Hi, NewsWrap for September 16, 2021

Euro Green Bond, PFC, ONGC, IMD, Ola Electric S1 Scooter

16 September 2021

IMD Predicts Intense Rainfall Activity in these States till 18th Sep

On 16th September (Thursday) the India Meteorological Department said that the intense spell of rainfall is likely over Uttar Pradesh, Madhya Pradesh, East Rajasthan, Uttarakhand & Gujarat state till 16th September. There will be a fresh spell of heavy rain, likely over East India from 18th September. In the latest weather update, IMD said that fairly widespread rainfall along with isolated heavy falls is likely over West Madhya Pradesh, East Uttar Pradesh, and East Rajasthan & Gujarat till 17th September.
PFC Issues India’s First “Euro Green Bond”

The Power Finance Corporation Ltd, leading NBFC is in the power sector has successfully issued its maiden Euro of 300 million Seven-year Euro Bond issuance on 13th September 2021. The pricing of 1.841% achieved is the lowest yield locked in by an Indian Issuer in Euro Markets. The first-ever Euro denominated Green Bond issuance from India. Moreover, it is the first Euro issuance by an Indian NBFC & the first Euro bond issuance from India since the year 2017.
Ola Electric sells S1 Scooters worth Rs 600 Crore in One Day

Ola Electric announced that the company has sold the Ola S1 scooters for more than Rs 600 Crores. The electric scooter company has opened the sale on 15th September (Wednesday) for the people who have reserved it in advance. Ola electric claims that it has managed to sell about 4 scooters every & every second of the first 24 hours. The value of scooter sold is claimed to be more than the entire 2W Industry sells in a day.
ONGC, Oil India Scale 52 Week High with hike in Crude Prices

With the rise in Crude prices, upstream oil & the gas producers such as Oil and Natural Gas Corporation Ltd & Oil India Ltd remain in the spotlight. The 2 companies saw their stock process hit 52 – week highs on 16th September (Thursday). A rise in the prices of crude boosts the net realization of oil & gas explorers. The ONGC’s crude net realization at $65.6 barrel was up by 128% YoY & 113% sequentially. The Oil India’s net realization surged at 123% year-on-year & 11.7% sequentially to $67 barrel.