Ether prices

Speciality chemicals company Aether Industries Ltd has set a price band of Rs 610-642 a share for initial public offering. Earlier, the firm said its IPO will open on May 24 for subscription and close on May 26. The basis of allotment expected on May 31, credit of shares expected on Jun 2 and the firm may be listed on exchanges on June 3. The IPO consists of a fresh issue of Rs 627 crore and an offer-for-sale of up to 2.82 million shares by its existing shareholders and promoters. On the upper end of the price band, the firm will raise around Rs 801 crore. The proceeds from the issue worth Rs 190 crore will be used to fund proposed greenfield projects in Surat. The firm will also use Rs 138 crore from proceeds to pay debts. The company will use Rs 165 crore for funding working capital requirements. Close HDFC Bank Ltd and Kotak Mahindra Capital Co Ltd are the lead managers to the issue. Aether Industries is a speciality chemicals manufacturer in India … [Read more...] about Aether Industries sets price band at Rs 610-642 a share for its IPO

Representational Image. Wholesale inflation in the country surged to 12.5 percent in October, up from 10.6 percent in September mainly due to a rise in prices of fuel, food and metals. Wholesale inflation was at 11.6 percent in August and 11.5 percent in July. Measured by the Wholesale Price Index (WPI), wholesale inflation in India strengthened after remaining low for four straight months till September, government data released on November 15 said. Economists had earlier said the September reading was reaching an inflexion point. Wholesale inflation reached record high levels in May after prices continued to rise for five straight months. The primary reason behind overall inflation having moderated in the past few months is that the rise in fuel prices was slower. While fuel inflation has not fallen to 2020 levels, the volatility had gone down. But in October, fuel inflation again rose to 37.2 percent, up from September's 24.8 percent, August's 26 percent and July's 27 … [Read more...] about October wholesale price inflation rises to 5-month high of 12.5%

Dendi Ramdani (Bank Mandiri) (The Jakarta Post) PREMIUM Jakarta   ● Fri, May 20 2022 The recent sharp increase in commodity prices, in particular food and energy prices, has created a double-edged sword for Indonesia. As our exports are dominated by commodities, the increase in global commodity prices should, on the whole, benefit the domestic economy. Conversely, as consumers, we have to pay more. Indonesia should maximize the opportunity provided by high commodity prices by boosting exports. However, at the same time we should minimize the undesirable effects of high commodity prices on the domestic economy, such as higher inflation, which can seriously affect low-income groups. Furthermore, the government policy response to high commodity prices should be accurate to maximize positive effects and to minimize negative effects. Statistics Indonesia (BPS) data shows that the increase in the gross value of exports is mainly due to a price effect instead of a quantity … [Read more...] about Balancing positive and negative effects of high commodity prices

Indonesia Finance Minister Sri Mulyani Indrawati (Bloomberg filepix) - A + A The government sees a 392 trillion rupiah (US$27 billion) boost to total expenditure to reach an estimated 3,106 trillion rupiah this year. (May 19): Indonesia is increasing state spending to fund subsidies that would keep energy prices steady despite the global surge in fuel cost, helping quell inflationary pressures that risk derailing its economic recovery. The government sees a 392 trillion rupiah (US$27 billion) boost to total expenditure to reach an estimated 3,106 trillion rupiah this year. That’s partly to account for a 56% jump in subsidies to the 208.9 trillion rupiah meant to absorb increases in energy costs for Indonesians, said Finance Minister Sri Mulyani Indrawati on Thursday. Payments to compensate state-owned oil company PT Pertamina and state utility PT Perusahaan Listrik Negara also surged 15-fold from the initial estimate to 293.5 trillion rupiah to help keep … [Read more...] about Indonesia adds US$27 bil of spending to absorb price shocks

- A + A KUALA LUMPUR (May 19): Southern Acids (M) Bhd posted a 313% surge in its fourth quarterly net profit ended March 31, 2022 (4QFY22) to RM26.68 million, from As a result, earnings per share rose to 19.48 sen, from 4.72 sen previously. Quarterly revenue jumped 63.82% to RM364.42 million against RM222.45 million a year earlier, on better performances in its core business segments. Southern Acids told the local bourse that its board of directors had recommended a final dividend of 5 sen per share, amounting to a total payout of RM6.85 million. “This dividend proposal is subject to the approval by shareholders at the forthcoming Annual General Meeting of the Company. The date of entitlement and date of payment in respect of the aforesaid dividend will be determined and announced in due course,” said the company in its filing. According to Southern Acids, the oleochemical segment’s revenue increased 48.8% to RM153 million from RM102.8 million, on higher … [Read more...] about Southern Acids 4Q net profit up four times, driven by strong commodity prices; proposes 5 sen final dividend

Representational Image. Wholesale prices in India rose 15.1 percent in April from a year earlier, the most in three decades, increasing cost pressures on producers and likely affecting growth, economists said. Inflation as measured by the Wholesale Price Index was at the highest level on record in the current 2011-12 series. Prices of food, fuel and manufacturing registered an exponential spike in April, with the sharpest increases in fuel and power prices. While WPI has risen considerably since 2015, the 13 percent jump between FY21 and FY22 was the highest. Global factors Close The index is dominated by manufactured products, which have a weight of 64 percent and are influenced significantly by global factors such as the pandemic and geopolitical tensions. Consequently, an increase in global prices gets reflected more in the WPI, according to economists. “The key factors behind the increase in the WPI are elevated global commodity prices and … [Read more...] about Wholesale price increases can threaten growth recovery, say economists

Republican Florida Sen. Marco Rubio said Wednesday on “America’s Newsroom” that Democrats “want” inflation and high gas prices to cause the public to transition to electric vehicles. Gas prices soared Tuesday to a record-high of $4.523 per gallon for regular, while diesel and premium continued to exceed $5 per gallon after inflation skyrocketed 8.3% in April. Rubio told Fox News host Bill Hemmer that President Joe Biden’s administration has worsened soaring prices, arguing they are not taking steps to increase domestic oil production. “This has to do with the fact that we have far-left extremists inside of that White House who are sympathizers not just to the Cuban regime, but the one in Nicaragua, the one in Venezuela, obviously they sympathize with these people,” the senator said. “They hated the sanctions and they just thought oil was a good excuse so they could get people to support them on. But this is nothing to do with oil because Venezuela can’t provide us oil. The oil … [Read more...] about Sen. Rubio Says Democrats ‘Want’ Inflation And High Gas Prices

- A + A (May 19): The worsening gasoline crunch looks set to buoy Asian refiners — particularly those in India — as sky-high US prices encourage more exports. US pump prices have now risen above US$4 a gallon in all states for the first time ever as the summer driving season approaches. JPMorgan Chase & Co forecast this week that American gasoline could surge to as high as US$6.20 a gallon by August, which would be more than double the price a year ago. Motor fuel is taking over from diesel as the major focus of oil-product supply fears, with the tightening market stretching a global refining system that was hit by closures over the last couple of years due to Covid-19. In Asia, gasoline margins jumped to almost US$35 a barrel this week, and are now near those for diesel, which have eased from a peak in early May. “The tightness in the Atlantic Basin, especially in the US, should continue to see Asian gasoline barrels pulled West,” said Dylan Sim, an … [Read more...] about Sky-high US gasoline prices to lure more imports from Asia

- A + A KUALA LUMPUR (May 19): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher on Thursday despite the weakness in soybean oil futures on the Chicago Board of Trade, said a dealer. Palm oil trader David Ng said, however, sentiment was cautious as the expectation that the largest palm oil producer, Indonesia, may lift palm oil export ban from May 23 also weighed on prices. “It will be bad for Malaysian CPO prices because importers can now also purchase from Indonesia if the republic lifts the ban. Definitely, there will be competition. We locate support at RM5,850 and resistance at RM6,400 per tonne,” he told Bernama. At the close, the CPO futures contract for spot month June 2022 increased RM30 to RM6,694 a tonne, July 2022 went up RM19 to RM6,364 a tonne, August 2022 rose RM18 to RM6,134 a tonne, and September 2022 improved RM15 to RM6,021 a tonne. October 2022 was RM14 higher at RM5,960 a tonne and November 2022 climbed RM12 … [Read more...] about CPO futures end higher despite decline in soybean oil prices

HPCL Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × State run- Hindustan Petroleum Corporation Ltd (HPCL) reported robust topline growth on the back of high crude oil prices, but the company was unable to pass on the higher cost to the customers, leading to a decline in its net profit in the fourth quarter of 2021-22. Despite the volatility in the crude oil prices, HPCL plans to spend about Rs 15,000 crore in capital expenditure in 2022-23, as against Rs 16,500 crore spent in the year 2021-22. HPCL reported a 34 percent decline in consolidated net profit in January-March to Rs 2,019 crore . The company’s revenue for the quarter was at Rs 106,533.84 crore, up 24% from a year ago. The company’s downstream petroleum business reported revenue of Rs 105,236 crore in Q4FY22, up almost 24% on year. But the business saw its … [Read more...] about HPCL’s Q4 net takes hit due to retail fuel price freeze; firm plans Rs 15,000 crore capex in FY23