Sunday, October 04
Shares of state-run oil producers Oil and Natural Gas Corporation (ONGC) and Oil India rose up to 3% on Monday, buoyed by higher global crude oil prices following intensified military exchanges between Israel and Iran that raised fears of a broader regional conflict. However, the crude rally dragged down oil marketing companies (OMCs) and tyre makers amid concerns over rising input costs.ONGC share price rose as much as 2% to Rs 256.40 on the BSE, while Oil India gained 2.9% to touch Rs 491.65. Higher crude prices tend to support upstream producers like ONGC and Oil India by boosting their realisations from oil sales.While upstream stocks surged, the rally in crude put pressure on downstream oil refiners. Indian Oil Corporation (IOCL) declined 1.1% to Rs 138.95. Bharat Petroleum Corporatio
The Rs 1,387 crore initial public offering (IPO) of Oswal Pumps, one of India’s fastest-growing solar pump manufacturers, was subscribed 36% as of the second day of bidding on Monday, with strong traction from retail and non-institutional investors even as institutional demand remained muted.By 10:44 a.m., the IPO had garnered bids for 57.89 lakh shares against the 1.62 crore shares on offer. Non-institutional investors led the way, subscribing 79% of their allocated portion, followed by retail investors at 37%. Qualified institutional buyers (QIBs) had bid for just 1% of their quota.Anchor, offer structure and timelineThe IPO, which opened for subscription on June 13 and will close on June 17, comprises a fresh issue worth Rs 890 crore and an offer for sale of 81 lakh shares by promoter
Israeli fire and airstrikes killed at least 41 Palestinians across Gaza on Sunday, local health authorities said, at least five of them near two aid sites operated by the U.S.-backed Gaza Humanitarian Foundation (GHF). Medics at Al-Awda Hospital in the central Gaza Strip said at least three people were killed and dozens wounded by Israeli fire as they tried to approach a GHF site near the Netzarim corridor. Two others were killed en route to another aid site in Rafah in the south. An airstrike killed seven other people in Beit Lahiya town north of the enclave, medics said. In Nuseirat camp in central Gaza Strip, medics said an Israeli airstrike killed at least 11 people in a house. The rest were killed in separate airstrikes in the southern Gaza Strip, they added. There was no immediate co
