News Overview

Over Rs 139 crore in dividends were given to shareholders of the company in total for the fiscal year 2022–2023.

TCIL received a tax penalty notice of approximately Rs 40 lakh on October 4, 2023, from the Deputy Commissioner of Commercial Taxes, Jamshedpur Circle.

In August, Vedanta reached out high court stating that the department has not remitted its determined refund of over Rs 190.23 crore for AY 2021-22.

The dollar index, which earlier in the week reached a high of about 11 months at 107.34, last traded at 106.37, but it has continued to rise for 12 weeks in a row.

Last week, both benchmarks climbed to 2023 highs, but this week, Brent has fallen 11.8% and WTI by around 8.8%.

On October 1, the government increased the price of jet fuel, or ATF, by 5%, marking the fourth consecutive monthly increase since July.

Spot gold was unchanged at $1,820.35 per ounce, while U.S. gold futures increased by 0.1% to $1,834.10. Since September 25, prices have closed lower every day of trading, adding 1.5% further losses this week.

Stable Repo Rate - RBI's Festive Season Boon to Housing Market

On the Chemicals front, Crude rallied and drove up the aromatics prices. Phenol spreads started rising, on the back of better phenol and acetone realisation while ammonia continued its uptrend in Sep’23 (up ~28%).

NBFCs have evolved unique strategies to scale up new segments that leverage their existing strengths - physical distribution network, customer segment, geographical knowledge.