India OMCs: The government has halved the equity infusion in state-owned fuel retailers to Rs 15,000 crore for supporting their investments in energy transition projects. While other state-owned oil companies have lined up investments to achieve net zero carbon emissions, the equity support was limited to the three fuel retailers
The government has halved the equity infusion in state-owned fuel retailers to Rs 15,000 crore for supporting their investments in energy transition projects. While other state-owned oil companies have lined up investments to achieve net zero carbon emissions, the equity support was limited to the three fuel retailers
Both the banks are meeting prospective lenders in a bid to distribute the loan to a wider network of banks across Asia, people familiar with the transaction said. "This is a five-year loan raised at about 125 basis points above the corresponding benchmark secured overnight financing rate (SOFR) and is likely to be syndicated to other lenders in the region by next month," one of them said.
ONGC Ltd, an oil & gas stock, has rallied by over 20% in the last 3 months, hitting a fresh 52-week high in January 2024. Short-term traders can buy the stock for a target of Rs 295 in the next 3 months. The stock rose from Rs 186 to Rs 239, a 26% upside in 3 months. It broke out from a multi-year swing high and closed above the Bollinger band on the monthly charts. Investors may consider initiating a position with a target of 295 and a stop loss at 190.