Mugal Stock Tips Market Prophecy

The finance ministry is planning the stake sale at a time the OMCs are staring at a high under-recovery bill of Rs 1.40 lakh crore for the fiscal. Moily concedes that despite the monthly diesel price hike of 45-55p a litre since January, diesel under recoveries remain high at almost Rs 11/l. Moily's reaction to a question on whether a one-time diesel price hike is still on the cards: "We have not done it. We have not withdrawn that power of the OMCs, they continue to do it, they are empowered to do it - Rs 0.45-0.50, that is the ceiling." 
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