TOKYO (Reuters) – Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply. Brent crude was up 33 cents, or 0.5%, at $73.02 by 0455 GMT. It earlier rose to $73.12, […]
Day: June 15, 2021
May retail inflation at 6-month high of 6.3% on higher food, fuel prices
India’s retail inflation shot up to six-month high of 6.3 per cent in May, after easing to a three-month low of 4.23 per cent in April, according to the government data released on Monday. Inflation, based on Consumer Price Index (CPI), has breached the Reserve Bank of India’s (RBI) target range for the first time […]
Retail inflation jumps to 6-month high of 6.3% on higher food, fuel prices
Retail inflation accelerated to a six-month high of 6.3 per cent in May, breaching the upper tolerance limit of the inflation target range set by the Reserve Bank of India’s monetary policy committee. Data released by the Ministry of Statistics and Programme Implementation, on Monday, showed that higher inflation was driven by higher prices across […]
Vedanta to pay salary till retirement to kin of employees dying of Covid
Metal-to-oil conglomerate Vedanta will families of any of its employees dying of COVID, the last drawn fixed salary till the notional date of retirement as it expanded its pandemic cover for its employees, their families, and business partners. It announced an ex gratia payment of Rs 10 lakh each to the families of the deceased […]
Govt may raise foreign investment limit to aid BPCL sale: Report
India is considering making it easier for foreign investors to acquire control of Bharat Petroleum Corp., according to people familiar with the matter, as the government tries to sell the state firm and bridge a widening budget deficit. If the cabinet clears the proposal, overseas funds would no longer need government approval to purchase a […]
Application window for PLI scheme for white goods opens from Tuesday
The application window for the PLI scheme for white goods – ACs and LEDs – will be open for three months from Tuesday, the commerce ministry said on Monday. Commerce and Industry Minister Piyush Goyal on Monday held interaction with the industry on the Production Linked Incentive (PLI) scheme on white goods. “The interaction was […]
Limited coverage: Few analysts track Adani group companies, shows data
The coverage of Adani group among analysts is currently lower than that of other industrial groups. An analysis of available Bloomberg data on coverage shows that it is a single-digit number for every Adani group company except for Adani Ports, which has 26 analysts covering it. The Adani group has five listed entities, and the […]
Four foreign funds in limelight for skewed investment in Adani group firms
At least 4 foreign funds are in the limelight for their skewed investment in Adani group companies. Elara India Opportunities Fund, Albula Investment, APMS Investment and Cresta Fund have investment in a number of domestically listed firms besides the Adani group firms. However, the value of their holdings in Adani group stocks is between 94.7% […]
In the eye of the storm: Adani stocks crash on rumours of FPI freeze
Shares of Adani Group companies came under heavy selling pressure on Monday following a report that the accounts of three foreign portfolio investors (FPIs) that own group stocks have been frozen by depository firm NSDL – something that the company, the FPIs and NSDL strongly denied later in the day. Adani Enterprises and Adani Ports […]
Adani stocks among most expensive on bourses: Check details here
Adani group companies such as Adani Ports and SEZ and Adani Enterprises were among the biggest losers on the bourses on Monday. The combined market capitalisation of the six group companies declined by 5.7 per cent to Rs 8.97 trillion from Rs 9.51 trillion on Friday. The group’s cash cow, Adani Ports and SEZ, was […]
NSDL says no freeze on accounts of 3 FPIs holding Adani stocks: Report
National Securities Depository Ltd (NSDL) on Monday clarified that the status of demat accounts of three foreign portfolio investors (FPI) accounts — Albula Investment Fund, Cresta Fund and APMS Investment Fund —- are in ‘active’ status in NSDL system, Reuters reported citing unnamed source. Seperately, CNBC TV18 has also reported the same information that the […]
Reports of NSDL freezing accounts of 3 FPIs are erroneous: Adani Group
Adani Group companies on Monday informed the stock exchanges that news reports on National Securities Depository Ltd (NSDL) freezing the accounts of three foreign funds — Albula Investment Fund, Cresta Fund and APMS Investment Fund — are blatantly erroneous. Read the full release here “It is done to deliberately mislead the investing community. This is […]