New Delhi: The government is thinking over ways such as increasing petrol and diesel prices for coping with the surge in worldwide crude oil rates, which have resulted in oil companies losing Rs 170 crore a day.
According to the official sources that an increase of Rs 2 in petrol and a Re 1 in diesel prices is being mooted as Indian basket of crude oil passed over $69 a barrel mark.
Public sector oil companies are receding more than Rs 5.3 a litre on petrol and Rs 4.40 on diesel as Indian basket of crude oil has climbed 12 per cent since February 15, when petrol and diesel prices were down by Rs 2 and Re 1 a litre correspondingly.

In early trade, Steel Authority of India was trading nearly flat at Rs 133.10 after it signed up an memorandum of understanding (MoU) with Manganese Ore India to form a joint venture to manufacture ferro-manganese and silico-manganese.
During the day, the scrip touched a high of Rs 134 and a low of Rs 132.70. The scrip has had its 52-week high of Rs 149.95 on 28 May 2007 and a 52-week low of Rs 64.25 on 24 July 2006.

Lengthening its current rally on continued buying, Bharat Heavy E

The date for submission of views by the industry on a consultation paper for reviewing key license conditions and capping the number of access providers has been extended by the Telecom regulator Telecom Regulatory Authority of India. TRAI said that service providers could now submit their comments by July 6.
The consultation paper - 'Review of license terms and condition and capping number of access providers' – was floated by the regulator on June 12, with a view to start the second phase of telecom reforms.
The paper had sought comments on the issue of allowing operators to offer services under the same license using a combination of technology, limiting the number of companies in each area, mergers, acquisitions and roll out obligations.

IFCI topped the volume charts on BSE with 89.56 lakh shares.

After receiving cabinet’s clearance of a follow-on public offer, BEML is looking to file the red herring prospectus with SEBI this month. “The company was in the process of filing the red herring prospectus (RHP) with SEBI this month. “We intend to hit the market in the first half of June this year," said Natarajan, BEML chairman and managing director.
According to Natarajan, Rs 440-crore public issue would be made entirely through the book-building route. After the follow-on public offer, government holding in BEML would be 55% and the balance would be held by public and financial institutions.