PSU banks extend losses, fall up to 5%,
BoB tanks 14%
Shares of PSU Banks were trading under
pressure in the afternoon session on Tuesday with all the components in the
red. The PSU Bank index fell 5% to 2,912 on the NSE on Tuesday as heavy selling
pressure was witnessed in Bank of Baroda, which fell over 14%, followed by
Indian Bank, Union Bank, Canara Bank, and Syndicate Bank.
Shares of Bank of Baroda slumped 14.5%,
while Dena Bank soared 20% and Vijaya Bank erased morning gains to fall 5%
after the government proposed merging the three lenders on Monday evening.
OPEC warns of threats to oil supply from
Iran, other producers
The Organization of Petroleum Exporting
Countries is concerned by threats to crude supply from large producers such as
Iran, the group’s top official said.
Unilateral US sanctions on oil sales by
Iran, OPEC’s third-biggest supplier, take effect on November 4. Iran’s crude
exports are already falling as the US prepares to curb Tehran’s ability to sell
oil and participate in global financial markets.
Iran is a “very important producer and
exporter” of oil, the group’s Secretary-General Mohammad Barkindo said at an
event in the United Arab Emirates city of Fujairah.
Gujarat Alkalies gains 7% on commission
of hydrogen peroxide plant
Shares of Gujarat Alkalies and Chemicals
were trading 7% up in the noon session on Tuesday amid commissioning of 14,000
MTPA Hydrogen Peroxide plant at Dahej.
With the commercial production of the
plant worth an estimated cost of Rs143.2cr, the total capacity of the Hydrogen
Peroxide Plants will be 54,400 tonnes per annum, the company said in a press
release on Monday to the exchanges after market hours.
L&T bags orders worth Rs2,048cr
Larsen and Toubro (L&T) has bagged
orders worth Rs2,048cr across two business segments, the company said in a
press release to the exchanges on Tuesday.
Under its power transmission and
distribution business, the company has received orders worth Rs1,633cr. The
major order is for a Main Plant Electrical Package of Units 3 and 4 of the
Kudankulam Nuclear Power Project.
Aurobindo Pharma gets South Africa
regulatory nod for fixed does triple combination tablets
Aurobindo Pharma has received approval
from the South African Health Products Regulatory Authority (SAHPRA) for its
Dolutegravir, Lamivudine and Tenofovir Disoproxil Fumarate (DLT) tablets,
50mg/300mg/300mg, the first-line preferred regimen for HIV patients as per
latest WHO guidelines.
Aurobindo is now among the first few
companies which has received approval for this product. This approval
demonstrates our commitment towards HIV patients and enables the company to
participate in South African HIV tender as well as launch in private market,
the company said.
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