Market View 13th October 2022

Kirloskar Industries: SAT proceedings show that the tribunal dismissed appeal by the company against a SEBI order to pay a penalty of Rs 5 lakh for violating listing regulations.

PVR/Inox Leisures: PVR shareholders and secured creditors have approved the merger of the company with rival Inox Leisures.

InterGlobe Aviation: The airline will ‘wet lease’ up to four wide-body Boeing 777 aircraft on interim basis to cover the shortfall in its international operations, PTI reported.

Indian Oil Corporation/Bharat Petroleum Corporation: The Union Cabinet granted a relief package worth Rs 22,000 crore for state-run OMCs to offset the losses on account of rising LPG prices due to surging global oil prices.

Coal India/BHEL/IOCL/GAIL/NLC India: Coal India signed three separate MoUs with Bharat Heavy Electricals Ltd., Indian Oil Corporation Ltd. and GAIL (India) Ltd. to set up coal gasification projects, while NLC India Ltd. is signing a separate MoU with BHEL for the same, according to a government statement.

NTPC: Signed a MoU with Siemens for demonstrating hydrogen co-firing blended with natural gas in Faridabad gas power plant.

Adani Wilmar: Overall revenue is expected to see low single digit growth in the quarter ended Sept. 30, 2022, according to the company’s update. Food and FMCG vertical registered 40% growth on the back of pan-India edible oil business. Edible oil business registered higher volume growth in the masstige category. Industry Essential business also grew 20% during the quarter.

 Source: Moneycontrol, Bloomberg Quint, Investing

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