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Sugar stocks jump as prices touch record high
Shree Renuka Sugars ended at Rs 229, up by Rs 7 or 3.3%, on the BSE. Over 4.07 lakh shares have changed hands at the counter. The stock hit a high of Rs 230 and a low of Rs 223 during the day.

Cipla in talks with Pfizer, others for alliance
Cipla today said it is talking to many global drug makers, including Pfizer Inc, for the development and supply of generic products.

News of the day

RCom Q1 net profit rises 8.3% to Rs 1,637 cr
Telecom major Reliance Communications (RCom) has posted a consolidated net profit of Rs 1,637 crore for first quarter ended June 30, 2009, an increase of 8.3 per cent, compared with a net profit of Rs 1,512 crore recorded during the same period of previous financial year.
Public Relations

Mangalore Refinery gets Cairn oil today

Cairn India’s crude oil will finally go for refining, with Mangalore Refinery and Petrochemicals Ltd (MRPL) receiving the first consignment tomorrow. The 2,08,000-barrel consignment of crude oil has been shipped from the Gujarat coast to Mangalore. - Haldia Petro expansion viable, says report - India"s crude oil production down 2.6% in August - ONGC to start gas production from Mumbai field - R-Infra asks RIL to withdraw marketing margins on gas - IOC losing Rs 79 cr per day on selling fuel below cost">IOC losing Rs 79 cr per day on selling fuel below cost - RIL losing $120 mn on less gas production than capacity MRPL, a subsidiary of Oil and Natural Gas Corporation, is one of the government nominees that will receive the crude oil which is being produced from Cairn’s Barmer block in Rajasthan. The field had gone into commercial production in August. Pending construction of a pipeline link, crude oil from the field is being transported through specially designed trucks to the Kandla port in Gujarat. Cairn owns a storage facility at Kandla from where crude was loaded on to Cougar, which carried the consignment on sea to Mangalore. Similar cargoes are expected to be transported to the refinery in the future. The crude oil is being sold at a discount of about 10-15 per cent to the six-monthly average of Brent crude oil. Rajasthan crude is heavy and waxy and requires to be transported in an insulated pipeline, being built by Larsen & Toubro. The Mangala field in the block which has gone into production is the biggest crude oil discovery after Bombay High in the 1970s. It is also the first onland discovery of such size in the past 22 years. The Barmer fields could boost the country’s oil output by about 20 per cent from the current 6,80,000 barrels a day, with the Rajasthan basin estimated to have 1 billion barrels of oil reserves. Initially, Mangala’s production will be raised up to about 30,000 barrels a day (bpd) from two wells and then gradually increased to 125,000 bpd.


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