#OnCNBCTV18 | There are a few stocks which have not seen a massive fall. There are fears of reduction in spending if recession hits. Don’t expect decline in PBT for steel companies, but their EBITDA might come down, says Sunil Singhania of Abakkus Asset Management pic.twitter.com/9R78IrdqWP
— CNBC-TV18 (@CNBCTV18Live) July 4, 2022
Windfall Tax | Oil marketing companies may bargain with refiners, says Revenue Secretary Tarun Bajaj
The quantum of duties will be reviewed every 15 days to see how the international prices have moved, based on which action will be taken
Market update at 11 AM: Sensex is up 8.06 points or 0.02% at 52915.99, and the Nifty shed 17.30 points or 0.11% at 15734.70.
JPMorgan gives ONGC the thumbs down as shares fall further after tax raid
The government on Friday surprised investors after imposing a $240 per tonne special additional excise duty on crude oil production in the country
Ashoka Buildcon JV emerges lowest bidder for project of Rs 611 croreAshoka Buildcon in joint venture with Cube Construction Engineering emerged as “the Lowest Bidder” for the project viz. ‘Request for Proposal for Selection of Agency for Construction and Maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur’ by Department of Information Technology & Communication, Govt. of RajasthanThe awarded bid project cost for the project is Rs 611 crore. The share of the company in JV is 65%.
BSE Oil & Gas index slipped 0.7 percent dragged by the ONGC, HPCL, BPCL, IOC
Jefferies View on Metals Stocks.
Research house Jefferies has cut FY23-24 EPS estimates for JSW, Hindalco and Tata Steel by 2-34 percent.
It’s still early to turn constructive as PB valuations remain above the historical troughs.
The earnings visibility is poor, while consensus downgrades will continue.
Jefferies retain hold on Tata Steel, Hindalco & remained underperform on JSW Steel, reported CNBC-TV18.
Hindalco Industries was quoting at Rs 327.50, down Rs 13.75, or 4.03 percent, Tata Steel was quoting at Rs 845.15, down Rs 28.15, or 3.22 percent and Tata Steel was quoting at Rs 845.15, down Rs 28.15, or 3.22 percent on the BSE.
Endurance Technologies acquires 51% stake in Maxwell Energy Systems
Endurance Technologies has acquired 51% of the equity share capital of Maxwell Energy Systems on 1st July, 2022, through a combination of primary issuance and secondary purchase, company said.
Balance 49% stake shall be purchased in a phased manner in five tranches, spread over the next five financial years, it added.
The aggregate cost of acquisition is Rs 1350 million.
Endurance Technologies was quoting at Rs 1,423.85, up Rs 11.80, or 0.84 percent on the BSE.
Stock market bears have it all in their favour in July except history
Bears have wind in their sails as they look to profit from continued decline in the Nifty 50 but history may have some say if they will succeed in July