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ONGC has recovered the first tranche of monthly payments, this month of $19 million from Venezuela's state oil firm Petroleos de Venezuela. This payment to ONGC was towards recovering pending dividends, according to a senior official. ONGC will be receiving these instalment payments every month, linked to the market price of oil. The company has hit a new 52 week high today on the news.

US President Donald Trump has reportedly drafted an executive order taking aim at the H1B visa program, which Indian tech companies have used for decades to staff low-cost projects for US companies. If Trump sticks to his campaign promise overhauling the H1B program, Infosys, Wipro, TCS and others will have to radically shift hiring and staffing policies for US projects. This will also impact how American companies hire international tech workers. 

Stock in spotlight: Dilip Buildcon is in the news today due to a project awarded to it in Andhra Pradesh being recalled. However, the company's completion rate has been impressive, prompting recent BUY recommendations from analysts.  

Photo of the day: College students spin cotton on a wheel in Ahmedabad, in a tribute to Mahatma Gandhi. Amit Dave/Reuters

Before Trump's inauguration, many analysts suggested that his campaign promises were hyperbole - that his promises of building a wall, taxing imports and banning Muslims from entering the US were campaign talk, and not likely to be actual policy.

One week into the Trump administration however, has proved that Trump was serious, immediately passing orders towards building a wall on the Mexican border, and signing an executive order banning all refugees, and banning immigration from seven countries including Iran, Iraq, and Syria. Protests have mounted outside US airports as international travellers were detained at airports and some sent back. The Trump administration is now reportedly considering adding Pakistan to the list. 

Reliance Defence and Engineering has signed a Rs. 916 crore contract with the Ministry of Defence for 14 fast patrol vessels, for the Indian Coast Guard. This is the first time a private sector shipyard has won a design and build contract for such vehicles from the Indian Armed Forces. 

Stock in spotlight: Geojit Financial Services Limited, which has declared a 19% increase in revenues and a 83% increase in net profits YoY for its Q3.

Photo of the day: People take photographs of the Beating the Retreat ceremony in New Delhi. Cathal Mcnaughton/Reuters