INDIAN BENCHMARK are likely to edge higher in today's deals tracking firm Asian cues with focus on F&O expiry on Thursday. Oil and Natural Gas Corporation has approved partner Cairn India’s move to raise the cost of developing the Bhagyam field in Rajasthan block by 30 % to US$608 mn.
FURTHER, Reliance Industries has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10 per cent over and above the new rate of $8.3 coming into effect from next month. Bharat Petroleum Corporation Limited is planning to develop its Assam-based Numaligarh Refinery as an export hub for petroleum products to neighbouring Bangladesh and Nepal.
Trend in FII flows: The FIIs were net buyers of Rs.14cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 8cr, as per the provisional figures released by the NSE.