DSIJ Mindshare

Indian equities markets are closed on Wednesday on occasion of Eid al-Fitr. The benchmark indices BSE Sensex closed at 40,083.54 on Tuesday, comfortably maintaining the 40,000 level anticipating a 25 basis point interest rate cut from RBI.

Bharat Forge has subscribed to 1,895 equity shares of Rs. 10 each at a premium of Rs. 21,103 per equity share of Tork Motor.

IOCL, BPCL and HPCL have signed an agreement to form a joint venture company to implement and operate a 2,747 Km long LPG Pipeline from Kandla in Gujarat to Gorakhpur in Uttar Pradesh. As per the agreement, IndianOil, BPCL and HPCL will have 50 per cent, 25 per cent and 25 per cent equity holding in the company, respectively.

GE Power India Limited has received a contract worth Rs. 738.3 crore from Aravali Power Company Private Limited. It includes design, engineering, supply, civil work, erection and commissioning of WET FGD (Fuel Gas Desulphurization) systems along with auxiliaries like Limestone and Gypsum Handling System and Wet Stack on full turnkey basis.

As automakers reported their sales figures for the month of May, the Nifty Auto index increased by 1.87 per cent despite a weak performance by many companies. In general, the sales figures for May was at a 5-month low.