Auto Sector

Spot gold reached its highest level since August 10 on Monday and was up 0.1% to trade at $1,921.69 per ounce. At $1,949.30, U.S. gold futures were up 0.1%.

The IPO of Aeroflex Industries commenced on August 22nd and concluded on August 24th, featuring a price range of Rs 102 to Rs 108 per share.

On Monday, the rupee had gained 2 Paise against the dollar to close at 82.63.

After falling 0.2% on Monday, the dollar index, which compares the value of the dollar to six significant rival currencies, slid 0.077% to 103.85.

Brent crude had fallen 2 cents to $84.40 per barrel, while U.S. West Texas Intermediate had fallen 3 cents to $80.07.

Petrol and Diesel prices in cities across India on 29-08-2023

For this IPO, the company has set a price band of Rs 94-99 per share, with investors having the option to bid for a minimum of 150 shares in a single lot, and in multiples thereafter.

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The company will invest Rs 900 crore this fiscal year, with the remaining amount spread out over the following three to four years as it transitions from being a pure-play two- and three-wheeler corporation to one that is focused on connected, sustainable, and greener.

The largest engineering company in India has stated that the magnitude of the L&T repurchase would be Rs 10,000 crore.