News Overview

HPCL revised the cost estimate for the Visakh Refinery Modernization Project (VRMP) to ₹30,609 Crore, with completion anticipated by October 2024.

The company announced a generous support package for affected employees, including voluntary redundancy, re-skilling opportunities, and cross-matching for other roles.

Securities placed under the ban have surpassed 95% of MWPL, triggering the stock exchange's ban period.

The dollar rose against the yen after a volatile day on Wednesday that saw the US currency fall as much as 1.24%

According to data released on Wednesday, consumer prices in the United States rose 0.2% last month, mirroring the increase seen in July.

Brent crude futures for November were up 24 cents, or 0.34%, to $70.86 a barrel. US crude futures for October were up 20 cents, or 0.30%, at $67.52.

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The company will use net proceeds from the fresh issue towards repayment of debts, investing in subsidiary and for other working capital requirements.

The company will list its shares on September 16.

Asian markets trading higher on Thursday morning after the Wall Street ends on higher note.