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