DSIJ Mindshare

Becoming the fourth PSU in line to get listed in 2018, defence PSU Bharat Dynamics filed its draft red herring prospectus with market regulator SEBI to roll out its initial public offer on Tuesday.

Robust performance from metal majors uplifted the benchmark indices to close at all-time high with nearly a per cent gain from the previous close. Nifty Metal index rose as much as 4 per cent majorly driven by 5.2 per cent gains in Vedanta.

For funding the Rs. 36,915 crore HPCL deal, ONGC has received government approval to sell stakes in IOC and GAIL. Given the levels that the benchmark indices are trading these days, it is fair to assume that government wants to expedite the 51.11 per cent stake sale of HPCL to ONGC.

India’s largest commercial enterprise Indian Oil surged by over 4 per cent on the bourses on Tuesday as the company announced that its board is likely to consider issuance of bonus shares in its upcoming board meeting on January 30, 2018.

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