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IndianOil s Board accords Stage-I approval for setting up first ever Styrene Project in India with a capex of Rs 4495 crore

IndianOil s Board accords Stage-I approval for setting up first ever Styrene Project in India with a capex of Rs 4495 crore
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Market drifts lower in early trade; breadth positive

Market drifts lower in early trade; breadth positive
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Auto stocks, Indian Oil Corporation, Union Bank of India in focus

Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for June starting from 1 July 2021. Indian Oil Corporation s board has accorded Stage - 1 approval for implementation of India s first ever Styrene Monomer Project with a capacity of 387 thousand metric tonnes per annum (TMTPA) at an estimated cost of Rs. 4,495 crore, at IndianOil s Panipat Refinery & Petrochemical Complex. Union Bank of India said the bank s board of directors approved capital plan of the bank to raise capital funds up to Rs 9,700 crore. Vodafone Idea reported a consolidated net loss of Rs 7,022.8 crore for the quarter ended March 31, 2021. It had posted a loss of Rs 11,643.50 crore in the corresponding quarter of the previous fiscal. Gross revenue stood at Rs 9,607.6 crore, down 18.26% against Rs 11,754.2 crore registered in the March 2020 quarter.

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