From NSE's long-awaited IPO approval and ISRO's successful EOS-05 launch to a Sensex rebound, August auto sales and higher ATF and commercial LPG prices, the week delivered major developments across markets, business, energy and India's space programme for investors nationwide. Here's a look at the week that was.
NSE Gets Regulatory Nod For Rs 30,000 Crore IPO
The National Stock Exchange of India Ltd has received regulatory approval for the long-awaited Rs 30,000-crore initial public offering (IPO), which could potentially be the country's biggest-ever yet. The National Stock Exchange (NSE) is targeting September 11 for the announcement of the price band for its IPO, sources told NDTV Profit on Friday, adding that the stock exchange is also looking to list in the third week of September.
ISRO's EOS-05 Successfully Placed Into Intended Orbit
The Indian Space Research Organisation (ISRO) successfully launched EOS-05 Earth Observation Satellite aboard the GSLV-F17 rocket from the Second Launch Pad at Satish Dhawan Space Centre (SDSC-SHAR), Srihakota, Andhra Pradesh, in the early hours of Friday, September 4. The launch took place at 2:55 am IST. ISRO subsequently confirmed that GSLV-F17 successfully placed the EOS-05 into its intended Sub-Geosynchronous Transfer Orbit (Sub-GTO).
Sensex Snaps Four-Day Losses On Strong Rally In Metal, Oil Shares
Benchmark BSE Sensex rebounded by 362 points on Friday, cutting short its four-day losing streak on buying in metal, private banking and oil and gas shares amid gains in global stock markets. Among the Sensex constituents, Tata Steel, Reliance Industries, Bajaj Finance, Trent, Adani Ports, HDFC Bank, Kotak Mahindra Bank, UltraTech Cement, Titan, Mahindra & Mahindra and Hindustan Unilever were the major gainers.
Bharti Airtel, HCL Technologies, Eternal, Asian Paints, Tata Consultancy Services, Tech Mahindra, Sun Pharmaceuticals, ICICI Bank, Bharat Electronics Ltd and Maruti Suzuki India were among the laggards.
Auto Sales August
India's automakers reported their August sales figures on Sept 1, with Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai, Bajaj Auto, Eicher Motors, Ola Electric and SML Mahindra in focus. The monthly data had insights into demand across passenger vehicles, two-wheelers, electric vehicles and commercial vehicle. Track domestic sales, exports and year-on-year growth as the industry heads into the festive season.
ATF price up 5.46%, Commercial LPG rate rises Rs 9.50
Aviation turbine fuel (ATF) prices on Tuesday were hiked by 5.46%, while the price of commercial LPG, used by establishments such as hotels and restaurants, was raised by Rs 9.50 per 19-kg cylinder, in line with a rise in their international benchmarks. The increase comes on the back of a Rs 5 a litre rise in rates on August 1.
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