 "Top headlines: Hero Moto targets enhanced mkt share, market wrap and more")
M-cap of seven of 10 firms declines by Rs 80,200 cr; TCS biggest laggard
The combined market valuation of seven of the top 10 valued firms declined by Rs 80,200.24 crore last week amid a weak trend in equities, with Tata Consultancy Services and HDFC Bank emerging as the biggest laggards. In a holiday-shortened last week, the BSE benchmark fell by 373.99 points or 0.57 per cent. From the top 10 pack, Reliance Industries, Hindustan Unilever and Infosys were the gainers while Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, State Bank of India, Bharti Airtel and Bajaj Finance saw a decline in their valuation. Read more
Trends, trading activity of foreign investors to guide markets: Analysts
With the first quarter earnings season coming to an end, the domestic equity markets would be driven by global trends and trading activity of foreign investors this week, analysts said. The movement of global oil benchmark Brent crude and the rupee against the dollar would also drive trends in the market. "Macroeconomic indicators, trends in global stock markets and FII activities will be pivotal in shaping market trends in the coming days," Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said. Read more
ONGC Videsh secures 3-yr extension for Vietnam oil block in South China Sea
India's flagship overseas firm ONGC Videsh Ltd (OVL) has secured another three-year extension to explore oil and gas in a Vietnamese block in the contested waters of the South China Sea, the firm's parent ONGC said. This is the eighth extension for OVL, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC). The seventh extension to explore oil and gas was till June 15, 2023 and PTI on August 13 reported that the company was in talks with Vietnamese authorities for another three-year extension. Read more
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As winter looms, global diesel market is already pricing in a scarcity
At any other time in history, the current state of the global diesel market would have sent some countries into a panic. All over the world, prices for the fuel are sky-high relative to the crude oil from which it is made, pointing to a scarcity that should alarm inflation-obsessed governments everywhere. And within just a few months, the Northern Hemisphere will enter winter, pushing up demand for heating. Read more
With margins back to pre-Covid level, Hero Moto targets enhanced market share
With its margins back to pre-Covid levels, Hero MotoCorp is now looking at sustainable growth, enhancing market share across segments on the back of new product launches over the next few quarters, according to a top company executive. The country's largest two-wheeler maker is also looking at enhancing production capacity to roll out Harley-Davidson X440 which has already received over 25,000 bookings. Read more