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Oil and Natural Gas Corporation
Buy ONGC, target Rs 1500: Karvy
Posted by :
sharmi131Tracked by: 1 Boarder
In how many days its going to touch 1500? What is the short term (5-10 days) target of ONGC?...
In reply to:
Buy ONGC, target Rs 1500: Karvy
Posted by :
Guest
ya good news... Please use this oppartunity 
Buy ONGC, target Rs 1500: Karvy
Posted by : GuestTracked by: 1 Boarder
ya good news... Please use this oppartunity...
In reply to:
Buy ONGC, target Rs 1500: Karvy
Posted by : MMB Messenger
Karvy Stock Broking has maintained its buy rating on Oil and Natural Gas Corporation with a target of Rs 1500. ONGC Videsh Limited (OVL), the wholly owned subsidiary of ONGC, has agreed to acquire London Stock Exchange listed Imperial Energy Corporation plc (IEC) for approximately £ 1.4 billion or USD 2.5 billion.
Buy ONGC, target Rs 1500: Karvy
Posted by : MMB MessengerTracked by: 1 Boarder
Karvy Stock Broking has maintained its buy rating on Oil and Natural Gas Corporation with a target of Rs 1500. ONGC Videsh Limited (OVL), the wholly owned subsidiary of ONGC, has agreed to acquire London Stock Exchange listed Imperial Energy Corporation plc (IEC) for approximately £ 1.4 billion or USD 2.5 billion....
Mera Bharat Mahan
Posted by :
yagneswarTracked by: 0 Boarder
This $1.25 per day to fix poverty line etc. The part where I live in India is short of Agrl labour involving manual work, which offers better pay (more than$1.25 per day I mean taking into consideration off season and the relative work they may get during that period).
In my opinion India has some unique family system where no of dependents is more and their contribution in saving labour cost for their family business work, which generates some income might not have been taken into a/c. Black money also schields the real picture. We have good buffer of foodgrain. Our inflation is also not alarming comparing our oil dependancy.
Every people has cellphone, Colour TV and spend some considerable money on other luxuries. No doubt we need some fine tuning.
Onething I wish to honestly admit osI dont understand much of economics. ...
In reply to:
Mera Bharat Mahan
Posted by : Bhatt
Printed from
The Times of India -Breaking news, views. reviews, cricket from across India
One-third of world's poor in India: Survey
27 Aug 2008, 0211 hrs IST,TNN
NEW DELHI: India is home to roughly one-third of all poor people in the world. It also has a higher proportion of its population living on less than $2 per day than even sub-Saharan Africa.
That is the sobering news coming out of the World Bank's latest estimates on global poverty. The fine print of the estimates also shows that the rate of decline of poverty in India was faster between 1981 and 1990 than between 1990 and 2005. This is likely to give fresh ammunition to those who maintain that economic reforms, which started in 1991, have failed to reduce poverty at a faster rate.
India, according to the new estimates, had 456 million people or about 42% of the population living below the new international poverty line of $1.25 per day. The number of Indian poor also constitute 33% of the global poor, which is pegged at 1.4 billion people.
India also had 828 million people, or 75.6% of the population living below $2 a day. Sub-Saharan Africa, considered the world's poorest region, is better — it has 72.2% of its population (551m) people below the $2 a day level.
The estimates are based on recently recalculated purchasing power parity (PPP) exchange rates, which makes comparisons across countries possible. The dollar exchange rates being referred to here, therefore, are not the ones used in normal exchange rates.
While the full report has not yet been released, a briefing note sent by the Bank had some of the data and showed that the poverty rate — those below $1.25 per day — for India had come down from 59.8% in 1981 to 51.3% by 1990 or 8.5 percentage points over nine years. Between 1990 and 2005, it declined to 41.6%, a drop of 9.7 percentage points over 15 years, clearly a much slower rate of decline.
An FAQ on the new estimates, also provided by the Bank, however states, "India has maintained even progress against poverty since the 1980s, with the poverty rate declining at a little under one percentage point per year."
The new international poverty line of $1.25 PPP per day has been arrived at as "the average poverty line found in the poorest 10-20 countries", according to the briefing note. In other words, more than four out of 10 Indians lives below what the world’s poorest countries consider the poverty line.
The new estimates are sobering not just for India but for the developing world as a whole, as they reveal higher levels of poverty than earlier estimated.
East Asia, in fact, is the region that has recorded the sharpest reductions in poverty from about 79% of the population in 1981 to 18% in 2005. In contrast, Eastern Europe and Central Asia has seen poverty rates go up from 1.6% to 5%. What is noticeable in this region is the decline in poverty till 1987, when it was down to just 1% of the population, and the sharp rise subsequently.
The Bank also makes the point that while raising people above the poverty line is a relatively achievable task — it believes poverty levels in 1990 can be halved by 2015 — it is proving very difficult to raise them above the $2 per day mark. The number of those in the developing world below this level has in fact gone up marginally from 2.5 billion to 2.6 billion since 1981.
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Mera Bharat Mahan
Posted by : BhattTracked by: 0 Boarder
Printed from
The Times of India -Breaking news, views. reviews, cricket from across India
One-third of world's poor in India: Survey
27 Aug 2008, 0211 hrs IST,TNN
NEW DELHI: India is home to roughly one-third of all poor people in the world. It also has a higher proportion of its population living on less than $2 per day than even sub-Saharan Africa.
That is the sobering news coming out of the World Bank's latest estimates on global poverty. The fine print of the estimates also shows that the rate of decline of poverty in India was faster between 1981 and 1990 than between 1990 and 2005. This is likely to give fresh ammunition to those who maintain that economic reforms, which started in 1991, have failed to reduce poverty at a faster rate.
India, according to the new estimates, had 456 million people or about 42% of the population living below the new international poverty line of $1.25 per day. The number of Indian poor also constitute 33% of the global poor, which is pegged at 1.4 billion people.
India also had 828 million people, or 75.6% of the population living below $2 a day. Sub-Saharan Africa, considered the world's poorest region, is better — it has 72.2% of its population (551m) people below the $2 a day level.
The estimates are based on recently recalculated purchasing power parity (PPP) exchange rates, which makes comparisons across countries possible. The dollar exchange rates being referred to here, therefore, are not the ones used in normal exchange rates.
While the full report has not yet been released, a briefing note sent by the Bank had some of the data and showed that the poverty rate — those below $1.25 per day — for India had come down from 59.8% in 1981 to 51.3% by 1990 or 8.5 percentage points over nine years. Between 1990 and 2005, it declined to 41.6%, a drop of 9.7 percentage points over 15 years, clearly a much slower rate of decline.
An FAQ on the new estimates, also provided by the Bank, however states, "India has maintained even progress against poverty since the 1980s, with the poverty rate declining at a little under one percentage point per year."
The new international poverty line of $1.25 PPP per day has been arrived at as "the average poverty line found in the poorest 10-20 countries", according to the briefing note. In other words, more than four out of 10 Indians lives below what the world’s poorest countries consider the poverty line.
The new estimates are sobering not just for India but for the developing world as a whole, as they reveal higher levels of poverty than earlier estimated.
East Asia, in fact, is the region that has recorded the sharpest reductions in poverty from about 79% of the population in 1981 to 18% in 2005. In contrast, Eastern Europe and Central Asia has seen poverty rates go up from 1.6% to 5%. What is noticeable in this region is the decline in poverty till 1987, when it was down to just 1% of the population, and the sharp rise subsequently.
The Bank also makes the point that while raising people above the poverty line is a relatively achievable task — it believes poverty levels in 1990 can be halved by 2015 — it is proving very difficult to raise them above the $2 per day mark. The number of those in the developing world below this level has in fact gone up marginally from 2.5 billion to 2.6 billion since 1981.
About Us | Advertise with Us | Careers @ TIL | Terms of Use | Privacy Policy | Feedback | Sitemap
Copyright © 2008 Bennett Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service
This site is best viewed with Internet Explorer 6.0 or higher; Firefox 2.0 or higher at a minimum screen resolution of 1024x768
...
NSE Announcements on ONGC
Posted by : MMB MessengerTracked by: 0 Boarder
Oil & Natural Gas Corpn Ltd has informed the Exchange that the Comptroller & Auditor General of India vide letter No. CA.V/COY/CENTRAL GOVT. ONGC(5)/51 dated 31-07-2008 has appointed M/s Arun K. Agarwal & Associates, New Delhi and M/s Kalyaniwalla & Mistry, Mumbai, as Statutory Auditors for the year 2008-09, in place of M/s K.K. Soni & Co., New Delhi and M/s S.C. Ajmera & Co., Udaipur. It is submitted that the change in the Statutory Auditors of the Company for the Financial Year 2008-09 has been noted by the Board in its Meeting held on August 25, 2008....
BSE Announcements on ONGC
Posted by : MMB MessengerTracked by: 0 Boarder
Oil & Natural Gas Corporation Ltd (ONGC) has informed BSE that the Comptroller & Auditor General of India vide letter dated July 31, 2008, has appointed M/s. Arun K Agarwal &
Associates, New Delhi and M/s. Kalyaniwalla & Mistry, Mumbai, as Statutory Auditors for
the year 2008-09, in place of M/s. K K Soni & Co., New Delhi and M/s. S C Ajmera & Co.,
Udaipur.
It is submitted that the change in the Statutory Auditors of the Company for the Financial Year 2008-09 has been noted by the Board at its 182nd Meeting held on August 25, 2008....
NSE Announcements on ONGC
Posted by : MMB MessengerTracked by: 0 Boarder
Oil & Natural Gas Corpn Ltd has informed the Exchange that the auditors have conducted the limited review of the Unaudited Financial Results for the quarter ended June 30, 2008. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
ONGC Videsh
Posted by : zoombusinessTracked by: 0 Boarder
ONGC Videsh
Acquired 11 exploration and production projects in six countries in 2007-08
Signed an agreement with Petroleous de Venezuela SA on April 8, 2008 for 40 per cent stake in San Cristobal oil field; to develop the field to increase production from 20,000 barrels a day to 40,000 barrels
Has participation in 38 projects in 18 countries – is operator in 18 projects and joint operator in two; 24 exploration, six development and seven producing
Share in production of oil and oil-equivalent gas increased to 8.80 million tonnes of oil equivalent
Consolidated gross revenues in 2007-08 of Rs 16,954 crore and consolidated net profit at Rs 2,397 crore in 2007-08
-T H
...
ONGC Videsh to acquire Imperial Energy for £1.4 b
Posted by : zoombusinessTracked by: 0 Boarder
ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, on Tuesday shed the tag of being a non-aggressive player in the international M&A scene, with the announcement that it has agreed to acquire LSE-listed Imperial Energy Corporation plc for approximately £1.4 billion (about Rs 11,400 crore).
The OVL offer now needs approval of the Russian Government and the individual shareholders of Imperial Energy. The firm is an independent upstream oil exploration and production entity with its main activities in CIS countries.
OVL said that it has reached an agreement with Imperial Energy “on the terms of recommended pre-conditional cash offers for the entire issued and to-be-issued ordinary share capital of Imperial Energy, and for Imperial Energy’s outstanding convertible bonds.”
“Under the terms of the share offer, Imperial Energy shareholders will be entitled to receive 1,250 pence in cash for each Imperial Energy share held,” OVL said.
Subsidiary incorporated
For the purpose, OVL has incorporated a wholly-owned subsidiary Jarpeno Ltd (Bidco) in Cyprus. The posting of the offer document to Imperial Energy shareholders is pre-conditional on certain regulatory clearances being obtained.
The deal attracted attention as OVL was facing competition from China Petroleum and Chemical Corp (Sinopec). The companies from the two Asian countries have faced each other before, with China mostly emerging a winner. However, earlier, the companies of the two countries have jointly acquired Omimex de Colombia Ltd from Texas-based Omimex Resources, Inc.
Speaking to Business Line, Mr R.S. Butola, Managing Director, OVL, said, “The acquisition represents an important addition to OVL’s operations. The final bid of 1,250 pence a share was made after completing the entire due diligence of the project.”
The initial offer made by OVL was for 1,290 pence for each share. As regards how the acquisition will be funded, Mr Butola said, “We have all necessary authorisation from the Government and ONGC. Besides, the company has also tied up its funds.”
Asked whether there will be an open offer, he explained it is a kind of open offer, after the Russian Government’s approval, the company would be making an offer to the individual shareholders. On whether a Russian energy company may get involved in the transaction, sources closely associated with the negotiations said the possibility can be looked at. Imperial Energy directors intend unanimously to recommend that Imperial Energy shareholders and bondholders accept the respective offers, OVL said. The Imperial Energy Directors consider the terms of the offer to be “fair and reasonable,” a statement issued by Imperial Energy said.
Imperial produced about 10,000 barrels of oil a day in December 2007 and is targeting to raise this to 80,000 barrels a day by the end of 2011. Independent assessment of the reserves by DeGolyer and McNaughton in December 2007 suggested in-place reserves of 920 million barrels of oil equivalent. However, on how the acquisition would translate in per-barrel realisation for OVL, sources said it was too early to comment.
-The Hindu
...
ONGC to Acquire Imperial energy
Posted by : gvTracked by: 0 Boarder
Hi,
Read this
"Tuesday August 26, 09:17 PM
ONGC to pay $2.6bln for Imperial Energy
By Tom Bergin
LONDON (Reuters) - India's biggest oil producer, ONGC, said it had agreed a 1.4 billion pounds ($2.6 billion) takeover of Russia-focused Imperial Energy on Tuesday in a bid to secure supplies for India's booming economy.
State-owned ONGC beat China's Sinopec to snatch the British-based oil explorer, though sources close to the deal said the Kremlin would likely expect ONGC to sell a stake on to a Russian state oil group such as Rosneft.
Imperial Energy Corp Plc said that ONGC's overseas arm, ONGC Videsh, would pay 1,250 pence in cash for each of its shares.
"This is a good price, given considera...
NSE Announcements on ONGC
Posted by : MMB MessengerTracked by: 0 Boarder
Oil & Natural Gas Corpn Ltd has informed the Exchange regarding ONGC Videsh Ltd as follows: " ONGC Videsh Ltd ("OVL"); the wholly-owned subsidiary of Oil and Natural Gas Corporation Ltd ("ONGC"), is pleased to announce that it and Imperial Energy Corporation plc, UK ("Imperial Energy") have reached agreement on the terms of recommended pre-conditional cash offers for the entire issued and to be issued ordinary share capital of Imperial Energy, and for Imperial Energys outstanding convertible bonds". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on ONGC
Posted by : MMB MessengerTracked by: 0 Boarder
Oil & Natural Gas Corporation Ltd (ONGC) has submitted to BSE a Press Release regarding ONGC Videsh Ltd....
ONGC strikes oil, gas
Posted by : zoombusinessTracked by: 0 Boarder
Oil and Natural Gas Corporation (ONGC) on Monday said it had made four oil and gas discoveries in the country. The finds were made in Warosan, Balasar and Halisa blocks in western onshore blocks and GS-15-OA in Krishna Godavari offshore, a company release said.
-T H
...
Tough job to Take Over Imperial Energy
Posted by :
9975797577Tracked by: 0 Boarder
It wont be that easy for ONGC to take Imperial Energy as majority of holding is with institutional holders and they will like to have a good profitable valuation presented to them before they dilute their stake. ...
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