India became the largest buyer of seaborne crude from the former Soviet Union, overtaking China for the fourth consecutive month, buying a record 51.15 million barrels, or 1.65 million barrels per day (mbd), from Russia. Reliance Industries (RIL) and the Rosneft-backed Nayara Energy were private refiners that accounted for over 858,000 barrels per day, or…
On Thursday, the government reduced the windfall tax on locally produced crude oil and diesel exports, boosting the intraday share prices of Reliance Industries and ONGC by more than 1.5%. Shares of Reliance Industries began trading at Rs. 2,571 before rising more than 1.5% to reach an intraday high of Rs. 2,618. ONGC reached a…
Reliance Industries subsidiary RSBVL and US-based Sanmina Corporation have concluded a contract to establish an electronics manufacturing joint venture worth around Rs 3,300 crore. Reliance Strategic Business Ventures Limited (RSBVL) will own 50.1 percent of the joint venture, while Sanmina will own 49.9 percent. This ownership will be obtained principally by an investment of up…
The Sensex was down 90 points at 52,682 and the Nifty was down 23 points at 15,845. The equity benchmark Sensex fell more than 90 points in early trade on Wednesday, signaling global signs ahead of the US Federal Reserve policy decision. The 30-share BSE index traded 90.5 points, or 0.17% lower, at 52,682.55 in…
Markets witnessed a volatile day of trading as benchmark indices recovered from their opening losses in the second half of trading. Bank Nifty cut the Nifty index by 1%, closed the previous one in red, and then closed the final ~ 0.5% higher. Reliance Industries was the top performer with 3%, while shares of Adani…
Markets saw a negative day of trading as board profit bookings weighed. Bank Nifty fell Nifty .1 0.1% and both indices closed in the red. Large-cap stocks such as Reliance, ICICI Bank, and SBI saw long positions unaware as profit bookings weighed. The Nifty Midcap 100 index closed 0.6% lower. The market width ended in…
Indices trade higher on elegant banking and metal stocks.The BSE Sensex is currently trading at 48,825.43, up 106.91 points, or 0.22%. The Nifty 50 is currently trading at 14,673.25, up 39.10 points or 0.27%. The Nifty Bank was up 1.35% at 32,903.80 and the Mid Cap Index was up 1.77%. SBI Life, UPL, Bajaj Accounting,…
The following is an estimate of India’s key formulaNSE’s move to change the method of calculation and declineIn the market last month. Nifty Earnings (PE)Rate is a popular valuation measure based on 12-month earningsIt fell nearly 20% to 33.5 from 41060 in March. The NSE decided to consider consolidated returns to calculate the PE ratiofrom…
