Title – UltraTech Cement to double down on capex plans
Description – In this episode, find out Coal India’s plan to list 25% shares of Bharat Coking Coal, also find out about Aesther Industries listing today
Business Term of the Day: price band
India’s largest cement producer UltraTech Cement on Thursday said it will invest ₹12,886 crore to increase its production capacity by 22.6 million tonnes per annum (MTPA). The company’s Board of Directors at its meeting held on Thursday approved the capital expenditure required to increase expansion capacity.
Yes Bank on Thursday received approval for the buyback of notes issued under the lender’s Medium Term Note Programme to the tune of $200 million. The capital raising committee has approved the plan and recommended the bank to make a tender offer for the re-purchase of the overseas bonds.
Coal India: The coal ministry has floated a draft cabinet note for seeking inter-ministerial views on the proposal to list 25 per cent shares of Coal India arm BCCL. As a part of Coal India (CIL) restructuring, the government has decided for an initial listing of 25 per cent shares of Bharat Coking Coal Ltd (BCCL).
WardWizard Innovations: Gujarat-based electric two-wheeler maker WardWizard Innovations on Thursday said it has recorded over a three-fold jump year-on-year in sales to 2,055 units in May, driven by the growth in the low-speed category.
HDFC: HDFC on Thursday announced the collaboration with global information technology services and consulting firm, Accenture to digitally transform its lending business. The tie-up will revamp HDFC’s customer experience and business processes to provide greater operational agility and efficiency, and drive business growth.
Moving on to markets
The Sensex and Nifty benchmarks are likely to start Friday’s session on an upbeat note following a relief rally in the US markets overnight.
At 8 am, the SGX Nifty futures were quoting at 16,800 levels, hinting at an opening gain of around 200 points for the Nifty.
Market action will continue to be stock specific, however, the weekend factor may also keep investor sentiment subdued. That said, the price action in commodity market will be keenly monitored after the OPEC+ announced it will increase oil production by 648,000 barrels per day in both July and August, steering away from its previous levels of around 4,00,000 only.This comes as pressure on oil prices has mounted after the EU announced banning oil imports from Russia,
Back home, Aether Industries will debut on the bourses today. The company had raised Rs 808 crore from its IPO, which was subscribed 6.3 times, with strong demand from institutional investors. The issue price is fixed at Rs 642.
Castrol India will also be in focus as MG Motor India and the company are set to collaborate with Jio-bp to explore mobility solutions for electric cars.
, and was set for a sixth weekly advance, after a keenly anticipated OPEC+ supply meeting delivered only a modest increase in output. In Asia, shares rose in Japan, Australia, and South Korea, while markets in Shanghai and Hong Kong were closed for public holidays.
Business Term of the day
A price band is a value-setting method in which a seller indicates an upper and lower cost limit, between which buyers are able to place bids. The price band’s floor and cap provide guidance to the buyers. This type of auction pricing technique is often used with initial public offerings (IPOs).
In this episode, find out why IMF Chief economist Gita Gopinath says the delay in covid vaccination is a global risk; why Asian markets opened mixed even as the US market touched a ... Read more
In this episode, find out why IMF Chief economist Gita Gopinath says the delay in covid vaccination is a global risk; why Asian markets opened mixed even as the US market touched a record high? and more to start your business day. Business Term of the Day: Covaxin. Read more
