Name: Govt extends deadline for BPCL bids due to Covid-19
Uploaded: 2020-05-28T03:36:46.fff+05:30
Duration: T00M27S
Channel: editorji
Description: The government has extended the time for interested parties to submit their bids for BPCL by two months due to the Covid-19 pandemic. Bidders now have to submit their 'expression of interest' by July 31. The government had in March invited bids to sell its 53% stake in BPCL, the country's second-largest oil retailer, as part of the efforts to speed up the privatisation process.

The government has extended the time for interested parties to submit their bids for BPCL by two months due to the Covid-19 pandemic. Bidders now have to submit their '

Govt extends deadline for BPCL bids due to Covid-19

The government has extended the time for interested parties to submit their bids for BPCL&nbsp;by two months due to the Covid-19 pandemic. Bidders now have to submit their 'expression of interest' by July 31. The government had in March invited bids to sell its 53% stake in BPCL, the country's second-largest oil retailer, as part of the efforts to speed up the privatisation process.&nbsp;

The government has extended the time for interested parties to submit their bids for BPCL by two months due to the Covid-19 pandemic. Bidders now have to submit their 'expression of interest' by July 31. The government had in March invited bids to sell its 53% stake in BPCL, the country's second-largest oil retailer, as part of the efforts to speed up the privatisation process.

Wall Street had a terrific Thursday with Dow closing above the 34,000 mark and S&P 500 soaring to a record high as falling yields boosted bets on tech stocks.

Wall Street had a terrific Thursday with Dow closing above the 34,000 mark and S&amp;P 500 soaring to a record high as falling yields boosted bets on tech stocks.&nbsp;
Tech backed Nasdaq Composite closed&nbsp;above 14,000 for the first time since Feb. 16 as&nbsp;benchmark 10-year Treasury yield slipped below 1.6% for the first time since March 25.
Economic data continues to be supportive with&nbsp;U.S. jobless claims dropping to the lowest level since March 2020 and retail sales jumping 9.8%&nbsp;in March beating estimates.&nbsp;
The S&amp;P 500 has gained 1% this week, on pace for its fourth straight positive week.&nbsp;

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-: Broke

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-:
<ul>
<li>Brokerages expect&nbsp;to see revenue growth between 1.4-3.6% (QoQ) in Q4 driven by strong demand environment.</li>
<li>Large wage hikes across the board by companies in March will keep margins flat</li>
<li>TCS will likely to lead growth with steady margins, Infosys and HCL Tech are likely to see sharp margin contraction</li>
<li>Demand outlook looks firm as&nbsp;deal activity stays close to all-time high for a second straight quarter</li>
<li>ISG index that tracks global tech deals &nbsp;now expects 5% YoY growth in average revenue per contract&nbsp;in 2021 vs 3% earlier and also indicated 4-7 mega deals, that are still in works.</li>
</ul>
Alert: TCS reports Earnings on April 12, Infosys April 14

After 8 months of outflows the curse on equity mutual funds seemed to have been lifted. Equity-oriented schemes in March have reported net inflows of Rs 9,115 cr.

After 8 months of outflows the curse on equity mutual funds seemed to have been lifted.&nbsp;Equity-oriented schemes in March have reported net inflows of Rs 9,115 cr.
As per AMFI&nbsp;data&nbsp;Gross redemptions in March came in much lower at Rs 18,908 crore for equity schemes vs Rs 30,000 cr in previous months. Investment in SIP also saw a big boost of inflow of Rs 9,100 cr.&nbsp; Debt-oriented schemes however saw net outflows of over Rs 52,000 cr.
&nbsp;

From jobs data to service sector growth all the economic indicators pointed to a solid recovery leading Wall Street to a record high closing. The 30 stock Dow Jo

From jobs data to service sector growth all the economic indicators pointed to a solid recovery leading Wall Street to a record high closing.&nbsp;
The 30 stock Dow Jones Industrial Average rose over 370 points to a record closing high. The S&amp;P 500 gained 1.4% also hitting a new record close. The tech-heavy Nasdaq Composite also climbed 1.7% &nbsp;.
Non-farm payrolls rose to the highest level since August 2020,&nbsp;unemployment&nbsp;level fell to 6% and&nbsp;services industry activity&nbsp;soared&nbsp;to a record high.&nbsp;

In a big push for cryptocurrencies, Coinbase the largest US exchange for the digital tokens is set for a direct listing on April 14 after getting a nod for US

In a big push for cryptocurrencies,&nbsp;Coinbase&nbsp;the largest US exchange for the digital tokens is set for a direct listing on April 14 after getting a nod for US market regulator SEC. Coinbase will be the Nasdaq&rsquo;s first major direct listing, in a direct listing, the issuing company forgoes selling new stock and instead allows existing stakeholders to sell their shares to new investors. As the largest exchange for cryptocurrency&nbsp;Coinbase&nbsp;has 43 million users trading digital assets in more than 100 countries.As per reports&nbsp;Coinbase&nbsp;is worth $68 billion

Bulls kickstarted April with a record close on Wall Street as S&P500 shut shop above the 4000 mark for the very first time. The 500 stock gauge is n

Bulls kickstarted&nbsp;April with a record close on Wall Street as S&amp;P500 shut shop above the 4000 mark for the very first time.&nbsp;&nbsp;The 500 stock gauge is now up 7% in 2021, and has gained 80% from its low in March 2020.&nbsp; The tech-heavy Nasdaq Composite jumped 1.8%&nbsp; as Google parent Alphabet rallied 3%,to a record close while Amazon and Microsoft gained over 2% as bond yields eased from a 14 month high. On the data front, an index of U.S. manufacturing activity jumped to&nbsp;a reading of 64.7, marking the highest level since December 1983. U.S. stock markets will close on Good Friday for the holiday. For the shortened week, the S&amp;P 500 rose 1.1%, the Dow gained 0.25% and the Nasdaq added 2.6%.
&nbsp;

Macrotech Developers or more popularly known as Lodha Developers are ready to test the waters with an IPO, hoping that third time is a charm. The Mumbai based rea

Macrotech Developers or more popularly known as Lodha Developers are ready to test the waters with an IPO, hoping that third time is a charm.&nbsp; The Mumbai based real estate developer is likely to launch it&rsquo;s IPO on April 7 as per reports . Looking to raise Rs 2500 cr as its DRHP gets a nod from the market regulator SEBI and is likely to aim at raising Rs 500 cr in pre-IPO placements.
At Rs 2500 cr the company has cut down it&rsquo;s IPO expectation to nearly half vs its 2018 plan of Rs 5500 cr. In 2009 the company abandoned its primary market plans due to the financial crisis.
The company reported a total income of Rs 3,160.49 crore for the period ended December compared with Rs9,357.35 crore a year ago. Net loss stood at Rs 264.30 crore compared to a profit of Rs 503.08 crore.

Global banks such as Nomura and Credit Suisse as fearing large losses after US hedge fund Archegos Capital, defaulted on margin calls. Experts are pegging thi

Global banks such as Nomura and Credit Suisse as fearing large losses after&nbsp;US hedge fund&nbsp;Archegos Capital, defaulted on margin calls. Experts are pegging this value at over $6 billion. It started to unravel of Friday as Goldman Sachs sold $10 billion worth of shares in block trades after losses at the hedge fund&nbsp;triggered a fire sale of stocks.
Archegos was unable to meet banks' calls for more collateral to secure equity swap trades they had partly financed. After those positions fell sharply in value, lenders sold big blocks of securities to recoup what they were owed, the sources said.

Rs 1.75 lakh crore is an achievable divestment target for the coming fiscal, that's the word coming in from govt that is banking on the mega LIC IPO in F

Rs 1.75 lakh crore&nbsp;is an achievable divestment target for the coming fiscal, that's the word coming in from govt that is banking on the mega LIC&nbsp;IPO&nbsp;in FY'22.
India's Chief Economic Adviser speaking at a virtual confrence&nbsp;said, "There are estimates suggesting Rs 75,000-80,000 crore or even higher can just come from the privatisation of BPCL itself. LIC IPO could bring in Rs 1 trillion approximate"
The LIC&nbsp;IPO&nbsp;are on track with the govt passing amendments in the LIC Act&nbsp; through the Finance Bill 2021 in Parliament.
&nbsp;

Dining chain Barbeque Nation gets serve it's IPO to customers on Wednesday. Here is what you need to know: Issue Dates: March 24-26 Issue Pric

Dining chain&nbsp;Barbeque Nation gets serve it's&nbsp;IPO to customers&nbsp;on Wednesday.&nbsp;
Here is what you need to know:
<ul>
<li>Issue Dates: March 24-26</li>
<li>Issue Price:&nbsp;₹498-500 per share</li>
<li>Lot Size:&nbsp;30 shares</li>
</ul>
Rakesh Jhunjhunwala's investment firm Alchemy Capital is an existing investor in this company.Barbeque Nation has already raised Rs 150 crore through a pre-IPO placement from Xponentia Capital and&nbsp;Jubilant Foodworks.&nbsp;

Why did NSE not move to the disaster recovery site on the fateful day of the glitch, is still the question many want answered. The market regulator SEBI to remove

Why did NSE not move to the disaster recovery site on the fateful day of the glitch, &nbsp;is still the question many want answered. The market regulator SEBI to remove&nbsp;ambiguity has come out with strict norms for an action plan for exchanges if any such incident occurs again.&nbsp;
The stock exchange will now be required to announce a 'disaster' within 30 minutes of disruption of critical systems, according to the Securities and Exchange Board of India. After declaring such a &lsquo;disaster&rsquo; the exchange will have to take measures to restore operations, including from the recovery site, within 45 minutes.
A month after the market halt SEBI has made it clear that market infrastructure institutions will ensure there is no data loss for more than 15 minutes, while they should work to avoid any loss.

Good news for Bajaj shareholders, the company has increased it's possible dividend payout ratio from 50% to 90% of profit. So as per the amended policy Baja

Good news for Bajaj&nbsp;shareholders, the company has increased it's possible dividend payout ratio from 50% to 90% of profit.&nbsp;
So as per the amended policy Bajaj&nbsp;Auto can&nbsp;declare a dividend up to 90% of the standalone profit if the surplus cash is higher than Rs 15,000 crore. In case the cash surplus is between Rs 7,500 crore and Rs 15,000 crore, the extent of dividend will be 70-90% of the profit.
India's largest two-wheeler maker by market value is currently the highest dividend payer in the sector close to 50% of standalone profit.

It is a scary déjà vu of the taper tantrum as the headline reads the same, rising yields slides markets. Global markets have started reeling under pr

It is a scary&nbsp;d&eacute;j&agrave; vu of the taper tantrum as the headline reads the same, rising yields slides markets. Global markets have started reeling under pressure of rising bond yileds&nbsp;even though central bankers continue to reassure support towards low rates.&nbsp; The S&amp;P 500 Index sank 1.5% seeing the&nbsp;largest fall in three weeks. The more cheap money dependent tech index the&nbsp;Nasdaq Composite sank 3% to&nbsp; the lowest in more than a week on the largest tumble in three weeks as well. 10 year Treasury yields climbed to 1.75% for the first time since January 2020, while the 30-year breached 2.5% for the first time since August 2019. Signalling that investors are anticipating a big build up in price pressures.&nbsp;

Crude prices tumbled to a two week low as the commodity saw selling pressure for the fifth straight session.As per Reuters data this would make it the longest

Crude prices tumbled to a two week low as the commodity saw selling pressure for the fifth straight session.As per Reuters&nbsp;data this would make it the&nbsp;longest losing streak for WTI since February 2020 and for Brent since September 2020.
Experts cite slow down in vaccine roll out in Europe which would hurt demand for oil and also the strengthening dollar which is working against the commodity.&nbsp;The Bloomberg Dollar Spot Index saw the biggest advance in more than a week

Shareholders of Edelweiss ARC have alleged that Edelweiss Group, the controlling shareholder of the asset reconstruction company along with its partner Canadian pe

Shareholders&nbsp;of Edelweiss ARC have alleged that Edelweiss Group, the controlling shareholder of the asset reconstruction company along with its partner Canadian pension fund Caisse de d&eacute;p&ocirc;t et placement du Qu&eacute;bec (CDPQ), diverted at least Rs 1,800 crore from the asset reconstruction company.&nbsp;
The Ministry of Corporate Affairs has ordered an&nbsp;&nbsp;inspection of the books of Edelweiss Asset Reconstruction Company after recieving a complaint from&nbsp;Paras Kuhad, a former additional solicitor general of India who owns 14% in the ARC with his family.&nbsp; Edelweiss ARC strongly denied all wrongdoing and said it was compliant with all laws in letter and spirit.&nbsp;

What is could be a big first for cryptocurrency backers, reports indicate Morgan Stanley is set to be the first US bank to to offer its wealth management

What could be a big&nbsp;first for cryptocurrency&nbsp;backers, reports indicate Morgan Stanley is set to be the first US bank to offer its wealth management clients access to Bitcoin&nbsp;funds. Sources told CNBC&nbsp;that the investment bank informed it's financial advisors&nbsp;in an internal memo that it is launching access to three funds that would enable ownership of Bitcoin. Morgan Stanley with $4 trillion&nbsp;in client assets is likely to only allow its wealthier clients access to the volatile asset.

Dow, S&P 500 and Nasdaq all reacted positively with the non-tech based Index hitting record high as the US central bank reiterated it was no hurry to lift

Dow, S&amp;P 500 and Nasdaq&nbsp;all reacted positively with the non-tech based Index hitting record high as the US central bank reiterated&nbsp;it was no hurry to lift rates despite signs the recovery is taking shape.&nbsp;&nbsp;
As Fed reassured it will support the economy as long as it takes and the bulls on cue pushed the Dow Jones Industrial Average to its first close above 33,000 with a gain of 189 points. The S&amp;P 500 also notched a record close and rose 0.3% to 3,974 after falling 0.7% earlier .
Tech Index&nbsp;Nasdaq Composite, which had fallen as much as 1.5%, wiped out its early losses and ended the day 0.4% higher as yields eased though mildly from it's pre-pandemic level.&nbsp;

The Federal Reserve played by the script and delivered exactly what the market expected. Here are the top 5 things you need to know about the Fed's decision. F

The Federal Reserve played by the script and delivered exactly what the market expected. Here are the top 5 things you need to know about the Fed's decision.&nbsp;
<ol>
<li>Fed has left rates unchanged and indicated that there are no expected interest rate hikes through 2023</li>
<li>Seven of 18 officials predicted higher rates by the end of 2023 compared with five of 17 at the December meeting</li>
<li>Fed raised their growth projections to&nbsp;6.5% this year, up from a prior projection of 4.2%.</li>
<li>The central bank expects inflation bump this year to be short lived.</li>
<li>Fed will continue it's easy money policy where it buys at least $120 billion of bonds a month.</li>
</ol>

Anil Agarwal-led Vedanta Resources on Tuesday decided to raise the open offer price to buy shares of its India subsidiary to ₹235 per equity share, the company sai

Anil&nbsp;Agarwal-led Vedanta Resources has raised the open offer for it's Indian shareholders. The new open offer price ₹ 235/share is 47% higher than the previous offer of&nbsp;₹160/share.
The company has also offered to buy 17.5% of the unit from the shareholders vs 10% previously.&nbsp;The open offer will start on March 23 and close on April 7.
Vedanta Resources' shareholding in Vedanta Ltd will increase from the current 55.1% to 72.6% post the transaction.

As mobile gaming company Nazara opens its doors to investors through the IPO route here are a few things you need to know Nazara IPO Radar: Issue Dates: Opens

It's a blockbuster start Rakesh&nbsp;Jhunjhunwala&nbsp;backed Nazara&nbsp;IPO&nbsp;as it is subscribed 5 times, retail portion booked 22 times. Here is what you need to know about the gaming company's issue.&nbsp;
Nazara IPO Radar:
<ul>
<li>Issue Dates: Opens March 17-19</li>
<li>Issue Price:&nbsp;Rs 1,100-1,101/share</li>
<li>Lot size: Minimum bid of 13 shares&nbsp;</li>
<li>Issue: 52.94 lakh shares &nbsp;via offer for sale</li>
</ul>
So why is this gaming company commanding a 80% premium in the grey market?&nbsp;
The buzz around this IPO has been big due to the backing of veteran investor Rakesh Jhunjhunwala . As per DRHP filings&nbsp;Rakesh Jhunjhunwala held 3.2 million shares, or 11.51 per cent stake, in the company as of September 30.&nbsp;
Secondly the gaming biz is booming&nbsp;Roblox, the extremely popular kids gaming app debuted on Wall Street this month and soared at listing with a &nbsp;market cap of $38 billion.&nbsp;

follow us

download editorji app

home > markets > Govt extends deadline for BPCL bids due to Covid-19

replay trump newslist

up NEXT IN 5 SECONDS sports newslist

NaN/0

Govt extends deadline for BPCL bids due to Covid-19

share this news

explore newslists

Food

Fashion

Hollywood

Tech

Business

Viral

International

Sports

Showbiz

Lifestyle

Markets

Apr 16, 2021 12:04 IST

Apr 12, 2021 07:00 IST

Apr 10, 2021 23:00 IST

Apr 08, 2021 06:00 IST

Apr 11, 2021 06:32 IST

Apr 04, 2021 04:40 IST

Apr 06, 2021 00:00 IST

Apr 01, 2021 05:40 IST

Mar 29, 2021 17:10 IST

Mar 25, 2021 10:20 IST

Mar 24, 2021 23:20 IST

Mar 20, 2021 23:30 IST

Mar 20, 2021 03:00 IST

Mar 20, 2021 03:00 IST

Mar 20, 2021 11:10 IST

Mar 19, 2021 22:20 IST

Mar 18, 2021 13:00 IST

Mar 18, 2021 23:10 IST

Mar 19, 2021 09:00 IST

Mar 18, 2021 14:10 IST

follow editorji

download editorji

editorji

About Us

Reach us

Navigate

home
> markets
> Govt extends deadline for BPCL bids due to Covid-19