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Stocks To Watch: PTC India, SpiceJet, IndiGo, ITII And More!
- Government cuts excise duty on aviation turbine fuel to 11 percent from 14 percent. Cut in excise duty to benefit listed airline companies in following pecking order: InterGlobe Aviation > SpiceJet > Jet Airways
- PTC India signed a fresh pact for supplying 200 MW power to Bangladesh for 15 years. The company was already supplying 290 MW power to Bangladesh. The transaction is expected to give export earnings of $1.8 billion over its contract period.
- ITI received purchase order worth Rs 334 crore for executing RajNet Project from Rajasthan government to setup 40,000 outdoor Wi-Fi access points.
- Cochin Shipyard to consider approval for share buy-back on Oct. 16.
- Indiabulls Integrated Services’ reorganisation committee recommended the board for demerger of the company’s non-financial business segment to SORIL Infra Resources.
- Soril Infra Resources’ reorganisation committee recommended the board for acquiring the ongoing business operations and undertaking of Indiabulls Group’s pharma arm.
- IDBI Bank appointed Rakesh Sharma as its MD and CEO for six months from Oct. 10 or any until further orders, whichever is earlier.
- Dilip Buildcon has been declared L1 bidder for EPC project worth Rs 1,000 crore by Mahanadi Coalfield for removal of over-burden mining project in Odisha.
- GE Power India to close its factory at Shahabad with effect from Oct. 11. Earlier the company reported that its Vadodara plant was shut from Aug. 27. The management said that it was exploring various options to dispose of the land and building, including machinery and equipment related to these factories.
- Oil India made two hydrocarbon discoveries in Assam in the second quarter of this financial year.
Talking Points: IndiGo’s Déjà Vu Moment, ATF Relief, BQ Explains SBI’s NBFC Loan Purchase
- How to think about the market sell-off
- IL&FS needs Rs 100 crore every month to stay afloat, says official
- India’s most profitable carrier is having a déjà vu moment
- Supreme Court asks government for details on Rafale deal
- An oversold Indian market may not suggest upside just yet
- Why two-wheeler dealers expect a subdued festival season
- Older generation of leaders move on at India’s private banks
- Does SBI’s purchase of NBFC loans make business sense?
- Government cuts excise duty on aviation turbine fuel to 11%
- Has the Supreme Court curtailed the ability of bidders to litigate?
SGX Nifty Down 2% As Stock Rout Rolls Through Asia After U.S. Carnage
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India plunged 2.2 percent or 230 points to 10,249 as of 7:12 a.m.
Stocks in Asia tumbled after a rout in U.S. equities that deepened late in the day amid concerns the trade war is heating up as financial conditions tighten, dampening the outlook for profits. The yen advanced and Treasuries held gains.
Japan’s Topix index plunged more than 3 percent, set for the biggest drop since March, with Hong Kong stocks also seen lower. Shares in Australia and South Korea slid. The S&P 500 Index fell the most since February and the Nasdaq 100 Index tumbled more than 4 percent for its worst day in seven years as equity volatility spiked.
- The yen gained 0.2 percent to 112.10 per dollar after gaining 0.6 percent.
- The offshore yuan traded at 6.9319 per dollar.
- The Bloomberg Dollar Spot Index fell 0.1 percent.
- The euro bought $1.1540.
- West Texas Intermediate crude added to a 2.4 percent slide, falling 0.8 percent to $72.58 a barrel.
- Gold was little changed at $1,194.41 an ounce.
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