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  • The Crude oil is reappearing as villain off and on. The volatility in the prices of crude oil and its upward trend is the only cause of concern for the next five years. Thereafter, India will have a lot of options and crude oil prices will be a non-issue.
  • India’s trade deficit in Sept shrank to a five-month low of $19.37 billion.
  • Tata Motors sold its 9.9% stake in Tata Tech through placement for Rs 1613.7 crores and will slowly and steadily retire debt. Valuations of Tata Tech pegged at Rs 16300 crores. More stake will be offloaded through IPO. So, it would reduce its debt. Tata Tech will get more business once listed.
  • HPCL will cut its diesel purchases from other refiners as it has commissioned a 3 million ton per annum refinery at Vizag.
  • Direct tax collection up 18% YOY as of October.
  • Petrol consumption rises 8% YOY in Sept.
  • Some Mayo Clinic in USA has filed a case against Dr Reddy and others that they have not allowed entry of other players for Revlimid by creating some sort of Oligopoly. The company has denied the allegations and said that it will fight against it.
  • RBI orders BOB to suspend onboarding customers to its mobile app.
  • TCS has approved a Rs 17000 crore buyback at a price of Rs 4150 per share. Earlier buyback was at Rs 4500 per share. Buybacks are a trap for retail investors in many of these cases.
  • The Indian cabinet on Wednesday approved establishment of an autonomous body Mera Yuva Bharat.
  • The weakness in the markets led to Mutual fund inflows dip to Rs 14019 crores in Sept from Rs 20245 crores in August.
  • CPI based inflation eases to 5.02% in Sept. Aug IIP growth zooms to 10.3%
  • Sri Lanka takes Amul’s help to achieve self-sufficiency in the dairy industry.

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