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Aug 11, 2023
BPCL returns to black after marketing margin boost

State-owned Bharat Petroleum Corporation Ltd (BPCL) reported returning to profitability in the September quarter after a boost in marketing margin improved earnings. Consolidated net profit in July-September was at Rs 8,243.55 crore compared to a loss of Rs 338.49 crore in the same period a year back, the company said in a statement. The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high last year.

Pre-tax earnings from the downstream oil refining and marketing business came at Rs 11,283.29 crore in the second quarter of the current fiscal as compared to a loss of Rs 123.17 crore in the same period last year. Last year, state-owned fuel retailers BPCL, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) froze prices despite a spike in global oil prices following Russia’s invasion of Ukraine.

Revenues fell to Rs 1.16 lakh crore in July-September from Rs 1.28 lakh crore last year on lower oil prices. BPCL said it earned USD 15.42 on turning every barrel of crude oil into fuel in April-September 2023 as compared to a gross refining margin of USD 22.30 in the corresponding period last year. Standalone EBITDA for Q2 FY 23-24 stood at Rs 13,679.21 crore compared to Rs 1,991.41 crore in Q2 FY 22-23.

In the current quarter, the refinery throughput was 9.35 million tonnes versus 8.82 million tonnes in Q2 of FY 22-23. Market sales were 12.19 million tonnes in Q2 FY 23-24 versus 11.44 million tonnes in Q2 of FY 22-23. Sales have grown by 6.56 per cent.

“We have achieved our highest ever average ethanol blending percentage of 11.98 per cent during H1 FY 23-24,” BPCL said. The company added 300 new fuel stations in H1 FY 23-24, taking network strength to 21,331. The company-owned-company-operated outlets network increased to 338 with 11 additions. Also, 44 CNG stations were commissioned in H1 FY 23-24, taking the total CNG stations to 1,640, the statement said. BPCL’s refineries at Mumbai, Kochi and Bina have a combined capacity of around 35.3 million tonnes per annum. Its marketing infrastructure includes a network of installations, depots, energy stations, aviation service stations and LPG distributors.

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Aug 10, 2023
Domestic ESG-focused firms performed better than global peers in price volatility, equity returns: RBI study

Large listed domestic companies with an active ESG (environmental, social and governance) framework have performed better than their broad market counterparts even during extreme market events like the pandemic shocks, says an RBI study.

The RBI study of 18 economies with such frameworks, indicate that investors reward pro-climate and pro-socially oriented companies.

Also Read: Banks’ net interest income soars by a record 25.5 pc in Q3: Analysis

The ESG study based on the Morgan Stanley Capital International (MSCI’s) ESG indices is published in the February bulletin of the Reserve Bank.

The study noted that the ESG leaders’ indices have outperformed the broad indices for most of the countries in the sample, and the outcomes are based on these numbers from 2010 when the ESG concept began to gather momentum.

The findings suggested that the companies which have managed and disclosed their ESG related risks better are associated with higher stock prices compared to a larger set of listed companies which do not have such disclosures.

India ranks ahead of all the countries except China and Taiwan in terms of the relative returns in ESG leaders’ index but tops the chart in terms of least price volatility during market upheavals’, the study said, adding while the average volatility was 86 per cent during the pandemic shocks, India’s was only 74 per cent.

The relative growth in India’s ESG index is also among the top countries during this period within the set of 18 countries in the sample, the study noted.

Also Read: RBI says 7% GDP growth achievable next fiscal

During the sample period, there is no clear association between the average annual returns and the average risks in the ESG leaders’ price indices among the set of countries. The risks in ESG indices, however, are broadly in line with the risks in the broad indices across countries.

In general, the risk in both broad indices and ESG indices are higher in emerging markets compared to advanced markets and an analysis of the monthly ESG returns suggests that India’s ESG companies have given higher returns.

An analysis of the volatility clustering of broad and ESG indices indicated that volatility, in general, is lower in the advanced economies, than emerging markets. But overall India ESG index saw the second least volatility at 78 per cent while Hong Kong had the lowest at 74 per cent.

In Brazil it was 95 per cent, China (85), Indonesia (95) South Korea (79), Malaysia (85), Russia (87), South Africa (87), Taiwan (84) Thailand (81) Australia (86), Britain (89), Canada (82), Hong Kong (74), Japan (91), Sweden (91), Switzerland (95), and the US at 91 percent.The market events cover periods between September 2010 and August 2021.

The study estimated the cumulative returns in ESG price indices with respect to the returns in broad indices and found that the compounded annual return by India’s ESG leaders is more than 4 percentage points higher than what is predicted by the market model. The list is topped by China, Hong Kong and England.

This suggested that in the aftermath of the initial pandemic shock, the ESG leaders have significantly outperformed the rest of the market in several economies, and India is among the top performing countries on the basis of this criterion.

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Aug 8, 2023
Bharti Airtel, Shree Cement, Adani Wilmar, Infosys, Adani Power, Hero MotoCorp, Vodafone Idea stocks in focus

Indian share market is likely to open in green, hinted SGX Nifty on Wednesday. On the Singapore Exchange, Nifty futures were trading higher at 17797 level. In the previous session, BSE Sensex fell 221 pts to 60,286, while NSE Nifty 50 fell 43 pts to 17,722. “Markets have been facing pressure on every uptick however buying in select index majors is capping the damage so far. Participants are closely eyeing the outcome of the RBI meet for cues however indications are pointing toward prevailing choppiness to continue until Nifty decisively breaks the range of 17,550-17,900 levels. We thus recommend restricting trades and maintaining positions on both sides,” said Ajit Mishra, VP – Technical Research, Religare Broking.

Stocks in focus on 8 February, Wednesday

Bharti Airtel: The telecom operator reported its fiscal third quarter net profit of Rs 1,588 crore, missing analyst expectations. However, the profit almost doubled on-year, at 91% growth. It reported revenue for the quarter ending December of Rs 35,804 crore, jumping 20% on-year. The company also reported an India mobile average revenue per user (ARPU) of Rs 193. The telecommunications giant’s consolidated EBITDA was Rs 18,600 crore, higher by 24.8% on-year and up 5% from the previous quarter. The company also reported Capex for the quarter at Rs 9,314 crore.

Adani Green Energy: The company reported its fiscal third-quarter consolidated net profit jumped 110% on-year to Rs 103 crore, on a total income jump of 53.5% on-year to Rs 2,258 crore. Total expenses rose 44% to Rs 2067 crore in the quarter from Rs 1,430 in the same period previous year. The company’s revenue from power supply increased by 39% on-year to Rs 3,695 crore. Run-rate EBITDA stood at Rs 7,380 crore with net debt to run-rate EBITDA of 5.6x as of Dec 2022. The growth in revenues, EBITDA and Cash Profit is primarily driven by greenfield commissioning of 1,915 MW.

Vodafone Idea: The telecom operator has approved an allotment of over 1,613.31 crore equity shares at an issue price of Rs 10 per equity share, amounting to Rs 16,133.18 crore to the Government of India. Post allotment of shares, the government’s shareholding in the company stands at 33.44%. Last week, the government asked Vodafone to convert the net present value of the interest amount related to deferment of spectrum auction instalments and AGR dues into equity shares.

Adani Ports: The Adani group company on Tuesday reported net profit at Rs 1,315 crore, down 16% on-year as opposed to the expectation of a 25% growth for the quarter ended 31 December 2022. The company’s net revenue for the quarter also failed to meet street estimates. Revenue for the Dec quarter came in at Rs 4,786 crore, up 17.5% on-year from Rs 4,071 crore reported in the same quarter a year ago.

PC Jeweller: Consortium of four banks – IDBI Bank, Indian Bank, Bank of India and Karur Vysya Bank – has issued their loan recall notices to the company. The legal proceedings between State Bank of lndia (lead bank) and the company are continuing, and the next date of hearing will be 28 February 2023. The company’s showrooms (barring three – Preet Vihar, Pitampura and Kingsway Camp – in Delhi) are operational.

Infosys: The IT services major has announced collaboration with GE Digital to accelerate grid transformation for the utilities sector. Both will follow a joint go-to-market approach to deliver value added solutions for grid related products and services, for their new and existing clients.

Aurobindo Pharma: Company’s step-down subsidiary Aurolife Pharma has received approval from US Food and Drug Administration to manufacture and market the Diclofenac sodium topical solution. Diclofenac sodium topical solution is used in the treatment of osteoarthritis of the knees. The product is expected to be launched in Q1FY24, and has an estimated market size of around $487 million for 12 months ending December 2022, according to IQVIA.

Q3 Results today: Shree Cement, Adani Power, Adani Wilmar, Cummins India, Escorts Kubota, Dreamfolks Services, Endurance Technologies, Equitas Small Finance Bank, GATI, Gujarat Pipavav Port, Graphite India, HG Infra Engineering, Honeywell Automation India, IRCON International, ITD Cementation India, Minda Corporation, Samvardhana Motherson International, Narayana Hrudayalaya, Oberoi Realty, Piramal Enterprises, Speciality Restaurants, Symphony, Tracxn Technologies, Trent, and Windlas Biotech will be in focus ahead of their quarterly earnings on 8 February.

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Aug 8, 2023
Jahazpur Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Jahazpur RJ Assembly Election 2023 Details: The election for Jahazpur Assembly Constituency in Rajasthan will be held on November 25 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Jahazpur Constituency Assembly Election 2023 that you should know.

Jahazpur Constituency Rajasthan Assembly Election 2023: Voting Date

November 25 is the date of voting for the Jahazpur Assembly Constituency Election 2023 as announced by the Election Commission of India.

Jahazpur Constituency Rajasthan Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Jahazpur Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Jahazpur Constituency Assembly Election 2023 is Important

Jahazpur is a state Assembly/Vidhan Sabha constituency in the state of Rajasthan and is part of the Jahazpur Lok Sabha/Parliamentary constituency. Jahazpur falls in the Jahazpur district of Rajasthan and is categorised as an urban seat.

Jahazpur Constituency RJ Election Result: What happened in 2018

Gopi Chand Meena of the Bharatiya Janata Party was the winning candidate from the Jahazpur constituency in the RJ Assembly elections 2018, securing 94970 votes while 81717 votes were polled in favour of Dheeraj Gurjar of the Indian National Congress. The margin of victory was 13253 votes.

2018 Jahazpur Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesGopi Chand MeenaBharatiya Janata Party94970

Candidate List Party Name Votes Gained (Vote %) Gopi Chand Meena Bharatiya Janata Party 94970 (51.65%) Dheeraj Gurjar Indian National Congress 81717 (44.44%) None Of The Above None Of The Above 2984 (1.62%) Nand Lal Khatik Bahujan Samaj Party 1551 (0.84%) Ratan Singh Independent 1551 (0.84%) Kajod Mal Independent 623 (0.34%) Ram Karan Meena 483 (0.26%)

Jahazpur Constituency RJ Election Result: What happened in 2013

Dhiraj Gurjar of the Indian National Congress was the winning candidate from the Jahazpur constituency in the RJ Assembly elections 2013, securing 75753 votes while 71491 votes were polled in favour of Shivjiram Meena of the Bharatiya Janata Party. The margin of victory was 4262 votes.

2013 Jahazpur Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesDhiraj GurjarIndian National Congress75753

Candidate List Party Name Votes Gained (Vote %) Dhiraj Gurjar Indian National Congress 75753 (46.1%) Shivjiram Meena Bharatiya Janata Party 71491 (43.51%) Ratanlal Independent 4847 (2.95%) Dinesh Dhakar Bahujan Samaj Party 3911 (2.38%) None Of The Above None Of The Above 3043 (1.85%) Chhotu Lal Meena National People’s Party 1681 (1.02%) Rang Lal Independent 1476 (0.9%) Jeevan Lal Bharatiya Yuva Shakti 670 (0.41%) Chhagna Independent 621 (0.38%) Chetan Prakash Independent 430 (0.26%) Khaju Khan Independent 390 (0.24%)

Jahazpur Constituency RJ Election Result: What happened in 2008

Shivjiram Meena of the BJP was the winning candidate from the Jahazpur constituency in the RJ Assembly elections 2008, securing 56339 votes while 54474 votes were polled in favour of Dhiraj Gurjar of the INC. The margin of victory was 1865 votes.

2008 Jahazpur Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesShivjiram MeenaBJP56339

Candidate List Party Name Votes Gained (Vote %) Shivjiram Meena BJP 56339 (43.77%) Dhiraj Gurjar INC 54474 (42.32%) Avdhesh Sharma BSP 4322 (3.36%) Ram Gopal Laddha IND 3350 (2.6%) Jivan Lal IND 2620 (2.04%) Mohan Singh BJSH 2167 (1.68%) Om Prakash Meena SP 1976 (1.54%) Mahaveer Prasad IND 1930 (1.5%) Heera Lal BHBP 765 (0.59%) Daulat Singh SHS 765 (0.59%)

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Aug 6, 2023
Nifty to top 17900 or more correction on cards? 7 things to know before share market opens

Indian benchmark indices are likely to open on a positive note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the green at 17834 level. In the previous session, BSE Sensex fell 251 pts to 60,432, while NSE Nifty 50 declined 86 pts to 17,771. “Market to remain lacklustre as investors await key economic data on global as well as domestic front to provide some clear direction. Domestic CPI inflation jumped to 6.52% in January, while the US would release its monthly CPI data on Tuesday along with Europe’s GDP numbers. Auto and Capital goods stocks likely to do well on the back of good quarterly results,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Key things to know before share market opens

Global market watch: Asia-Pacific markets were all higher on Tuesday as investors await the release of the US consumer price index report, which will shape the Federal Reserve’s path ahead. Japan’s Nikkei 225 rose 0.68%, and South Korea’s Kospi started the day 0.5% higher. Hong Kong’s Hang Seng index opened 0.34% higher. In mainland China, the Shanghai Composite climbed 0.72%. Overnight in the US, the three major indexes closed sharply higher. The S&P 500 climbed 1.15%, Nasdaq gained 1.48%, and Dow Jones Industrial Average rose 1.11%.

Key level to watch: Nifty has support at 17,729 followed by 17,691 and then 17,630. If the index moves up, the key resistance levels to watch out for are 17,852, followed by 17,890 and 17,951. Meanwhile, Bank Nifty has support at 41,175, followed by 41,056 and 40,863. On the upside, key resistance levels are 41,560, followed by 41,679, and 41,872.

FII and DII data: Foreign institutional investors (FII) bought shares worth Rs 1,322.39 crore, while domestic institutional investors (DII) purchased shares worth Rs 521.69 crore on 13 February, according to the provisional data available on NSE.

Stocks under F&O ban on NSE: The National Stock Exchange BHEL, Punjab National Bank (PNB), Ambuja Cements and Indiabulls Housing Finance stocks on its F&O ban list for 14 February. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

Crude Oil prices slide: Oil prices fell in early Asian trade on Tuesday after the U.S. government said it will release more crude from its Strategic Petroleum Reserve (SPR) and on other reports that more supply is coming into the market. Brent crude futures fell by 82 cents, or 1%, to $85.79 per barrel by 0132 GMT, while U.S. crude futures fell by $1.04, or 1.3%, to $79.10 per barrel.

Q3 Results today: Adani Enterprises, Eicher Motors, Grasim Industries, ONGC, Apollo Hospitals Enterprises, Aster DM Healthcare, Bata India, Bharat Forge, Biocon, Bosch, CESC, GMR Airports Infrastructure, Indiabulls Housing Finance, Ipca Laboratories, NBCC (India), NMDC, PI Industries, PNC Infratech, Prestige Estates Projects, Radico Khaitan, Siemens, Spencers Retail, SpiceJet, Swan Energy, and Torrent Power will report their quarterly earnings on 14 February.

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Aug 5, 2023
Sensex falls 300 pts, Nifty below 17800 in early trade on Mon, Feb 13; Adani Green shares dip, Paytm stock gains

Indian equity indices were trading in the red territory in the early morning trade on Monday. The Nifty 50 fell 103.10 pts or 0.58% to 17,753.40 and Sensex dropped 329.69 pts or 0.54% to 60,353.01. The top gainers of Sensex were Titan (up 1.41%), Tata Steel (up 1.15%), Power Grid (up 0.56%), Larsen & Toubro (up 0.56%) and Bharti Airtel (up 0.51%) while State Bank of India (down 2.54%), Infosys (down 2.17%), Mahindra & Mahindra (down 1.77%), TCS (down 1.49%) and Tech Mahindra (down 1.22%).

Paytm shares recovered partly today after sinking 9% on Friday after the Chinese e-commerce giant Alibaba offloaded its entire holding in the online payments aggregator. Paytm shares rose 4.28% to Rs 678.00 on BSE in an otherwise negative market with Sensex and Nifty 50 falling half a percent. Alibaba offloaded 21,431,822 shares of Paytm’s parent One97 Communications in a bulk deal on Friday, translating to about a 3.4% equity stake.

Sectoral Indices

The sectoral indices were trading broadly lower. Bank Nifty fell 0.45%, Nifty Auto fell 0.88%, Nifty IT fell 1.84%, Nifty Pharma down 0.14%, Nifty PSU Bank down 1.94% and Nifty Realty down 0.49% while Nifty Metal rose 0.37%.

Asian and US stock markets

Asian markets were trading mostly in green in the early morning trade. Japan’s Nikkei 225 fell 316.17 or 1.41% to 27,354.81, Hong Kong’s Hang Seng dipped 220.98 pts or 1.04% to 20,969.44 and China’s Shanghai Composite index rose 12.66 pts or 0.39% to 3,273.33.

The US equity indices ended Friday’s session mixed. The Dow Jones Industrial Average rose 169.30 pts or 0.50 % to 33,869.27, S&P 500 rose 8.96 pts or 0.22% to 4,090.46 and Nasdaq fell 71.46 pts or 0.61% to 11,718.12.

FII and DII data

Foreign institutional investors (FII) bought shares worth a net Rs 1458.02 crore while domestic institutional investors (DII) sold shares worth a net Rs 291.34 crore on Friday, February 10, 2023, according to the data available on NSE. For the month till February 10, FIIs sold shares worth a net Rs 5,414.21 crore while DIIs bought shares worth a net Rs 6,453.05 crore.

NSE F&O Ban

Indiabulls Housing Finance and Ambuja Cements are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Monday, February 13. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL).

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Aug 4, 2023
Kherwara Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Kherwara RJ Assembly Election 2023 Details: The election for Kherwara Assembly Constituency in Rajasthan will be held on November 25 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Kherwara Constituency Assembly Election 2023 that you should know.

Kherwara Constituency Rajasthan Assembly Election 2023: Voting Date

November 25 is the date of voting for the Kherwara Assembly Constituency Election 2023 as announced by the Election Commission of India.

Kherwara Constituency Rajasthan Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Kherwara Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Kherwara Constituency Assembly Election 2023 is Important

Kherwara is a state Assembly/Vidhan Sabha constituency in the state of Rajasthan and is part of the Kherwara Lok Sabha/Parliamentary constituency. Kherwara falls in the Kherwara district of Rajasthan and is categorised as an urban seat.

Kherwara Constituency RJ Election Result: What happened in 2018

Dayaram Parmar of the Indian National Congress was the winning candidate from the Kherwara constituency in the RJ Assembly elections 2018, securing 93155 votes while 68164 votes were polled in favour of Nanalal Ahari of the Bharatiya Janata Party. The margin of victory was 24991 votes.

2018 Kherwara Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesDayaram ParmarIndian National Congress93155

Candidate List Party Name Votes Gained (Vote %) Dayaram Parmar Indian National Congress 93155 (48.45%) Nanalal Ahari Bharatiya Janata Party 68164 (35.45%) Praveen Kumar Parmar Bhartiya Tribal Party 20383 (10.6%) None Of The Above None Of The Above 5899 (3.07%) Savita Bahujan Samaj Party 2470 (1.28%) Savita Parmar Aam Aadmi Party 2206 (1.15%)

Kherwara Constituency RJ Election Result: What happened in 2013

Nana Lal Ahari of the Bharatiya Janata Party was the winning candidate from the Kherwara constituency in the RJ Assembly elections 2013, securing 84845 votes while 73679 votes were polled in favour of Dayaram Parmar of the Indian National Congress. The margin of victory was 11166 votes.

2013 Kherwara Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesNana Lal AhariBharatiya Janata Party84845

Candidate List Party Name Votes Gained (Vote %) Nana Lal Ahari Bharatiya Janata Party 84845 (49.3%) Dayaram Parmar Indian National Congress 73679 (42.81%) None Of The Above None Of The Above 5978 (3.47%) Savita Meena Bahujan Samaj Party 2669 (1.55%) Khemraj Damor Independent 1979 (1.15%) Kanti Lal Daranga National People’s Party 1845 (1.07%) Laxmichand Meena Janata Dal (secular) 1098 (0.64%)

Kherwara Constituency RJ Election Result: What happened in 2008

Dayaram Parmar of the INC was the winning candidate from the Kherwara constituency in the RJ Assembly elections 2008, securing 68702 votes while 53945 votes were polled in favour of Nana Lal Ahari of the BJP. The margin of victory was 14757 votes.

2008 Kherwara Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesDayaram ParmarINC68702

Candidate List Party Name Votes Gained (Vote %) Dayaram Parmar INC 68702 (50.2%) Nana Lal Ahari BJP 53945 (39.42%) Prem Kumar Limbat (meena) IND 7590 (5.55%) Khemraj Damor BSP 6618 (4.84%)

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Aug 3, 2023
Brokers stop offering margin trading on select Adani scrips

The majority of top brokers have stopped providing the margin trading facility to investors wanting to take leverage on shares of several Adani Group companies, according to people in the know.

The companies include Adani Green Energy, Adani Total Gas, Adani Power, and Adani Transmission that have been consistently hitting the lower circuit in the past few days.

The margin trading facility (MTF) offered by brokers allows investors to buy stocks by paying just a fraction of the total transaction value. The balance amount is funded by the broker.

The margin can be given in the form of cash or shares as collateral depending upon the availability with the respective investor. According to current rules, shares bought using MTF must be pledged in favour of the broker.

Brokers holding the above-mentioned Adani shares as collateral have been struggling to offload them in the market due to lack of buyers and stoppage in trading after hitting lower circuits.

“Brokers are trying to square off their positions and get away from Adani scrips. There is some buying interest from speculators, but brokers have decided not to offer leverage for the next three months or till things stabilise,” said an industry official, on condition of anonymity.

“Further MTF exposure in several Adani Group stocks has been stopped till clarity emerges,” said Ashish Rathi, whole time director, HDFC Securities.

Brokers who have provided funding have incurred significant losses given that some of the Adani securities didn’t have liquidity and exit wasn’t available, said experts.

MTF for Adani Enterprises and Adani Ports & Sez, however, is still being offered by brokers as these are part of the Nifty 50 index.

The National Stock Exchange of India had included Adani Enterprises, Adani Ports & SEZ and Ambuja Cements under the short-term additional surveillance measure from February 3. This implied margins of 50% or higher. On February 10, Adani Ports and Ambuja Cements were removed from this list.

Gautam Adani, chairman of the Adani Group, said on Tuesday the current market volatility was temporary and that AEL would continue to work with the twin objectives of moderate leverage and look at strategic opportunities to expand and grow.

Two large Adani Group companies are likely to repay their short-term commercial paper debt as they come due over the next few months, instead of rolling them over as is normal, according to a Reuters report. The Group has appointed accountancy firm Grant Thornton for independent audits of some of its companies in a bid to discredit claims by short-seller Hindenburg Research that have battered its stocks and bonds, Reuters reported Monday.

MSCI has changed the foreign inclusion factor in Adani Transmission, Adani Total Gas and Adani Enterprises, which could lead to estimated outflows of $416 million in these companies. The MSCI passive trackers will implement changes on February 28.

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Jul 28, 2023
NSE FO ban: PNB, BHEL and others under ban on Tuesday, February 14, 2023

The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of up to four stocks/securities on Tuesday, February 14, 2023. BHEL, Indiabulls Housing Finance, Ambuja Cements and Punjab National Bank (PNB) are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Tuesday. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

Earlier, on Monday, the total number of contracts traded in Index futures was 2,64,003 with a turnover of Rs 25,264.02 crore; while contracts traded in stock futures were 8,07,686 with a turnover of Rs 51,791.33 crore.

Indiabulls Housing Finance and Ambuja Cements were put on the F&O ban earlier on Monday, February 13, 2023. The domestic equity indices ended the previous session in red with BSE Sensex falling 250.86 points or 0.41% to 60,431.84 and NSE Nifty 50 plunging 85.60 pts or 0.48% to 17,770.90.

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Jul 28, 2023
Petrol and Diesel Rate Today, 3 February: Fuel prices steady, Check rates in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Fuel prices continued to stagnate on Friday, 3 February 2023, keeping costs steady for about eight months now. In Delhi, petrol price is priced at Rs 96.72, while diesel in the National Capital is retailing at Rs 89.62 per litre. In Mumbai, petrol is retailing at Rs 106.31 per litre, and diesel is selling at Rs 94.27 per litre. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, the local taxes, etc.

Crude oil prices made modest gains in early trade on Friday but were heading for a second straight week of losses, as the market looked for more signs of a strong recovery in fuel demand in China to offset looming slumps in other major economies, said Reuters.

Since the cut of excise duty by the central government in May 2022, some states have also reduced VAT prices on fuels. Himachal Pradesh government on 8 January increased value-added tax (VAT) on diesel by Rs 3 per litre. The hike varies as per different fuel stations. On the other hand, the govt slashed taxes on petrol by 0.55 paise. After the revision, the VAT on diesel, will now go up to Rs 7.40 per litre from Rs 4.40 per litre, pushing prices in the state to Rs 86 per litre.

Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates. Any changes in petrol and diesel costs are implemented from 6 am every day. The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.

Oil Minister Hardeep Singh Puri recently asked Oil Marketing Companies (OMCs) to cut the retail prices of petrol and diesel if the crude oil prices in the international market come down and also if OMCs under recovery come down. OMCs incurred a loss of Rs 21,200 crore on account of selling petrol and diesel below the cost price.

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