News Overview

Reversal of pre-buy impact in Jan-Mar (related to BS-VI Phase 2) had led to weak volumes in Apr-May. LCV industry declined 3% YoY, which is a continuation of weak trend in recent months.

Employees have been informed of the new structure in order to ensure that their roles and responsibilities are clear and transparent.

The government and ONGC, which own 51% and 49% of Pawan Hans, jointly own the business.

JM hopes to raise up to Rs 1,500 crore for the fund's final closing, including co-investments. As a sponsor pledge to the fund, the group has contributed 10% of the capital.

The company is likely to announce its allotment on July 5 as the issue closes on June 30, rather than previous closing date of June 29.

According to the report, "the cement capacity is expected to increase by 6% in FY2024, the highest addition in the last five years."

Chaitanya Rathi has tendered his resignation.

As of May 19, 2023, 76% of the Rs 2,000 banknotes in use have subsequently been returned.

The average gross operated production of oil and gas for the company was 134,867 boepd.

The rupee opened at 81.92 against the dollar