Steel Authority of India Ltd (SAIL) has declared the result

Power Finance Corporation made 14.07% to Rs 199.85 after its quarterly net earnings soared 103.18%. The company announced its quarterly results during the market hours today, 16 July 2007.

Today, the intraday peak of the scrip was Rs 199.90, and an intrady low of Rs 177. It has has its 52-week low of Rs 101 on 3 April 2007.

After reporting an increase of 26.93% in net profit in Q1 June 2007,  Chennai Petroleum Corporation came up 4.32% to Rs 296.95 in afternoon trading. The company declared the quarterly results during the market hours.

At the same time, the BSE 30-share Sensex was up 190.68 points, or 1.27%, to 15,099.

New Delhi: State-run gas utility GAIL (India) and Apollo Tyres has signed up a contract for making power from steam.

According to the company release, GAIL will supply steam from its Vaghodia Compressor Station (near Vadodara) to Apollo Tyres that would produce power for it.