Sunday, October 04
Early rains in several parts of the country dampened fuel consumption in June, with diesel slipping to negative territory again after two months of growth, according to provisional industry data. After two months of robust consumption growth, petrol demand slowed to 2.3 per cent to 1.4 million tonnes in the first half of June, sales data of three state-owned fuel retailers, which control about 90 per cent of the market, showed. Petrol demand had risen by close to 9 per cent in May. Diesel saw a 4.8 per cent decline in consumption at 3.26 million tonnes between June 1 and June 15. The demand for India's most used fuel has rebounded since April - rising by nearly 4 per cent in April and 2 per cent in the following month. Diesel, the lifeline of transport and rural agri economy, saw a just 2
The Rs 1,387 crore initial public offering (IPO) of Oswal Pumps, one of India’s fastest-growing solar pump manufacturers, was fully subscribed as of the second day of bidding on Monday. The issue received an overall subscription of 1.08 times, driven by strong interest from retail and non-institutional investors, even as institutional demand remained muted.By 2:15 p.m., the IPO had received bids for 1.75 crore shares against 1.62 crore shares on offer. Non-institutional investors led the way, subscribing 2.62 times their allocated quota, followed by retail investors at 89%. Qualified institutional buyers (QIBs) had bid for 24% of their portion.GMP signals modest listing popThe grey market premium (GMP) for Oswal Pumps stood at Rs 60 as of 12:54 p.m. on June 16, indicating a likely listin
