Reliance Industries Ltd. is working with six banks, including BofA Securities and Goldman Sachs Group, on the planned IPO of its telecom unit, Jio Platforms Ltd.. The offering could be India’s largest, raising over $4 billion following recent government listing approvals.
India has mandated 20% ethanol in petrol from April 2026, a significant policy acceleration. The nation boasts surplus production capacity, offering a strategic energy buffer amidst global oil price volatility. This move bolsters farmer incomes and reduces foreign exchange outgo, with the industry now eyeing further expansion into aviation fuel and cooking gas.
The Indian rupee was pinned near its all-time low on Monday, averting losses largely on the back of likely central bank intervention, via state-run banks, as hostilities in the Gulf kept oil prices elevated.
Gold prices dipped on Monday, pressured by concerns that surging oil costs could stoke inflation further and prompt a more hawkish policy stance by major central banks including the U.S. Federal Reserve, dulling the appeal of the non-yielding asset.
GSP Crop Science’s Rs 400 crore IPO opened for subscription and was subscribed 45% on Day 1. Qualified institutional buyers showed the strongest demand while retail participation remained subdued. The issue is priced between Rs 304 and Rs 320 per share and will remain open for bidding until March 18.
REC Limited announced a fourth interim dividend of Rs 3.20 per share, with the record date set for March 20. The dividend will be paid on or before April 14. This marks the company’s 45th dividend since 2008, with a 12-month equity payout of Rs 20 per share.
Gold prices fell sharply on MCX, dropping Rs 3,000 per 10 gram as investors turned cautious ahead of the US Federal Reserve policy meeting. Profit booking in global markets, rising oil prices and persistent geopolitical tensions in West Asia are keeping bullion volatile, prompting analysts to recommend a sell-on-rise trading strategy.
Sebi has cleared three companies, including Travelstack Tech backed by Anupam Mittal, to launch their IPOs. Tea Post and Learnfluence Education also received approval. Meanwhile, three companies have withdrawn their public issue plans, highlighting mixed sentiment in India’s primary market amid volatile equity market conditions.
Australian shares declined as weaker commodity prices impacted miners amid investor caution ahead of a potential central bank rate hike and ongoing Middle East tensions. The S&P/ASX 200 index closed lower, with financial stocks showing gains. Miners experienced significant drops, while energy stocks saw a rise.
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