News Overview

On April 22, VI will end its follow-on public offer (FPO) of ₹18,000 Crore. The issue was subscribed to 49% by the second day of bidding.

The week saw the oil & gas index closing 33 bps lower as the windfall tax only had a limited impact on the sector. Indian oil companies in the upstream segment gain from higher oil prices as it boosts realization per barrel, improves GRMs and leads to inventory translation at higher levels. There are concerns over oil price volatility in the Brent markets but what should favour oil stocks is that oil prices look all set to remain robust for some time now. The oil prices are not expected to pose a problem as the OPEC is likely to boost supplies of crude oil at higher levels.

Being a PA enables companies to facilitate and transfer customers' funds to merchants. However, this approval is not the final authorization or license, which is anticipated to be granted within six to twelve months

Jio Financial Services announced a 50:50 joint venture with US-based BlackRock for wealth management and broking in India on April 15.

HZL's revenue from operations in the reporting quarter stood at ₹7,285 Crore, reflecting a 12% decrease from ₹8,281 Crore recorded a year ago.

Following his retirement, Ghosh will assume a strategic role at the group holding company level, advising the group's business verticals, which includes insurance and mutual fund subsidiaries

PSA MESA is a wholly-owned subsidiary of PSA International, a global port operator, offering integrated and port-centric supply chain, transportation, and logistics solutions through its supply chain business arm, PSA BDP.

According to BSE data, 617.46 crore of the 1,260 crore shares that were offered were subscribed for on Friday.

Intractable food prices and the worsening situation in the Middle East remain key concerns for the MPC.

By the end of the day, many heavyweight sectoral indices had managed to recover their losses.