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Indian Oil said to mull investing $3.5 billion to expand, upgrade refineries

5h livemint
Mumbai: India’s biggest oil refiner Indian Oil Corp. is planning to invest as much as $3.5 billion in the year beginning 1 April, or about a fifth more than the previous year, to expand and upgrade its refineries and boost its marketing network, according to people with knowledge of the matter. (3-0)

Market Update: Broader indices stay in green as RIL, ONGC gain 1-2%; Indiabulls Ventures spikes 17%

6h moneycontrol
The Indian markets on Thursday morning were trading on a positive note after the US Fed raised its interest rate by 25 basis points. The Nifty added 35 points or 0.35 percent while the Sensex was up 127 points. (27-0)

Sona Koya Steering: Offer-for-sale is on

2018-03-19 thehindubusinessline
The offer-for-sale from JTEKT Corporation, promoter of Sona Koyo Steering Systems, opened for subscription to institutional investors on Monday. The promoter plans to sell 47.56 lakh shares, representing 2.39 per cent of the total paid-up equity share capital of the company, and fixed the floor price at ₹102 a share. The institutional portion received bids for just 27.74 per cent. The issue opens on Tuesday for retail investors and non-institutional investors can modify their order. (3-0)

Igarashi Motors: Open offer opens today

2018-03-19 thehindubusinessline
The open offer from Igarashi Motors will open for subscription on Tuesday and close on April 4. P Mukund along with Agile Electric Sub Assembly Private Ltd and Igarashi Motors Sales Private Ltd (promoter and promoter group) plans to acquire up to 79.58 lakh shares, representing 26 per cent of the fully diluted voting share capital of the company, at ₹809.96. Currently, promoters hold 75 per cent stake in the company. (3-0)

India Value Fund sells 1.8 % stake in TD Power

2018-03-19 thehindubusinessline
India Value Fund IV on Monday sold a little over six lakh shares or 1.8 per cent stake in TD Power Systems, according to bulk deals on the stock exchanges. The fund sold 2.52 lakh shares on the NSE at an average price of ₹201.05 a share and 3.48 lakh shares on the BSE at ₹201.01. As of December 31, India Value Fund held 3.67 per cent stake in TD Power Systems. The identity of the buyer(s) was not known immediately. (3-0)

Company news: Karuturi Global

2018-03-19 thehindubusinessline
Karuturi Global on Monday said Singapore-based Phoenix Group has invested in the company, and that this investment will it help repay debt and revive its Kenya operations. However, the exporter of cut roses did not disclose the amount of investment. The investment will help the firm repay its debts as obligated by the High Court of Kenya within a week or less, Karuturi Global CEO Ram Karuturi said in a BSE filing. (3-0)

Broker's call: Supreme Ind (Buy)

2018-03-19 thehindubusinessline
Higher polymer prices emanating from higher crude oil prices to shut down of several Chinese polluting polymer plants is expected to keep global polymer prices high for some time. (3-0)

Company news: IRB Infrastructure Developers

2018-03-19 thehindubusinessline
IRB Infrastructure Developers on Monday informed the exchanges that it has won a road project worth ₹2,043 crore in Gujarat from the National Highways Authority of India. The order is for construction of the eight-lane Vadodara Kim expressway from 355 km to 378.74 km in Gujarat. With addition of these projects, the company’s construction order book now stands at approximately ₹12,000 crore to be executed in three years, the company added. (3-0)

Stocks on longest slide since Nov as Fed caution hits

2018-03-19 thehindubusinessline
Shares were stuck on their worst run since November on Monday, as caution gripped traders in a week in which the Federal Reserve is likely to raise US interest rates and perhaps signal as many as three more hikes lie in store this year. A near 1 per cent drop for Europe's main bourses amid a flurry of gloomy company news and weaker Wall Street futures meant MSCI's main 47-country world stocks index was down for a fifth day running. (3-0)

Bandhan Bank IPO oversubscibed 14.56 times

2018-03-19 thehindubusinessline
The initial public offer (IPO) of Bandhan Bank was oversubscribed 14.56 times, eliciting good response from QIP and HNI investors, a top official of the bank said. (3-0)

Lemon Tree Hotels to raise Rs 1,040 cr via IPO

2018-03-19 thehindubusinessline
Hospitality chain Lemon Tree Hotels today said it has fixed price band between Rs 54 and Rs 56 per equity share for its initial public offer to raise around Rs 1,040 crore. (3-0)

Saudi Aramco eyes a majority stake in proposed Ratnagiri refinery: Report

2018-03-19 moneycontrol
Saudi Aramco, the world's largest oil company, is seeking a majority stake in the proposed Rs 3 lakh crore oil refinery at Ratnagiri in Maharashtra, according to a report by The Economic Times. (4-0)

Private fuel retailers double petrol, diesel market share

2018-03-19 moneycontrol
Private fuel retailers like Rosneft-owned Essar Oil and Reliance Industries have doubled their market share in last three years, capturing close to 7 per cent of petrol sales and over 8 per cent of diesel sales. (6-0)

Now get fuel at your doorstep - Indian Oil starts home delivery of Diesel in India

2018-03-19 moneycontrol
Indian Oil Corporation, the country’s largest petroleum company, has announced first-of-its-kind home delivery of diesel in India. The service will start from Pune, Maharashtra, followed by other cities as well. (3-0)

Bandhan Bank IPO subscribed 1.49 times so far on Day 3

2018-03-19 thehindubusinessline
The initial public offer of Bandhan Bank was subscribed 1.49 times so far on the last day of bidding today. The IPO, to raise Rs 4,473 crore, received 12,45,42,960 shares of bids against the total issue size of 8,34,96,347 shares, data available with NSE till 12.30 pm showed. (3-0)