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IndiaTV Business: Google News Feed: Digest for September 02, 2023

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The Indian chemical industry is poised for growth and has the potential to become a $1 trillion market by 2040 with a CAGR of 8-10 per cent over 2021-40, according to a report by IDBI Capital. Amid increasing chemistry expertise, scale of products, and financial discipline with the government pushing for economic diversification, small-cap specialty chemical stock Vikas Ecotech has informed exchanges about its plan to raise funds to meet corporate needs.
The government has been taking measures to increase the share of manufacturing in India's GDP and boost the country's exports. Several reforms and schemes launched by the government over the years have unlocked economic development and improved the business environment.
Beating all the odds amid headwinds led by China's resurgence, macro challenges, and weak demand, small-cap recycling player Vikas Lifecare has announced plans to raise funds on a preferential basis. Based out of Delhi, Vikas Lifecare is a del-credere agent of the state-run Oil and Natural Gas Corporation (ONGC). It supplies a wide variety of base polymers and commodity raw materials to the public sector undertaking under the Ministry of Petroleum and Natural Gas.
The government has hiked ethanol price for second time within a fortnight to keep up with its target of achieving 20 per cent blending by 2025. At present, 10 per cent ethanol is blended into petrol, and the government is looking to double this.
Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
The government has been taking measures to increase the share of manufacturing in India's GDP and boost the country's exports. Several reforms and schemes launched by the government over the years have unlocked economic development and improved the business environment.
Beating all the odds amid headwinds led by China's resurgence, macro challenges, and weak demand, small-cap recycling player Vikas Lifecare has announced plans to raise funds on a preferential basis. Based out of Delhi, Vikas Lifecare is a del-credere agent of the state-run Oil and Natural Gas Corporation (ONGC). It supplies a wide variety of base polymers and commodity raw materials to the public sector undertaking under the Ministry of Petroleum and Natural Gas.
The government has hiked ethanol price for second time within a fortnight to keep up with its target of achieving 20 per cent blending by 2025. At present, 10 per cent ethanol is blended into petrol, and the government is looking to double this.
Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
Beating all the odds amid headwinds led by China's resurgence, macro challenges, and weak demand, small-cap recycling player Vikas Lifecare has announced plans to raise funds on a preferential basis. Based out of Delhi, Vikas Lifecare is a del-credere agent of the state-run Oil and Natural Gas Corporation (ONGC). It supplies a wide variety of base polymers and commodity raw materials to the public sector undertaking under the Ministry of Petroleum and Natural Gas.
The government has hiked ethanol price for second time within a fortnight to keep up with its target of achieving 20 per cent blending by 2025. At present, 10 per cent ethanol is blended into petrol, and the government is looking to double this.
Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The government has hiked ethanol price for second time within a fortnight to keep up with its target of achieving 20 per cent blending by 2025. At present, 10 per cent ethanol is blended into petrol, and the government is looking to double this.
Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
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