India-based JSW Steel Ltd. claims three of the largest American steelmakers conspired to stifle competition by refusing to sell raw metal to its U.S. pipe and plate-making operations after the Trump administration imposed imports on cheaper foreign supplies.
Equity benchmarks Sensex and Nifty ended marginally lower yesterday following losses in index majors Reliance Industries Ltd, ICICI Bank and HDFC twins. The S&P BSE Sensex fell 0.1% at 52,275.57, while NSE Nifty 50 Index declined slightly to 15,740.10.
India’s key equity benchmarks closed at a record high even as investors assessed the impact of lockdowns on businesses, which have now begun to gradually reopen as the pace of coronavirus infections slows.
Bajaj Finance fell as much as 5.2%, the most intraday since April 19, after the company said B2B and auto finance businesses were the worst hit by lockdowns in different states.
tocks For Today: Bajaj Finance, NHPC, PNB, REC, Welspun Corp — Indian equity benchmarks go into the new week after a decline on Friday as the central bank kept borrowing costs at a record low level and lowered its economic growth projection. The S&P BSE Sensex slid 0.2% to 52,100.05, paring gains of as much as 0.3%, but closed the week 1.3% higher. The NSE Nifty 50 fell 0.13% at 15,670.25, capping its weekly advance to 1.5%.
APL Apollo Tubes Ltd. recorded better than expected Q4 FY21 Ebitda of Rs 2.07 billion (our estimate: Rs 1.8 billion) on account of higher premium/lower discounts.