Oil marketing companies (OMCs), paint and tyre stocks are likely to hog the limelight today as the crude oil prices jumped 20 per cent following an attack on Saudi Arabia’s oil facilities on Saturday that cut more than 5% of global oil supply. The prices, however, retreated a bit but was still up 10 per cent till the time of writing this report.
may also remain in focus today as the rupee is expected to depreciate following sharp surge in the oil prices.
The company on Friday announced that due to continued low demand in the automobile sector it has decided to observe Block Closure (Chassis Division) for 6 days.
The largest lender State Bank has dropped its plan to take its general insurance arm public as there is no need for additional capital now, chairman Rajnish Kumar has said. READ MORE
A latest legal twist is likely to delay the company's plan to sell battery business, as per a news
report by Business Standard. The Calcutta High Court on September 3 passed an ad-interim (temporary) order of injunction restraining the battery maker from transferring, alienating, or encumbering any of their tangible or intangible assets till the application filed by Infrastructure Leasing & Financial Services (IL&FS) was disposed of. READ MORE
Cess collection under the goods and services tax (GST) has fallen short of requirements in the first five months of the fiscal year, dimming rate-cut hopes for the auto sector in the upcoming GST Council meeting on Friday, said a Business Standard report. READ MORE
The Finance Minister on Saturday announced a special window to provide the last-mile funding requirement for housing projects that are non-NPA and non-NCLT projects and are stuck due to lack of funding. This will be set up with a fund size of Rs 10,000 crore funded by the government. READ MORE
Glenmark: As per reports, USFDA has issued 0 observations to its Indore unit.
Prabhat Dairy: The company's board has approved delisting of shares at a floor price of Rs 63.77 per share.
Equitas Holdings (EHL), the promoter of Equitas Small Finance Bank (ESFB), will be initiating steps to issue an initial public offering (IPO) of the bank with the aim to list the shares by March 2020.