The Indian stock market for another day might open in the red as the SGX Nifty indicates a negative opening for the country after losing 51 points. The BSE Sensex was down 397.14 points to close at 51,324.69 on February 18. The Nifty50 too declined 89.90 points to 15,119.
Here are the top stocks for the day:
NMDC: The state-owned mineral producer has restarted its operations at its Donimalai iron ore facility.
Ambuja Cements: The cement major reported a profit of Rs 497.1 crore in Q4 CY20 against Rs 454.9 crore in the same period last year. Its revenue increased to Rs 3,515.1 crore from Rs 3,135.9 crore.
DLF: The real estate developer’s subsidiary completed the acquisition of 51.8 percent stake in Fairleaf for Rs 779.40 crore.
IDFC FIRST Bank: The Board approved raising up to Rs 3,000 crore via securities.
Engineers India & Oil India: Both companies will buy 61.65 percent stake in the Numaligarh Refinery.
ACC & Ambuja Cements: Both companies’ board members approved the renewal of master supply agreement between the two for an additional three years.
Jammu & Kashmir Bank: East Bridge Capital Master Fund sold 1,01,25,004 equity shares of the company at Rs 31.09 per share on the NSE.
Karda Constructions: 3,25,000 equity shares of the company were acquired at Rs 125 per share on the NSE by Lotus Global Investments.
Matrimony.com: CMDB II sold 1.25 lakh shares each on the NSE at Rs 880.15 per share and BSE at Rs 880.01 per share, respectively.
Poly Medicure: The company closed its qualified institutional placement (QIP) issue after raising Rs 400 crore at a price of Rs 524 per share.
RCL Retail: Mahipal Sanghvi was appointed as the CFO and Whole Time Director of the company by the board of directors.
Shilpa Medicare: The company has received an Import Alert 66-40, pursuant to the United States Food and Drug Administration (FDA) inspection of Unit IV, Jadcherla, Telangana facility from February 13-20 and February 24-25, 2020.
Dish TV: The Indian direct broadcast satellite service provider paid the settlement charges of Rs 8,20,782 to Sebi.
NCL India: The ‘Navaratna’ issued a commercial paper of Rs 850 crore.
Airline CEOs, Biden Officials Consider Green-Fuel Breaks
Chief executives of the nation’s largest passenger and cargo airlines met with key Biden administration officials Friday to talk about reducing emissions from airplanes and push incentives for lower-carbon aviation fuels.
The White House said the meeting with climate adviser Gina McCarthy and Transportation Secretary Pete Buttigieg also touched on economic policy and curbing the spread of COVID-19 travel has been a vector for the virus. But industry officials said emissions dominated the discussion.
United Airlines said CEO Scott Kirby asked administration officials to support incentives for sustainable aviation fuel and technology to remove carbon from the atmosphere. In December, United said it invested an undisclosed amount in a carbon-capture company partly owned by Occidental Petroleum.
A United Nations aviation group has concluded that biofuels will remain a tiny source of aviation fuel for several years. Some environmentalists would prefer the Biden administration to impose tougher emissions standards on aircraft rather than create breaks for biofuels.
Biofuels are false solutions that dont decarbonize air travel, said Clare Lakewood, a climate-law official with the Center for Biological Diversity. Real action on aircraft emissions requires phasing out dirty, aging aircraft, maximizing operational efficiencies and funding the rapid development of electrification.
Airplanes account for a small portion of emissions that cause climate change about 2% to 3% but their share has been growing rapidly and is expected to roughly triple by mid-century with the global growth in travel.
The airline trade group says U.S. carriers have more than doubled the fuel efficiency of their fleets since 1978 and plan further reductions in carbon emissions. But the independent International Council on Clean Transportation says passenger traffic is growing nearly four times faster than fuel efficiency, leading to a 33% increase in emissions between 2013 and 2019.
The U.S. accounts for about 23% of aircraft carbon-dioxide emissions, followed by Europe at 19% and China at 13%, the transportation group’s researchers estimated.
The White House said McCarthy, Buttigieg and economic adviser Brian Deese were grateful and optimistic to hear the airline CEOs talk about current and future efforts to combat climate change.
Nicholas Calio, president of the trade group Airlines for America, said the exchange was positive.
Airlines are ready, willing and able partners, and we want to be part of the solution” to climate change, Calio said in a statement. We stand ready to work in partnership with the Biden administration.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
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