Motilal Oswal Financial Services said shares of oil marketing companies (OMCs) are attractively placed, though the industry’s marketing margins have weakened due to geopolitical headwinds, ongoing refining capacity maintenance, and elevated freight rates for product transportation. The brokerage said HPCL, BPCL, and IOCL have declined since mid-Feb as the gross marketing margins on petrol.
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Speciality chemicals company Kronox Lab Sciences has received Sebi's go ahead to raise funds through an initial public offering (IPO), an update with the capital markets regulator showed on Thursday. The proposed offer comprises an offer-for-sale (OFS) of 96 lakh equity shares by promoters -- Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani. The offer represents up to 26 percent of the paidup
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Foreign institutional investors (FIIs) in Indian markets seem to have pressed the panic button. By Thursday's market close, they had raised cumulative net bearish bets on Nifty and Bank Nifty futures by a whopping 71,095 contracts overnight to 107,486 contracts, indicating heightened caution amid rising tensions in the West Asia and the recent amendment to the India-Mauritius tax treaty.
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