Reliance Petroleum Trust is all set to sell out about 10 million shares at Rs 2125 each. Further, the company also plans to sell additional 10 million shares, which would take overall proceeds up to US$880 million.

As per the statement from a fund manager, the company may be planning to buy a petroleum asset out of the country, taking help of fallen valuations.

The shares of National Aluminium Company (Nalco) are trading up by 2.23% at Rs 348.50 at the Bombay Stock Exchange (BSE).

Nalco has come up with a plan to set up nuclear power plant in south Orissa’s Ganjam worth Rs 12,000 crore. For this, the company is in talks with Nuclear Power Corporation of India (NPCIL).

Shares of Nalco have touched an intra-day high of Rs 348.90 and low of Rs 342. The total volume of the shares traded stood at 52,232.

Taking a step forward to cheer-up the hospitality sector, the RBI (Reserve Bank of India) came up with an order, which will help hotels to come out of the high risk category of real estate exposure.

This will guaratee that banks will provide loans to companies at lower rates of interest.

The Union food ministry has decided to provide subsidized loans to sugarcane farmers on which the farmers have to pay an interest of just 4% instead of 7%. The Centre has taken the initiative to facilitate sugarcane farmers so that they can purchase quality seeds, fertilizers and pesticides. 

The Tata group is planning to take over pesticide-maker Rallis India, oldest companies in India, with its agro-chemicals Tata Chemicals.

The merger process is on the way but the companies would take some time to take any decision since both the companies are listed on Indian markets.

Both companies have same line of businesses, providing synergies in terms of complementary products.

The merger eyes a 15% to 20% reduction in Rallis' raw material, employee, logistics and other operational expenses, the sources added.

According to the International Sugar Organization, sugar supply is likely to go down this year as freek weather hits the globe.

Due to the shortage of sugar, its price would remain high.

Raw sugar traded in the New York futures market has gone up 86%. Due to bad weather in India, it is facing its worst drought in 83-years.

On the other hand, Brazil, world’s biggest sugar producer, also faces harvesting delay and crop damage.

Home loan major HDFC aims to raise Rs 4,300 crore from the issue of Non-Convertible Debentures (NCDs) for that it has begun institutional placement of debt securities on Monday.

According to investment banking sources, HDFC’s QIP is expected to close tomorrow. The amount to be raised via NCDs would be about Rs 4,000 crore, they added.

Everonn Systems India Limited, a leading education and training company, has zoomed near about 6% to Rs 367, after securing a computer education order worth Rs 91.87 crore from UP government.

The company zoomed about 7% to Rs 370. The stock hit an intra-day high of Rs 373 and an intra-day low of Rs 350. The counter reported a two-fold increase in its volume of 411,830 shares, as against its 2-week average traded quantity of 287,676 shares.

To promote handicraft items, Delhi Metro Rail Corporation (DMRC) will establish 160 stalls for their display and sale at its stations, in association with the ministry of Textiles. The high-quality stalls will be constructed by DMRC and will be installed

 at existing and forthcoming Metro stations in a synchronized manner starting from October.

Raj Oil Mills made its debut on the BSE at Rs 125, at a premium of 7% or Rs 9.15 to its issue price. Presently, the stock is trading at Rs 119.

After its opening, the stock soon hit a high of Rs 133. But as the trading moved on, it fell to a low of Rs 115. Trading of around 12 million shares has been noted so far.

As per the data available with the National Stock Exchange (NSE), over 98.16 lakh bids were received by the IPO for the equity shares against the actual size of 95 lakh shares.