Brent for October settlement reached a three-week high, trading up $1.30, or 1.3%, at $101.52 a barrel by 0850 GMT. U.S. crude was up $1.18, or 1.3%, at $94.92 a barrel.Contracts for both crudes soared on Tuesday after Energy Minister Prince Abdulaziz bin Salman flagged the possibility of cutting production amid poor futures market liquidity and macro-economic fears.
"The current proceeds of preferential shares and warrants would be utilised to fund our long-term capital requirements and to enhance the working capital needs," Parag Milk Foods chairman Devendra Shah said.This will aid in further strengthening the company's balance sheet and drive the company for accelerated growth ahead, he said.
According to a report from ET Now, Reliance's AGM can be a mixed bag for investors as Chairman Mukesh Ambani is unlikely to spill the beans on demerger plans.The company is likely to remain tight-lipped on the demerger of its businesses but may share details over the succession plan, roles of next-generation Ambanis and 5G rollout at its AGM.\
According to a report from ET Now, Reliance's AGM can be a mixed bag for investors as Chairman Mukesh Ambani is unlikely to spill the beans on demerger plans.The company is likely to remain tight-lipped on the demerger of its businesses but may share details over the succession plan, roles of next-generation Ambanis and 5G rollout at its AGM.\
Avinash Gorakshakar, Head-Research at Profitmart Securities, said since the open offer is at a discount to the prevailing market price, it doesn't look attractive, and it is therefore likely that going ahead, the open offer price could be hiked."For NDTV shareholders, this Adani deal and taking management control would be positive in the long term
The domestic brokerage listed 13 stocks to play the multi-year theme. Financials - ICICI Bank and Axis Bank, capital goods/infra - L&T, Siemens, Cummins, and GR Infra and capacity expansion-led volume growth - UltraTech, Dalmia Bharat, Navin Fluorine, Aarti Industries, NTPC, Phoenix Mills, and Havells India.
Fitch also expects OMCs to incur large marketing losses in FY23 with continuing negative marketing margins as we expect crude oil prices to remain elevated until geopolitical tensions ease while rising inflationary pressure would prevent the OMCs from increasing fuel prices in the near term.