Auto Sector

Amidst rising inflation and global hawkishness, the RBI is likely to keep repo rates at 6.50%. However, the focus of the policy statement on October 06, 2023 could shift from rates to liquidity and the language of the RBI.

IHC claimed that the increase in its stake was a reflection of its confidence in Adani Enterprises' (AEL) capacity to "incubate" and expand airports, data centres, and green hydrogen enterprises.

Plaza Wires' IPO is priced in the range of Rs 51-54 per share.

Following the reduction in E2W subsidies in May, there was a huge drop in June at 46,057 units.

As analysts of IIFL Capital Services have highlighted previously, PV wholesales have been much higher than retails in the past 6-8 months, leading to significant inventory build-up.

Spot gold was unchanged at $1,823.59 per ounce, while U.S. gold futures were down 0.1% to $1,839.20.

The company priced the IPO in the range of Rs 280-300 per share. Ahead of the issue launch, it has raised about Rs 288 crore from anchor investors.

Brent crude oil futures had increased by 6 cents to $90.98 per barrel, while WTI had increased by 11 cents to $89.34.

According to the statement, the state-owned insurer has been fined for breaking sections 271(1)(c) and 270A of the Income Tax Act of 1961.

Maruti will present its concerns to the Dispute Resolution Panel.