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Stock Market News - BPCL Jumps, City Gas Distributors Rally

BPCL Jumps The Most In Over A Week Shares of Bharat Petroleum Corporation Ltd. rose as much as 8.8 percent, the most since Sept. 23, to Rs 511.55. A group of secretaries on Monday cleared strategic sales in BPCL, BEML, Container Corporation of India and Shipping Corporation of India, according to ET report.


Oil Check -- Oil prices were under pressure, wiping out all of their gains after attacks on Saudi Arabian oil facilities last month, on fading concerns of supply shortfalls and conflicts in the Middle East, Reuters reported.
-- At 7:59 am, Brent Crude Futures were at $59.71 per barrel

Sept Auto Sales Data | Bajaj Auto

-- Total sales down 20% YoY, at 4.02 lakh units

-- Domestic sales down 31% YoY

Company's total sales down 20% at 4.02 lakh units against 5.02 lakh units, while exports declined 2 percent at 1.86 lakh units against 1.90 lakh units, YoY.

Rupee Opens: The Indian rupee gained in the early trade on Tuesday. It has opened higher by 14 paise at 70.73 per dollar versus previous close 70.87 yesterday.

TOP GAINERS & LOSERS - 

CONCOR, SCI, Berger Paints, BPCL, Yes Bank, IOC, IndusInd Bank, Hero MotoCorp, Tata Motors, HDFC Bank and Bajaj Finance are among major gainers on the Indices, while losers are DRL, Cipla, Reliance Capital, Ashok Leyland, Vodafone Idea and DHFL. Among sectors, except IT and metal all indices are trading higher led by the bank, auto, infra, FMCG, pharma, and energy.

JMC Projects secures new orders: Shares of JMC Projects gained more than 4 percent on October 1 as the company secured orders worth Rs 560 crore.

City Gas Distributors Rally After Government Cuts Gas Price Shares of the city gas distributors rallied after India’s oil ministry has cut the price of locally-produced natural gas. This is the first reduction after four straight hikes since October last year. The price of gas produced from domestic fields has been cut to $3.23 per metric million British thermal units from $3.69 per mmBtu, the ministry’s Petroleum Planning & Analysis Cell said. The new price will be effective from Oct. 1 till March 2020.

HDIL Seeks Appointment With PMC Bank Administrator Housing Development and Infrastructure Ltd. said that it has sought an appointment with the PMC Bank administrator to “put forth the true and correct picture as also to discuss a strategy hereby the interest of all stakeholders and in particular PMC Bank and its depositors is protected,” the real estate firm said in a statement on the exchanges.



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