ONGC announces Capex of Rs. 2150 crore for oil exploration in India

The Markets Today in a nutshell

• Domestic benchmark indices ended almost flat on Monday.
• Negative global cues and foreign capital outflows dampened investor sentiment. Investors were cautious ahead of the U.S. Federal Reserve meeting later this week. IT, pharma and consumer durables stocks declined. On the other hand, PSU banks and oil & gas stocks advanced.

Capital Flows

News you could use

? Dalmia Cements share price on acquisition of Jaiprakash Associates Limited
Dalmia Cement (Bharat) Limited (DCBL), the wholly-owned subsidiary of Dalmia Bharat Limited entered into a binding Framework Agreement for the acquisition of the Cement, Clinker and Power Plants from Jaiprakash Associates Limited having a total cement capacity of 9.4 MnT.

? Honeywell Automation share price jumped as foreign brokerage maintains ‘buy’ rating
Nomura kept a ‘buy’ on the stock and raised the target to Rs 50,642 per share. It is the preferred pick for India’s digitalization. Execution and margin to pick up as services/exports recover. Expect a turnaround in H2FY23 continuing into FY24. The brokerage firm believes valuations are at reasonable levels as compared to peers.

? ONGC announces Capex of Rs. 2150 crore for oil exploration in India
Oil and Natural Gas Corporation Ltd proposes to drill 53 exploratory wells in Andhra Pradesh- 50 in the Godavari on-Land PML (Petroleum Mining Lease) Block of KG Basin and three in CD-ONHP-2020/1 (OALP-Vi) Block Of Cuddapah basin with an investment outlay of Rs 2,150 crore.

News from the IPO world?

• Tata Group may be quietly preparing for another IPO
• Abans Holdings IPO subscribed 11% so far on Day 1
• Uniparts India shares list at discount to IPO price

Numbers? that matter