3 Things to Know for Teji Mandi Investors Today
#Mandi- India's industrial output declines in June:
India's industrial output contracts to 16.6% in June as against a 1.3 percent growth in June 2019. As per the Index of Industrial Production (IIP) data. The manufacturing sector contracted 17.1%; the Mining sector contracted 19.8% and electricity production contracted 10% as compared to the same month the previous year.
#Teji- Domestic PV sales seeing signs of recovery: SIAM
Passenger vehicle (PV) wholesales in India fell by 3.86% to 1,82,779 units in July, according to data from the Society of Indian Automobile Manufacturers (SIAM). The wholesale figure had stood at 1,90,115 units in the corresponding month of the previous year.
July PV sales, however, is significantly better than June when the dispatches had declined by 49.59%, SIAM stated. The figures instill some confidence in the industry, it added.
#Teji- Aramco conducting due-diligence, RIL deal still open, says CEO
Saudi Aramco, the world's largest oil exporter, is conducting due diligence to acquire $15 billion stakes in Reliance Industries' refining and petrochemical business, its CEO Amin Nasser said.
RIL had in August last year announced plans to sell 20% stake in RIL's oil-to-chemical (O2C) business to Aramco at a valuation of $75 billion. The deal was to close by March but it was delayed.