Higher discounts on Russian oil this month may help Indian refiners reduce crude sourcing costs and trim fuel marketing losses even as Brent crude crosses $95/barrel, weakening the country's finances

oil refinery, crude oil, oil

Not thinking about an IPO as of now, says chairman

Dr Krishna Ella

The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities.
Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
Equity markets were closed on Tuesday on account of Ganesh Chaturthi.
From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers.
The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week.
The valuation of Reliance Industries plunged Rs 71,715.6 crore to Rs 15,92,661.42 crore. The company's shares declined over 4 per cent past week.
ICICI Bank's valuation dropped Rs 29,41

HDFC Bank

The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts.
The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The Reserve Bank Governor-headed six-member Monetary Policy Committee (MPC) meeting is scheduled for October 4-6, 2023. The last meeting of the MPC, the highest rating-setting panel, was in August.
"We do expect the RBI to hold on to a status quo position this time as inflation is still high and liquidity tight. In fact, going by RBI forecast on inflation, it would be above 5 per cent in Q3 too

RBI, Reserve Bank of India

NABARD to issue social sector bonds on Tuesday

Bonds, Govt bond

India's addition to a major global gauge will give global investors greater access to the world's fastest-growing large economy that offers some of the highest returns in the region

JPMorgan Chase & Co

Ties between Canada and India are at their lowest point in decades after Prime Minister Justin Trudeau accused the Indian government of orchestrating the assassination of Hardeep Singh Nijjar

Visa, Visa services, travellers

India has called for a globally coordinated approach to crypto rules with the help of institutions such as the International Monetary Fund

WazirX

US-China tensions are so fraught, even the world's richest are struggling to bring the two sides together.

us china

The US on Thursday said it supports Canada's efforts to investigate allegations of India's involvement in the killing of a Sikh separatist leader in Surrey, observing that no country can get any "special exemption" for such kind of activities.
Hardeep Singh Nijjar, 45, the chief of the banned Khalistan Tiger Force (KTF) and one of India's most-wanted terrorists who carried a cash reward of Rs 10 lakh on his head, was shot dead by two unidentified gunmen outside a gurdwara in Surrey in the western Canadian province of British Columbia on June 18.
Canadian Prime Minister Trudeau on Monday alleged the involvement of "agents of the Indian government" in the killing. New Delhi outrightly rejected the claims as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
As soon as we heard from the Canadian Prime Minister publicly about the allegations, we went out publicly ourselves and expressed our de

US National Security Advisor Jake Sullivan

Prime Minister Narendra Modi on Sunday lauded athletes who won medals in various events at the ongoing Asian Games in Hangzhou.
He praised the Lightweight Men's Double Sculls team for winning the first medal at the Asian Games for India, a silver.
"Congratulating the incredible duo Arjun Lal Jat and Arvind Singh, the prime minister wished for continuous rowing towards glory, representing the spirit and strength of the nation," a statement issued by the Prime Minister's Office said.
He also hailed shooters Ramita Jindal, Mehuli Ghosh and Ashi Chouksey for securing silver medal in the 10m Air Rifle Women's team event at the Asian Games, it said.
Applauding the feat, the prime minister said that "this silver medal is the fruit of your hardwork and dedication". "Let's keep the up momentum as we continue to shine at the Asian Games," he said.
On the Men's Coxed Eight team winning the silver medal at the Asian Games, the prime minister praised the dazzling display of coordination, power

PM Modi addresses media on the first day of the special session of Parliament, in New Delhi, Monday, Sept. 18, 2023. (PTI Photo/Manvender Vashist Lav)

However, the All India United Democratic Front (AIUDF) has claimed that the ruling Bharatiya Janata Party (BJP) will not register a victory on more than 7 out of 14 Lok Sabha seats in Assam this time

Poll, election, lok sabha

Jindal Hunting Energy Services Ltd (JHESL) is looking to export oil country tubular goods from its plant located at Nashik in Maharashtra.
Piping products used in oil and gas production are referred as oil country tubular goods (OCTG).
JHESL is a 51:49 per cent joint venture (JV) company between US-based Hunting Energy Services and domestic pipes maker Jindal SAW.
On September 18, the JV inaugurated a plant with an annual capacity of 70,000 metric tonnes, which has been set up at a cost of USD 25 million to manufacture and supply pipes and tubes with premium connections to OCTG market in oil and gas sector.
JHESL will first cater to the domestic market and continue to explore markets like Middle East and Africa, Neeraj Kumar, Group Chief Executive Officer and Whole-Time Director, Jindal SAW Ltd, told PTI in an interaction.
When asked about the timeline for the exports, Kumar said there are certain approvals that need to be received for supplying OCTG.
JHESL already has approvals 

Oil refinery

Fiscally, Chinese governments at various levels are under stress, he told the annual Bund Summit conference

A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing

The mounting Chinese military presence in waters that were long dominated by the US fleet is sharpening the possibility of a showdown between superpowers

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PM Modi lauds medal winners at the ongoing Asian Games in Hangzhou

BJP cannot win more than 7 Lok Sabha seats in Assam this time: AIUDF

Jindal SAW-Hunting Energy JV eyes M East, Africa to supply OCTG from India

China central-bank adviser proposes structural reforms to revive economy

Bullhorns and water cannons: China ships wall off South China Sea

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