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Petrol and Diesel prices in cities across India on 18-09-2023

Tata Steel has announced a joint agreement with the UK govt to invest GBP1.25bn for a 3mtpa EAF facility.

Two separate term loans for the company, each for Rs 300 crore and Rs 1000 crore, are due on respective dates of November 14, 2023, and March 31, 2024.

The factory, Ashok Leyland's seventh in India, will initially have a capacity of 2500 buses per year.

The euro increased by 0.11% to $1.0667 while the dollar index was slightly lower at 105.23. Sterling last traded at $1.2397, up 0.06% for the day.

Analysts of IIFL Capital Services cut their EPS estimates by 2% for FY25/FY26 to factor in the slower-than-expected margin recovery, as the company intends to increase its brand investments to 8-10% range in medium term

Analysts of IIFL Capital Services also highlight runaway growth in Personal loans (27% 4yr Cagr and 36% YoY in FY23) as an area of concern.

In early September, VIL had cleared around 10% of its April-June quarter dues to the Department of Telecommunications (DoT).

Spot gold was dormant at $1,924.29 per ounce. At $1,946.10, U.S. gold futures were stable.

Brent crude futures had increased by 5 cents, or 0.1%, to $93.98 per barrel, while U.S. West Texas Intermediate crude had increased by 15 cents, or 0.2%, to $90.92 per barrel.