News Overview

Season-to-date rainfall (since 1-Jan-24) is ~5% below normal. Reservoir levels are below last-year levels and 10yr average.

Additionally, the bank warned that any incoming NEFT transfers—including salaries and other payments—that were supposed to arrive on April 1 might potentially be delayed.

Export tractor sales in March 2024 amounted to 533 units, indicating a 24.3% decrease from the 704 units sold in March 2023.

RIL sells all of its gas through Brent and JKM linked prices, capped at HPHT; it has recently hiked the slope of its Brent-linked gas contracts from 8% to 12.67%, for which there is ~2% EPS upgrades for FY25/FY26ii. ONGC, OIL etc., see no impact; CGDs also remain unaffected.

A contract for the Mid Life Upgrade (MLU) of 25 Dornier aircraft and related equipment for the Indian Navy was signed by the Ministry of Defence and the business on March 15.

According to the ANI report, as of February 1, the price of Indane petrol cylinders varied depending on the major city, including Delhi, Kolkata, Mumbai, and Chennai, each with its own pricing.

The company primarily operates in the Nordic region, competing with firms such as AF Gruppen, Skanska, Peab, Per Aarsleff, Veidekke, and YIT.

The bank added that it is certain it has enough factual and legal justification to fairly defend its position on the matter in light of appellate authorities' precedents and decisions.

After increasing 2.4% the previous week, Brent crude dropped 17 cents, or 0.2%, to $86.83 per barrel.

The ban is lifted only if OI drops below 80%.