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Break in surge of petrol price after 6 days

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Petrol Price

New Delhi, Nov 20 : After a rise for six consecutive days, the petrol prices did not show any increase on Wednesday and the diesel rates also remained static as the Brent crude oil rates dropped in the international market.

As per the Indian oil website, the petrol rates in Delhi, Kolkata, Mumbai and Chennai were Rs 74.20/litre, Rs 76.89/litre, Rs 79.86/litre and Rs 77.13/litre respectively. The diesel prices were Rs 65.84/litre, Rs 68.25/litre, 69.06/litre and 69.59/litre respectively.

The West Texas Intermediate for December delivery slumped 1.84 US dollars to settle at 55.21 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery was at $ 60.94 a barrel on the London ICE Futures Exchange.

In the international market, West Texas Intermediate (WTI) brent crude futures rose by 0.31 per cent to $60.94 a barrel. The Brent crude futures were at $60.75 a barrel.

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Bharat Bond ETF to open on Dec 12

The immediate CPSE borrowers ETF could be NHAI , Hudco, IRFC , NTPC PGCIL , GAIL, PFC, EXIM Bank and Nabard, said sources.

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ETF Bharat

New Delhi, Dec 9 : The government’s first debt ETF — Bharat Bond ETF — will be operational as it is set to open on December 12 where several PSUs will raise funds through this instrument.

Bharat Bond ETF’s New Fund Offer has got the nod of market regulator Sebi and will be launched on December 12, sources said.

Sebi has approved the NFO of Bharat Bond ETF and it will be launched on December 12 and investors can invest in the NFO till December 20, sources said.

It may have an offer size of Rs 7,000 crore. Edelweiss Assest Managment will launch the first tranche.

The immediate CPSE borrowers ETF could be NHAI , Hudco, IRFC , NTPC PGCIL , GAIL, PFC, EXIM Bank and Nabard, said sources.

The Union Cabinet cleared the launch of the Bharat Bond ETF on December 4, allowing retail investors to participate.

In Budget 2019, the government had announced plans for debt ETFs of public sector bonds after the success of equity ETFs like CPSE ETF and Bharat-22. The Bharat Bond will have a fixed maturity period and the units will be listed on stock exchanges.

The ETF will include AAA-rated firms to begin with and the unit value will be priced at Rs 1,000.

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Mamata visits Kolkata market, enquire about onion price

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Mamata Banerjee in Onion Market

Kolkata, Dec 9 : West Bengal Chief Minister Mamata Banerjee on Monday visited a prominent south Kolkata market and quizzed the vegetable seller and stockist about the exorbitant price of onions, now being sold between Rs 130 and Rs 140 a kilogram to retail customers.

Banerjee, who was onway to Kharagpur in West Midnapore district, stopped her convoy and went to Jadu Babu’s Market at Bhowanipore close to her Kaligrhat residence.

She first spoke to a number of retail sellers.

“Didi (‘elder sister’ as Banerjee is affectionately called) asked me at what price I was selling onions. When I said I am selling the bulb around Rs 130 and Rs 140 a kg, she asked me at what price I was buying it. I informed her I was buying it at Rs 120 a kg from the stockist,” said a seller Shila Roy.

Banerjee then asked her to name the stockist.

On knowing his name, Banerjee summoned him and asked him at what price he was selling it to the retailers. After the stockist said he was getting a price of Rs 120 a kilo, the Chief Minister wanted to know why the rate was so high when the state government was selling the vegetable at Rs 59 a kilo.

“Dal me kuch kala hai (something is wrong),” Banerjee said.

She then spoke to other onion sellers in the market.

In the wake of the devastating blaze that took the lives of 43 workers at a bag factory in Delhi, Banerjee instructed the market authorities to ensure that plastic sheets being used atop the stalls be removed.

Sometime after Banerjee left the market, police officers arrived there and started preparing a list of those trading in onions.

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Sensex opens marginally higher, auto stocks gain

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Sensex equity Nifty

Mumbai: Sensex and Nifty opened marginally higher on Monday. Gains were led by Yes Bank, Zee, Maruti Suzuki and Tata Motors.

Auto stocks were trading higher, led by gains in Maruti Suzuki. The auto major increased its production in November by 4.33 per cent, after having reduced output for nine straight months due to lower demand.

At 9.52 a.m., the Sensex was up 2.40 points or 0.01 per cent at 40,447.55. It opened at 40,527.24 from its previous close of 40,445.15.

The Nifty was also trading on a flat note. The broader index was up 8 points or 0.07 per cent at 11,929.50.

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