VEDANTA : Company has notified the Management Committee, DGH and Ministry of Petroleum and Natural Gas on February 21, 2022 of an Oil Discovery (named ‘Durga’) in its exploratory well WM-Basal DD Fan-1 drilled in OALP Block RJ-ONHP-2017/1 in Barmer District of Rajasthan.
The approval of Management Committee has also been sought. The Block was awarded to the Company in October 2018 and is one of the 41 Blocks awarded to it in OALP-I round of bidding. The Company holds 100% participating interest in the block.
Durga-1 (earlier WM-Basal DD Fan-1) is the second well drilled in the Block RJ-ONHP-2017/1 to a depth of 2615m MDRT. This is the third hydrocarbon discovery notified by the Company under the OALP portfolio.
During the drilling of the well, four hydrocarbon zones were encountered in the Dharvi Dungar (DD) formation of Late Paleocene to Early Eocene age.
The approval of Management Committee has also been sought. The Block was awarded to the Company in October 2018 and is one of the 41 Blocks awarded to it in OALP-I round of bidding. The Company holds 100% participating interest in the block.
Durga-1 (earlier WM-Basal DD Fan-1) is the second well drilled in the Block RJ-ONHP-2017/1 to a depth of 2615m MDRT. This is the third hydrocarbon discovery notified by the Company under the OALP portfolio.
During the drilling of the well, four hydrocarbon zones were encountered in the Dharvi Dungar (DD) formation of Late Paleocene to Early Eocene age.
*NEWS DIGEST (5 Mins read) to start the DAY - 22 Feb 2022, Tuesday - updated at 0530HRS IST*
_16-year-old Indian Grandmaster R Praggnanandhaa defeated world champion, Magnus Carlsen in the eighth round of the Airthings Masters - an online rapid chess competition_
*India's maritime strength, at the sea and in the air, was in full display during the Presidential Fleet Review in Visakhapatnam*
_IIT Delhi, TCL Sign MoU To Develop Smart Protective Clothing For Security Forces deployed in the high-altitude areas, sensor fitted garments and clothing for protection from ballistic weapons_
*SC Seeks Union Govt, States' Stand on PIL Seeking Enforcement of Fundamental Duties of Citizens; plea said: Fundamental Duties are important tool to protect unity, integrity of several institutions, including the judiciary*
_UP: BJP Legislator Caught Giving Hate Speech Again says Will Conduct DNA Test of Hindus who who vote for anyone other than him_
*India’s Stance Leaves the West Scrambling as Jaishankar Calls out Hypocrisy, Slams China; Ukraine Seeks Urgent UN Security Council Meeting over Threat; Russia's Putin Recognises Separatist Areas In Ukraine As Independent; Claims Border Breach from Ukraine, Kyiv Calls it 'Fake News*
_Bhuj-Naliya railway track will soon start the functionality of trains which will connect the border areas of the Kutch region of Gujarat with the rest of the country_
*Kerala HC: Discreet phone calls by the wife, despite her husband's objection, amount to marital cruelty*
_IRCTC Confirmtkt app: allows passengers to view the seat availability of various trains. It will also show all the tatkal tickets available on a specific route_
*A team of doctors at a private nursing home in Bihar’s Muzaffarnagar removed a piece of glass from the stomach of an old man; diagnosed a piece of glass inside the patient’s anus*
_Karnataka Bajrang Dal Man’s Death: Two Accused At large; Victim’s Personal Feud Being Probed; Three Arrested; Demand for NIA Probe_
*Family Members of Deceased Farmers Move SC against Bail to Union Minister Son Ashish Mishra in Lakhimpur Kheri Case*
_Sameer Wankhede Booked for Alleged Fraud, Providing False Info on Oath to Obtain Illegal Bar License_
*Maharashtra women's panel asks police to submit report on Narayan Rane's remark on Disha Salian death*
_UK-based Planet Smart City plans to raise 60 million euros from global investors; to fund launch of around 54 smart projects over the next three years including a total of over 40,000 housing units_
*NABARD projects priority sector lending of Rs 6.13 lakh crore during 2022-23 for Maharashtra; Gold loan NBFCs may adopt aggressive growth strategies amid competition from banks*
_TCS market cap doubles under Rajesh Gopinathan, who completes five years in office; from CFO stepped into shoes of NC_
*Freedom Convoy Protests End, Internet Reminds Canada How Trudeau Once Hailed China’s ‘Basic Dictatorship*
_SwissLeaks': General Akhtar Abdur Rehman Khan, Pakistan's former top spy, featured in a leaked list of high-profile Pakistanis with accounts in Swiss bank Credit Suisse; CS on defensive after leak about 18K A/Cs holding over $100BN_
*Biowaste, body parts from morgues: Sri Lanka returns 3,000 tonnes of garbage to UK; waste arrived b/w 2017 and 2019 and was listed as "used mattresses, carpets and rugs*
_BCCI Apex Council Meeting: Board to discuss formation of LOC for World Cup 2023, team sponsor contract, Senior T20s_
*ISL: Bengaluru FC came from behind to defeat Odisha FC 2-1; Reach Fifth To Keep Semis Hopes Alive*
_Biological E's Covid-19 Vaccine Corbevax Gets Emergency Use Approval for Children Aged 12-18; Regular international flights likely to resume from March 15_
_India 42,850,066; Active 189,721 (0.44%); Recovery 42,147,974 (98.36%); Vaccine 175.5Cr (1st 90.7Cr/ 2nd 75.3Cr)_
*World: 426,224,971; Active 67,308,912 (15.79%); Recovery 353,007,247 (82.82%); Vaccine 10.57BN*
Today’s Word - *Qually* - Of wine, cloudy or turbid
_16-year-old Indian Grandmaster R Praggnanandhaa defeated world champion, Magnus Carlsen in the eighth round of the Airthings Masters - an online rapid chess competition_
*India's maritime strength, at the sea and in the air, was in full display during the Presidential Fleet Review in Visakhapatnam*
_IIT Delhi, TCL Sign MoU To Develop Smart Protective Clothing For Security Forces deployed in the high-altitude areas, sensor fitted garments and clothing for protection from ballistic weapons_
*SC Seeks Union Govt, States' Stand on PIL Seeking Enforcement of Fundamental Duties of Citizens; plea said: Fundamental Duties are important tool to protect unity, integrity of several institutions, including the judiciary*
_UP: BJP Legislator Caught Giving Hate Speech Again says Will Conduct DNA Test of Hindus who who vote for anyone other than him_
*India’s Stance Leaves the West Scrambling as Jaishankar Calls out Hypocrisy, Slams China; Ukraine Seeks Urgent UN Security Council Meeting over Threat; Russia's Putin Recognises Separatist Areas In Ukraine As Independent; Claims Border Breach from Ukraine, Kyiv Calls it 'Fake News*
_Bhuj-Naliya railway track will soon start the functionality of trains which will connect the border areas of the Kutch region of Gujarat with the rest of the country_
*Kerala HC: Discreet phone calls by the wife, despite her husband's objection, amount to marital cruelty*
_IRCTC Confirmtkt app: allows passengers to view the seat availability of various trains. It will also show all the tatkal tickets available on a specific route_
*A team of doctors at a private nursing home in Bihar’s Muzaffarnagar removed a piece of glass from the stomach of an old man; diagnosed a piece of glass inside the patient’s anus*
_Karnataka Bajrang Dal Man’s Death: Two Accused At large; Victim’s Personal Feud Being Probed; Three Arrested; Demand for NIA Probe_
*Family Members of Deceased Farmers Move SC against Bail to Union Minister Son Ashish Mishra in Lakhimpur Kheri Case*
_Sameer Wankhede Booked for Alleged Fraud, Providing False Info on Oath to Obtain Illegal Bar License_
*Maharashtra women's panel asks police to submit report on Narayan Rane's remark on Disha Salian death*
_UK-based Planet Smart City plans to raise 60 million euros from global investors; to fund launch of around 54 smart projects over the next three years including a total of over 40,000 housing units_
*NABARD projects priority sector lending of Rs 6.13 lakh crore during 2022-23 for Maharashtra; Gold loan NBFCs may adopt aggressive growth strategies amid competition from banks*
_TCS market cap doubles under Rajesh Gopinathan, who completes five years in office; from CFO stepped into shoes of NC_
*Freedom Convoy Protests End, Internet Reminds Canada How Trudeau Once Hailed China’s ‘Basic Dictatorship*
_SwissLeaks': General Akhtar Abdur Rehman Khan, Pakistan's former top spy, featured in a leaked list of high-profile Pakistanis with accounts in Swiss bank Credit Suisse; CS on defensive after leak about 18K A/Cs holding over $100BN_
*Biowaste, body parts from morgues: Sri Lanka returns 3,000 tonnes of garbage to UK; waste arrived b/w 2017 and 2019 and was listed as "used mattresses, carpets and rugs*
_BCCI Apex Council Meeting: Board to discuss formation of LOC for World Cup 2023, team sponsor contract, Senior T20s_
*ISL: Bengaluru FC came from behind to defeat Odisha FC 2-1; Reach Fifth To Keep Semis Hopes Alive*
_Biological E's Covid-19 Vaccine Corbevax Gets Emergency Use Approval for Children Aged 12-18; Regular international flights likely to resume from March 15_
_India 42,850,066; Active 189,721 (0.44%); Recovery 42,147,974 (98.36%); Vaccine 175.5Cr (1st 90.7Cr/ 2nd 75.3Cr)_
*World: 426,224,971; Active 67,308,912 (15.79%); Recovery 353,007,247 (82.82%); Vaccine 10.57BN*
Today’s Word - *Qually* - Of wine, cloudy or turbid
STOCKS in ACTION 22 Feb
Indiabulls real estate clarification: says ED investigation did not pertain to them & has no bearing on the business & the operations of IB real.
Mr. Sameer Gehlaut now owns just 0.26% in the company.
🙂7NR Retail board approves stock split
🙂Ducon Infratechnologies Ltd Board to consider Bonus Issue
🙂Arshiya Limited fixes March 4, 2022 as record date for demerger
🙂HindalcoIndustries : Novelis to Build New $50 Million Recycling and Casting Center in South Korea to Expand Low-Carbon Aluminum Production
🙂PharmEasy, Thyrocare parent API Holdings gets SEBI nod for Rs 6250 cr-IPO
🙂Datasoft Application Software India to foray into new businesses
🙂Adani Group announces MoU with Ballard for Hydrogen fuel cells in India
🙂Mahindra and Mahindra arm completes sale of stake in JV
🙂CEPI, THSTI and Panacea Biotec partner to develop broadly protective Betacoronavirus vaccines
🙂Vedanta announces Oil discovery in OALP-I Block RJ-ONHP-2017/1, Rajasthan, India
🙂NHPC Limited restores Sewa II Power Station
🙂Black Rose Industries commences commercial production of N-Methylol Acrylamide
🙂IIFL Home Finance signs USD 68 million loan with ADB to boost affordable green housing in India
🙂Krsnaa Diagnostics Limited : Himachal Government awards tender to Krsnaa Diagnostics Limited
🙂Dhunseri Tea & Industries Ltd has given possession of Santi Tea Estate to buyer
🙂Axis Mutual Fund launches 'Axis NIFTY Smallcap 50 Index Fund'
🙂IB Infotech Enterprises to acquire 81% stake in Pearl Leisure Pvt Ltd
🙂IndiaMART leads the Series B funding round of Logistics SaaS Platform Fleetx
🙂Affle India subsidiary completes acquisition of Appnext
Indiabulls real estate clarification: says ED investigation did not pertain to them & has no bearing on the business & the operations of IB real.
Mr. Sameer Gehlaut now owns just 0.26% in the company.
🙂7NR Retail board approves stock split
🙂Ducon Infratechnologies Ltd Board to consider Bonus Issue
🙂Arshiya Limited fixes March 4, 2022 as record date for demerger
🙂HindalcoIndustries : Novelis to Build New $50 Million Recycling and Casting Center in South Korea to Expand Low-Carbon Aluminum Production
🙂PharmEasy, Thyrocare parent API Holdings gets SEBI nod for Rs 6250 cr-IPO
🙂Datasoft Application Software India to foray into new businesses
🙂Adani Group announces MoU with Ballard for Hydrogen fuel cells in India
🙂Mahindra and Mahindra arm completes sale of stake in JV
🙂CEPI, THSTI and Panacea Biotec partner to develop broadly protective Betacoronavirus vaccines
🙂Vedanta announces Oil discovery in OALP-I Block RJ-ONHP-2017/1, Rajasthan, India
🙂NHPC Limited restores Sewa II Power Station
🙂Black Rose Industries commences commercial production of N-Methylol Acrylamide
🙂IIFL Home Finance signs USD 68 million loan with ADB to boost affordable green housing in India
🙂Krsnaa Diagnostics Limited : Himachal Government awards tender to Krsnaa Diagnostics Limited
🙂Dhunseri Tea & Industries Ltd has given possession of Santi Tea Estate to buyer
🙂Axis Mutual Fund launches 'Axis NIFTY Smallcap 50 Index Fund'
🙂IB Infotech Enterprises to acquire 81% stake in Pearl Leisure Pvt Ltd
🙂IndiaMART leads the Series B funding round of Logistics SaaS Platform Fleetx
🙂Affle India subsidiary completes acquisition of Appnext
Stocks To Watch
Adani Enterprises: The company signed a non-binding memorandum of understanding with Ballard Power Systems to evaluate a joint investment case for the commercialisation of hydrogen fuel cells in various mobility and industrial applications in India.
Tata Power: The company’s subsidiary Tata Power Renewable Energy has signed a memorandum of understanding with RWE Renewables GmbH to explore the potential for a joint development of offshore wind projects in India.
ICICI Bank: The company has entered into an agreement to acquire 9.49% stake in Verve Financial Services for Rs 19.99 crore.
Hero MotoCorp: The company has created a new position of chief growth officer, integrating marketing, sales and aftersales functions. Ranjivjit Singh, head of marketing, has been elevated to to this new role with immediate effect.
Hindalco: The company’s wholly owned subsidiary Novelis will invest approximately Rs 372.74 crore ($50 million) to build a recycling centre with annual casting capacity of 100 kilotonnes of low-carbon sheet ingot at its Ulsan Aluminium joint venture in South Korea. It expects the recycling centre to reduce the company’s carbon emissions by more than 420,000tonnes each year.
IDFC First Bank: Managing Director and CEO V. Vaidyanathan has gifted 900,000 equity shares to five persons including his trainer, househelp, driver and office support staff. Rukmani Social Welfare Trust has disposed 200,000 equity shares to support social activities.
IndiaMart InterMesh: The company entered into an agreement with Fleetx Technologies to acquire 16.35% stake for an aggregate amount of Rs 91.42 crore.
Affle India: The company’s subsidiary Affle International has acquired 28.33% stake in Appnext.
Krsnaa Diagnostic: The company has bagged a tender for providing diagnostic/laboratory services in healthcare institutions run by the Health and Family Welfare Department of Government of Himachal Pradesh.
ISGEC: The company has commissioned its largest Biomass Boilers for a Bio Ethanol project in Thailand for GKBI, a joint venture of PTT, Thailand Petroleum Company and KTIS, through an EPC company, Sbang, Thailand.
SIS: The company said that former promoters of the SLV, Vishal Swara and Ruchi Swara, have withheld the transfer of remaining 21,474 shares (8.59%) with a dishonest intention, in spite receiving full consideration for the shares. The companysaid it has thus completed and fulfilled its obligations of payments to purchase 100% of the shares of SLV.
CG Power: Mumbai High Court dismisses tax claim on CG Power.
L&T Finance: Citigroup sells 57.87 million shares of the company, while BNP Paribas buys 57.87 million shares at Rs 71.35/share.
Panacea Biotec: The pharma company has partnered the central government for Betacoronavirus vaccines.
Adani Enterprises: The company signed a non-binding memorandum of understanding with Ballard Power Systems to evaluate a joint investment case for the commercialisation of hydrogen fuel cells in various mobility and industrial applications in India.
Tata Power: The company’s subsidiary Tata Power Renewable Energy has signed a memorandum of understanding with RWE Renewables GmbH to explore the potential for a joint development of offshore wind projects in India.
ICICI Bank: The company has entered into an agreement to acquire 9.49% stake in Verve Financial Services for Rs 19.99 crore.
Hero MotoCorp: The company has created a new position of chief growth officer, integrating marketing, sales and aftersales functions. Ranjivjit Singh, head of marketing, has been elevated to to this new role with immediate effect.
Hindalco: The company’s wholly owned subsidiary Novelis will invest approximately Rs 372.74 crore ($50 million) to build a recycling centre with annual casting capacity of 100 kilotonnes of low-carbon sheet ingot at its Ulsan Aluminium joint venture in South Korea. It expects the recycling centre to reduce the company’s carbon emissions by more than 420,000tonnes each year.
IDFC First Bank: Managing Director and CEO V. Vaidyanathan has gifted 900,000 equity shares to five persons including his trainer, househelp, driver and office support staff. Rukmani Social Welfare Trust has disposed 200,000 equity shares to support social activities.
IndiaMart InterMesh: The company entered into an agreement with Fleetx Technologies to acquire 16.35% stake for an aggregate amount of Rs 91.42 crore.
Affle India: The company’s subsidiary Affle International has acquired 28.33% stake in Appnext.
Krsnaa Diagnostic: The company has bagged a tender for providing diagnostic/laboratory services in healthcare institutions run by the Health and Family Welfare Department of Government of Himachal Pradesh.
ISGEC: The company has commissioned its largest Biomass Boilers for a Bio Ethanol project in Thailand for GKBI, a joint venture of PTT, Thailand Petroleum Company and KTIS, through an EPC company, Sbang, Thailand.
SIS: The company said that former promoters of the SLV, Vishal Swara and Ruchi Swara, have withheld the transfer of remaining 21,474 shares (8.59%) with a dishonest intention, in spite receiving full consideration for the shares. The companysaid it has thus completed and fulfilled its obligations of payments to purchase 100% of the shares of SLV.
CG Power: Mumbai High Court dismisses tax claim on CG Power.
L&T Finance: Citigroup sells 57.87 million shares of the company, while BNP Paribas buys 57.87 million shares at Rs 71.35/share.
Panacea Biotec: The pharma company has partnered the central government for Betacoronavirus vaccines.
#MarketAtClose | Mkt Closes Lower Amid Volatility, Geopolitical Tensions
Volatility Index (India VIX) Rises Up To 21% To Hit A 11-month High
All Sectoral Indices Close Lower, Media, Realty & PSU Bank Top Losing Indices
Market Breath Improves But Remains In Favour Of Declines
Volatility Index (India VIX) Rises Up To 21% To Hit A 11-month High
All Sectoral Indices Close Lower, Media, Realty & PSU Bank Top Losing Indices
Market Breath Improves But Remains In Favour Of Declines
Jefferies in its report suggests that unwinding of the global liquidity calls for mean reversion on valuations. “Our 10 mean reversion scenarios put Nifty December 2022 target at an average of 17,500 with the range being 16,500 to 18,500,” it said.
The LIC public issue amid continued foreign selling, and a perception that the RBI might be behind the curve amid the twin deficit concerns, are the two key near-term risks that Indian markets face
The LIC public issue amid continued foreign selling, and a perception that the RBI might be behind the curve amid the twin deficit concerns, are the two key near-term risks that Indian markets face
Bharti Airtel: The telco is likely to raise up to ₹5,000 crore soon through rupee-denominated bonds from the domestic market.
TCS: The IT major has grown its revenues to $25 billion in calendar 2021 from $18.5 billion 2017.
HDFC Bank: An appellate tribunal has dismissed a Sebi order against HDFC Bank in a case related to invoking securities pledged by stockbroker BRH Wealth Kreators.
Vedanta: Announced that it has made an oil discovery in its exploratory well in Rajasthan's Barmer district.
Adani Group: Adani Group and Ballard Power Systems have tied up to evaluate a joint investment in hydrogen fuel cells manufacturing in India.
L&T Finance Holdings: BNP Paribas Arbitrage on Monday bought shares of L&T Finance Holdings worth nearly ₹413 crore through an open market transaction.
TCS: The IT major has grown its revenues to $25 billion in calendar 2021 from $18.5 billion 2017.
HDFC Bank: An appellate tribunal has dismissed a Sebi order against HDFC Bank in a case related to invoking securities pledged by stockbroker BRH Wealth Kreators.
Vedanta: Announced that it has made an oil discovery in its exploratory well in Rajasthan's Barmer district.
Adani Group: Adani Group and Ballard Power Systems have tied up to evaluate a joint investment in hydrogen fuel cells manufacturing in India.
L&T Finance Holdings: BNP Paribas Arbitrage on Monday bought shares of L&T Finance Holdings worth nearly ₹413 crore through an open market transaction.
For those who ask: “Why does Ukraine matter? “
Ukraine matters because….
It is the second largest country by area in Europe by area and has a population
of over 40 million - more than Poland.
Ukraine ranks:
1st in Europe in proven recoverable reserves of uranium ores;
2nd place in Europe and 10th place in the world in terms of titanium ore reserves;
2nd place in the world in terms of explored reserves of manganese ores (2.3 billion tons, or 12% of the world's reserves);
2nd largest iron ore reserves in the world (30 billion tons);
2nd place in Europe in terms of mercury ore reserves;
3rd place in Europe (13th place in the world) in shale gas reserves (22 trillion cubic meters)
4th in the world by the total value of natural resources;
7th place in the world in coal reserves (33.9 billion tons)
Ukraine is an important agricultural country:
1st in Europe in terms of arable land area;
3rd place in the world by the area of black soil (25% of world's volume);
1st place in the world in exports of sunflower and sunflower oil;
2nd place in the world in barley production and 4th place in barley exports;
3rd largest producer and 4th largest exporter of corn in the world;
4th largest producer of potatoes in the world;
5th largest rye producer in the world;
5th place in the world in bee production (75,000 tons);
8th place in the world in wheat exports;
9th place in the world in the production of chicken eggs;
16th place in the world in cheese exports.
Ukraine can meet the food needs of 600 million people.
Ukraine is an important industrialised country:
1st in Europe in ammonia production;
Europe's 2nd’s and the world’s 4th largest natural gas pipeline system;
3rd largest in Europe and 8th largest in the world in terms of installed capacity of nuclear power plants;
3rd place in Europe and 11th in the world in terms of rail network length (21,700 km);
3rd place in the world (after the U.S. and France) in production of locators and locating equipment;
3rd largest iron exporter in the world
4th largest exporter of turbines for nuclear power plants in the world;
4th world's largest manufacturer of rocket launchers;
4th place in the world in clay exports
4th place in the world in titanium exports
8th place in the world in exports of ores and concentrates;
9th place in the world in exports of defence industry products;
10th largest steel producer in the world (32.4 million tons).
Ukraine matters.
Ukraine matters because….
It is the second largest country by area in Europe by area and has a population
of over 40 million - more than Poland.
Ukraine ranks:
1st in Europe in proven recoverable reserves of uranium ores;
2nd place in Europe and 10th place in the world in terms of titanium ore reserves;
2nd place in the world in terms of explored reserves of manganese ores (2.3 billion tons, or 12% of the world's reserves);
2nd largest iron ore reserves in the world (30 billion tons);
2nd place in Europe in terms of mercury ore reserves;
3rd place in Europe (13th place in the world) in shale gas reserves (22 trillion cubic meters)
4th in the world by the total value of natural resources;
7th place in the world in coal reserves (33.9 billion tons)
Ukraine is an important agricultural country:
1st in Europe in terms of arable land area;
3rd place in the world by the area of black soil (25% of world's volume);
1st place in the world in exports of sunflower and sunflower oil;
2nd place in the world in barley production and 4th place in barley exports;
3rd largest producer and 4th largest exporter of corn in the world;
4th largest producer of potatoes in the world;
5th largest rye producer in the world;
5th place in the world in bee production (75,000 tons);
8th place in the world in wheat exports;
9th place in the world in the production of chicken eggs;
16th place in the world in cheese exports.
Ukraine can meet the food needs of 600 million people.
Ukraine is an important industrialised country:
1st in Europe in ammonia production;
Europe's 2nd’s and the world’s 4th largest natural gas pipeline system;
3rd largest in Europe and 8th largest in the world in terms of installed capacity of nuclear power plants;
3rd place in Europe and 11th in the world in terms of rail network length (21,700 km);
3rd place in the world (after the U.S. and France) in production of locators and locating equipment;
3rd largest iron exporter in the world
4th largest exporter of turbines for nuclear power plants in the world;
4th world's largest manufacturer of rocket launchers;
4th place in the world in clay exports
4th place in the world in titanium exports
8th place in the world in exports of ores and concentrates;
9th place in the world in exports of defence industry products;
10th largest steel producer in the world (32.4 million tons).
Ukraine matters.