Oil companies: The government cut the windfall profit tax on locally-produced crude oil and diesel on Saturday, in line with a fall in international rates, and scrapped the levy on the export of jet fuel with effect from October 2. The government reduced the tax on domestically-produced crude oil to Rs 8,000 per tonne from Rs 10,500 per tonne.
Telcos: Telecom companies will be at the focus as Prime Minister Narendra Modi launched the 5G telephony services that promise to provide ultra high-speed internet on mobile phones, saying it marks the beginning of a new era and presents an infinite sky of opportunities.
Gas distributors: Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, were hiked by a steep 40 per cent to record levels, in step with global firming up of energy rates.
Auto manufacturers: Auto stocks, including two-wheelers, four wheelers and commercial vehicle makers, will also be buzzing at the dalal street after announcing their sale unit for the month of September on the weekend. The numbers would give key guidance of demand ahead of the festive season.
Coal India: The state run coal miner said its coal production in September 2022 increased by 12.3 per cent to 45.7 million tonnes, and offtake rose by 1.1 per cent to 48.9 million tonnes compared to same period last month. However, these are provisional numbers.
: The drug maker said it has received approval from the US health regulator to market Sildenafil for oral suspension, used to treat pulmonary hypertension, in the American market. The company has received approval from the US Food and Drug Administration (USFDA) to market the product.
LIC Housing Finance: The mortgage lender hiked its lending rates by 0.50 per cent, hours after a similar move by the RBI. The company increased the LIC Housing Prime Lending Rate by 0.50 per cent. LHPLR is the benchmark rate to which the interest rate on LIC HFL’s loans are linked.
Zee Entertainment Enterprises: Shareholders of the media company approved all eight resolutions in the Annual General Meeting of the company. The resolution for the re-appointment of its Managing Director Punit Goenka on board was also approved at the 40th AGM with the required majority.
APL Apollo Tubes: The steel tube maker registered the highest quarterly sales volume of 6.02 lakh tonnes in Q2FY23, up 41 per cent on a yearly basis. The sales volume for the first half of FY23 was 10.25 lakh tonnes compared to 8 lakh tonnes in the same period last year.
: The newly launched Akasa Air has partnered with the SaaS provider for gathering real-time air travel information that will help the airline in deciding dynamic fares. RateGain said its AI-powered platform AirGain provides the airline’s revenue and pricing teams with the most accurate and reliable market insights.
Bank of Baroda: Competition Commission of India (CCI) has cleared Bank of Baroda’s proposed acquisition of a 21 per cent stake in IndiaFirst Life Insurance. The transaction involves the Bank’s acquisition of 21 per cent shareholding of IndiaFirst Life Insurance Company from
.
: Care Ratings has upgraded the long-term rating of the NBFC and and its subsidiary named Poonawalla Housing Finance to ‘AAA’ with a stable outlook. This rating is applicable for bank loan facilities, non-convertible debentures, market-linked debentures and subordinated debt.
Dilip Buildcon: The civil construction company received a provisional completion certificate for rehabilitation and up gradation from two to four lane for Varanasi – Dagamagpur section of the National Highway-7 on EPC mode in Uttar Pradesh. With this, the authority declared the project fit for entry into commercial operations.
: Rating agency Crisil has removed the company from ‘watch with developing implications’ and reaffirmed rating as ‘A’ with a stable outlook for bank loan facilities worth Rs 3,500 crore.
: The dairy firm said its premium milk brand Pride of Cows has now entered Ahmedabad where it will provide fresh cow milk straight from its Bhagyalakshmi Dairy Farm near Pune. Following positive responses to Pride of Cows in Mumbai, Delhi, Pune and Surat, the brand has now entered the Ahmedabad market.
: The smallcap realty firm has received orders worth Rs 177 crore from various oil and gas distribution companies during the quarter ended September 30, 2022. The total outstanding order book of the company as on September 2022 is Rs 1,125 crore.
Madras Fertilisers: The fertilizers firm has signed an MoU to annually import 30,000 tonnes of phosphoric acid solution from Dubai-based Agrifields to boost the availability of non-urea nutrients for three years. This is a significant step toward improving the availability of DAP and NPK fertilisers for Indian farmers.
: The smallcap logistics solution provider has approved the allotment of conversion of the unsecured foreign currency convertible bonds (FCCBs) of $2 million after the allottee trustee exercised the option for the same at the conversion price of Rs 250 each.
: The company will provide software support services to
(MCX) for three months effective from October 1. Its ongoing software support and maintenance agreement ended on September 30.
: Mayur Toshniwal has resigned as a director of the debt ridden company with effect from September 30, 2022. With his resignation, Mayur has also ceased to be Managing Director of the Future Group firm.
: The smallcap NBFC has completed a securitization transaction of Rs 121.56 crore on September 30. This is the fourth securitization transaction carried out by the company during the FY23. The entire pool is from the non – priority sector and has been taken after considering the RBI guidelines.
