Companies & Sectors
LPG price hiked by Rs3.46 per cylinder for paying commission to dealers

The price of LPG cylinder was hiked after the government raised commission paid to dealers by over 9% to Rs40.71 per 14.2-kg cylinder

The price of domestic cooking gas (LPG) was on Tuesday hiked by Rs3.46 per cylinder after the union government raised the commission paid to dealers by over 9% to Rs40.71.

 

An official from the Oil Ministry said, “The commission paid to dealers has been increased by Rs3.46 per 14.2-kg cylinder to Rs40.71. Consequently, the retail selling price of domestic LPG too has been increased in the same proportion”.

 

The increase in commission — which as per practice is passed on to consumers — has been effected from today.

 

LPG in Delhi costs Rs410.50 per 14.2-kg cylinder and after the increase will cost Rs413.96.

 

The last revision in cooking gas prices happened in October last year when because of an increase in dealers’ commission the rates were raised from Rs 399 per cylinder to Rs 410.50.

 

Also, the dealers’ commission on 5-kg LPG cylinders has been increased by Rs1.73 to Rs 20.36 per bottle. At present a 5-kg LPG cylinder costs Rs353 in Delhi.

 

The official said an annual revision in dealers’ commission is being proposed keeping in view the increase in expenses such as salary and wages.

 

He, however, said no revision in the additional distributor commission of 75 paisa paid on sale of non- subsidised sale of 14.2-kg cylinder was required for the time being. The 75 paisa is over and above the commission of Rs40.71.

 

Non-subsidised LPG is sold at market price of Rs1,017.50 per cylinder in Delhi.

 

The LPG dealers’ commission was last revised on 7 October 2012, when it was raised to Rs37.25 from Rs25.83 per 14.2-kg cylinder. The same for the 5-kg cylinder was hiked to Rs18.63 from Rs13.30 per bottle.

 

The commission has more than doubled in the past six years with almost yearly increases. The commission was raised from Rs16.71 per 14.2-kg LPG cylinder to Rs19.05 on 1 March 2007; to Rs20.54 on 4 June 2008; to Rs21.94 on 30 June 30 2009, and to Rs25.83 per bottle on 1 July 2011.

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Sensex hits an all time high: Losers and gainers

On Monday the BSE Sensex has made an all-time high of 21,483. Prior to this, on 10th January 2008, it made a high of 21,206. Who were the winners and losers over these years?

On Monday, the BSE 30-share Sensex made an all time high at 21,483, surpassing the prior high it made on 1 November 2013 (21,294), driven by just four stocks: Indian Tobacco Company (ITC), Tata Consultancy Services (TCS), Infosys and HDFC Bank. These stocks have collectively contributed to a majority of the rise in benchmark index in the five years since its previous high (21,206) in January 2008.
 

But this is not the same Sensex that the 30-share benchmark was in 2008. Several companies have switched in and out of the BSE benchmark over the past five years, and the bulk of the movement was caused by a few companies. In fact, even heavyweights like Reliance Industries-RIL (-42.65%), ICICI Bank (-13.84%), State Bank of India- RIL (-23.32%), ONGC (-7.53%), Larsen & Toubro- L&T (-21.87%) are actually are down since January 2008.
 

In last five years, a total eight companies have been omitted from Sensex and replaced by new companies.
 

The companies that were omitted from Sensex in the last five years were:
 

Cos eliminated from  Sensex

10-Jan-08

9-Dec-13

%  change

ACC

983.00

1145

16.48%

Satyam Computer Services

113.45

-

-

Ranbaxy Laboratories

415.75

445.05

7.05%

Grasim Industries

3524.00

2780.25

-21.11%

Reliance Communications

750.00

143.70

-80.84%

Reliance Infrastructure

2631.70

452

-82.82%

Jaiprakash Associates

320.00

57.85

-81.92%

DLF

1208.40

160.90

-86.68%

Elimination of these big losers substantially added to the Sensex performance.
 

Meanwhile, the companies that replaced these losers turned out to be excellent
performers. Companies that were added to Sensex in the last five years:
 

New additions in Sensex

10-Jan-08

9-Dec-13

%  change

Sun Pharmaceutical

111.30

594.50

434.14%

Bajaj Auto

472.50

1985.50

320.21%

Dr. Reddy's Laboratories

704.00

2462

249.72%

Hero MotoCorp

694.00

2145

209.08%

Cipla

211.50

394.90

86.71%

G A I L (India)

349.33

353.35

1.15%

Coal India

344.75

297.95

-13.58%

Jindal Steel & Power

543.30

289.90

-46.64%

 

On 10 January 2008, the BSE Sensex hit its all-time high of 21,206 at that time. However, within just eight trading sessions, Sensex crashed to 15,332 (22 January 2008). On 21st and 22 January 2008, alone, it crashed 3,587 points. On 22nd January, the trading was suspended for an hour on BSE within minutes of opening.
 

  (Source: www.bseindia.com)
 

Thanks to a confluence of factors, such as quantitative easing (QE) and positive sentiment over the years, the BSE Sensex slowly recovered and breached a new all-time high of 21,483 on Monday.
 

Companies like ITC (173.59%), Infosys (97.43%), HDFC Bank (99.95%) and TCS (302.75%) have contributed to the rise. Share prices of Infosys and HDFC Bank have doubled during this five year period. However, IT companies have not grown much. Apart from these companies, Hindustan Unilever (141.85%), Tata Motors (150.53%), and Sun Pharmaceutical Industries (434.14%) have also contributed to the benchmark upswing.
 

The stocks which have done poorly in last five years are Bharat Heavy Electricals (-64.46%), Tata Steel (-52.50%), Jindal Steel & Power (-46.64%), Tata Power Co. (41.04%) and Bharti Airtel (-30.35%).
 

22 companies in Sensex since 2008

10-Jan-08

9-Dec-13

% Change

Bharat Heavy Electricals

498.88

177.30

-64.46%

Bharti Airtel

492.40

342.95

-30.35%

H D F C Bank

357.49

714.80

99.95%

HDFC

642.98

841.25

30.84%

Hindalco Industries

193.34

123.85

-35.94%

Hindustan Unilever

235.00

568.35

141.85%

I C I C I Bank

1399.90

1206.20

-13.84%

I T C

116.05

317.50

173.59%

Infosys

1714.00

3384

97.43 %

Larsen & Toubro Ltd (split)

1474.40

1152

-21.87%

Mahindra & Mahindra

414.00

976.45

135.86%

Maruti Suzuki India

941.40

1745

85.36%

N T P C

283.55

154.10

-45.65%

Oil & Natural Gas Corpn

332.00

307

-7.53%

Reliance Industries

1548.45

888

-42.65%

Sesa Sterlite

104.31

192.10

84.16%

State Bank Of India

2505.00

1920.90

-23.32%

Tata Consultancy Services

504.03

2030

302.75%

Tata Motors

160.46

402

150.53%

Tata Power Co

156.80

92.45

-41.04%

Tata Steel

909.00

431.75

-52.50%

Wipro

300.54

499.65

66.25%

 

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Supreme Court says red beacons only for high statutory offices

The Supreme Court also said that state governments cannot enlarge the list of VIPs eligible for red beacon

The Supreme Court on Tuesday held that red beacon be allowed to be used only by persons holding constitutional posts and high dignitaries to prevent its misuse by local politicians flaunting it as a status symbol.

 

A Bench headed by Justice GS Singhvi asked the union government to issue a fresh list of people eligible for using red beacon on their vehicles and asked the government to amend the rule within three months.

 

The Bench also said the state governments cannot enlarge the list of VIPs eligible for red beacon. The court passed the order on a public interest litigation (PIL) filed by Uttar Pradesh resident Abhay Singh on the misuse of red beacon.

 

Earlier, the Bench had said that misuse of red beacon and siren, granted by government to VIPs, was a menace to society and it must be stopped.

 

It had said the red light has become a status symbol and that police personnel, who are put on duty for giving security cover to VIPs, should be deployed for better purposes like making the roads safe for women.

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COMMENTS

Simple Indian

3 years ago

This is a welcome decision by the SC. Like X,Y, Z security, red-beacons on cars has become a status symbol for many politicians. There are even ex-Ministers or ex-MPs who continue to use red beacon on their cars which is against current rules.
The red beacon on cars is a relic of the British Raj, and was meant to represent authority and exclusive privileges while travelling. With the AAP giving voice to common citizens, am sure the govt will deem it fit to prune the list of VIPs eligible for the privilege of red beacons. Hopefully, it won't bring an ordinance to negate this SC ruling too.

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