The three main indexes suffered their biggest monthly percentage declines in August since 2015. After hitting a four-month high in mid-August, the S&P 500 has stumbled in recent weeks, dropping more than 8% through Wednesday's close and falling through several closely watched technical support levels.
With availability of chips improving, passenger vehicles sales peaked at 341,000 units in July 2022. In the current calendar year, this is the fifth month that dispatches from factories have exceeded 300,000 units.
Three others - Reliance Industries (RIL), a consortium of HPCL-Mittal Energy and BC Jindal Group's Jindal Poly Films - which had submitted expressions of interest have stayed away from placing formal bids for the chemicals company, the people said on condition of anonymity as the information is still private.
In the first in-person meeting after a gap of two years, Chairman R C Bhargava referred to the statement of SMC President Toshihiro Suzuki, who earlier this week said that of the 2.8 million units made worldwide by the company, the Indian operations accounted for about 60% of the volumes.
The competition watchdog, in its letter dated August 3, is reported to have raised the point that the combined entity will enjoy “unparalleled†bargaining power and can increase the prices of channels as well as earn higher profits.
Total FDI, which includes equity inflows, reinvested earnings and other capital, shrank 0.79% to $22.34 billion in April-June, 2022-23 from $22.52 billion in the corresponding quarter of last fiscal. Singapore was the top investment source during the quarter with $5.68 billion FDI, followed by Mauritius at $2.36 billion and the UAE at $2.14 billion.
The company’s freighter division however registered a profit of Rs 18 crore for the first quarter of FY 23.
Srivastava is the third interim chief the government has appointed in 17 months at the country’s largest oil and gas producer as a full-time head is yet to be finalised. ONGC has been without a full-time chief since Shashi Shanker retired as chairman and managing director (CMD) in March 2021. Since then, the senior-most director on the board at the time of vacancy assume the additional charge of CMD.
