RIL permanently shuts down only oil
field in KG-D6 block
Reliance Industries (RIL) has shut down
its only oil field in the KG-D6 block after production declined to naught, the
company announced in a BSE filing on Friday. It said that the field
cumulatively produced about 0.53 TCF of gas and 31.4mn barrel of oil and
condensate and had no remaining reserves.
For Q1FY19, the field contributed less
than 0.1% in terms of revenue to RIL on a consolidated level.
RIL has reportedly made 19 discoveries in
the Krishna Godavari (KG) basin. Of these, the Dhirubhai 26 (D26) oil, gas, and
condensate deepwater discovery was made in 2006. The discovery was developed
and put on production in September 2008.
Sun Pharma gets Australian TGA approval
of ILUMYA
Sun Pharmaceutical Industries has received
the Australian Therapeutic Goods Administration (TGA) approval for its
speciality product, ILUMYA (tildrakizumab) for the treatment of adults with
moderate-to-severe plaque psoriasis who are candidates for systemic therapy.
“We are pleased to have received this
approval and look forward to bringing ILUMYATM to dermatologists and patients
in Australia,” said Hellen De Kloet, Business Head, Western Europe &
Australia, Sun Pharma.
DHFL stock tanks over 55% intraday on
default rumor
The stock price of Dewan Housing Finance
Company has declined by more than 40% today. As per the media reports, DSP MF
was forced to sell commercial papers of DHFL in the secondary market, as they
didn’t find immediate buyers, they sold at a higher yield. The Management of
DHFL has clarified that they have not defaulted on any bonds and further also
said that their commercial book stands at ~7,500cr. Further, they have
clarified that they have no exposure to IL&FS group.
Yes Bank stock plunges 18% as RBI cuts
CEO Rana Kapoor's tenure
Shares of Yes Bank tanked 23% on the NSE
in the morning trade after Reserve Bank of India cut the tenor of Rana Kapoor,
a promoter, chief executive and managing director, till January 31, 2019.
According to the lender's filing with the
BSE, the Indian banking regulator, Reserve Bank of India (RBI) has extended
Kapoor's tenure only until January 31, 2019, as opposed to another three-year
term that the bank’s board had requested. RBI has directed the private sector
lender to search for a successor in the interim.
NSE gets SEBI approval to launch
Commodity Derivatives Segment
National Stock Exchange of India Ltd
(NSE), India’s leading stock exchange, today received SEBI’s approval to launch
Commodity Derivatives Segment.
NSE will launch its Commodity Derivatives
segment on October 1, 2018. NSE has plans to launch derivatives trading in
non-agriculture commodities in the initial phase, followed by agriculture
commodities, subject to SEBI approval. This would achieve integration of
trading in commodity derivatives market with other segments of the securities
market at the Exchange level.
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