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HEG acquired 8.23% stake in GrafTech International for about Rs 248.62 crore. GrafTech International is a leading manufacturer of high quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals.

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Public sector banks saw stronger credit growth compared to deposit growth for the September quarter. Bank of India, Union Bank of India, and Indian Bank reported credit growth between 10% to 14%, while deposit growth ranged from 8% to 10%, according to provisional numbers.

Hero Motors withdraws draft papers for IPO

Updated at : 2024-10-08 06:35:02

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According to investment bankers, there were some technical issues with the draft papers and Sebi requested the company to make necessary revisions. As a result, the company decided to withdraw and refile the DRHP, they said. "The withdrawal of the DRHP has nothing to do with the weak secondary market. The company is expected to submit the revised DRHP within a month," said one of the bankers.

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Overseas investors sold shares worth ₹7,054 crore across eight sectors in the second-half of the month. The consumer services sector witnessed the highest foreign outflows at ₹2,784 crore, after receiving inflows worth ₹4,158 crore in August.

China's stock rally fails to convince global funds

Updated at : 2024-10-08 06:35:02

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Invesco Ltd., JPMorgan Asset Management, HSBC Global Private Banking and Wealth, and Nomura Holdings Inc. are among those viewing the recent rebound with skepticism and waiting for Beijing to back up its stimulus pledges with real money. Some are also concerned many stocks are already reaching overvalued levels.

India has an edge to join FTSE's EM Bond Index

Updated at : 2024-10-08 06:35:02

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FTSE Russell will on October 8 announce any inclusions into benchmarks including its World Government Bond Index, with a market value of $29 trillion. Seoul hopes it finally made the cut after overhauling currency and debt-market operations.

HDFC Bank's online services hit by glitches

Updated at : 2024-10-08 06:35:02

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"The bank had to take an unscheduled downtime earlier today (Monday) as some operations like transactions through RTGS and NEFT using net banking were affected," a spokesperson said at the lender. "The issue stands resolved."

Oil rose above $80 Monday on Middle East tensions while equities slid in New York as political and interest rate concerns dented the recent rally. The rising oil price and concerns about the Middle East put an end to a recent rally on world stock markets.

Starting Monday, investors will receive 100% of their sale proceeds on the same day, enabling immediate reinvestment. Previously, only 80% was accessible the same day with the rest available later. This change, aimed at enhancing liquidity, will benefit trading activities significantly.

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Reliance Industries Ltd (RIL) will hold a board meeting on October 14 to review the financial results for the quarter ending September 2024. The company previously reported a 5% decline in net profit for the first quarter of June 2024. A presentation to analysts and media will follow the meeting.

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