Know more about the following acronyms:


IOC

Indian Oil Corporation Ltd. is India’s largest commercial enterprise, with a sales turnover of Rs. 2, 85,337 crore  the highest-ever for an Indian company  and a net profit of Rs. 2, 950 crore for the year 2008-09. IndianOil is also the highest ranked Indian company in the prestigious Fortune ‘Global 500’ listing, having moved up 11 places to the 105th position in 2009.

ONGC

Oil and Natural Gas Corporation Limited is an Indian public sector petroleum company. It is a Fortune Global 500 company ranked 152nd, and contributes 77% of India’s crude oil production and 81% of India’s natural gas production. It is the highest profit making corporation in India.
It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India. It produces about 30% of India’s crude oil requirement. It owns and operates more than 11,000 kilometres of pipelines in India.

SEZ

A Special Economic Zone (SEZ) is a geographical region that has economic laws that are more liberal than a country’s typical economic laws. The category ‘SEZ’ covers a broad range of more specific zone types, including Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Estates (IE), Free Ports, Urban Enterprise Zones and others. Usually the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a multinational corporation (MNC).

NREGA

The National Rural Employment Guarantee Act is an Indian job guarantee scheme, enacted by legislation on August 25, 2005. The scheme provides a legal guarantee for one hundred days of employment in every financial year to adult members of any rural household willing to do public work-related unskilled manual work at the statutory minimum wage of Rs.60 per day. The Central government outlay for scheme is Rs. 39,100 crores ($8 billion) in FY 2009-10.

ERP

Enterprise resource planning is an integrated computer-based system used to manage internal and external resources including tangible assets, financial resources, materials, and human resources. It is a software architecture whose purpose is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders.

NASDAQ

The NASDAQ Stock Market, known as NASDAQ, is an American stock exchange. “NASDAQ” originally stood for “National Association of Securities Dealers Automated Quotations,” but the exchange’s official stance is that the acronym is obsolete. It is the largest electronic screen-based equity securities trading market in the United States. With approximately 3,700 companies and corporations, it has more trading volume than any other stock exchange in the world.

NYSE

The New York Stock Exchange (NYSE) is a stock exchange located at 11 Wall Street in lower Manhattan, New York City, New York, USA. It is the world’s largest stock exchange by market capitalization of its listed companies at US$28.5 trillion as of May 2008.

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